I'm just starting out in my financial life and such, so I want to make sure I understand credit cards to avoid nasty surprises when I receive my bill.
I am starting to look at credit cards, and there are so many out there it is overwhelming. I have no clue what to even look for. I just want to know basically what I should look for in starting my credit.
Also, another question about paying back the bill. I do know you're basically borrowing money with a promise to repay it back. I do know I have to pay back monthly and there is a minimum limit, but what I am unsure is basically this... If I spent $1000 dollars for a month and my minimum is $10 dollars:
Is there a recommended or a no incurring interest payment, like instead I pay $32 dollars and a interest penalty won't occur won't occur or does an interest always occur?
Do I incur interest before or after I make my payments?