MCS 2100 Chapter Notes - Chapter 5: Debit Card, Revolving Credit, Payment Protection Insurance

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 2100
• Professor: May Aung

Document Summary

If you continually deplete your savings, little will be left for emergencies or retirement income. If you spend your current income on luxuries instead of necessities, your well-being will eventually suffer. If you pledge your future income to make current credit purchases, you will have little or no spendable income in the future: consumer credit works because people, by and large, are honest and responsible. Advantages of credit: enables you to buy goods and services now a car, home, education, help in emergencies. 83% of canadian households carry one or more. Benefits of credit cards month: short-term, no-interest loans when making a purchase if you pay off the balance each, several reward credit cards earn different types of rewards, rebates, or points. If you find unusual charges call the toll-free number again. If billing statement is incorrect, or your credit cards are lost or stolen, notify issuers immediately. If you don"t receive your billing statement, notify the company immediately.