If an emergency expense arises that your paycheck can't cover, and you don't have money in savings to fall back on, whipping out a credit card may be your only option. For one thing, carrying credit card debt means continuously racking up interest that only makes your debt more expensive to pay off. Plus, having too high of a credit card balance can lower your credit score by raising your credit utilization ratio (a measure of how much of your total credit you're using at once).
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