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Advantages and Disadvantages of Credit

Advantages and Disadvantages of Credit. Take Charge. Disadvantages. Interest can be costly when a balance is revolved Additional penalty fees may apply Tempting to overspend If not used responsibly, it will have a negative impact on your credit score. Advantages. Convenient payment tool

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Advantages and Disadvantages of Credit

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  1. Advantages and Disadvantages of Credit Take Charge

  2. Disadvantages • Interest can be costly when a balance is revolved • Additional penalty fees may apply • Tempting to overspend • If not used responsibly, it will have a negative impact on your credit score

  3. Advantages • Convenient payment tool • Useful for emergencies • Often required to hold a reservation • Able to purchase “big ticket” items and spread out payments • Protection against fraud • Opportunity to establish a positive credit history • Online shopping is safer (than using a debit card) • Possibility of receiving bonuses

  4. Make sure you handed in your assignment • Docushare • Created a folder • Googledocs • Shared with me?!?!

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