April 4, 2007
Credit Cards-Good or Bad
Written by: John
I just found out my credit score. And although it isn’t too bad, it isn’t as high as I would like it. And the reason why it isn’t as high as I would like it is because when I was a stupid kid just out of high school I got a bunch of credit card offers and didn’t know how to use credit cards.
Credit cards are a must these days. You can’t rent a car without one. And there are many other things that I can’t think of right now that you have to only use a credit card for.
Thankfully since my high school days I have wised up and have gotten smarter when it comes to owning and using a credit card.
I use a credit card all the time. I do it so I can get free airline miles. And each month I make sure I pay off my balance so I will never get behind and really be in debt.
There are so many different credit cards that it is hard to know which one to apply for. Be sure to compare credit cards so you know you are getting the best interest rate. There are interest free credit cards or 0% credit cards. Where for a few months (depending on the card) you do not have to pay interest. This is really nice if you know you are going to pay off the item on your credit card within the allotted time.
You do need to watch out and make sure you check for annual fees. Some credit cards have them and others do not.
Just remember Credit cards aren’t really free money. You are responsible for paying all of it back so make sure you don’t use credit cards just to get farther into debt.
This post sponsored by Credit Card Store.
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several reasons why I don’t so delighted withT credit cards:
Credit card cheques. 9 times out of 10 - they are treated in a similar fashion to cash withdrawals. Thus, although they offer ‘convenience and flexibility’, these benefits come at a high price. While most credit-card cheques charge high rates of interest plus handling fees, look out for low-cost balance-transfer cheques which charge low rates of interest and could save you money.
When you buy something abroad you pay extra foreign currency conversion fee.
Besides it’s far too easy to overspend with card.
credit cards as you said used wisely are not a problem at all. however most people get stuck into running a balance and making minimum payments. this is called the “credit treadmill” once your there its not fat your going to be losing. its your hard earned dollars. the smartest way to use credit cards is to have one card and pay it in full at the end of the month. anything other than that will lead to you eventually losing a lot of unnecessary money