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POB 8.03 Credit-The Good and the Bad

AB
The ability to avoid long lines at the gas station is made possible by credit. This is an example ofConvenience
Buying goods and services on credit:Enables a customer to have expensive items now
When a person owes money, a judgement means his/her may be:Garnished
If a person fails to repay a boat loan, what will the bank do to the boat?Repossess
The BEST use of credit would be:Paying for medical emergencies.
Another name for interest paid on a balance is:Credit fees.
Which is NOT an advantage of credit?Overbuying
Which is a DISADVANTAGE of using credit?Overbuying
Which is NOT a result of overusing credit?Immediate possession.
If a person fails to repay a car loan, what will the bank do to the car?Repossess


Teacher
Garinger HS New Technology Academy
Charlotte, NC

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