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Credit Card Debt


Unlike student loans, credit cards often lack government backing and are often predatory in their APY rates.  Some of this is expected– credit cards have no backup in the event of a default, but in some cases, the terms and conditions can also be hidden in fine print and take advantage of user ignorance or laziness. This doesn’t mean people should avoid credit cards, but they should be cautious. Credit cards can build credit, which we talk about later, but avoid getting more than 2-3 credit cards, and avoid promotional credit cards that carry hidden fees. If it’s too good to be true, then it’s not true!


  1. Credit cards lack backing and often are predatory.
  2. Without a way to prevent risk, high APY is the result.
  3. Check the fine print!
  4. Credit cards can still be a good thing, but be careful.