A credit card used responsibly can be a great tool to build your credit score and a credit history.
If you pay off your bill in full every month and balance your budget like a pro, using a credit card for most expenses allows you to track your spending easily and take full advantage of cash-back and other rewards programs.
But if you don't pay off the bill each month, the high interest rates on a card will cost you as your debt keeps rolling over. That's when you should consider cheaper methods of financing.
Here are five times you may want to ditch the credit card. Read more...