2007-09-02 11:57:52 · 8 answers · asked by Hmm? 2 in Business & Finance ➔ Credit
Don't be afraid of credit....that's good. Be afraid of the cards.
Credit is what banks look at when you want to get a loan, purchase a car, buy your first house, etc. Everyone needs credit, so check your credit score periodically at freecreditreport.com to see where you stand. You may find that you have all the credit you need and a credit card is not necessary.
Credit cards are a trap though. From the very first purchase, you just put yourself in debt of some credit card company until you pay it at the end of the month. Was it necessary to do that? Most times no. Even if you take it slowly, and just get your feet wet, consider what your dipping those little toesies in....it's not water, it's quicksand.
2007-09-02 12:18:52 · answer #1 · answered by Anonymous · 1⤊ 3⤋
If you are organised you can use a credit card without going into debt. I buy everything on credit but ONLY when I know I have enough in my savings account to cover the purchases. I have a monthly direct transfer from savings to credit account so I am never in the red. Use the credit card as a convenient way not to carry large amount of money and also take advantage of frequent flyer points. I made a frew trips for free using these points.
I hope this will help.
2007-09-02 12:03:38 · answer #2 · answered by nadia g 3 · 3⤊ 1⤋
Credit is good when used properly. People in debt are using it poorly or living beyond their means. Sometimes you might have an emergency and credit helps with a new tire for the car, medical bills or prescriptions. It is when people buy things they don't need and don't pay them off in a timely manner that the bills add up and they go into debt. It is not credit to be afraid of -- it is the use of credit and how responsible you are and respectful of it.
2007-09-02 12:07:19 · answer #3 · answered by dianaparisian 4 · 1⤊ 1⤋
If you use it wisely, having a credit card can be a very necessary convenience allowing you to have flexible spending--like, what if you see a great deal on an airline ticket on an online auction site? You'll need a card for that. People get into trouble by overspending and using a card like it's free money. It's not. It is very expensive money if you don't pay off your bill every month. However, if you do pay it off, you can not only have some convenience, many cards have perks like airline miles or cash back and you get that even if you pay your bill in full every month.
2007-09-02 12:03:41 · answer #4 · answered by Anonymous · 2⤊ 1⤋
Credit cards can be very convenient. You don't need to have as much cash in your wallet. My establishing credit, you can borrow for a car or a home or a boat later in life.
2007-09-02 12:06:22 · answer #5 · answered by hottotrot1_usa 7 · 1⤊ 1⤋
hi Chris you won't be in a position to borrow your way out of debt ..Write down all your debt each little thing.. those so referred to as consolidation companies are dropping their non earnings prestige with the government.. i don't think of student loans could join this anymore ,,yet take all your debt counsel to a lawyer and declare financial ruin..Get out your mess and overlook approximately it .. initiate a clean and spend basically the money you earn..
2016-10-17 12:46:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋
stay away from credit cards. Save your money for emergency. credit card companies make all the rules and can change the rules anytime they want. They are snakes and if you play with snakes you are gonna get bit.
2007-09-02 18:07:09 · answer #7 · answered by heybulldog 5 · 1⤊ 1⤋
Don't be afraid of credit. Be affraid of your own personal discipline
2007-09-02 12:07:10 · answer #8 · answered by Anonymous · 3⤊ 1⤋