Why Is Credit Card Debt Considered 'Bad' Debt?

·3 min read
Why Is Credit Card Debt Considered 'Bad' Debt?

There are different ways you can go about borrowing money. You can take out a loan for a specific purpose, like an auto loan to buy a car, or you can take out a personal loan, which lets you borrow money for any reason. You can also borrow money via your credit cards -- namely, by racking up a balance and then paying it off as you're able to.

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