What is a Credit Card?
A credit card is a payment card that allows you to borrow money from a bank/financial institution for everyday purchases ex. (groceries, shopping, personal expenses).
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How do I get a Credit Card?
A credit card is obtained by applying for a credit card to a certain bank/financial institution and can be applied for once you're 18 or can be obtained as an authorized user under a parent.
What can I buy with a Credit Card?
You can buy anything you want as long as you don't go above your credit limit!
You can buy things such as
Clothes
Food
Groceries
Electronics
You can also pay for things like
Eating Out
Entertainment
Hobbies
Traveling/Vacations
What is the difference between a credit & debit card?
Credit Card
Credit Card
Borrowing money from a bank/finanical institution
Aren't using your money right away (can make installments for purchases)
Involves interest
Must apply in order to get a credit card, (usually have to be 18+)
Helps build credit with good usage
Has benefits like (cash back, travel rewards)
Debit Card
Debit Card
Digital version of YOUR money stored in a bank/financial institution
Paying for your purchases right away
Dosen't have interest
Anyone can get a debit card
Does not build credit
Usually does not have as much benefits as credit cards
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