Credit cards
are accounts that let you borrow money up to a certain limit. When
you use a credit card you are taking responsibility to pay the money
borrowed back, either all at once or by monthly payments. If you pay
monthly, you have to pay an additional amount called interest.
Credit card
companies ask you to at least pay the minimum each
month Minimum is the least amount of money you have to pay. If you
only pay the minimum amount required you will have to pay interest
as long as it takes to pay the entire amount. By only paying the minimum
amount each month, you would spend more then if you pay for your items
with cash.
Credit is
like trust, you have to earn it. If you are not responsible with your
credit card, and your credit card payments, your credit can be taken
away from you. Your credit history is recorded from the time you receive
your credit card until you cancel the card. What you do now with your
credit will affect you for the rest of your life.
As Credit
always says, “it’s not over till it’s over”
