Banking

Credit Cards

How do credit cards work?

  • Credit cards are very simple. Once you have applied and received the card you can spend money on items
  • you can not go over the limit
  • The money comes from any bank and you have to pay them back.
  • You have to be 18 years old to have one

Are credit cards good or bad?

  • It is good because you purchase things that you do not have the money for.
  • But, on the other hand it is bad because you have to pay back more money than you spent.

In reality many customers are unable to take advantage of these benefits because they carry a balance on their credit card from month to month paying a finance that can go up to 23%!

Bailey Ingle