This document discusses features of credit cards and comparing sources of consumer credit. It outlines key factors to consider when analyzing credit cards, such as annual percentage rates, fees, rewards, and risks. A decision model can help consumers establish criteria to select the credit card best suited to their financial planning needs. Borrowers should also compare terms and conditions, like interest rates and fees, across various sources of consumer credit, including credit cards, banks, retailers, and risk-based lenders.

1. Consumer Credit
EPF.13B ANALYZE CREDIT CARD FEATURES AND THEIR
IMPACT ON PERSONAL FINANCIAL PLANNING
EPF.13E COMPARE TERMS AND CONDITIONS OF VARIOUS
SOURCES OF CONSUMER CREDIT

2. EPF.13b analyze credit card
features and their impact on
personal financial planning
CREDIT CARDS HAVE MANY POSSIBLE FEATURES.
A DECISION MODEL CAN HELP SELECT THE
APPROPRIATE CARD FOR THE CONSUMER.

3. What are some of the features of credit cards?
Consumers should consider the impact on personal
financial planning of credit card features, such as
 annual percentage rate (APR)
 annual fees
 compound interest
 penalty charges
 credit line
 promotional incentives
 account disclosure statement
 minimum payments.

4. How can a decision model be used to select a
credit card?
 To use a decision model in selecting a credit card, the
consumer needs to decide what features are most
important in order to establish criteria.

5. What are the costs and benefits of credit cards?
The benefits of using The costs of using credit
credit cards include cards include
 float (deferred payment)  interest
 convenience  fees
(e.g., late, annual, over-
 capability to conduct the-limit)
online transactions  risk of identity theft
 rewards  risk of borrowing beyond
 purchase protection the ability to repay
 fraud protection  length of time to pay off
 payment over time the balance when paying
only the minimum
 establishing credit. payment.

6. EPF.13e compare terms and
conditions of various sources of
consumer credit
BORROWERS SHOULD COMPARE THE TERMS AND
CONDITIONS OF VARIOUS SOURCES OF CONSUMER
CREDIT.

7. What are the terms and condition s of various
sources of consumer credit?
Consumers should consider
Consumers of credit costs and benefits of
should compare various sources, including
 percentage rates  retailers
 annual fees  banks
 transaction fees  credit unions
 finance companies
 finance charges
 risk-based lending
 risk of losing assets.
companies
(e.g., payday loan
services, pawnbrokers,
title loan services).