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The Big Picture . . . Credit Cards
Credit cards can help you establish credit and build a credit history.
Before you apply for a card, understand the fees and interest charges. Interest rates vary considerably from card to card. There are different kinds of credit cards, from bank cards to pre-secured cards for people who have a bad debt history.
It's important to have credit cards to build a good credit record, but having more than three cards can spell trouble. If your teenager has a card, know what you and your teenager is getting into. Teach good credit from the beginning.
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