Ann Marie accumulated a large balance on her credit card while in college. She is trying to get it paid off as quickly as possible and wants to roll the balance onto a new credit card. She now uses a credit card only for emergencies. What should Ann Marie look for in a credit card given the large balance and the way she plans to use the card?

Question

Business

Ryder Estrada

23 April, 13:56

Ann Marie accumulated a large balance on her credit card while in college. She is trying to get it paid off as quickly as possible and wants to roll the balance onto a new credit card. She now uses a credit card only for emergencies. What should Ann Marie look for in a credit card given the large balance and the way she plans to use the card?

+3

Answers (1)

Know the Answer?

Malik Chan · Answer 1

low annual percentage rate

Explanation:

Annual percentage Rate refers to the amount of cost that the credit card provider make you pay based on the amount of balance you use.

This mean that If you accumulated a large balance on your credit card, the amount of payment that you have to pay to the credit card company will also increase.

This mean that Opting for credit card with low annual percentage will be significantly cheaper for Ann Marie. Especially if she's decided not to unnecessarily increase the balance in the future.