this post was submitted on 13 Aug 2022
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Finance

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Buy now, pay later sounds too good to be true because it is (www.vox.com)
submitted 2 years ago by alyaza to c/finance
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[โ€“] remington 2 points 2 years ago* (last edited 2 years ago) (1 children)

Articles like these bring back not so fond memories of my wife and I learning financial lessons the hard way. All the while I wondered why personal finance wasn't part of public education in the USA. Luckily, for my sons, Maine (the state we reside in) has made personal finance a part of the public school curriculum in every grade (Kindergarten through 12th grade).

My best advice, for anyone wanting to know how to handle credit as a beginner, would be to get a credit card with the lowest possible APR (Annual Percentage Rate).

Make a few purchases per month with this card and then pay off the balance at the end of each month. Over time this will build up your consumer credit rating.

[โ€“] Dramatic_Trust 2 points 1 year ago

pay off the balance at the end of each month

This is what I do. I think if you follow this, the apr does not matter, since the amount on which the interest is calculated is 0. So I would prefer more a card with more rewards than one with a lower apr.