Credit Card and Debt #4

According to the text, if you use a credit card responsibly, it can:

(CHOOSE ALL THAT APPLY)

• become a useful tool for you

• stop you from having to carry so much cash

• provide protection for you as a consumer

• stop you from being targeted for fraud

Credit card owners are protected against fraudulent charges if a card is lost/stolen, as long as they:

(*8 words, directly from the text, spelling counts!)

(a)  

What can a credit card allow you to keep track of? *2 words

(a)  

Keeping tracking of your expenses is beneficial because:

• it can help with your credit score

• it can help with your monthly payment amount

• It can help with maintaining a budget

What does "purchase protection" for a credit card provide?

(*1 word, hint: we recently covered this topic)

(a)  

If you use a credit card responsibly, what can it help you establish and build?

(*2 words, directly taken from the text, spelling counts!)

(a)  

Most credit card companies offer benefits and rewards. The more you use the credit card, the more rewards you gain. However, we should be cautious because:

• the rewards are only valid if you pay off your balance completely each month

• the rewards are only valid if you have a high line of credit

• the rewards are only valid if you pay your bill on time each month (in full or partial payments)

• the rewards are only valid if you open another credit card within 3 years