Credit card use can be good for your financial plan if you have budgeted to pay the entire balance when the statement is due.

Question

Quizplus · Accepted Answer

If you pay off your entire credit card balance each month, you can avoid accruing interest and improve your credit score. However, if you carry a balance, the high-interest rates charged on credit card debt can lead to financial trouble. Therefore, responsible credit card use requires budgeting to pay off the entire balance when due.

Credit Card Use Can Be Good for Your Financial Plan