The difference between credit cards and the pros and cons of using them – Resilience in a Changing World

In this podcast, Hannah Coffey speaks to Laura Rettie about the difference between credit cards and the pros and cons that come with using them. They talk about the difference between a credit card and a debit card and what the advantages are of using a credit card over a debit card. This episode explains how building up your credit history, can have a positive or negative impact to your credit score, depending on how you use your credit cards. Laura highlights how a responsible use of a credit card such as making timely payments and managing balances well, will contribute positively to your credit score, however mismanaging credit cards with behaviours such as paying late, will contribute negatively. She then goes on to explain what impact this can have. The episode talks about how long the impact of damage to your credit score can last and further highlights what will help you choose the best suited credit card for you.