Which of these statements most accurately describes the costs and benefits of using a credit card?

Question

Responses

Credit cards expand purchasing power but produce waste.

Credit cards expand purchasing power but produce waste.

Credit cards are convenient but can result in debt.

Credit cards are convenient but can result in debt.

Credit cards cost money to use but result in lower prices.

Credit cards cost money to use but result in lower prices.

Credit cards charge low interest on high-cost items.

Answer 1

The statement that most accurately describes the costs and benefits of using a credit card is:

Credit cards are convenient but can result in debt.

This statement captures the fundamental benefits (convenience and expanded purchasing power) and risks (potential for accumulating debt) associated with credit card use.