1-Explain how a credit cardholder has an interest free loan on their new purchases. When does this occur? How can the cardholder get it? [Note: This has nothing to do with a promotion or enticement or an introductory offering]

2-Compare and contrast a debit cards to writing checks. How are they the same? How are they different?

3-Why do lenders charge higher rates of interest on unsecured loans than on secured loans? Define EACH and EXPLAIN.