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Credit cards are powerful financial tools that allow consumers to make purchases without the need for immediate cash. They provide a credit limit, which is the maximum amount you can borrow. Understanding the terms, such as interest rates, annual fees, and grace periods, is crucial for using credit cards wisely. By making timely payments, you can avoid high-interest charges and build a positive credit history, which is essential for future financial endeavors, such as buying a home or securing loans.