History of Credit Reporting
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Questions and Answers

What is the main factor that affects the finance charge a purchaser must pay?

  • Sales credit
  • Amount of credit used (correct)
  • Advantages of using credit
  • Service credit
  • Which factor plays a significant role in determining the total finance charges paid by a purchaser?

  • Length of repayment time
  • Disadvantages of using credit
  • Annual Percentage Rate (APR) (correct)
  • Cash credit
  • In terms of credit, what is another name for a loan?

  • Sales credit
  • Service credit
  • Cash credit (correct)
  • Disadvantages of using credit
  • What does the text imply about the relationship between using credit and interest payments?

    <p>The more you charge, the more interest you pay</p> Signup and view all the answers

    What advantage does using credit offer in terms of emergency expenses according to the text?

    <p>A source of cash for unexpected expenses</p> Signup and view all the answers

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