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 Form 2 business studies revision questions and answers set 3

Credit cards are increasingly being used in transactions in Kenya. Highlight four disadvantages of using credit cards.

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Answer Text:
-Prone to fraud that leads to lose of carbon
-Common in towns and not in rural areas
-Only few businesses accept the card therefore not widely used
-Long procedures are involved which discourage many people
-High interests/ penalty is charged when one delays to pay which is expensive