To have a smoothie with breakfast more regularly, Jordan decides to buy a new blender that cost $59. Jordan can pay with cash, by debit card, or by credit card. Compare and contrast the payment methods Jordan must choose among. Decide which one will help Jordan avoid paying potential fees or interest on the purchase.(1 point)
Responses
debit card
debit card
cash
cash
credit card
credit card
Jordan can use any of the three payment methods without worrying about paying potential fees or interest.
Debit card: When using a debit card, Jordan can make a direct payment from their checking account. This means the money is instantly deducted from their account without incurring any fees or interest. This is a convenient and straightforward method as long as Jordan has enough funds in their account.
Cash: Paying with cash is also a fee-free method. Jordan simply needs to have the exact amount to pay for the blender. This method does not involve any additional charges or interest.
Credit card: While paying with a credit card is convenient and provides an opportunity for rewards or cashback, it can potentially lead to paying fees and interest. If Jordan doesn't pay off the balance in full by the due date, they may incur interest charges. Additionally, if Jordan goes over their credit limit or makes a late payment, they could face additional fees.
Based on avoiding potential fees and interest, using a debit card or paying with cash would be the best options for Jordan.