André is going to college, and his parents want to make sure he doesn’t overspend his money. They want him to stick to a strict budget. What is the BEST type of card for Andy to use?

Question

a gasoline card

a secured credit card

a smart card

a retail credit card

Answer 1

The best type of card for André to use would be a secured credit card.

Here's why:

• Budget Control: A secured credit card often requires a cash deposit that serves as a credit limit, which helps André control his spending and stick to his budget.
• Building Credit: Using a secured credit card responsibly can help André build his credit score for future financial needs.
• Limited Risk: Since the spending limit is set by the initial deposit, it reduces the risk of overspending compared to a regular credit card or a retail credit card.

The other options (gasoline card, smart card, and retail credit card) may not offer the same benefits in terms of budgeting and building credit.