Introduction to Credit Cards

Credit cards, those little plastic cards that can open so many privileges in the consumer world, are more common than they once were because credit rules have loosened over the past few decades. Credit cards have become a favored way of making purchases. They have advantages not only for users like you but also the merchants who sell you their goods and services.

Getting a credit card used to be a rite of passage for many people, meaning that they had arrived at a point in their lives when banks and other institutions were willing to give them a revolving line of credit.

In modern decades, credit cards lack that aura, and defaults have grown greatly with the availability of easy credit.