What You Should Know About Credit Cards. A Hands-On Checklist for your Kids and for Those of Us who are Negligent with our own Credit Cards.
A friend of mine (who wants to stay anonymous) runs the Asian subsidiary of a large credit card company. The following is what he has highlighted to me over a beer.
What a Credit Card is
A credit card is a form of free short-term borrowing and expensive long-term borrowing. It allows you to buy goods and services without using cash, that is, on credit.
Continue reading here.