ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Why are revolving credit accounts a dangerous idea?
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The interest rates on them are very high.
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It is easy to overspend and get deep in debt.
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They can lead to impulse buying.
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All are dangers of revolving credit.
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Explanation:
Detailed explanation-1: -It’s Easy to Get Behind. As easy as it is to spend, it’s even easier to get behind. Once you start carrying a balance on your credit card, it’s difficult to catch up. As you keep using your card, the balance creeps higher and higher, and the interest you’re now paying piles on an extra expense.
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