Problem
1) Line of Credit Products in Canada: There are many different line of creditproducts available in the Canadian consumer credit market today. Explain thehistory of the development of the line of credit product in Canada as it relates toconsumer lending (not business lending). Provide a detailed description of theline of credit products that are available in Canada today and indicate whichlending institutions are providing them. Outline the features, benefits and costsof the various line of credit products and explain the requirements to be approvedfor the line of credit products and what collateral may be required to obtain them.
2) Consumer Lending Rates in Canada: The rates charged by Canadian lendinginstitutions for consumer lending products have evolved over time. Provide adetailed synopsis of the historical evolution of consumer lending rates. Useexamples to explain how today's lending institutions determine the rates theycharge their customers for the different lending products they provide. Describehow the Government impacts the rates lending institutions charge. Outline howthe different bench mark rates such as the Bank of Canada Rate, the Primelending Rate and the Base Rate are determined and describe what each one isused for. What parameters does a lending institution use to determine the rate it will charge its customer for a loan or a line of credit?
3) Credit Cards in Canada: Provide a detailed historical review of the evolution of Credit Cards in Canada including how and when credit cards were firstestablished and who created them. Explain the many ways credit cardcompanies profit from the sale and use of credit cards and some of the majorrisks associated with credit card lending. Review the features, benefits and costsassociated with a minimum of 5 credit cards issued by Canadian lendinginstitutions and/or retail stores. Describe the process a customer undertakes toobtain a credit card, increase their credit limit, make a payment on a credit cardand cancel a credit card. Outline several bonus programs associated with usinga credit card (cash, points, miles, etc.)