Is Your Credit Card Your Friend or Your Enemy?
There are those who live their lives using their credit card for everything from Marble Slab Ice Cream to Bloomingdale's.
On the other hand, there are those who despise their every existence.
Plastic cards are a godsend for some and the devil for others.
This is because there are those who use their charge cards for emergencies and special purchases only.
There are plenty of people who charge their lives on them every month only to write a check and immediately cover the balance.
However, there are plenty of people who use their credit card offers and abuse their privileges only to end up in a heap of financial trouble.
These people become lured easy spending.
On the other hand, those that use their cards responsibly will actually benefit from their use in all sorts of ways including saving money.
A charge card can be deceiving in that you never know what your balance is unless you keep up with it on a day to day basis.
For the most part, you stick your credit card in your pocket and start charging on it forgetting what you have spent from day to day.
When you have cash in your pocket you can actually see how much money you have and watch it diminish as you spend it.
Unless you call your credit card provider or log on to your online account you will not be able to keep track of your spending as easily.
In addition, credit card providers must charge interest or fees in order to stay in business.
It does not cost anything to keep cash in your pocket or in your bank account.
On the contrary, cash in your bank will pay you in the form of interest.
For some a credit card becomes difficult to handle to its quick access to purchasing power, in some cases, even large amounts.
These days debt is at an all time high, even after the credit crash of 2008.
Many Americans are guilty of using their cards for items that are not necessarily your every day required things you need to live.
Many people use their card to make purchases such as fancy clothing, expensive jewelry, fine dinning and all sorts of unnecessary items.
It is all fine and dandy so long as you have the money to cover your expenditures every month.
However, most of us do not have that kind of money to be spending frivolously.
Do not spend more than you can afford, especially when you are on a fixed income.
Debt can become very easily overwhelming and many Americans find themselves unable to afford their monthly bill.
Unfortunately, what happens is that you will not have any of your credit lines available for an emergency.
Your credit card when used properly can actually be used as savings mechanism.
It can save you from an emergency and it can even save you money on purchases and interest free loans.
How many times has you had a problem such as a broken down vehicle or home repair that is urgent.
Those who use their card offers responsibly always have money available to take care of themselves in these types of situations.
Other loan alternatives include borrowing from friends and relatives or having to get a costly pay day loan.
Relatives can sometimes help, but often times can not.
Pay loans are quite expensive.
A credit card is often times the cheapest and most convenient alternative available.
Furthermore, those who pay their balance in full every month often times are spared from any interest charges.
Good credit card management coupled with an excellent rewards card can actually save you money when you make purchases from your favorite stores.
A 0% introductory offer can provide someone with a way to make a large purchase and make interest free payments during the trial offer.
Those who take advantage will be able to get away with not having to pay for any interest for anything from purchases to balance transfers.
However, those who do not pay the balance in full during the trial offer will end up getting hit with a large amount of interest once the intro offer has expired.
Your charge card is actually your friend.
Unfortunately we are our own worst enemies.
Those who exert the proper discipline required to maintain a credit card account will have years of benefits as well as money when it is needed the most.
Those who do not spend wisely will end up with all sorts of financial problems including bad credit, higher interest rates on other loans, or even law suits.
On the other hand, there are those who despise their every existence.
Plastic cards are a godsend for some and the devil for others.
This is because there are those who use their charge cards for emergencies and special purchases only.
There are plenty of people who charge their lives on them every month only to write a check and immediately cover the balance.
However, there are plenty of people who use their credit card offers and abuse their privileges only to end up in a heap of financial trouble.
These people become lured easy spending.
On the other hand, those that use their cards responsibly will actually benefit from their use in all sorts of ways including saving money.
A charge card can be deceiving in that you never know what your balance is unless you keep up with it on a day to day basis.
For the most part, you stick your credit card in your pocket and start charging on it forgetting what you have spent from day to day.
When you have cash in your pocket you can actually see how much money you have and watch it diminish as you spend it.
Unless you call your credit card provider or log on to your online account you will not be able to keep track of your spending as easily.
In addition, credit card providers must charge interest or fees in order to stay in business.
It does not cost anything to keep cash in your pocket or in your bank account.
On the contrary, cash in your bank will pay you in the form of interest.
For some a credit card becomes difficult to handle to its quick access to purchasing power, in some cases, even large amounts.
These days debt is at an all time high, even after the credit crash of 2008.
Many Americans are guilty of using their cards for items that are not necessarily your every day required things you need to live.
Many people use their card to make purchases such as fancy clothing, expensive jewelry, fine dinning and all sorts of unnecessary items.
It is all fine and dandy so long as you have the money to cover your expenditures every month.
However, most of us do not have that kind of money to be spending frivolously.
Do not spend more than you can afford, especially when you are on a fixed income.
Debt can become very easily overwhelming and many Americans find themselves unable to afford their monthly bill.
Unfortunately, what happens is that you will not have any of your credit lines available for an emergency.
Your credit card when used properly can actually be used as savings mechanism.
It can save you from an emergency and it can even save you money on purchases and interest free loans.
How many times has you had a problem such as a broken down vehicle or home repair that is urgent.
Those who use their card offers responsibly always have money available to take care of themselves in these types of situations.
Other loan alternatives include borrowing from friends and relatives or having to get a costly pay day loan.
Relatives can sometimes help, but often times can not.
Pay loans are quite expensive.
A credit card is often times the cheapest and most convenient alternative available.
Furthermore, those who pay their balance in full every month often times are spared from any interest charges.
Good credit card management coupled with an excellent rewards card can actually save you money when you make purchases from your favorite stores.
A 0% introductory offer can provide someone with a way to make a large purchase and make interest free payments during the trial offer.
Those who take advantage will be able to get away with not having to pay for any interest for anything from purchases to balance transfers.
However, those who do not pay the balance in full during the trial offer will end up getting hit with a large amount of interest once the intro offer has expired.
Your charge card is actually your friend.
Unfortunately we are our own worst enemies.
Those who exert the proper discipline required to maintain a credit card account will have years of benefits as well as money when it is needed the most.
Those who do not spend wisely will end up with all sorts of financial problems including bad credit, higher interest rates on other loans, or even law suits.
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