Are Credit Cards Friends or Foes?

“Banks make money. People who use them do not,” says Brian Reynolds, the Associate Professor of the College of Management and Business of National-Louis University, Chicago. Truly, banks pay some percentage on deposits. On the other hand, they charge bigger percentage when they lend money. As credit cards issuers, banks are in business to make money as well. Nonetheless, those bank products may not require deposits and could be used for free if some rules would be followed. Despite being considered by many consumers to be foes, credit cards could be friends if used properly – they are convenient way to pay, they are a good source of cash in emergency situations, and they are tools of maintaining a good credit history.



Many consumers conside View the rest of this article