Credit Cards have been getting a bad rap
over the last few years. Sure - it's really easy to go a little crazy and rack
up thousands of dollars in charges, sometimes even in a single day. Sure - it's easy,
but that doesn't mean you have to do it. Unless you're 15 years old, the chances are
that you've borrowed money before, and hopefully you've repaid it. And even more hopefully,
you've learned a thing or two about borrowing while you were repaying the loan. For most of
us, borrowing money and paying it back is something we'll do throughout our life. It's the American way,
and we Americans love our credit.
Unlike people, not all credit cards are created equal !
Interest rates can rise and fall pretty rapidly sometimes, and the great deal you got last August may not be the best deal going today. Keeping track of what type of institutions are offering what kind of rates can be a full time job. Luckily enough, we're in the age of computers, and we can help level the field. Here are a few helpful links:What are the main differences between credit cards?
Most people concern themselves with the card's interest rate, and the credit limit. In theory, a credit card with the lowest interest rate and the highest credit limit is the best. High credit limits are not always the best choice for everyone though. There are times when having a low credit limit can save you the expense of impulse purchases. Handing some clerk in a store your credit card and saying "Charge It" can be a really easy thing to do. So easy in fact, that many companies have designed structured limitations on certain types of cards. A little structure can go a long way . . .