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Why Having a Credit Card Can Be a Good Thing

Credit cards. Those magic “all inclusive” passes to the world of buying things you can’t really afford with money you don’t actually have. I know I’ve warned you before about the evils of credit cards and credit card debt, but in the interest of fairness, there are always two sides to every debate, so to be fair I’ll tell you some of the reasons why having a credit card  can sometimes be a positive decision.

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How To Build Good Credit

Credit is something that is very important in our society and is the currency of financial trust.  If you do not have good credit, you have the potential to lose out on a lot of savings, investment opportunities, as well as jobs.  So in this article, we will go over the key points you need to know in order to know how to build good credit.

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How Credit Cards Work: Understanding Credit Cards

A credit card is essentially a loan from a bank that can be taken out at any time during your discretion.  When you use credit, you are effectively taking out a loan against the issuer of the credit card.  Therefore, you have an obligation to pay that debt.  A credit card issuer will impose a credit limit on you according to your credit score and credit history.  Those with a bad credit score will usually have a low credit limit as well as those without a credit history.  This is because there is always an inherent risk in loaning someone money.

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