Credit cards can make it easier to buy things. If you don't like to carry large amounts of cash with you or if a company doesn't accept cash purchases
I'm Ryan, I'm getting ready to shop for Christmas presents. Good thing I have my credit card.
Oh no! Where did my credit card go?! I think I may have lost it!
Good thing credit cards offer additional protection if something you have bought is lost, damaged, or stolen.
Here's my credit card! Wow, look at that car! Maybe I should treat myself and buy a car for Christmas.
Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs. Having a credit card and using it wisely will help you build a good credit history.
I don't think I had enough money for everyone but I bought the gifts anyway. That's the downside to having a credit card, they make people spend money that they don't have.
REMINDER! You have to pay your credit card as this balance can go up!
Your current balance is $3,925.
Bank of Mahwah
BANK OF MAHWAH
So I'm at the bank now because I have to pay off my credit card for so much money. And the worst part is, I just found out that because I didn't pay off my balance, they're increasing the interest rate by 20%!
The biggest problem with rising interest rates is that the cost of borrowing money goes up. Another downside to credit cards...you have to pay off your balances.