CREDIT CARDS – The Good, The Bad & The Ugly

CREDIT CARDS – The Good, The Bad & The Ugly
THE GOOD
May be used as a tool for building your credit score. May be used for rewards.
THE BAD
Many pitfalls exist to the above and these companies ultimately want to charge you interest, charge you fees and make money from you.
THE UGLY
The fact is credit card companies make their money when you make financial mistakes with your credit card and thus encourage you to fall into debt. Rates are extremely high, minimum payments are set very low to encourage further amounts of debt and most households had to climb out of credit card debt before ever getting on track toward their financial goals.