ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Paying interest
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Identity theft
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Not having to carry around a lot of money
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Bad credit
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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: -The correct answer is option d. It often leads to impulsive buying. Having a credit card has both benefits and drawbacks.
Detailed explanation-3: -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-4: -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