Back to Basics – Credit Cards

This week we’re talking about a type of debt almost everyone is familiar with: credit cards. Americans owe a total of over $800 billion in credit card debt. The median debt per family is almost $3,000. It’s a lot of money, and it affects a lot of people.

Credit cards can be very tempting with their promise of “buy now, pay later.” They can, and do, get a lot of people into debt they’ll spend a long time getting out of. But you don’t have to avoid them completely. If you only buy things you can afford and completely pay off your card every month a credit card can earn you rewards like airline miles or cash back and not cost you a cent extra. If you want to learn more about how credit cards work and how to make them work for you, keep reading here.