A Home Fit for the Royals

How will I Pay?

The Scenario

The Queen, Prince William, and Kate Middleton have selected a person in every state to give them a tour of that part of the United States. I have been selected and decided I need to furnish my home with new furniture and electronics to give them a good impression when they come to visit.

The Goal

My overall goal is to buy $10,000 in furniture and electronics for my new home. But most importantly, I must impress the Royal family.

Credit Card Offer 1- Capital One® Quicksilver® Cash Rewards Card

  • One-time $100 bonus after you spend $500 on purchases within the first 3 months
  • Earn unlimited 1.5% cash back on every purchase, every day
  • 0% intro APR on purchases until December 2015; 12.9%-22.9% variable APR after that
  • No rotating categories and no sign ups needed to earn cash rewards
  • Cash back doesn't expire and there's no limit to how much you can earn
  • Balance transfers also have a 0% intro APR until December 2015, a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees
  • Capital One® Credit Tracker—the free way to easily monitor your monthly credit score anytime, anywhere

Credit Card Offer 2-BankAmericard Cash Rewards™ Credit Card

  • Online-exclusive $100 cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • 1% cash back on every purchase, 2% at grocery stores and 3% on gas for the first $1,500 in combined grocery store and gas purchases each quarter
  • No annual fee
  • No changing categories and your rewards do not expire
  • Bank of America customers: Get a 10% customer bonus every time you redeem cash back into a Bank of America® checking or savings account
  • 0% Introductory APR for 12 billing cycles for purchases and for any balance transfers made in the first 60 days, then, 12.99% - 22.99% variable APR

Credit Card Offer 3-Capital One® Platinum Credit Card

  • Start with a $0 intro annual fee for the first year; $19 after that
  • Regular APR is 24.9% (Variable)
  • Credit Needed is Fair
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account—even from your smartphone with our mobile app
  • Pay by check, online, or at a local branch, all with no fee—and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
  • Get free access to your credit score and learn how everyday decisions can affect your score using Capital One® Credit Tracker

Credit Card Offer 4-Amex EveryDaySM Credit Card

  • Earn 10,000 Membership Rewards® Points after you make $1,000 in purchases with your new Card in the first three month

  • Can get 2X points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1X) and 1X points on other purchases.
  • Use your Card 20 or more times on purchases in a billing period and get 20% more points on those purchases less returns and credits.
  • NO ANNUAL FEE and NO ANNUAL FEE for Additional Cards.
  • Flexibility to pay over time or pay in full each month.
  • Use points for rewards from over 500 leading brands in travel, gift cards, merchandise, or entertainment
  • 0% intro APR on purchases and balance transfers for 15 months. After that, your APR will be a variable rate, currently 12.99% to 21.99%

The Card I Will Choose

I will choose the Capital One® Quicksilver® Cash Rewards Card for this purchase because I can receive unlimited cash back, and I long as I pay my bills on time the initial APR will not change. I also selected this card because there is no annual fee, and there is 0% intro APR on purchases until December 2015. With such a large purchase, receiving cash back will especially be a beneficial feature to have on a credit card. I only chose one credit card because having to many credit cards can lower your credit score, and it could be challenging to pay two credit cards monthly. It is easier to only focus on paying one.

How long will it take to pay this debt?

If I buy these items before December 2015, there will be 0% APR on my purchases. I can pay off this debt in 11 months if I pay at least $909 a month.