How credit cards work? – A great financial lesson

Learning how credit cards work requires a considerably steep background in economics and accounting. However, a simplified version of how credit cards work is that they lend you money which you then need to pay back to them by a set date (at least a minimum payment). Credit card issuers may be your financial institution, a credit union, or another financial organization. When you're successfully issued a credit card, be aware that this is not free money. You are being lent funds as a way to Read more [...]