13
AssignmentMultiple Select

Financial Responsibility

Question 13 • Personal Finance - EL3403

Which questions should Freya answer before using a credit card? Check all thatapply.

Answer
A
Can I pay at least the minimum payment each month?
B
Can I make payments on time and avoid late fees?
C
Will I have to take out a loan?
D
How much in finance charges can I afford to pay?
E
Should I talk to a consumer credit counseling service?

Explanation

Before using a credit card, Freya should check whether she can afford the required monthly payments, make them on time, and handle the finance charges. These questions help her avoid late fees and costly debt. Taking out a separate loan or contacting a credit counseling service is not a basic question she needs to answer before using the card.

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