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CREDIT, DEBIT AND ATM CARDS

The era of cashless purchases

Back in the good old days (before 2003), most people used cash to pay for the things they bought. But for more than a decade, credit and debit cards have surpassed cash as the purchasing methods of choice.

 

If you received gift cards, or use a debit card with your checking account, then you’ve already begun making cashless transactions. But you’ll have to wait until you turn 18 to apply for a credit card. And until you turn 21, you’ll need an adult co-signer who promises to be responsible for any debt you don’t pay. Still, many high school seniors already have credit cards, and if you’re not one of them it’s a good bet there is one in your future. So the sooner you understand the basics of cashless purchases, the better equipped you are to make informed decisions not only on what you buy, but how you buy it.