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Problems facing users of credit - SS2 Commerce Past Questions and Answers - page 1

1

What problem may users of credit face if they accumulate multiple loan or credit card payments?

 

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A

Debt burden

 

B

Overspending

C

Credit score impact

 

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2

What are some additional costs that users of credit may incur?

 

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A

Interest charges and fees

 

B

Late payment penalties and fines

 

C

Impulse buying expenses

 

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3

What risk do users of credit face if they fail to make timely payments or max out their credit cards?

 

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A

Overspending and impulse buying 

 

B

Negative impact on credit score

 

C

Identity theft and fraud

 

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4

What problem can arise for users of credit if they fall victim to identity theft?

 

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A

Accumulated debt burden

 

B

Unauthorized credit card charges or loans

 

C

High interest charges and fees

 

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5

What issue may users of credit face if they rely on credit for purchases they cannot afford?

 

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A

Overspending and impulse buying

 

B

Identity theft and fraud

 

C

Difficulty managing debt

 

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6

Define the term "debt burden" in relation to users of credit.

 

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7

What is one potential consequence of a negative impact on a user's credit score?

 

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Problems facing users of credit - SS2 Commerce (Page 1) - EduPadi Classroom