Credit cards, if used unwisely, can lead to a mountain of debt. If you charge more than you can afford, make low monthly payments, or pay late, you may be headed for trouble. However, if you learn to use credit cards wisely, they can be convenient, help build good credit, and prove useful in emergencies.
Young people can get a credit card at age 18, and even younger with a parent's consent. Should you encourage your child to get a credit card or help her get one before she turns 18? When a child can handle a credit card depends on the individual kid. But make no mistake about it -- it pays to teach your child about credit cards and money management early on, before they get into financial hot water.
Low or no interest balance transfer offers from credit card companies can be a boon, but they can also trip you up. Here’s what to be aware of if you are considering a balance transfer offer. (For more articles on the wise use of your credit card, see our Using Credit & Debit Cards topic area.)