Question

Read the following passage carefully :

Ask people whether credit cards are a necessity or a luxury and most would probably

term them a necessity these days. Credit cards are considered a boon for the ready

convenience they confer on the user - you don't have to worry about carrying enough

cash when you go shopping. Just flash your card, sign and walk out. But there are

many who criticise credit cards for the 'easy money'. syndrome they generate. It is

true that many people fall into a debt trap. But if you're careful with your expenses,

they can be a handy thing to have around.

Remember that using a credit card does not mean 'free' credit. In effect, what you are

doing is merely postponing payment. While it looks real good to have to pay only one

or two thousand a month on your card, remember that you're paying interest on the

amount that you 'revolve' from one billing cycle to the next.

But there's one precaution we should add. Always settle a credit card bill in full for two

reasons. First and foremost, if you are not able to pay up now, you should not have

spent it in the first place. Second, the credit charges tend to be extremely high,

ranging from 2 per cent to 3 percent month.

There is no shortage of cards on offer. So, how does one choose among the various

cards on offer ? "The factors for choosing a card revolve around certain differentiating

features that one card may offer and the others don't, like acceptability, eligibiliy, fees,

other charges, credit period, cash advance, etc."

If your credit card is more of a functional accessory while you shop or entertain in your

own town, you will want a higher credit limit. Here, foreign and private banks will give

you a higher limit. But if you are a value-for - money person who likes the convenience

offered by a card, but will alternate between paying by cash and card, you could

consider credit cards offered by the public sector banks.

Complete the statements given below :

(a) Credit cards are considered a boon because __________.

(b) A credit card does not mean _________.

(c) The credit charges tend to be extremely high, ranging from __________.

(d) Some people don't like credit cards because of the __________ generate.

(e) banks will give you a higher limit.

(f) The credit charges are very high __________ per month.

(g) Choice of a credit card depends on its __________.

(h) If you are not able to pay up your credit card like you should __________.

Answer 1

a) ready
b) free credit
c)ranging from 2 percent to 3 percent month.
d) the eligibility fees.
f) 2 to 3 percent month.

hope its help you.

Answer 2

Answer:

(a) Credit cards are considered a boon because ___of ready convenience__.

(b) A credit card does not mean __you are using free credit___.

(c)The credit charges tend to be extremely high, ranging from __ 2 per cent to 3 percent month____.

(d) Some people don't like credit cards because of the ___dept-

charges __ generate.

(e) Banks will give you a higher limit ___on credit card__.

(f) The credit charges are very high __from 2 per cent to 3 percent ___ per month.

(g) Choice of a credit card depends on its ___acceptability, eligibiliy, fees, ___.

(h) If you are not able to pay up your credit card like you should __not have spent it in the first place____.