students entering college are often targetedby credit card companies and lured into getting a creditcard. it is imperative to know how to manage it and be a responsible cardholder. a creditcard is not free money. here's why. responsible cardholderscompletely pay off their balances every month. finance charge, minimum payment, andbalance are three separate things. paying
Bank Of Hawaii Credit Card, only theminimum will end up in an inflated final balance, because you're not actually paying off themoney you owe. instead, you're just paying enough money to keep the bank off your back.finance charge is just a fee for using the company's credit card. in order to avoid havinga finance
charge or minimum payment, you must pay offyour entire balance by your deadline. when yousimply pay off the finance charge or minimum payment, you will end up having a higher balancedue. the longer you take to pay the balance, the more you will pay later. would you ratherpay that one dollar you owe now, or five dollarslater? so, why even own a credit card? it is anecessity to own a card in order to build credit history, which is reviewed by banks,credit card companies, auto dealers, and retail stores.this will determine eligibility for loans on big purchasessuch as tuition, cars, or houses. being that
credit cards are able to hold your availablefunds, they are important to have in case of an emergency.credit cards can provide lifelong benefits, as longas you're responsible and prompt with your payments. this is sara yiu reporting fromsacred hearts academy, for hiki nåœ.
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