>>1542173
>Can you guys teach me about
>credit cards,
Free to use. Charges enormous interest if you don't pay back in the required timeframe. Some charge annual fees for added features like bigger cashback or less interest, but those options are usually useless
>banks,
They hold your money so you don't get robbed walking down the street
>and the process of getting loans?
Banks will loan you money. They'll charge interest (less than CCs) on this money, so you better have a plan to work the money in your palm, or you're gonna have a bad life
>Is it worth it to use them? I'm new to this shit
Get a bank account to hold your money, they give you a pittance of interest. Get a credit card, they give you a pittance of cashback on purchases usually and you need one to function in modern society, but don't spend more than you can pay back at the end of the month

>>1542173
if you know so little that you need to ask these questions, you don't wanna so much as TOUCH a credit card.

>>1542191
Thanks! Wouldn't it be better to just use a debit card - though? Do you have any advice regarding any good plans, or anything I could really do to earn meager amounts quickly

A relevant keyword is personal finance.
I was going to suggest martin lewis but it doesn't seem like he does foundational theory and his advice is pretty tailored to the UK.
Brush up on the theory of loans i guess. Learn what a principal and interest is. Know the difference between compound and simple interest.
Direct Debits are a thing in the UK, maybe you'll encounter them too. Set up a direct debit with your credit card and you don't have to manually pay it off every month.
If your card gets stolen you can call the bank to revoke it and they'll issue a new one (and maybe charge you a fee).
>>1542200
The most important thing about credit cards is that they help you build up trust with your banks, preparing you for bigger loans like mortgages or car loans.
Credit cards can also give an element of security because they are more separated from your current account than debit cards. Plus you can do a chargeback on a credit card if you got defrauded.
Ultimately fairly marginal benefits. Always pay it back in full at the end of the month. A debit card works mostly as well.

(There are 0% APR credit cards which can be cheaper than a personal loan due to less interest but you need to be a LOT more deliberate when using them (e.g. making your own repayment plans and cash flow forecasts). Otherwise you might end up running out of the 0% apr period and enter the scary daily 10% apr zone still with some principal to pay.)

>>1542173
Perhaps its time to take stock of where you are financially and how you manage money. I am going to assume you live in a Western country and are barely old enough to use this site.

Stay away from the credit card until you have a stable source of income. Credit cards tend to be mostly free but some have annual fees with access to premiums like point accumulation or member access. Credit cards also feature a history for people who will insist on knowing how reliable you are in paying loans, which is what credit cards provide.

Like >>1542191 said the bank can securely hold your money, allow you to securely move to pay your debts, and receive payments (from a job or the government). You might think of a Bank as a physical building but now there are credit cards and prepaid cards that do the same thing on your phone or computer.

For the most part, be extremely careful with loans. Most banks will only provide car, home, or business loans, which I doubt will apply to you now. Do not go for payday loans as the interests - what is charged in addition to the money you borrowed - will ensure you pay more than you expected.

>>1542200
with a debit card, you won't get rewards such as cashback or miles which you would with a credit card. Also, with a credit card the bank will fight for you if you have a dispute and need to do a chargeback because its their money. They wont give a shit if its a debit card.

Make sure you set up GIRO payment a couple months after u get used to using the credit card so you wont forget a payment. Spend within your means and pay the card in FULL every month. For the annual fee, call the bank and ask for a waiver. If they dont give it to you, threaten to cancel the card and they usually fold. You can always make a new card with another bank anyways.

>>1542241
Thank you! Are those ones just really hard to get
Are credit cards just not worth it
>>1542267
Member access? This sounds like a lot of stuff that's just to trap people in a system that could be avoided
Never knew about payday loans, thank you! Are home loans alright?
>>1542281
Can you personally schedule the GIRO payment, I have no idea about the waiver, isn't cancelling a card usually worse for the credit score? Ty
Is there a good thread or guide for minmaxxing loans and stuff

>>1542321
>are those ones just really hard to get
I don't know. Maybe they are choosy in giving them out, or maybe they are quite predatory in giving 0%APR out. It certainly lucrative for them if you get caught at the end and have to pay massive interest.

>>1542326
is this entire banking scene just super sketchy
everything over here feels like it could screw someone over

>>1542328
>it could screw someone over
Well yes. That's how these systems make money, morons. Morons fail hard when given these tools and get raped, and nobody cares
I had a friend who recently offered himself. When he turned 18 his Mom gave him a credit card. His credit card, taken out in his name, a year earlier, maxed out in debt, like $10k with like 20 something % intrest
Morons pay for the whole system

>>1542173
>Is it worth it to use them?
no, never get in debt with Schlomoberg and friends, they are professional scammers