Comparative Analysis
Posted: November 30th, 2013
Comparative Analysis
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Comparative Analysis.
Question 1
| Company | Discover More Card | American Express
Premier Rewards Gold |
Shell Platinum MasterCard |
| Items on the Cards | |||
| Annual Fee | $60 or none | $ 175. However, none for the first year. | None |
| Interest rate | None, but after 25 days, the minimum interest charged is $0.50. | None. | None |
| Late Fee | From 14.99 % to 27.99% | $35 or 2.99% of the amount. | $35 |
| Cash Advance | $10 or 5%, depending on which is greatest. | $35 | $35 |
| Transaction Fee | APR on purchases- from 9.99% t0 22.99% | 2.7% of the amount in US dollars. | 3% of the amount in US dollars. |
| Balance transfer fee | 3 % of the transfer amount | 3% of the transfer amount | $5 or 3%, depending on the greatest amount. |
| Returned Payment Fee | $35 | $35 | $35 |
Question 2
Of these three credit cards, I would the Discover More Card. In comparison, it is cheaper to manage and at the same offers additional benefits. Discover More Card is cheaper to manage as compared to American Express Premier Rewards Gold. The annual fee for Discover More Card is $ 60 and at times no fee, while for the Premier Rewards Gold is $175. This would be a high price for me to maintain, and hence I would go for a cheaper option.
On the other hand, the Shell MasterCard has no annual fee, but it offers benefits that are hard to attain. For example in order to be able to make a gasoline saving, the lowest amount of purchases made in a billing cycle should be $500. In that, in one gallon a person will have attained a $0.10 credit. Furthermore, this does not suit most of my needs, because the savings are used up on the fuel, but not for other purchases. In this, Shell MasterCard is cheaper, but Discover More Card offers benefits that suit my needs better.
The Discover credit card offers benefits such as extended warranty of products and protection of purchases. On purchase protection, the Discover Card provides coverage for the consumer, incase of theft or damage. The duration of protection is ninety days, where $500 of the purchases are covered with the card, as long as the purchase was made through the Discover Card. In terms of product coverage, the card also provides the victim with help when reporting the crime, free of charge, for the card member. Apart from protection on purchases, the card also gives a double warranty of the one that has been provided by the manufacturer.
A second benefit that the card has is its protection against fraud on the account. Discover More Card provides fraud alerts to the user’s phone through text messages or e-mail. The company also gives advice on the several ways in which a consumer can keep his or her account and computer system safe.
Thirdly, members acquire certain benefits by using this card to shop online. Such benefits include the ability to compare the quality and prices of products and they can make deals, while bookings for travel, for example, free shipping. Other benefits include emergency roadside and travel assistance, any time that it is needed, insurance against flight accidents and auto rentals and applications that show how one is spending on the card. Hence, I can be able to enjoy the benefits that come with the Discover More Card, while at the same time spend less annually than I would have if I used the Premier Rewards Gold. The Shell MasterCard, on the other hand, does not offer as many benefits, even though its annual fee is less
Reference:
Discover Bank. (2012). Discover. Retrieved from https://www.discover.com/
American Express. (2012). Premier Rewards Gold Card. Retrieved from https://www304.americanexpress.com/credit-card/premier-rewards-gold?intsearchct=curated
Shell in the United States. Shell Platinum MasterCard. Retrieved from http://www.shell.us/home/content/usa/products_services/shell_cards/mastercard/
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