You could have to pay interest if you finance a purchase, and this might mount up.When you pay with cash or a debit card, you will only be required to pay the purchase price.
Which is preferable, paying with cash or a credit card?
- You might pay interest if you finance a purchase, and interest charges might mount up.When you pay with cash or a debit card, the whole cost of the purchase is all you'll pay.You can prevent interest costs on new purchases by making cash payments.
- Additionally, if you have activated a penalty APR on your credit card, it could be a good idea to pay with cash since additional charges could result in interest charges of nearly 30%. There are certain drawbacks to using credit as well.
- Credit almost always carries a cost.You must assess if the item is worthwhile considering the additional cost of interest paid, the rate of interest, and any fees that may apply.
To learn more about credit card refer
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