comp week 7 - On the other side of this, sometimes the...

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When I shop I make sure to think of everything from the item to the cost after the interest rate I will have when paying with my credit card . The way the economy is, my family needs to save money so that we can still live and not stress to pay an arm and leg for a small purchase. Sometimes when we purchase items on credit it becomes more of a problem. If I don’t have the money when I purchase the item and still put it on credit, down the line I might not be able to pay it back. Then the interest rate goes up, I in turn have to pay a higher payment which may cause more stress.
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Unformatted text preview: On the other side of this, sometimes the interest rate on something is so low its almost like not having to pay interest at all . This is usually due to someones credit score. The better your credit the lower the interest rate most of the time. This is a time when I definitely take advantage of this break. Its not very often that it happens, but when it does it usually saves a considerable amount on the purchase. These are just a few things I take into consideration when I pull out my credit card....
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This note was uploaded on 04/26/2011 for the course HCA 220 taught by Professor James during the Spring '08 term at University of Phoenix.

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