These plastic cards come in a variety of shapes, sizes and colors, from a small rectangle that you  can dangle on your key chain to a personalized credit card with your photo gracing the front. Credit cards also come in a variety of price ranges - some with no annual fees, some with big annual fees - some with fixed rates, others with variable rates.

Credit cards are a great financial tool, offering many benefits:

• They can be safer and more convenient to use and carry than cash          
• Credit cards offer the ability to buy goods and services now and pay for them later
• They have valuable consumer protections under the law
• Major credit cards are accepted by merchants around the world
• They may provide a source of cash or payment in an emergency
• Credit cards can guarantee hotel or travel reservations
• If you are not happy with a purchase you made using a credit card, you may have the right to withhold payment until the problem is resolved.          

To qualify for a credit card you must be at least 18 years old and have a regular source of income. Despite invitations from credit card  issuers, you will still have to demonstrate that you are a good risk before they grant you credit. The proof is in your credit report. Before you submit a credit card application, you may want to obtain a copy of your credit report to make sure it is accurate.