Credit cards

Major Credit Cards:

You may want to consider applying for a credit card in your home country before comming to the United States.

Advantages of Credit Cards

Credit Cards are convenient because you do not have to look for a checkbook or search for cash to make a purchase. Credit cards are accepted mostly everywhere in the world while checks are not.

With a credit card, you are required to make a minimum monthly payment. A minimum payment is the smallest amount you can a that will still meet your cardholder agreement(the terms when you first sign up with the company.

Disadvantages of Credit Cards

The biggest disadvantage of a credit card is the opportunity to spend money that you don’t have. Many credit cards don’t require you to pay off your balance each month. It may seem like free money but it all has to be paid back. The more you wait to pay it back, the more money you will owe since credit card companies charge you interest each month on the money you borrowed.

If someone steals your credit card, steals the numbers off of a receipt or even on a website, they can purchase a bunch of things on your account (credit card fraud) and you will have to pay the money back, even if you did not know it was happening.