What is credit? How does it work? How will it affect me? These are all important questions each of us needs to ask ourselves. It is better to learn this important information now, then suffer the consequences later.
Credit cards are a part of everyday life and the reality is you need to understand how credit cards work, and then with this knowledge make good choices.
|Credit cards when used well can be:||Credit cards when used poorly can:|
Each month you will get a bill from your credit card company. We are using an invented statement; though yours may look slightly different, all bills will contain similar information.
You can also expand the Glossary of Terms below to view all definitions.
When you have an outstanding balance, it’s important to understand all the components that go into paying it off in a timely fashion. It’s also important to keep in mind the interest rate, the minimum monthly payments and the time needed to pay it off.