Sharese thinks that it is about time for her to get a credit card. She would lik

Question

Sharese thinks that it is about time for her to get a credit card. She would like to buy a car in the not-too-distant future and knows that she needs to establish a credit history. She has received several offers in the mail and has downloaded offers from several card companies from card websites. As she reviews the various offers, she finds that the process of evaluating cards is more complicated than she expected. To help her out please answer the following questions: 1. What questions should a consumer ask before accepting a credit card? 2. What are the advantages of building a good credit history? 3. What are the disadvantages of having access to credit? In 75 to 150 words .

Explanation / Answer

The following Questionsb a consumer should ask before accepting a credit card:-

1) The benefits from such credit card are exceptional in reality.

2) What is my intension of using the credit card.

3) Is the benefits from the credit cards in terms of point are easily to redeem

4) is there any hidden fees or cost in the credit card

2. Advantages of building a good credit mHistory are:-

It makes the person trustworthy. He is allowed to get more credits, more customers and hence more benefits.

3. Disadvantage of having access to credit

It leads to increase in expenses to a very higher extent, Makes savings low.

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