00:01
So here we are talking about credit cards, and we are considering getting a credit card.
00:05
And we need to worry about the features of the credit card.
00:09
And the first one we're talking about is the down payment.
00:12
This is wrong, right? credit cards don't have these.
00:17
There is no such thing as a down payment on a credit card, right? the credit card is you get the money up front and then you pay back.
00:24
So there is no down payment, right, on a credit card.
00:27
So it's not a.
00:29
B, initial fees.
00:34
I would be worried about this, right? i would be worried about this because many have annual fees, right? if you, for example, if you go to the bank and you say, i want a really good credit card, they'll say, yeah, this is a premium credit card.
00:50
It costs you $500 a year to own this credit card.
00:53
So you do definitely need to be concerned about not just initial fees, but annual fees, right? every year that you hold some credit cards, you might have to pay a fee.
01:03
Now, some credit cards are free, but many credit cards do have fees to open or fees to use the card on an annual basis.
01:11
So that is something you should be concerned about.
01:14
C, late fees...