Antoine applied for a credit card. The bank offers him a very low line of credit and a high interest rate. He has some savings but wanted a card in case of emergencies. What should he do?

Question

Antoine applied for a credit card. The bank offers him a very low line of credit and a high interest rate. He has some savings but wanted a card in case of emergencies. What should he do?

• Take the card and use it whenever he wants.
• Get the card if he can afford the monthly payments.
• Take out another loan to build a stronger credit history.
• Reconsider why he wants a credit card since it is not a good deal.

Answer 1

Antoine should reconsider why he wants a credit card since the one being offered is not a good deal. It is important to carefully evaluate the terms and conditions of any credit card before accepting it, especially the interest rate and line of credit. If he has savings for emergencies, it may be better to continue saving rather than take on a high interest credit card. He could also explore other options such as a secured credit card or a different financial institution that may offer better terms. Taking out another loan solely to build a credit history may not be the best solution. It is important to prioritize financial health and make informed decisions when it comes to credit.