which method of payment actually is a form of borrowing money that needs to be paid back later?
Which method of payment is actually a form of borrowing money that needs to be paid back later?
Answer:
The method of payment that is actually a form of borrowing money and needs to be paid back later is the credit card. When you make a purchase using a credit card, you are essentially borrowing money from the card issuer to complete the transaction. This borrowed amount needs to be repaid within a specified period to avoid interest charges. Failure to repay the borrowed amount can lead to additional fees and negatively impact your credit score.