Three things to remember before getting that credit card

Credit counseling services can teach borrowers a lot about credit cards and their intricacies. However, many of these details should be learned well before adding plastic to your arsenal of financial options.

According to ABC News, one main area of credit cards many borrowers fail to understand before it's too late is just how much interest payments cost when carrying a monthly balance. The news outlet notes the majority of American carry balances on their credit cards, and the typical interest rate runs between 10 and 20 percent. This means that over time, consumers are spending considerably more money on even minor purchases.

Meanwhile, unexpected credit card fees are another reality that many borrowers fail to understand. Many cards come with special offers, such as no fees for the first year, ABC News reports. However, this future expense can be pushed the peripheral of a borrower's priorities and sneak up on them when money is tight.

Further, credit cars often shift the way a consumer views expenses. Because credit cards offer a mean to make a large purchase a borrowers many otherwise be unable to afford, many people are more willing to swipe their cards on purchases for which they would have never used cash.

Luckily, those who find themselves in a financial bind can consult consumer credit counseling services to get their budgets back on the straight and narrow.  



April Lewis-Parks, Director of Education and Public Relations for Consolidated Credit, has more than 15 years of experience in the financial sector and is a certified financial counselor. As a consumer affairs advocate, she is dedicated to generating awareness about personal finance issues and promoting financial education.

Mrs. Lewis-Parks is also the host of, a leading personal finance and lifestyle blog that offers financial advice and daily deals. April’s promotional and educational efforts can be seen in past issues of the New York Times, Washington Post, Newsday, Consumer Reports, the Business Journals, Money Magazine,Cosmopolitan, among others.

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