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1. What are credit cards? Why do people use them?

2. What is interest? How does interest affect credit card purchases?

3. What are the benefits of using a credit card? What are the drawbacks of using a credit card?

4. In the case files section, four people pay a different price for the same digital music player? Why do the prices they paid differ? Explain the factors that affected each person’s ultimate cost for the music play.

5. Which of the individuals made the best use of their credit card? Which made the worst? Why?

6. What should you look for when choosing a credit card?

7. What is a “grace period”? How can it help you manage a credit card wisely?

8. What are three strategies that you can use to use credit cards wisely?

Sagot :

Credit card is used to borrow cash when needed on some interest rate.

What are credit cards? Why do people use them?

Credit cards are the type of cards that allow you to earn cash or other rewards for those things you buy daily. People use them because of the rewards as well as due to valuable budgeting tools.

What is interest? How does interest affect credit card purchases?

Interest is the price you pay to borrow money from a person or bank.  Interest affects credit card purchases because low interest rate is good for the people so people purchase it more.

What are the benefits and drawbacks of using a credit card?

The benefits of credit card is that they're a great way to build credit. It is more secure than cash. It gives rewards Points while on the other hand, the drawbacks of credit card is high cost of borrowing and too many Credit Cards can damage your credit.

So we can conclude that credit card is used to borrow cash when needed on some interest rate.

Learn more about credit card here: https://brainly.com/question/6872962

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