A number of cards are issued with PIN number technology, but you don't always need the PIN number to use them, often only a signature especially at independent merchants. Note that some cards offer 0% interest payments for a period of time after signing up. Your interest rate is a set percentage of your total balance which is agreed upon when you sign up for your card. Balance that you don't pay one month "rolls over" to the next month with interest - a sort of "fee" for not paying back your balance as quickly as possible.
It is in your financial interest to pay your balance off as quickly as possible. After about a month, you'll start to get bills for this balance - you must pay at least the minimum payment designated on the bill (usually about 2% of your balance) or face penalties. Spending with a credit card racks up a balance. Purchases that put you past this limit may be declined. You are only allowed to spend up to your card's credit limit (for a secured card, this is usually the amount of money in your deposit). Below are a few very basic tips for using your new card (for more detailed information on using your card responsibly, see the section below.) You can now start using it to make purchases almost anywhere - simply present it to the cashier at the time of purchase or swipe it like an ordinary debit card. ) Congratulations - you now have a credit card.
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