22-10-2021
Business

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John is on a tight budget. He has a credit card with a very high interest rate. Most months he struggles to make the minimum payment on the card. He is eligible for an upgrade on his smartphone and it will only cost him $400. He doesn’t have the cash but could put it on his credit card. Why might this purchase be a risk

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greenehanes greenehanes

22-10-2021

Answer:

because he will be in debt with the credit card again most likely not being able to pay that debt so interest will add on and put Jim further in debt. which is never good

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