Credit Cards: Friend or Foe?

Even before you apply for a credit card, and certainly before you use it, ask yourself this question: Is a credit card your friend or your foe? Perhaps it’s your friend when you need or want to make a purchase and it’s your foe when you struggle to pay the bill.

In truth, a credit card is neither friend nor foe, it’s simply a tool: useful for some jobs, ill-suited for others.

Basically, your credit card is a line of credit that allows you to borrow money instantly. It’s a tool that makes borrowing very convenient.