ECONOMICS
CREDIT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
the temptation to buy more than you want
|
|
|
an increased income
|
|
|
the convenience of use
|
|
|
repossession of items if you don’t pay your bill.
|
Detailed explanation-1: -Convenience. Using credit cards when you travel or shop is more convenient than carrying cash. It also provides a handy record of transactions. Using a credit card also may give you some bargaining power if there is a dispute or disagreement involving a purchase.
Detailed explanation-2: -Convenience: Credit cards are accepted at more places than checks, and they’re generally faster to use. Bill Consolidation: Bills can be paid automatically via credit card, consolidating several payments into a single lump sum. Rewards: Using a credit card with a rewards program may earn you benefits like free travel.
Detailed explanation-3: -Building credit, earning cash back and benefiting from fraud protection are just a few of the many advantages of using credit cards.
Detailed explanation-4: -Higher credit limits. Potentially lower interest rates. More purchasing and negotiating power.