Is it a good idea for consumers to spend on credit cards? Why or Why not? Can it be both good and bad to buy on credit?
It is not a good idea for consumers to spend on credit cards because it gives a false sense of security you have money that you really do not have. It can be both good and bad to buy on credit. The reason I say this is because al long as you know you can pay the debt off when the bill arrives then it is good to buy on credit. It helps to raise your credit report, which in turn lowers your interests rates when you go to buy something big like a home. However, if you buy something with the credit card and can not pay the bill then you are strapped with interests rates that make it harder to pay the bill off.
2 answers
Looks good!
"It is not a good idea for consumers to spend on credit cards because it gives a false sense of security you have money that you really do not have. It can be both good and bad to buy on credit."
You have contradicted yourself in your first two sentences.
You have contradicted yourself in your first two sentences.
1 answer