So many people are drowning in debt and much of it is caused by credit being too accessible and tempting. You may have received all those mail outs from various companies telling you that you are already approved for yet another credit card. Then there are those annoying automated phone calls with an important message telling you that this is your last chance to lower your interest rates, yet another ploy to get you to sign up for a another better card. No matter how annoying it all is don’t cut up your credit cards yet!
You would think that if you want to get out of debt and not accumulate more debt that the best thing to do is to cut up all those credit cards so that you won’t be tempted to use them. Well, wait just a
minute before you do. I would be the last person to encourage anyone to get into debt as I know several people that have got in over their heads and are still paying the price even years later. I do not advocate having a number of credit cards either.
If you can’t trust yourself to curb spending and want to cut up all your credit cards good for you. However, I would strongly suggest that you keep one. Why? Have you ever tried to order anything online, tried to book a vacation or a room in a hotel where you plan to be next week? To get a PayPal account or buy music or books on line you need a credit card.
I got an Ipod for Xmas and one of the expectations is to give your credit card number in the event that you want to purchase music from Itunes. Everyone wants the number of your visa, master card or whatever card you have! The list is endless and for those that have gotten themselves into debt and have bad credit it’s more than probable that they cannot get a credit card and yet so many things are difficult to do without one.
I know a lot of people use their credit card and pay it off by the end of the month in order save paying interest and this is the ideal situation but it’s so easy to go over your budget be tempted to get more than you really need and end up with more on your credit card than you are able to pay off and it starts to mount up.
There are a lot of couples that have a joint credit card so if you have gone through a divorce or for some reason you don’t have a credit card it’s a good idea to get one in your name if you can.
If you do have a credit card treat it with great respect! Try your very best to use your credit card for emergencies only and for when you have no other means of ordering your contact lenses online, books, music, booking a hotel room and so much more. Keep things under your control don’t let bad debt take over your life.