With the widespread release of credit cards in the 1950s and 1960s, they have since become ubiquitous in everyday life. According to the Federal Reserve Bank of Atlanta, 82% of American adults have a credit card,

Fees related to personal credit cards are generally not tax deductible. If you use a card for business purposes, you can deduct fees on those cards that the IRS deems “ordinary” and “necessary” for tax purposes. It’s better to use different cards for your personal spending and business spending so that you don’t mistakenly take or miss a deduction.

Cash back is just one of a few different rewards currencies you can earn with a credit card. Here's everything you need to know.

I got my first credit card around the same time I got my first debit card. I was a freshman in college and needed both cards for different reasons. But I soon learned that using a credit card offers a world of benefits that debit cards just don’t match.