Course: What is credit?
6 minute read
The credit card comes in handy when he needs to buy books and materials for school. It’s great for ordering food when he doesn’t feel like cooking. He also uses the credit card to pay for bike repairs.
The credit card statements arrive, and at first, Chance pays them right away. But as the charges add up, he tucks the statements in his backpack to be dealt with later.
He receives notices regarding missed or late payments. More than once, the card is declined because it’s maxed out. On one occasion, Chance borrows money from his parents to pay off the balance, vowing to be more careful. However, charges keep racking up, and it gets harder and harder to make payments.
