Comparing Credit Cards

By. Rushiraj Parikh

Citi Simplicity CardAnnual fee None

Finance charge Minimum of $0.5

Minimum payment $10

Balance transfer No (fee = $5 – 3%)

APR 0% for 18 months then 13-22% on purchases -- depending on credit worthiness ---- 25% on cash advance

Grace Period 22 days

Late payment fee None

Cash Advance 13, 18, or 22% APR – 5% fee

Interest-fixed or variable Minimum of $0.5

Credit Limit $500- $3,000

Types of Card (Visa) Low interest Credit Card

Other features (rebate) $0 fraud liability

Capital One Venture One Rewards CardAnnual fee None

Finance charge Minimum of $0.5

Minimum payment Greater than $25 or 1% of your balance plus interest

Balance transfer No, with 14-21% APR

APR 0% until july 2014; 12-20% variable. Penalty APR = 29.4%, APR on Cash Advance = 24.9%

Grace Period 25 days on purchases

Late payment fee Up to $35

Cash Advance 3% fee, minimum fee of $10

Interest-fixed or variable Minimum of $0.5

Credit Limit $3,000 - $20,000

Types of Card Low Interest Visa Credit Rewards Card

Other features (rebate) 10,000 bonus miles

Discover “It” CardAnnual fee None

Finance charge Minimum finance charge of $0.5

Minimum payment $35or 2% of the new balance on billing statement

Balance transfer Yes 3% or minimum of $5 fee for each BT

APR 0% for 6 months on purchases and for 18 months on balance transfers (11-23% later on)

Grace Period 25 day grace period

Late payment fee None for first, $35 for the following

Cash Advance Either $10 or 5% fee of each cash advance

Interest-fixed or variable Minimum of $0.5

Credit Limit Average of $1500

Types of Card Discover decision credit reward card

Other features (rebate) 1% cash back on all items