There are many credit cards on the market today, and all of them are competing for your business. Credit card companies are offering lower and lower interest rates; multiple rewards programs, and even cash rewards for taking out a credit card with them. A credit card is a great financial tool to have in the event of an emergency. It can be more convenient to use and carry than cash and it offers valuable consumer protections under federal law. Of course, at the same time, it's a big responsibility as well. If you don't use your credit card carefully, you may owe more than you can repay, damage your credit rating and create credit problems for yourself that can be difficult to fix. Interest rates have a way or nearly doubling the money that you owe; especially if you are not making higher payments than the minimum allowed or none at all. Credit card debt is one of the most common reasons why people find that they cannot buy a home or new car. The only other form of debt tha...