answersLogoWhite

0

credit cards charge very high interest rates and their use tends to be habit-forming

User Avatar

Wiki User

11y ago

What else can I help you with?

Related Questions

Why is credit card debt often consider to be the most dangerous type of debt for consumers?

credit cards charge very high interest rates and their use tends to be habit-forming


Why is credit card debt often considered to be the most dangerous type of debt to consume?

credit cards charge very high interest rates and their use tends to be habit-forming


What companies offer home equity loans to consumers with poor credit?

A number of specialist credit companies offer home equity loans to consumers with poor credit. However, this usually comes at a cost, as the interest rates offered are often disproportionally high. A few companies offer lower rates to consumers with poor credit if a friend or relative can act as an additional guarantor to the loan.


How often can you pull your credit report?

The credit report holder can check his or her report as often as they choose. When you check your credit report it is considered a "soft inquiry" and will not affect your status.


Is Cape Town in South Africa considered a dangerous city?

Cape Town in South Africa is considered to have high levels of crime and is often regarded as a dangerous city.


What is the definition of credit card debt?

Credit card debt occurs when a consumer uses their credit card in excess and are unable to pay the bill. Often times the consumers has more than one credit card and they use them all and get into more debt.


Where can one get a credit report for free?

At Annual Credit Report consumers can obtain their credit report from the three major reporting agencies for free. This is protected by a law that was passed in congress several years ago. Other sites advertised often ask for a credit card.


How often does your credit report get updated?

Credit information is forwarded to the three major credit reporting agencies by lenders and creditors, so the exact reporting varies. Usually it is reported monthly. This makes it important for consumers to have access to credit information on a regular basis.


Is credit considered a type of loan?

Yes, credit is considered a type of loan because it allows individuals to borrow money or make purchases with the agreement to pay it back later, often with interest.


Where can one get bad credit or no credit loans for car financing?

Many car dealerships offer financing for people with bad credit or no credit history. These loans will have a higher interest rate because a person with a bad credit history or no credit history is considered are often considered to be high risk. Checking with a local dealership will determine if the offer this service at their location.


Are bonobos dangerous animals?

Bonobos are not considered dangerous animals. They are known for their peaceful and social behavior, often resolving conflicts through non-violent means such as grooming and sexual activity.


What sort of services can be accessed with bank cards?

Bank cards, or credit cards, are typically used to transfer cash between two parties. Consumers often carry credit cards, which is more convenient than carrying several bills on one's person.