"The credit lines may start small, but they can become quite large, often well over $10,000. That means a cardholder who carries over a balance can get deep into debt very quickly," Sandberg said.

The Fair Credit Billing Act limits a cardholder’s liability to $50 if the card is used fraudulently, but Discover won’t even hold you responsible for that first $50 if your account is compromised.

Credit card debt Before we go over anything else, it's important to note that while we're huge fans of credit cards at TPG, we never recommend carrying a balance on a credit card. Carrying a ...