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Financial Literacy 101: Credit Cards Explained
Posted
September 15, 2021
Views
25
September 15, 2021
25
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0:56Now PlayingCredit cards are great until they are not. Check out the video to learn why!
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
The Great Recession has demonized credit cards to many millennials. They are but maybe not as dangerous as you might think.
Truth is, using credit cards is one of the best things you can use for your finances. Importantly, only if you do it right. You should use your credit cards like cash and use it for everything. Then use your actual cash to pay it off at the end of the month.
With a lack of financial literacy, many millennials don't know the benefits and dangers of credit cards. Using a credit card responsibly proves to a bank that they can trust you with their money. When you need a loan, to buy a car, or a house, the banks will be willing to give you a large loan with low interest rates.
But if you spend more than you can afford, your credit score can plummet and you will be in a lot of trouble. This is why it’s important to budget and save your money so you can properly prepare for your future.
Do you use credit cards? Or are you too scared to use them? Let us know in the comments below!
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