When Applying for a Credit Card, the Amount of Savings

question 113

True/False

When applying for a credit card, the amount of savings that you have will not be a factor in the credit card company's decision.

---

Definitions:

Social Dilemma

A situation in which behavior that is rational for the individual can, when practiced by many people, lead to collective disaster.

Collective Disaster

A catastrophic event that affects a large group of people, often leading to widespread damage or suffering.

Nuclear Proliferation

The spread of nuclear weapons and nuclear technology to nations not recognized as Nuclear Weapon States by the Treaty on the Non-Proliferation of Nuclear Weapons (NPT).

Tragedy Commons

A situation in which individual users, acting independently according to their own self-interest, deplete or spoil shared resources, despite knowing that it is contrary to the group's long-term interests.