ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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People won’t be able to pay them back
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Gas costs money
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Have to many kids to support
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They need a way to pay bills
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Detailed explanation-1: -The minimum monthly payment is the lowest amount a credit card issuer will accept as payment on a credit card balance to keep a cardholder in good standing each month. A cardholder is not required to pay off a balance every month, but it’s always a good idea to pay a balance in full before it accrues interest.
Detailed explanation-2: -The generation known as “Millennials” have been a hard market for credit card companies to crack. As opposed to older generations, those born between 1981 and 2000 are relatively reluctant to use credit cards, with half of them opting to carry only one credit card.
Detailed explanation-3: -Credit card issuers ask for your income on your application because they need to be sure you can repay your debt.
Detailed explanation-4: -Credit cards make it all too easy to overspend. Buying on credit can also make your purchases more expensive, considering the interest you may pay on them. Getting into too much debt can not only hurt your credit score but strain relationships with family and friends.