Ann Marie accumulated a large balance on her credit card while in college.She is trying to get it paid off as quickly as possible and wants to roll the balance onto a new credit card.She now uses a credit card only for emergencies.What should Ann Marie look for in a credit card given the large balance and the way she plans to use the card?

Question

Quizplus · Accepted Answer

Ann Marie should look for a credit card with a low APR because she wants to pay off the large balance as quickly as possible, and a high APR would result in more interest charges. The other options (low annual fee, long grace period, and specific balance calculation methods) may also be beneficial, but a low APR is the most important factor in this case.

Ann Marie Accumulated a Large Balance on Her Credit Card