skip to main content

Credit Card FAQ's

Did you know that having a credit card, and using it, is actually a good thing? Having a credit card helps you establish a good borrowing history and therefore establish good credit which you will need later in life to buy a car, a house or even get other credit cards.


  • Establish good credit
  • Avoid carrying around cash, especially for larger purchases
  • Available for emergency use


  • Buy things that you cannot really afford
  • Miss payments and damage your credit, which can affect your ability to get another credit card or loan for up to seven years!

Before you get a credit card, be a good consumer and investigate your options, especially relative to interest rates and annual fees. Determine what the interest rate will be if you are not able to pay in full for your purchases each month. Is it fixed or variable? Keep in mind that some credit card companies have one interest rate for the first year and hike that rate up when the first year is over. Also, if you are hoping to transfer balances from another credit card(s) in hopes of consolidating your cards, be sure to verify that the interest rate on balance transfers is not significantly higher than the one for current purchases. Finally, some credit card companies charge an annual fee to use their card. Often, these cards have other benefits that are attractive, like airline miles or cash back.