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? Marshall-Graduated college two years ago, and now lives a solidly middle-income lifestylePaying his student loans, rent, and all of his other expenses on-time• Has 6 credit cards open already, each of which he signed up for because of introductcperks like 0% interest for the first year, free airline miles, and 20% off his first month'spurchases at his favorite storePays his full balance each month and stops using the card once the initial featuresexpire.• Wants to open a 7th card that's offering free one-way flights to the Caribbean; hasenough money saved to pay for the return flight and other aspects of the vacation●●●

Credit cards are a type of payment card that allow individuals to borrow money up to a certain…

Answered: Should this person open a credit card…

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?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of Deposit b. Money Market Checking Accounts c. Money Market Savings Certificates d. Future-dated checks
how can using a mix of Accounts Receivable, Notes Receivable and accepting Credit Cards can benefit your business
How can money be deposited into a Spruce account? Tax refund. Direct deposit. Linked bank account. All of the above.
What are some benefits to a business in accepting credit cards and debit cards?
2. Should people have more than one credit card? Explain.
Many people are still afraid and hesitant to utilize online payment systems or digital banking to pay for their bills, exchange money for their desired goods and services, and rely on the manual, face-to-face payment system. How would the banks encourage more people to lessen their doubt about these methods and utilize the modern payment system for safer, faster, and more efficient transactions? Support your answer using at least two concrete examples.
Which one of the following is true of a signature card? A. It is the same as a deposit receipt and acts as a proof of the deposit transaction. B. It can be used as a debit card. C. It can only be used for bank accounts of individuals, not for the bank accounts of businesses. D. It shows each authorized person's signature for a bank account.
Are there any regulations or procedures in place for source documentation and receipts for payments or purchases made by the nonprofit organization? Is it any difference whether you pay with petty cash, a cheque, or a credit card?
Your friend Binna has a money market mutual fund account, automatic deposit of her paycheck into an interest-bearing checking account at the company credit union, and a CD from the local branch of a bank that advertises "coast-to-coast" banking. What is the benefit of "mixing and matching" financial institutions and their services?
Provide an example of each of the following; Conspicuous consumption Information you will need to fill out an application to rent an apartment A government agency you can contact to file a fraud complaint A way to prevent fraud on your credit card A way to protect yourself from identity theft
Why do you think businesses extend credit to customers thereby creating accounts receivable?
Why it can be dangerous to provide credit card information over the internet? Does it stop the risk if you only use credit card at local business?