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Credit Cards

Credit cards are a useful way to avoid carrying around pockets of cash or cheque books. And they are a great way to get up to 60 days free credit, along with the reward scheme points.

However, they are also a trap for those not good at managing their credit. If you cannot pay off your whole credit card balance at the end of each month, you are spending too much - it's that simple.

When you make a purchase or pay a bill with your credit card, the amount is not debited from your bank account. Instead, you are issued a monthly statement which includes both the total balance outstanding and the minimum amount you must pay that month. It also gives you the payment date.

This effectively gives you free credit between the time you make the purchase and the credit card payment due date.

This section helps you decide how to get a credit card, explain the different types of credit card companies, to benefits and disadvantages of credit cards and what to do when you get into credit card debt.