What is one advantage of having a credit card brainpop answers?
What is one advantage of having a credit card? It allows you to make purchases without carrying loads of cash. Why would your credit provider give you a credit limit? To prevent you from spending more money than you can pay back.
With careful use, credit cards can help you build your credit and accumulate valuable benefits and rewards. Plus, you'll enjoy protection against unauthorized charges. However, interest rates are high, and if you don't pay on time and in full you can accumulate debt and even hurt your credit score.
It allows you to make purchases without carrying lots of cash. It encourages you to budget your money wisely.
Advantages of using credit include the ability to make purchases when cash inflow is low and the convenience of not carrying cash or checks.
Convenience. Using credit cards when you travel or shop is more convenient than carrying cash. It also provides a handy record of transactions. Using a credit card also may give you some bargaining power if there is a dispute or disagreement involving a purchase.
What is one advantage of having a credit card? It allows you to make purchases without carrying loads of cash.
Credit cards offer convenience, consumer protections and in some cases rewards or special financing. But they may also tempt you to overspend, charge variable interest rates that are typically higher than you'd pay with a loan, and often have late fees or penalty interest rates.
There are multiple benefits of using a credit card. Credit Card advantages include enhanced financial health, improved credit score, balance transfer, easy loan approval, access to funds in case of emergency, affordable EMIs, among multiple other additional benefits.
Credit cards offer benefits such as cash back rewards and fraud protection. But if mismanaged, credit cards can lead to debt, interest charges and damage to your credit.
| Question | Answer |
|---|---|
| When you borrowed $50 from your rich cousin, and then had to pay her back $60, what is the original $50 called? | principle |
| A high credit score gives you one main benefit. | low interest rate |
What is one advantage of using a credit card brainly?
Expert-Verified Answer
An advantage of having a credit card is that it helps a person to limit the amount of cash she has to carry, provides financial flexibility, and offers protection for purchases.
Two advantages of having credit are that it expands your purchasing power and raises your standard of living and is convenient.
iv)It increases purchasing power and standard of living. 2)Disadvantages: i)Charge a fee for late payments. iii)Interest rate will increase if it is not paid on time.
Banks, credit unions, and finance companies are traditional institutions that offer loans. Government agencies, credit cards, and investment accounts can serve as sources for borrowed funds as well.
You have no choice about when to make the payment
Not being able to choose when to pay puts you at higher risk of credit card debt or your installment purchase payments fail and you incur late fees from them until payment is made . Either way, you have to be prepared to face more fees than you need or want.
Good credit can signify that your financial situation—and the rest of your life—is on the right track. This means your credit score can affect your insurance rates, what apartment you'll be approved for, and perhaps even whether you get that new job.
When logged in with an individual educator account (not a generic login or a Teacher Access subscription), you can find the Answer Key at the bottom next to the print and assign buttons.
Knowledge and vocabulary." BrainPOP's builds background knowledge and explains challenging topics across the curriculum in ways that are meaningful to students. Additionally, BrainPOP provides engaging activities to build content-related vocabulary and help students make connections.
- The most commonly used type of credit is... credit cards.
- The advantages of credit cards... convenience, safety, purchase protection, rewards, history of purchase, and building positive credit.
- The disadvantages of credit cards... ...
- Credit cards can be... ...
- Annual Fees. ...
- Annual Percentage Rate (APR) ...
- Credit Limit. ...
- Due Date.
It allows you to access funds, make purchases, and repay the amount at a later stage. The best part is that credit cards are widely accepted and offer great financial freedom if used judiciously. If you are new to credit cards, keep on reading to know more about them and their benefits.
What are 3 advantages of using a credit card over a debit card?
Credit cards offer many advantages, including cashback rewards and strong fraud protection. They can also be used to finance large purchases. If you're looking to build your credit history, getting a credit card could be a great option.
- you only spend what you have.
- you don't pay interest or fees.
- you may get a discount since merchants don't have to pay a fee to accept cash transactions.
- it may be faster and easier than other payment methods.
- it doesn't require equipment, internet or electricity.
- Interest charges. Perhaps the most obvious drawback of using a credit card is paying interest. ...
- Temptation to overspend. Credit cards make it easy to spend money — maybe too easy for some people. ...
- Late fees. ...
- Potential for credit damage.
No Debt – With a credit card it's easy to purchase anything you want, even if you don't have the funds. With debit cards, the money comes directly from your bank account, so you avoid spending more money than you have. Plus, you don't have to remember to pay the credit card bill once a month.
OneCard ensures the safety of your transactions with robust security measures that safeguard your card from unauthorised usage and fraudulent activities. You can control all the aspects of your OneCard right from the mobile app.
