Fill - Free fillable Form 1.: UnderstandingaCreditCardStatement (Mr. Breitsprecher's Business Ed Home Page) PDF form

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1.4.1.A4

©FamilyEconomics&FinancialEducation–RevisedMay2011–CreditUnit–UnderstandingaCreditCard

FundedbyagrantfromTakeChargeAmerica,Inc.totheNortonSchoolofFamilyandConsumerSciencesTakeChargeAmericaInstituteatTheUniversityofArizona

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Byeducators…foreducators

UnderstandingaCreditCardStatement

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TotalPointsEarned

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Name

15

TotalPointsPossible

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Date

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Percentage

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Class

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Directions:Refertotheprovidedcreditcardstatementtoanswerthefollowingquestions.

WhatisthecurrentAPRforpurchases,balancetransfers,andcashadvances?

(3points)

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Whatwasthetotalamountofinterestchargedforthisbillingcycl e?Howmuchofthisinterestwaschargedto

purchases?Howmuchofthisinterestwaschargedtocashadvances?

(3points)

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Whatwasthetotalamountoffeeschargedforthisbillingcycle?Whatwerethesefeeschargedfor?

(2points)

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Arethereanychangestothetermsoftheaccount?Ifso,whatarethechanges?

(2points)

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Whatwillhappenifthecreditcardbillisnotpaidontimethismonth?Howwillthisaffectfuturepurchases? 

(2points)

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Thecardholderpaystheminimum paymentof$53.00thismonthandmakesno newpurchasesduringthe

nextbillingcycle.Whatwillbethenew creditcardbalanceduringthenextbillingcycleifthecardholderhasa

$10.27interestchargeforthemonth?

(1point)

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Howmuchofthecreditlimitisleftforthiscreditcard?Canthisfullamountbechargedtothecreditcard?

(2

points)

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Page|28

1.4.1.A4

©FamilyEconomics&FinancialEducation–RevisedMay2011–CreditUnit–UnderstandingaCreditCard



Byeducators…foreducators

PaymentInformation

NewBalance $1749.53

MinimumPaymentDue $53.00

PaymentDueDate 4/20/12

LatePaymentWarning:Ifwedonotreceiveyourminimumpaymentbythedate listed

above, you may have to pay a $35 fee and your APR’s may be increased up to the

Penaltyrateof28.99%

MinimumPaymentWarning:Ifyoumakeonlytheminimumpaymenteachperiod,

youwillpaymoreininterestanditwilltakeyoulongertopayoffyourbalance.For

example…

Ifyoumakenoadditional

chargesusingthiscardand

eachmonthyoupay…

Youwillpayoffthe

balanceshownonthis

statementinabout…

Andyouwillendup

payinganestimated

totalof…

Onlytheminimumpayment 10years $3,284

$62 3years $2,232

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SummaryofAccountActivity

PreviousBalance 535.07

Payments‐450.00

Purchases +529.57

BalanceTransfers +785.00

CashAdvances +318.00

PastDueAmount +0.00

FeesCharged +34.45

InterestCharged +10.89

NewBalance $1,749.53



CreditLimit $2,000.00

Availablecredit $250.47

Statementclosingdate 3/22/2012

Daysinbillingcycle 30

Transactions

ReferenceNumber TransDate PostDate DescriptionofTransactionorCredit Amount

XXXX1 2/22 2/23 Store#1 $529.57

XXXX2 2/25 2/26 Payment $450.00‐

XXXX3 2/26 2/26 CashAdvance $318.00

XXXX4 3/15 3/17 BalanceTransfer $785.00

Fees

XXXX6 2/27 2/27 BalanceTransferFee $23.55

XXXX7 2/28 2/28 CashAdvanceFee $10.90

TotalFeesforthisPeriod $34.45

InterestCharged

InterestChargeonPurchases $6.31

InterestChargeonCashAd vances $4.58

TotalInterestforthisPeriod $10.89

2012TotalsYear‐to‐Date

Totalfeeschargedin2012 $55.14

Totalinterestchargedin2012 $18.27

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InterestChargeCalculation

TypeofBalance AnnualPercentageRate(APR) BalanceSubjecttoInterestRate InterestCharge

Purchases 14.99% $512.14 $6.31

CashAdvances 21.99% $253.50 $4.58

BalanceTransfers 0.00% $637.50 $0.00

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ImportantChangestoYourAccountTerms

Thefollowingisasummaryofchangesthatarebeingmadetoyouraccountterms.Formore

detailedinformation,pleaserefertothebookletenclosedwiththisstatement.Thesechanges

willimpactyouraccountasfollows:

Transactionsmadeonorafter4/9/12:Asof5/10/12,anychangestoAPR’sd e scribedbelow will

applytothesetransactions.

Transactionsmadebefore4/9/12:CurrentAPRswillcontinue toapplytothesetransactions.

RevisedTerms,asof5/10/12

APRforPurchases 16.99%

CREDITCARDSTATEMENT

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