ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT a positive spending habit?
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Find alternative activities to shopping.
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Use credit for your wants and not needs.
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Consider stores that sell “seconds, “ rebuilt, or used products.
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Wait and shop when there are sales.
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Explanation:
Detailed explanation-1: -Which is NOT a positive reason for using a credit card to finance purchases? You will get charged high interest.
Detailed explanation-2: -Three common credit problems are: Lack of enough credit history. Denied credit application. Fraud and identity theft.
Detailed explanation-3: -The correct answer is option d. It often leads to impulsive buying. Having a credit card has both benefits and drawbacks.
Detailed explanation-4: -Credit cards can help build your credit history, protect your checking account from fraud, and earn you valuable rewards. If you spend within your means and pay off your balance in full every month, you’ll avoid paying interest fees, as well as debt.
There is 1 question to complete.