ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All of the following are dangers of credit, EXCEPT:
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Overspending
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Can be dangerous in tough economic times
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Can increase your financial options
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Can be expensive
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Explanation:
Detailed explanation-1: -Through credit usage, the users cannot able to manage all their financial activities and it may lead to slowing down the financial goals.
Detailed explanation-2: -Which is NOT a positive reason for using a credit card to finance purchases? You will get charged high interest.
Detailed explanation-3: -A downside to high credit limits is that they can potentially lead to overspending to the point where you cannot afford your monthly payments.
Detailed explanation-4: -Advantages of using credit include the ability to make purchases without cash and the convenience of not carrying checks. Both tracking your purchases and paying off the entire card balance monthly to avoid interest charges are correct.
There is 1 question to complete.