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I received a lot of money for my graduation, and I want to go to the mall to buy a new laptop. Even though I have the cash, it might still be better to use my credit card to pay for the laptop.

A. True
B. False

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Financial Literacy Quiz

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Answered on Sep 08, 2016

True-> using a credit card to make purchases offers several advantages over paying with cash.> for example, most credit cards offer some form of protection if your card is reported stolen or missing, while cash cannot be replaced if lost or stolen. > using a credit card may also give you some form of buyer protection if you purchase an item that is defective. > if you pay by credit card, you will be charged interest on your credit card balance. on most credit cards, you will not pay interest if you always pay off the entire balance - not just the minimum amount due - by the due date.

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