Credit Cards

Credit cards are a little something that more and more people have.  Credit cards allow people to do things that they normally wouldn't have been able to do with cash alone, like buying a house or car.  When you use a credit card at a store, it essentially puts it into an "account", which you'll be expected to pay back at a later time.  Here is some more basic info about credit cards.

Interest adds up the longer you take to pay off the loan.

Interest Rates and the Annual Percentage Rate: Like any firm or individual that gives out loans, interest is their way of making a profit.  When you use a credit card, you're essentially instantly taking a loan from the credit company.  When you pay this money back, you'll often have to pay interest on it; the amount changes from time to time, as well as from company to company.

Overcharge and Late Fees: There are consequences involved with credit cards.  If you fail to keep track of how much you're spending, or if you fail to pay off the credit card before a certain date, you will often find yourself having to pay even MORE back; remember, the credit company you got your card from is expecting to get their money back, and the longer they have to wait, the worse they'll make it for you.  Don't let the temptation of money given by a credit card be what takes away your house.

A good reason why you should keep track of your cards...

Getting a Credit Card, the Risks, and Tips: To get a credit card, you'll have to check out some credit bureaus and companies.  Make sure that you make a list of credit options and choose the one that not only gives you the best rates, but also has the benefits and payment plans that best fit your consumption style and needs.  The Federal Reserve Board's website is a great place to look and get some information from before signing onto a credit card plan.  Some natural risks that occur lie with identity theft, as well as malicious people stealing your credit card information and using it for their expenses - at your expense.  It's a good idea to always keep track of your receipts, keep your credit card info as secret as possible, avoid using it over the phone or online whenever possible, and to always keep backups of your credit card information, in case it gets lost or stolen.

For more in-depth information on credit cards, this article has a lot of information about it:
This article has a lot of in-depth info about credit cards
Credit Cards in the News
And a video about how to keep credit card information safe