Question

What does a person need if he or she is not able to pay for a planned purchase in full with a check or cash? A. a credit card B. a good credit score C. a long-term loan from a bank D. an interest-free loan from a credit union

Answer 1

Answer:

A. a credit card

Explanation:

A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.

Generally, there are three (3) main types of credit card and these includes;

I. Debit card.

II. Prepaid card.

III. Retail charge cards.

A person needs credit card, if he or she is not able to pay for a planned purchase in full with a check or cash.

In conclusion, businesses or companies that avail their customers the opportunity to pay using a credit card will experience an increase in the number of customers that would patronize them because they are typically buying the goods and services on credit.