Using credit might seem easy. You buy a new pair of shoes, gas for a road trip, or pay for dinner by simply handing over a credit card and signing a receipt. Using credit allows you to pay for things you do not have enough cash to cover or it allows you to spread your payment over a couple of months. But you want to be sure the way you're using credit is better for you than it is for the credit provider.
What should I be looking at in choosing a Credit Card? Before you use your shinny new credit card or apply for one make sure you know the following things about that card.
What to avoid if you have a Credit Card? Before you use your shinny new Credit Card or apply for one make sure you know the following things about that card.
Tired of Getting Constant Offers for Credit Card Offers? There is legislation that can help you stop receiving unwanted mail. To opt out of receiving pre-approved credit card offers in the mail, visit www.optoutprescreen.com.
Did you know: 70% of college students have at least one credit card and of those students only 10% pay off the full balance each month.
In return for using borrowed money, like a credit card, you agree to pay back the principal plus interest. Interest is charged on any unpaid balance which is calculated at an Annual Percentage Rate (APR). This is where you can use credit cards to your advantage if you pay off your credit card in full at the end of the month.
Danger! Credit Cards give you revolving access to a fixed amount of money, called your credit limit. Revolving means that as soon as you repay the amount you have borrowed, you can use it again.