Money Talks E5: Let’s Talk Credit Cards

In Episode 5 of “Money Talks,” Lila talks about credit cards. Unlike a debit card, which draws directly from money you already have, a credit card allows you to borrow money from a card issuer with the promise of paying it back.

Important Takeaways

  • A credit card buys you time before having to pay for your purchase, which can be particularly useful in an emergency.
  • Credit cards can help you build good credit, showing that you’re responsible with money (while making it easier for you to get a larger loans with better rates).
  • If you pay your bill in full on time every month, you’ll get to enjoy all the benefits of building credit and earning rewards without having to pay any interest.

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