ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The total amount she can charge on her cards is more than her ability to repay
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she pays the complete balance each month.
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She is extremely careful about disclosing account information to unsolicited callers.
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None of the above
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Detailed explanation-1: -Following the guidelines below will help you maintain a good score or improve your credit score: Watch your credit utilization ratio. Keep credit card balances below 15%–25% of your total available credit. Pay your accounts on time and if you have to be late, don’t be more than 30 days late.
Detailed explanation-2: -There are many types of credit. The two most common types are installment loans and revolving credit. Installment Loans are a set amount of money loaned to you to use for a specific purpose. Revolving Credit is a line of credit you can keep using after paying it off.
Detailed explanation-3: -List everything you owe. Decide how much you can pay each month. Reduce your interest rates. Use a debt repayment strategy. Be diligent moving forward. 31-Dec-2022
Detailed explanation-4: -Stop paying high interest rates. Apply for a card with a lower rate, but make sure you understand the credit card agreement before signing it. Consolidate credit card debt. Stop using credit cards if possible. If you have savings, consider using some of it to pay off debt.