Credit card

From CaseyPedia

A credit card is an essential source of funding for every personality web 2.0 marketing guy.

These cards are issued by banks and other lenders, who also establish maximum credit limits for each card, and determine an appropriate interest rate to be paid on the balances after 30 days. Credit cards are not secured by any real assets and typically carry interest rates of 18% or higher, sometimes in excess of 30%.

As is true of all debt, wise use of credit cards involves having few accounts and making payment in full every month in order to avoid interest charges and penalties. Aspiring Sacramento real estate moguls, however, disregard this common-sense advice and may open as many as two dozen credit card accounts in order to pay for routine expenses, then fail to make any payments^[1]. This is one of the downsides of entrepreneurial activity.

In addition to personal credit cards, many banks also issue credit cards to corporate entities, and this is one of the four major types of corporate credit available to small organizations and minor criminals.

Credit cards may come in handy when it becomes necessary to purchase a shiny object.

[edit] References

1. ↑ Casey's Liabilities spreadsheet