by 
barbusy
ANSWERS: 8
-
It's a card issued to you by a bank or some other lender that allows you to 'pre-spend' money. Basically, they will give you a limit - it could be as little as a couple of hundred dollars for a first time credit card, up to very large amounts of money - as a student, I have been offered a $25,000 card, so I can only guess at the numbers that very rich people play with. You can then spend up to this limit with the card, without having to initially pay anything to the bank or lender - but there is, as always, a very large catch. The card will probably have high interest charges and you will be required to make payments on the card depending on how much you have spent; the more you have spent and the less your repayments are, the more you will have to pay in fees and interest. I would suggest talking to a financial planner or a bank that is NOT offering you a card before taking one, as if used incorrectly, credit cards can cause much hardship.
-
Gives borrowers a revolving line of credit and lets them borrow against it, carrying a balance with an agreed-to interest rate.
-
You use it to buy stuff from the stores, it also called plastic.
-
evil
-
another term for a financial death wish
-
A little plastic card that comes with a whole lot of trouble and a high interest rate set up so that it's hard for you to get out of the aforementioned trouble.
-
A piece of plastic that is more trouble than it is worth. Avoid like your mother in law!!!
-
well, I think it will be useful for you to read articles in the site I found very interesting (learned a lot from them) - the link is http://www.creditcardflyers.com/credit-education They also sell cards, but the information section is very good. I use this site sometimes when giving answers here)))
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC