Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor or use caution?
Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor or use caution?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Should this person open a credit card account? If they do decide to open the new credit card account, what’s one thing this individual should monitor or use caution?
Transcribed Image Text:J
Crystal-
• Took time off after high school and during the first year, worked full-time and moved out of
her parents house
• Is responsible for her own expenses
• Took out a large car loan which she quickly fell behind on in payments
• Overdrew her checking account numerous times, spending money she didn't have to live
a fun, carefree lifestyle
●
In year two, traded in the car for a much cheaper one, settled her outstanding debt on the
car loan, and put herself on a much stricter budget
• Now moved back in with her parents and enrolled in community college
Considering applying for her first credit card
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