Credit cards can be a powerful financial tool or a slippery slope into debt — all depending on how they’re used. This guide can help you brush up on a few key facts and learn how to reap the benefits. Ready? Let’s dive right in.

Credit products can come in one of two forms: secured and unsecured. Secured credit products, such as an auto loan, mortgage, or home equity line of credit, are tied to collateral that can be seized if the accounts go delinquent. That’s why getting behind on a mortgage or auto loan, for example, can lead to the borrower losing their home or vehicle. Unsecured credit products, such as most credit cards and student loans, don’t have any collateral tied to them. If they go delinquent, there’s no property for the lender to collect so the creditor will first look to collect from you. For this reason, getting approved for these products can sometimes be more challenging.  FREE TOOL: Are mistakes on

It can be tough to find a credit card if you have bad credit, but it doesn’t have to be impossible. Here’s a framework to help you locate a good credit card even if you have bad credit, and work towards better credit at the same time.

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Credit cards can be useful financial tools — when used responsibly. Here’s some help understanding how to manage a credit card without falling into debt.

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