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A credit card is a plastic card that can be used to buy most consumer goods, rather than paying cash. A credit card is considered to be a short-term convenient debt tool and thus the interest rate on credit card debt is fairly high. The best use of a credit card is to use it to buy mid-priced personal purchases and pay the debt off at the end of each month. In this way you can minimize your interest accrual and increase your credit track record.
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