ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income is equal to the expenses and savings. They both equal to zero.
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The plan for spending and saving money.
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A paper asking the bank to pay the specific amount.
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They money is borrowed no and it’s paid back later.
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Detailed explanation-1: -You’re essentially borrowing money to make purchases when you use a credit card. Any balance not paid back during the billing month accrues interest that must be paid. Debit cards are linked to a bank account.
Detailed explanation-2: -Under banking law, card issuers must return payments that are over the balance due. If you have a credit balance of more than $1, it should be refunded to you seven days after your written request. A credit balance means that, instead of owing the card issuer money, they owe you.
Detailed explanation-3: -If your credit card payment does not go through, your card issuer will typically charge you a returned payment fee. It could even add on a late payment fee, depending on the terms of your card agreement. Not only that, but your bank may also assess you for a “non-sufficient funds” fee.
Detailed explanation-4: -Using your credit card is like getting a loan. When you use your credit card to buy something, you are borrowing money.
Detailed explanation-5: -Debt is anything owed by one party to another. Examples of debt include amounts owed on credit cards, car loans, and mortgages.