Credit Cards

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Remember, you don't own it, you OWE it!

You’ve probably heard the term “plastic” to describe credit cards. Millions of Americans use credit cards everyday for their online and in-store purchases. They are convenient and help their owner avoid carrying around large amounts of cash.

Credit cards are also a temptation to spend more than you can afford and remove that physical link between you and your money (or lack therof!) that can be a brake to spending.

At best, if you pay balances promptly, they can pay you cash back or gain airline or hotel points while you have a bank give you an interest-free loan for up to 30 days. At worst, they can plunge you into almost insurmountable debt if you don’t use them wisely.

Read about helpful guidelines to prudent use of credit cards here.

Calculate how long it would take you to pay off credit card debt using our calculators.