What is a credit card?
Credit cards are strong financial tools when properly used.
9 min read
Jul 11, 2025
Erin Lowry
Expert Reviewer, Personal Finance
EXPERTISE
- Credit cards
- Debt management
- Personal finance
- Retirement
- Wealth
- Budgeting
Bankrate's Expert Contributors
Our Expert Contributors are a select group of creators, experts and thought leaders who share first-person perspectives on finance and its intersections with our lives.
Meet our expertsAbout Erin
Erin Lowry is the author of the four-part Broke Millennial series, including: Broke Millennial, Broke Millennial Takes On Investing, Broke Millennial Talks Money and Broke Millennial Workbook: Take Control and Get Your Financial Life Together. Erin’s been featured in The New York Times, Wall Street Journal, and on GMA3, ABC News, CBS Sunday Morning, CNBC and The Rachael Ray Show. She has written for The New York Times, USA Today, and other major publications.
Erin's latest articles
-
-
4 reasons to have multiple savings accounts
Here’s how multiple savings accounts can help you reach your financial goals.
4 min read Jul 07, 2025 -
How to delete your Experian account
You can use your Experian account to check your credit, but you don’t have to keep it.
4 min read Jun 30, 2025 -
Guide to Capital One transfer partners
Learn which Capital One transfer partners allow you to transfer at a 1:1 rate.
10 min read Jun 30, 2025 -
What happens if you never pay your student loans?
Defaulting on your student loans can cause short- and long-term consequences.
8 min read Jun 30, 2025 -
What are index funds? A passive, diversified way to invest in a market
Index funds are an easy, low-cost way to get diversified. Are they right for your portfolio?
4 min read Jun 30, 2025 -
What is student loan default? Millions of federal loan borrowers are finding out
Unlike a late payment, true default comes with consequences that can last for years.
9 min read Jun 30, 2025 -
Can closed accounts be removed from your credit report?
Closed accounts listed on your credit report are removed after a set amount of time – depending on the status.
6 min read Jun 30, 2025