| Passage 10 Although credit cards are becoming a more acceptable part of the financial scene, they are still regarded with suspicion by many people as a major part of the "live now, pay later" habit. They provide encouragement to spend (1) money. Of course it is only the fool who follows the temptation to live, temporarily at least, (2) his means, and such people would no doubt manage to do so even without credit cards. Advertisers have, however, promoted a growing realization of the (3) of these small pieces of plastic. They do away with the need to carry large (4) of cash and are always useful in emergencies. All the credit card organizations (5) interest on a monthly basis which may work out as high as 25 percent a year, yet careful use of a card can mean that you obtain up to seve A. more B. the least C. much D. less [简答题]Credit cards enable their holders to obtain goods and services on credit. They are issued by retail stores, banks, credit-card companies to approved clients. The bank or credit-card company settles the client’s bills, invoicing him monthly and charging interest on any outstanding debts.
[填空题]People use credit cards on condition that they have ______.
[简答题] It seems like Americans use credit cards for everything. It’’s a lot easier to spend money that you don’’t see, isn’’t it Many Americans spend money that isn’’t even there — and get deeper and deeper in debt. Why do so many people spend more than they have "Buy now, pay later" has become an American way of life. Recently, American households spent nearly 11 billion dollars more than they earned, creating negative saving rate.
There are two ideas — one, living within your means, and the idea that living on debt is a great equalizer (平衡装置). They both have validity because it is important that someone live within their means over their lifetime. When people are young and they are earning money but they have very little savings, they almost have to borrow in order to own a house or own a car. But as they grow older, they should develop the habit of saving, so that by the time they reach the end of their earning life, they have savings to live on in retirement, and live within th
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