Understanding credit cards

A credit card is

• Fake

• A plastic card you can use to access a line of credit in advance

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Answer explanation

The cost of credit is

• A person can borrow up to the established credit limit

• Fake

• Fake

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What is minimum payment

• 10-15% of balance

• Fake

• Fake

• F

What impact does paying the minimum payment have on the consumer

• Charges lots of intrest

• Fake

• Fake

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The four positive credit behaviors are

• In full each month, on time, think about credit history, check monthly for errors

• Fake

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A credit card is a convinent tool because

• No need to carry lots of cash

• Useful in emergencies

• Often required to hold a reservation

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Why may consumers overspend

• They dont check their credit each month

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What shoule you do if you lose your credit card

• Report before it is frequently used

• You are liable for 50 to 0

• To make sure your credit is not being used by someone else

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Why credit cards are safer than debit online

• Credit is more protection against fraud

• Less liability for unauthorized charges

• Money isnt directly connected to depository institution

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Credit rewards

• Cash rebates and airline miles

• Charge additional fees or higher intrest

• Carefully evaluate if the benefits out way the cost

• Fake