Question

5. Special types of bank credit cards Many credit cards offer features that are tailored to users' preferences and lifestyles. In the following situations, identify which credit card is a good choice to achieve the user's goal. Special Bank Credit Cards for Different Lifestyles and Preferences Amy has a history of charging a lot on her credit card and doesn't carry a high monthly balance. The older Amy gets, the more she finds that friends have scattered from the old neighborhood and school and are now living around the world. Amy has a job that gives her a lot of time off Amy plans to use the time to visit her friends for and near Which credit card is the best choice? A secured card Areward card with a frequent flyer program Any affinity card Why is that card the best choice? Amy's low monthly balances will protect her collateral. The high-charge volume will provide funding for Amy's favorite professional organization The high-charge volume will provide points to use toward supporting Amy's relatively expensive plans

Answer 1

1.i) B. A reward card with frequent flyer program

(Since amy wishes to visit friends frequently)

ii) C. The high charge volume will provide points to use towards supporting Amy's relatively expensive plans

(This card will be beneficial as Amy has to frequently fly to meet friends far and near)

2.i)A. An affinity card sponsored by Charity

(Since by using this card portion of reward shall go to charity and crystal wont miss contribution to charity)

ii) C. Charity will receive portion of card's profits

3i) .C. A secured card

(Since Allison has bad credit history)

ii) C. Both of these

(since she has bad credit history so she needs to offer cash deposit as collateral and would qualify for this credit card only)

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