Drug testing

Why Credit Cards are a Bad Idea

Credit cards are just so convenient, aren't they? There's no need to carry any money with you ever again: you can just take one with you to the shop and pay the exact amount just by handing it over. If you haven't been paid yet, then you don't need to worry, because the money will still be there.

When you shop on the Internet or over the phone, it's the only good way to do it ? what else are you going to do, post a cheque? Like anything convenient, though, credit cards have a flip side ? in fact, they have lots.

Can You Keep Track?

When you walk into that shop and hand over the card, the money is taken from the card, and the card goes back into your wallet. You still have all the things you started with ? there's no less money in your purse or wallet to remind you of what you've spent.

Everyone has a tendency to underestimate what they spend, and smaller amounts can add up quickly on a credit card without you even noticing. It's like taking the way phone bills work and applying it to everything you buy ? and that can't be a good idea.

Money For Nothing.

Using credit cards is a great way of losing a percentage of your income to a credit card company in exchange for nothing. The moment you run a balance, you're paying them interest. Not only that, but you're paying your credit card bill as soon as you get your wages, so you don't have the chance to earn any interest on them from your bank. When you think about it, you're losing out twice over ? and for what?

Designed to Keep You in Debt.

Your credit cards are trying to keep you using them and paying interest. You will find it very difficult to pay off all your credit cards once you have them. The company will do everything they can to stop you paying before you've paid them lots of interest. The more debt you show you can pay back, the more they'll try to offer you, until they get you to the point where you can't pay.

The Lie in the Name.

Credit cards are called credit cards to avoid saying what they really are: debt! You will do much better in all things connected to credit cards if you always remember this simple mantra: credit cards are debt cards. Use the word debt as often as you can whenever you talk about credit cards.

But Sometimes You Can't Avoid Them.

When you need money in an emergency and you just don't have any, there's no doubting that credit cards can be useful. They are also a very useful way of proving to credit rating agencies that you can handle debt, and this will be taken into consideration when you apply for car loans or a mortgage.

Just remember that whenever you handle credit cards, you're playing with fire. Do everything you can to keep your use of them to a minimum, and you'll have a much better financial life.

Ken Austin is the webmaster at Debt Consolidation Solutions and Credit Relief Solutions

limousine chicago service
In The News:

How You Can Avoid Becoming A Victim Of Identity Theft

To reduce or minimize the risk of becoming a victim... Read More

Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums

Did you know that you could make sure to get... Read More

10 Simple Steps to Manage Your Credit

By far the greatest invention the banks have ever come... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

Credit Score - Reporting Your Financial Health

Credit score is one of the most basic, determining factor... Read More

Credit Card Balance Transfers Explained

What is a balance transfer ? A balance transfer can... Read More

Credit Cards: What is the Universal Default Clause?

Most people who carry major credit cards are well aware... Read More

Good Credit -- Essential for the Prospective Home Buyer

Credit is a funny thing. It can be a useful... Read More

Credit Cards -- What You Should Know

There are a lot of questions about using credit cards.... Read More

Credit Suicide

Few things influence the home buying process more than your... Read More

Ways to Look Good without Selling Your Soul to the Credit Card Sharks

1. Buy clothes at thrift stores. BEFORE you buy them,... Read More

Getting Married? What Are The Finance and Credit Implications?

There is a big difference between looking after your own... Read More

Credit Card Is Adding The Silver Lining To Your Pocket

In the new millennium plastic money or credit cards has... Read More

Credit Repair Companies and Credit Counseling

Let's be crystal clear, right up front. Paying someone to... Read More

Credit Cards And Loans - So Many Options - So Little Time

Credit Cards and Loans sounds like just two things, but... Read More

The Hazards Of Your First Credit Card

You probably don't need me to tell you credit cards... Read More

Credit Cards - Why Prepay?

With prepaid credit cards, you get the practicality of plastic... Read More

Credit Repair Services vs. Do-It-Yourself Credit Repair

Millions of Americans suffer because of bad credit these days,... Read More

Home Loans ? Repair Your Credit Before You Buy

Before you take out a home loan or make any... Read More

Always Avoid Payment Holidays

Once you've been paying off a credit card for a... Read More

Ten Steps To Building A Good Credit History

Are you thinking of buying a house? Do you want... Read More

SuperCharged Secret 3, Credit Card Utopia

TURBO-CHARGED KILLER RATE SAVING INFORMATION!Let's just take a brief moment... Read More

Watch Out For Credit Repairs

It is very easy to find a site that is... Read More

The Advantages of Credit Cards

There are many evils associated with credit cards, but there... Read More

street light price industrial led light fixtures Pete's produce ..