Give me some credit: what are the hidden dangers of using a credit card?(Reality Check)

Know Your World Extra | February 2, 2007 | Copyright

Teens spend a lot of money, and businesses know it. That's why credit card companies want you to have a credit card. Sure, using a credit card can be helpful. It's much easier to carry around a card than a wad of cash. And if you pay your bills on time, you can build a good credit history, or financial reputation. One day, when you need a loan for a house or a car, that will be a good thing to have.

Just because companies want teens to have credit cards, however, doesn't mean teens are ready to have them. Jason Alderman, director of Visa's financial education ...

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