Advatages and Disadvantages of Consumer Credit

In: Other Topics

Submitted By melissacraft
Words 263
Pages 2
One advantage about consumer credit is being able to buy something and pay for it latter. A lot of furniture store have consumer credit so that you are able to still buy the merchandise and they basically double their money for the purchase. Now days with the economy like it is a lot of people have to live bigger then they can offered to just to be able to get by. Being able to use consumer credit helps people out a lot so that people are able to buy the product and then pay for it monthly. A lot of people tin the society has a limited income and this gives the chance to be able to buy items and pay when they agree to.
There are also disadvantages with using consumer credit such as increase of cost. When you are looking into buying a product there are many things that you should consider such as what the interest rates are, how long will it be before the item is paid off, you should also shop around, will the item(s) last as long as it will take to pay the item off. When going to a place that claims to be the cheapest and that they are able to beat any other competitors prices all ways look into your options sometimes an item is cheaper because it’s made cheap. Also all ways remember that weather you have good or bad credit it’s yours forever and it can be very hard to change no credit to good and bad credit to…...

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