2.Credit card
a.Define credit card
b.How is it structured
c.What are the requirements to obtain a credit card
d.What are the costs/fees
2007-03-06 05:26:25 · 1 answers · asked by Anonymous in Business & Finance ➔ Credit
a. You pay for all of the purchases received in a month at the end of the month instead of as you go.
b. If you pay the card off each month, you do not need to pay any interest or other fees.
c. You need to have some credit already established (nice hunh?) You can get some small loans to get this started. You can pay them back easily and start building the good credit.
d. Some credit cards have annual fees; avoid them. You can go to just about any bank/credit union to get a card. If you carry a balance on the card, you will be paying a pretty high rate of interest. Typical rates are anything from 9-25%.
2007-03-06 16:42:53 · answer #1 · answered by JJ 5 · 0⤊ 0⤋