Credit Card

A credit card is a card issued by a bank or other lender that allows the cardholder to borrow funds from the lender to pay for goods and services. The cardholder is billed for the amount borrowed, plus interest and fees, at the end of each billing cycle.

Credit cards are a convenient way to make purchases, and they can offer rewards such as cash back, points, or miles. However, they can also be a dangerous way to borrow money, as the interest rates on credit cards are typically high.

If you use a credit card responsibly, you can reap the benefits of credit cards without getting into debt. Here are a few tips for using credit cards wisely:

• Only use a credit card for purchases that you can afford to pay for in full each month.
• Pay your credit card bill on time, every time.
• Keep your credit card utilization ratio low (below 30%).
• Don't carry a balance from month to month.

If you find yourself struggling to pay your credit card bill, there are resources available to help you. You can contact your credit card issuer for help, or you can seek out credit counseling.