Using credit to finance major goals, such as buying a house, may be necessary. In that case, you usually take out a loan that you repay over several decades.
But using credit to make everyday purchases that you really can’t afford can get you into trouble.
Why can it be so easy to get into credit trouble?
Unless you pay off your credit card bill in full, you'll be charged interest on your purchases. These costs can quickly snowball. And if you pay even a day or two late, you could be charged a late fee.