Question

bobby is trying to decide between two credit cards. one has no annual fee and an 18 percent interest rate, and the other has a $40 annual fee and an 8.9 percent interest rate. should he take the card that is free or the one that costs $40?

Answer 1

Bobby is trying to decide between two credit cards. It is recommended that he choose a card that does not have an annual charge. It is highly recommended that he go with the card that has the lowest interest rate.

What are credit cards.?

Generally, A payment card is known as a credit card if it is offered to users for the purpose of allowing the cardholder to pay a merchant for goods and services using the cardholder's accumulated debt as the basis for the transaction.

In conclusion, Bobby is weighing his options with regard to two different credit cards.

• It is suggested that he choose a card that does not need an annual fee to maintain its account.
• It is strongly suggested that he go with the card that has the most favorable interest rate for his situation.

Read more about credit cards

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CQ

Bobby is trying to decide between two credit cards. One has no annual fee and an interest rate of 18 percent, and the other has a $40 annual fee and an interest rate of 8.9 percent.

A) If Bobby pays his credit card balance in full each month, which card should he choose?

B) If Bobby just pays the minimum payment and carries a balance from one month to the next, which card should he choose?