Financial Education: Charge It Right
Applying for Credit Cards
Paying Your Bill
Keeping a Record
Charge It Right
Using a credit card can be both a convenience and a necessity. However, many people
get into trouble by not using a credit card wisely.
Credit cards are a convenient form of borrowing. People generally use credit cards
to purchase goods and services. Credit cards represent a revolving line of credit.
This means you can make an unlimited number of purchases, up to a pre-approved dollar
limit. You must pay a portion of the balance every month. Before you decide to apply
for a credit card, decide what it will be used for. Keep in mind a credit card is
not free money. It is a loan you must repay.
When you decide to apply for a credit card, it is very important to read all disclosures
and understand the terms of your credit card agreement. When you have completed
this course, you will be able to describe the costs and benefits of using a credit
card. You will know: