Credit cards can be a useful tool in your personal finance arsenal. These cards can help you build credit, cover costs in an emergency situation, or just earn you points toward travel and cash back.
While credit cards can be important to build your credit history, it’s essential that you charge any purchases mindfully. Because if you don’t pay off your credit statement at the end of each month, your balance will accrue interest. And unless you have a 0% intro APR or other special-rate card, these fees can add up fast: The average credit card interest rate was 16.27%
