1. What is a credit card? It is not your own money. It is money lent to you by a bank up to an approved limit. Every purchase you make with the card is debt you must repay later. 2. How it works in practice 3. Key terms 4. Simple example You buy $5,000 with your card. 5. Pros 6. Cons 7. Golden rules Summary: A credit card is a useful tool if you use it as a payment method and pay on time. It becomes expensive and risky if…
Read MoreSimple guide: How credit cards work
