Have A Credit Card That Is Charging You 9.9%

Current Prime lending rate is 3.25% hence interest rate on credit card is 3.25+9.9=13.15%Prime lending rate in 1983 was 11% hence interest rate on credit card is 11+9.9=20.9%A. Considering the opening balance and other transactions in the credit card and gas expense of 53 and food expense of 200 average daily balance is 1032 on the credit card.3 B. Interest cost will be 11.3 (Average daily balance * Interest Rate / 12)3 C. Interest cost as 30 year prior interest rate would be 17.95 (Average daily balance * Interest Rate of 1983 / 12)On comparison of 3 credit cards, we get find below basic features of the card.Credit CardInterest RateGrace PeriodAnnual FeesCapital One11.90%30 days0Bank of America12.99%60 days0Discover IT10.90%45 days0Of all the 3 cards selection can be made based on the following requirementFlier Miles: I would select Capital One credit card if I am a frequent traveler and ensure that I make payments on time.Cash Back offer: I would select Bank of America as it gives 5% cash back on groceries and gasInterest Rate Sensitive: I would select Discover IT as it has lowest interest