10 Myths About Credit Cards

I came across this cool graphic on creditcardscanada.ca and I thought my Young and Freer's out there might enjoy it. It's all about 10 common myths or misconceptions about credit cards and how they can affect your credit score. I definitely learned a few new things from checking this out and hopefully you find some use in it too.

You can check out the graphic here (it was way too big for me to post and I wasn't going to tease you by cutting off half of the image). 

What struck me as most interesting was the little fact at the bottom of the graphic. If you rack up a $1000 charge on an average credit card and only make the minimum payments then it will take you 22 years to pay off that $1000. Plus, you'll have had to pay off an extra $2300 in interest charges on top of the original $1000.

Credit cards are an important tool to building credit but don't let them get the best of you. Knowledge is power!

Going to double check my credit card statements now,
Dex