Understanding credit cards. A credit card is a payment card issued by financial houses that allows the holder to pay for goods and services. Of course, this is based on the premise that the holder of the card will pay for them later, generally with interest. The idea of having something now and paying for it later is pretty enticing…
Just how bad is it? According to The Balance; the average credit card debt of a U.S household in December 2018 was $8,187 which means a total of $1.045 trillion. This clearly depicts how common and serious a problem credit card debt is, especially when it comes to having financial freedom. With an outstanding debt, you are not as free…