Credit Cards 101 – Don’t Spend What You Don’t Have

Plastic. You’ve gotta love it. Never any reason to have to carry cash around. Ever since I turned 18 and got my first credit card, cash has become almost obsolete in my life. Why carry a wallet full of cash when you can just carry a credit card (or 6 if you’re like me). Credit cards have many pros, but there are obviously some cons as well. I use my credit card constantly, but I never charge anything that I won’t be able to pay off in full when the bill comes.

The Good

  • Credit cards help you establish credit
  • If your wallet gets stolen, many credit card companies protect you from fraudulent charges – your cash would be gone
  • Easy to carry, easy to use, accepted almost everywhere

The Bad

  • Debt – some people see credit cards as “free money” and continually max out
  • Late payments – if you pay everything with cash, you don’t have to worry about paying credit card bills
  • Interest rates and late fees

Credit cards obviously have a lot to offer, and there are positives and negatives that come with them, but if you’re a responsible person who typically pays bills on time, and is able to “don’t spend what you don’t have” then you’ll be fine.

PS – Always look for low interest rates like these ones Credit Card UK

Leave a Reply

Your email address will not be published. Required fields are marked *