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T Q Search (Ctrl+ E ) JP X 3 W The Credit Card Trap Co Activity File Home Insert Layout References Review View Help Tell me what you want to do Comments .V Catch up Editing v Close Teams ? v D VF Times New Ro... V 12 ~ A" A" B J U BV AV VEEV Normal v Q v . . . Assignments Mini Reading: What Is Credit and How Does It Work? (10 minutes) Calendar Credit allows you to buy something now and pay for it later-usually with interest. Interest is extra money you pay the lender for using their money. OneDrive For example, if you charge $100 to your credit card but only pay the minimum amount each month, you could end up paying $120 or more over time, depending on the interest rate. Credit cards can be helpful tools when used wisely. They can help build your credit score if you pay on time and stay below your limit. However, using credit carelessly can lead to debt-which Copilot means you owe more than you can easily pay back. . . . + Questions to think about: Apps 1. What does it mean to "pay interest"? 2. Why might someone end up paying more than they borrowed? 3. Why do people still choose to use credit cards? Page 1 of 3 543 words English (U.S.) Text Predictions: On Editor Suggestions: Showing + 100% " Fit Give Feedback to Microsoft 7 26.C 1:56 PM Mostly cloudy Q Search O T S X O 10/7/2025