Ask Question
6 August, 08:14

When is a long-term purchase on a credit card better than taking out a loan?

+5
Answers (2)
  1. 6 August, 08:20
    0
    When you know you can pay it back ...
  2. 6 August, 08:22
    0
    It would be better to use the credit card when the loan would have a higher interest rate than the credit card. For example, a payday money store loan has an interest rate of over 100%. Even a high-interest credit card of 24% would be a better payoff rate than the loan.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When is a long-term purchase on a credit card better than taking out a loan? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers