By Mary Beth Storjohann via Iris.xyz
Credit cards often get a bad rap in the world of personal finance. The negative connotations aren’t entirely unjustified. When used poorly and mismanaged, credit cards can lead to a world of trouble for you and your money.
With high limits and even higher interest rates, you can quickly rack up an overwhelming amount of debt if you charge more than you can afford to repay to your credit card and then start carrying a balance.
But credit cards can also be useful tools to help you leverage your cash flow. If you only charge what you allocated to spend and pay off the balance in full and on time every month, you can make every dollar in your budget stretch just a little bit further through reward points and cash back on purchases you needed to make.
You can start by choosing the best credit card for you based on your spending habits and financial goals.
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