IELTS Reading 28-08-2019: Reading Passage 2

Questions 15-27

Read the information below and answer Questions 15-21.

CMG Bank

Credit Card Contract Information

Dear Customer, Thank you for applying for a CMG Bank Credit Card.  A Credit Card Contract between you (the Primary Card Holder) and CMG Bank will govern the usage of your Credit Card.  Please take the time to read and understand the following information, which is an overview of the important parts of our contract with you, our valued customer. 1.       Identification It is a requirement that you provide CMG verification of your identity.  This is a legal requirement which can be met by producing any two of the following documents: A.      Driver’s Licence B.      Birth Certificate C.      Valid Passport D.      Any existing Credit Card details At least one of the above documents MUST contain your photograph and signature.  2.       Credit Limit The credit limit you are entitled to will be provided in the Letter of Offer, which you will receive if your application is successful.  You may request an increase in your credit limit at any time.  The bank reviews all requests and usually notifies customers after five (5) working days. You must not exceed your credit limit unless CMG Bank has authorised you to do so in writing.  If you exceed your limit, a warning letter and/or email is sent to you and a penalty fee of £40 will be automatically debited from your account.  Funds exceeding your limit are also charged at the highest rate of interest (check www.cmgbank.co.uk for updated rates). 3.       Rules for Use A.      CMG Bank Credit Card must be used wholly and exclusively by you and/or nominated user(s). B.      Use of the card for any unlawful purposes (i.e. purchase of goods or services that are prohibited by law) will result in immediate suspension. C.      If you require a card for exclusive business use, please telephone a local CMG branch and ask about Business Credit Card. 4.       Additional Cards A.      You can nominate any person over 16 to be a Secondary User.  This means they can carry an additional card that will be linked to your credit account. B.      You will be responsible and liable for any purchase made on this additional card.  It is also your responsibility make available a copy of this contract and explain the Terms and Conditions to any nominated Secondary User.  The additional cardholder may make full use of the credit card to purchase goods and services and receive cash advances.  Nominated Secondary Users may not request a credit limit increase. C.      Once you have nominated a Secondary User, CMG will mail the additional card to the person.  Please make sure you provide the correct address.    D.      The primary card holder is able to cancel an additional card at any time by filling a from at our Card Cancellation Department. 5.       Purchasing from Merchants A.      A CMG Bank Credit Card is accepted by all merchants displaying the card symbol. B.      The price a merchant charges for goods and/or services purchased may differ from a cash price.  CMG will not bear any liability for merchants’ pricing. C.      If you have a complaint regarding goods or services purchased, you need to resolve the issue with the merchant directly.

Questions 15-18

Do the following statements agree with the information given in the passage?

In boxes 15-18 on your answer sheet write

                TRUE     if the statement agrees with the information

                FALSE    if the statement contradicts the information

                NOT GIVEN         if there is no information on this

15        The maximum amount of money a customer can spend is stated in the Letter of Offer.  

16        If a customer exceeds their credit limit, interest and £40 will be charged.

17        The CMG Bank Credit Card may also be used for some business transactions.

18        Secondary users will be responsible for any purchase they make.

Questions 19-21

Complete the sentences below with words taken from the passage.

Use NO MORE THAN THREE WORDS for each answer.

Write your answers in boxes 19-21 on your answer sheet.

19        Out of four verification documents, one must have the applicant’s ………. .

20        CMG’s response to requests for a credit limit increase takes ……….. .

21        Clients wanting a ………. should phone the bank.

Read the text and answer Questions 22-27.

CMG Bank

Card Descriptions and Options

CMG Silver Card Enjoy a low annual fee as well as a low 7% per annum interest on purchases.  Cash advances must be requested in writing.  The Silver Card offers customers a credit limit of up to £2000 which makes it a great card for junior executives and people in casual employment.  Apply on or before July 15 for the special promotional offer – 55 days interest free* purchase.  A fixed annual fee of only £45 or £30 if you are currently a CMG banking customer.    CMG Gold Card A low 9% interest rate per annum with a credit limit of up to £3000.  Automatic cash advance facilities**.  An annual fee of only £50 if customers link their credit account with their existing CMG savings account.  For non-CMG customers, the annual fee is £65.  Special Gold-Class online protection for internet transactions.  Upon request, phone banking facilities are activated for fund transfers.  Optional insurance cover for loss or theft of the card – a standard fee of £40 annually applies for this option. CMG Gold Plus Card Become a Gold Plus Card holder before July 31 and enjoy no interest and no repayments for 3 months!  Earn bonus points for every purchase.  Earn cash or airline ticket rewards for accumulated points - one point for every dollar spent***.  A credit limit of £5000 applies with an interest free period of 45 days.  Annual fee of £75.  Three Secondary User cards at no additional issuing cost which incur a low annual fee of £10 per card.   CMG Platinum Card If you apply online before August 31 during our special promotional period, you will enjoy no interest charges for up to 6 months.  Always 55 days interest free credit on all purchases.  A credit limit of up to £7,500 available upon request.  The Platinum Card has been specially designed for managers and high level executives.  An annual fee of £100 applies.  Year-end inter-state airline ticket gift for all cardholders in good standing.  Five Secondary User cards may be issued at no extra cost.  2 points for every dollar spent in the rewards programme.  Rewards include: home furniture, electronic goods, free petrol, kitchen appliances, clothing and more!    Additional optional services     CMG Credit Cover (CCC): CCC is an option customers may choose that helps to provide peace of mind.  If you experience an illness or injury or become involuntarily unemployed, CCC insures that your minimum monthly credit payment will be met.  In the event of your total and permanent disablement, CCC will pay your credit card balance in full.  CCC covers any loss due to stolen cards.     Security Plus Protects you against any fraudulent use of your credit card and other valuable personal possessions like mobile phones and laptop computers.  It is an outsourced service from Secure Plus Insurance Company Ltd. that works in close association with CMG.  For a nominal yearly cost of £25 you can enjoy the benefits of this service.  Simply register the details of your card(s) and valuables with Security Plus.  If your card(s) or other possessions are lost or stolen, inform Security Plus.  Your accounts will be blocked and measures will be taken to recover your items.

*does not apply to cash advances

** an interest rate of 17% applies to cash advances

*** no points are awarded for cash advances

Questions 22 - 27
Choose the correct letter, A, B, C or D.
Write your answers in boxes 22-27 on your answer sheet.

22            The CMG Silver Card

A             permits customers to spend up to £2000.

B             is only for junior executives or casual workers.

C             must be used on or before July 15. 

D             has a standard fee for all customers.

                 

23           The CMG Gold Card

A             provides internet security.

B             offers free insurance against theft. 

C             provides a selection of insurers. 

D             requires cardholders to have a CMG savings account 

                 

24           The CMG Gold Plus Card

A             allows for additional cards at no extra cost.

B             allows owners to spend more than £5000 interest free.

C             offers a reward for each dollar spent.     

D             is offering a special deal for new customers.  

                 

25           The CMG Platinum Card

A             does not charge interest for a period of 6 months.

B             costs £100 per year.

C             automatically offers customers a £7,500 credit limit.

D             offers an automatic credit limit of £15,000.

                 

26           Security Plus

A             is a service that operates through mobile phones.

B             is a company owned by CMG Bank.

C             prevents the risk of excess funds being transferred by a cardholder.   

D             costs £25 per year.

27           A new customer not wanting to pay high annual fees should choose the 

A             CMG Gold Plus Card.   

B             CMG Platinum Card.

C             CMG Silver Card.

D             CMG Gold Card.  

ANSWERS

15 True It is mentioned that the Letter of Offer mentions the credit limit, which means the maximum amount of money a user can spend.

16 True It is mentioned that a penalty fee of £40 will be changed for exceeding credit limit. It is also mentioned that funds exceeding credit limit will be charged at the highest interest rate.

17 Not Given It is mentioned that clients can get CMG Business Credit Card for dedicated business purposes. But, whether or not the CMG Bank Credit card can be used for some business transaction is not given.

18 False It is mentioned that the primary cardholder will be responsible for any purchase that the secondary users make.

19 signature and photograph It is mentioned that among the four documents at least one must have photograph and signature of the applicant.

20 five working days It is mentioned that the bank reviews requests for increasing credit limits and notifies within 5 working days.

21 Business Credit Card It is mentioned that clients looking for a card for business purpose should contact the bank for Business Credit Card.

22 A It is mentioned that the CMG Silver Card has a credit limit of $2000, which means that it permits the user to spend up to $2000.

23 A It is mentioned that CMG Gold Card offers online protection, which means internet security.

24 D If customers become CMG Gold Plus Card holders before July 31 they will enjoy no interest and no repayments for 3 months – this is a special offer.

25 B It is mentioned that CMG Platinum Card has an annual fee of £100, which means it costs £100 per year.

26 D It is mentioned that Security Plus costs a nominal fee of £25 per year.

27 C It can be calculated that for CMG Silver Card the annual fee for a new customer is £45, which is the lowest.