Credit cards can lead people into debt. They can take a long time to pay back and they can lead to a spiral of debt. However, there are advantages of having credit cards and ways to use them so that you can benefit from them. It is worth learning more about them and thinking about whether you can change the way that you use them to your benefit.
When you pay for things using a credit card the money does not have to be paid back immediately. You can wait until your bill comes in before you have to pay anything back. This can take up to six weeks and you will be expected to make a payment each month. The bill will show you what you have to pay and how much interest you will be charged if you do not pay back the full amount. If you pay back everything there will be no interest charge for that billing period but if you pay back less, then you will pay
If you do not repay the bill in full each month, then you will be charged interest. Interest on credit cards is quite high and it is best to avoid it if you can. Many people set up a direct debit so that their credit card is paid off in full each month. This is a great idea because it means that you should never be charged any interest for using it.