Remember, a credit card is not free money. It's a loan with an interest rate attached to it. The longer you take to pay off the balance, the more interest you pay. So before you use your card, know the real cost of the item. The calculator to the right will help you figure out the real cost of whatever it is you want to buy.
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*APR is the yearly interest rate charged on the amount borrowed.
Paying cash for your new house or car would be nice. But in reality, most of us will take out loans for big purchases like these. The term of the loan can make a big difference in the cost of the item you're purchasing. Before you borrow, be sure you understand how the term and APR can affect the final cost. When applying for a loan, be sure to get the answers to the following questions:
Before you use your card, know the real cost of the item. Move the sliders to find out how long it will take to pay off your credit card balance and much interest you'll pay.