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The Downside of Recent Credit Card Reforms

The Downside of Recent Credit Card Reforms

In June this year, there was a general announcement that there would be fairly significant reforms to all credit cards. What ensued was an uncertain and garbled series of explanations about what it meant for credit card holders and most of us not in the financial institutions were left scratching our heads. It has only been in the last few weeks that lenders have clarified how this will affect consumers and made this clearer.

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There Are Times Using Your Credit Card Is Better than Paying in Cash…

Credit cards can be a double-edged sword. While they provide convenience and extra perks, poor credit card management is one of the fastest ways to end up in debt. Credit cards are one of the highest interest ways of borrowing money. If you only pay the minimum each month, it could take you years and additional thousands of dollars to pay off the money you originally borrowed.

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Confusing Credit Card Terms (and What They Mean)

Many people have a credit card. They’re convenient, meaning you don’t have to carry around cash, let you borrow money instantly, and also offer benefits such as fraud protection, travel insurance, and rewards programs.

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