Credit Cards Are Not What You Think

This is what you need to know!

The Cons of Using a Credit Card

Credit cards are hard to set up, especially with choosing which banking company you should get your credit card from. Credit cards basically allow you to borrow someone else's money (usually the card issuer's.) They are used in which you borrow the money and pay the money back later. Though, you usually have a limit from 15 to 45 days to be about to not pay the interest rate that could be put on your balance. A 500 dollar balance could take up to two years to pay if there was an 18% interest rate; according to the article.

The Pros of Using a Credit Card

With a credit card you have some advantages than using a debt card. With a credit card you can spend more than you have, or postpone paying for something with your own money. You basically can buy things, without using your own money, then pay back later. You typically get better rewards by companies who provide cards like Discover©. You usually get better protection than you do with debit cards too.

Credit Card User Tips

To get the best out of your credit card without actually hurting your economical status, here are some tips. Choose a "plain-vanilla" card with no annual fee and the lowest annual interest rate available. Some credit card companies make you pay and annual fee for using their credit card. They add interest rates to gain more money from you if your late on your payments; you don't want that do you? You can use websites like or to compare different credit or debit cards to see which is the best for your current economic status.