The basics of credit cards
Credit card basics
- When you pay a portion of your credit card balance over time, you’ll be charged interest each month on the amount you still owe.
- Therefore, the total amount you end up spending on things may be higher than the purchase prices.
- If you pay your first credit card statement in full within the grace period, you’ll pay no interest, plus you’ll have your full credit limit to use again
Remember: Once you have a card it’s very easy to use it. But to use credit cards the smart way, you need to know the basics of what they are and how they work.
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