List the Five Benefits or Advantages Associated with Credit Cards

question 50

Essay

List the five benefits or advantages associated with credit cards.What are the two major disadvantages?

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Definitions:

Supply of Savings

The total amount of income that households choose to save and not consume, available for investment purposes.

Interest Rates

The cost of borrowing money or the return on savings, typically expressed as a percentage of the principal.

Investment

The activity of allocating resources, usually money, with the expectation of generating an income or profit.

Rate of Interest

The percentage at which interest is charged or paid on a loan or investment over a period of time.