Credit Card Basics: Simple Answers to Common Questions

Clear, short answers to the credit card questions people search for most: how interest works, when to pay, how to cancel a card, what hurts your score and more. Every guide starts with a direct answer, then explains the details with real examples.

The 5 Credit Card Rules That Matter Most

1. Pay the full statement balance by the due date and you'll never pay interest.
2. Never pay late. A payment 30+ days late can hurt your score for years.
3. Keep balances low, ideally under 10%–30% of your limits.
4. Don't apply for many cards at once.
5. Keep old no-fee cards open to protect your credit history.

Quick Numbers to Know

Topic	Key number
Minimum age for your own card	18 (independent income until 21)
When a late payment hits your report	30 days past due
How long late payments stay on your report	7 years
Hard inquiry impact on FICO	About 12 months
Typical card delivery time	7–10 business days
Average credit card APR	About 21%–24%

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