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!!!!! WORTH 100 POINTS !!!!!

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OBJECTIVES:

What is the advantages and disadvantages of credit?


Name the places where you can get credit.


List 3 main types of charge accounts.

Respuesta :

abiolataiwo2015

One of the  advantage of credit is: Credit can help you to pay for expenses in a case of unforeseen  or unexpected circumstance.

What is credit?

Credit can be defined as borrowing  money from  a lender in which you are expected to pay at a due date

Advantage of credit:

  • Credit can help you to pay for expenses in a case of unforeseen  or unexpected circumstance
  • Credit tend to have loan interest rate.
  • Convenient.
  • It enables you to obtain  things right away.
  • It enables you to establishes a good credit rating.

Disadvantage of credit:

  • It can lead to high-interest rates if not paid  at the expected due date.
  • Fee charged for delay in  payments.
  • It is easy to misuse.
  • It can lead to higher temptation.
  • It can lower credit rating.

Name of places where you can get credit are:

  • Banks
  • Savings and Loan Institutions
  • Credit Unions etc

The 3 main types of charge accounts are:

  • Regular
  • Revolving
  • Budget

Therefore One of the  advantage of credit is: Credit can help you to pay for expenses in a case of unforeseen  or unexpected circumstance.

Learn more about credit here:https://brainly.com/question/13375913

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