ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You don’t have to carry cash
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They can help you create a good credit record
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They help you to have a record of purchases
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All of these are good reasons to use a credit card
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Detailed explanation-1: -Earning Rewards. Earning rewards can be a great advantage of having a credit card. Help Building Credit. A good credit score can help you get better interest rates for things like car loans, personal loans and mortgages. Digital Tools and Account Management. Unauthorized Charges Protection. 08-Nov-2022
Detailed explanation-2: -Building credit, earning cash back and benefiting from fraud protection are just a few of the many advantages of using credit cards.
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: -Advantages of using credit include the ability to make purchases when cash inflow is low and the convenience of not carrying cash or checks.
Detailed explanation-5: -Convenience. It’s easy to pull out a credit card to buy what you want to, when you want to. Consumer Protections. Potentially Free Financing. Travel Perks and Reservations. Rewards. Easy Recordkeeping. Potential to Build Credit. 27-Oct-2022