Why might it be better to save up some money and buy something later than to buy it on credit now?
You may get protection for purchases that are lost, damaged, or stolen.
Buying anything on credit will damage your credit rating.
Paying for things on credit will hurt the economy, by taking money out of circulation.
Paying off credit debt can extend many years, long after the item purchased was useful.
4 answers
And your answer is?
No.
The only other answer that makes sense to me is D
Yes. D is correct. Many people have to declare bankruptcy because their credit card debt is too high for them to pay.
Also -- the fact that credit cards charge at least 18% interest per year on the unpaid balance means that the debtor could pay double or more for their purchases.
Also -- the fact that credit cards charge at least 18% interest per year on the unpaid balance means that the debtor could pay double or more for their purchases.
1 answer