Question

Buying on credit means you are borrowing money. *

True
Fals

Answer 1

True buying on credit means its not really your money

Answer 2

Answer:

Yes

Explanation:

Using a credit card is putting off the payment for an item. It is borrowing the money from the credit card company until the bill comes due at the end of the month. If you can't pay the total at the end of the month, that is when interest comes in and that is how the credit card company makes it's money.

Side note: The Cleveland Browns expansion team was purchased in 1999 by Al Lerner. He owned MBNA credit card company and used the money paid in interest from his card holders to pay $530,000,000 for the team! Yes, you are borrowing money!!!