ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Too much debt
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High bills
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High interest
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Convenience
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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: You don’t have to worry about how much cash you have on hand. Just remember that you can always use a debit card instead.
Detailed explanation-3: -Credit can be a powerful tool that helps you improve your finances, get access to better financial products, save money on interest, and can even save you from putting down a deposit opening utility or cell phone accounts.
Detailed explanation-4: -2)Allows use of other people’s money – during the time you purchase something and when you pay it off, you are using someone else’s money. 3)Immediate – unexpected costs like a car repair can be met quickly. 4)Can buy a large purchase you do not have cash for such as a car, house, etc.
Detailed explanation-5: -You’ll have an easier time renting an apartment. You’ll get the best rates on car and homeowners insurance. It’s cheaper to borrow money. You’ll be better prepared for the future. You can access perks and enjoy the best rewards. More items