ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Using your own money
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Could acquire overdraft fees, and ATM charges if you try to take money out of an ATM that is not in your ATM network (additional charges for out-of network banks).
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BANKRUPTCY
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FORECLOSURE.
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Detailed explanation-1: -No Debt – With a credit card it’s easy to purchase anything you want, even if you don’t have the funds. With debit cards, the money comes directly from your bank account, so you avoid spending more money than you have.
Detailed explanation-2: -Debit Cards make transactions fast, easy and convenient to use. Debit Cards have the ability to give you cash. They double up as ATM cards and allow you to withdraw money from an ATM. Therefore, working as an emergency fund for you.
Detailed explanation-3: -When you use a debit card, you are using your funds but you are borrowing money from your card issuer when you use a credit card. But there isn’t necessarily a better card to use. Using credit versus using a debit card, which is essentially cash, depends on how you want to spend and manage your money.
Detailed explanation-4: -You do not have to carry large amounts of cash or a checkbook and can visit an ATM when you run out of money. This may help you avoid the need for traveler’s checks or carrying a lot of cash when traveling. You will not build up debt using your debit card.
Detailed explanation-5: -Easy to obtain. Once you open an account most institutions will issue you a debit card upon request. Convenience. Safety. Readily accepted.