ECONOMICS
CREDIT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
shop for the best deals
|
|
|
pay the full balance charged each month
|
|
|
only get credit cards that give you rewards
|
|
|
get as many credit cards as you can
|
Detailed explanation-1: -Avoid paying interest on your credit card purchases by paying the full balance each billing cycle. Resist the temptation to spend more than you can pay for any given month, and you’ll enjoy the benefits of using a credit card without interest charges.
Detailed explanation-2: -It’s a good idea to pay off your credit card balance in full whenever you’re able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.
Detailed explanation-3: -Make payments on time. You should make your payments on time, every time, according to the CFPB. Stay below your credit limit. Create a budget. Consider your credit history. Pay more than the minimum. Monitor your credit with CreditWise from Capital One. 09-Mar-2022
Detailed explanation-4: -Always Pay on Time. Payment history influences your credit score more than any other factor. Pay More Than the Minimum Amount. Keep Balances Low by Using Your Card for Necessary Purchases. 17-Nov-2020
Detailed explanation-5: -Prioritize paying on time. Try to pay more than the minimum each month. Create a budget and stick to it. Review your credit card statement. Develop good spending habits. Review your credit report. Maintain a low credit utilization ratio. Use cash back or rewards. More items