4.3 Credit cards

In this section:


Someone makes several credit card purchases planning to pay them off later

Credit cards offer great convenience. They allow you to avoid carrying large amounts of cash, put off paying for purchases until a later date and participate in rewards programs.

But credit cards also make it easy to let debts pile up, resulting in steep interest charges. And failure to pay your credit card bills on time can saddle you with a poor credit history, making it more difficult to get credit in the future.

This section is about credit cards. In it you will learn:

  • how credit cards work
  • how to choose a credit card that is right for you
  • the consequences of late or minimal payments, and how to avoid them
  • how to understand your credit card statement
  • how to keep your credit card safe from frauds and scams.

By the time you finish this section, you will know how to use your credit cards responsibly and safely. You will be better able to use a credit card to help you reach your financial goals, while avoiding the pitfalls that can result from irresponsible credit card use.

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