Analysis of Credit Card Debt

Introduction

The purpose of this paper is to analyze the subtleties associated with credit card debt, minimum payment and interest rates. This topic is important because as of June 2015, the average American Household had $7,200 in credit card debt, as reported by CBS News. Also, there is the fact the current Credit Cardholders’ Right of Bill (passed in 2009) gives rights in terms of establishing limits about how credit card companies can charge customers, but it also does not set a control on fees or rates. These elements are crucial and make the topic of credit card debt a very relevant one.

Thesis Statement

The main thesis statement that will be held throughout the paper is that it is of critical importance the understanding of credit card terms, fees and rates, and it is of critical importance for consumers to understand that the differences in the terms of credit card debt can make a huge difference in the total amount paid.

In the following sections, different hypothetical situations will be evaluated in order to shed some light to how the difference in credit card debt terms can make a large difference in the bottom line of customers.

Price: $17.83

Solution: The downloadable solution consists of 9 pages, 883 words and 1 charts.
Deliverable: Word Document