Credit Card
Categories: Banking, Metrics, Regulations
A little piece of plastic that lets you borrow money and pay for stuff.
When you charge stuff on your credit card, the company or bank that gave you the card pays for what you buy; you are basically promising to pay it later—with interest. Credit cards can help you build your credit rating and show companies and banks that you can handle money. Charge a few too many times at Chipotle and fail to make a few payments, though, and credit card debt can become crushing. If you decide to get a credit card, make sure you pay off the whole thing every month. Trust us.