Credit cards can be a good thing or a bad thing, depending on how you use them. Credit cards can charge you on many things, for example; reward redemption fees, foregin transaction fees, reward recovery fees, activity fees, payment protection fees, and paper statement fees, to name just a few. The average APR on credit cards is 18% per year. You can apply for a credit card by looking up the credit card company online and filling out an application, or wait until you get an application in the mail. Credit cards are convenient to use, you can use them for emergencies, you can use them to establish a good history, and use them for indentification. Credit cards also have negatives to them; they cost more if the unpaid balance isn't paid monthly, they can tie up future income, they tempt you to overspend and they can reduce future buying power. Three tips everyone should know about credit cards; they carge the highest intrest rates, you should only spend what you KNOW you will be able to pay back monthly, and don't exceed 30% of your credit card limit on your cards.
- Read this article to learn more about credit cards: http://www.indexcreditcards.com/creditcardnews/
- Watch this video to get more advice for to be safe with your credit cards: http://www.youtube.com/watch?v=wIgy24PTg2I
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