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Prepared by Cathy Faulcon Bowen, associate professor, Department of Agricultural and Extension Education. Other publications available in this series are: Live Within Your Means, Compare Annual Percentage Rates, Know Your Credit Rights, Understand Credit Fees, Understand Grace Periods, The Fair Credit Reporting Act, Your Consumer Rights, and Pay More than the Minimum Read the rest of this entry »
Credit cards offer many features. There is the convenience of being able to buy needed items now and the security of not having to carry cash. You also receive fraud protection and in some cases rewards for making purchases. With these advantages also come responsibilities. You need to manage credit cards wisely by understanding all of the card’s terms and conditions; staying on top of payments; and realizing the true cost of purchases made with credit. Using a credit card is like taking out a loan. If you don’t pay your card balance in full each month, you’ll start paying interest on that loan Read the rest of this entry »