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?

---

Definitions:

Bank Credit Cards

Financial instruments issued by banks that allow users to borrow funds from a pre-approved limit to purchase items or withdraw cash.

Bank Of America

A multinational investment bank and financial services holding company based in the United States, serving millions of customers worldwide.

Riegle-Neal Interstate Banking

Legislation passed in the United States in 1994 that allowed bank holding companies to acquire banks in other states, effectively removing barriers to interstate banking.

FDIC

Stands for the Federal Deposit Insurance Corporation, a U.S. government agency that provides deposit insurance to depositors in American commercial banks and savings institutions, protecting them against bank failure.