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Credit Cards

Posted on: Thu, 05/07/2009 - 19:35
Credit Cards

One of the biggest lies we have been conditioned to believe is that creditMoney loaned or the ability of an individual or company to borrow money. cards are for emergency expenses. I have a tough time with this one myself. We always have emergencies and if you think that way you will slowly (or quickly) slip further and further into debt. Credit cards should be used to facilitate transactions that you already have the means to pay. For emergencies you should establish a fund in the bank to deal with those emergencies and replenish it whenever you are forced to use some of it. Unfortunately credit card companies and banks are very unlikely to try and help you see this. It is to their advantage for you to be in debt to them and stay that way.

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Posted on: Sun, 05/10/2009 - 08:28 #1

If u can do without creditMoney loaned or the ability of an individual or company to borrow money. cards, do it! They will end up creating emergencies for you before they solve any. Once I get my finances back in order from this personal situation I am going through, I will have 1 small credit card at best. I am paying cash for everything from now on. Heck, I won't even use my debit card any longer, pure cash!

Posted on: Tue, 05/12/2009 - 18:25 #2

I agree with Fergie, too many creditMoney loaned or the ability of an individual or company to borrow money. cards will get you into trouble. Believe me, I know. I once had about ten credit cards with balances ranging from $500 to $5000. I was finally able to pay them all off, and now I have just two credit cards....one for emergencies only (car breaks down, death in family in another state, etc.), and one that I purchase small amounts each month (maybe $50), and then pay it back as soon as the bill comes in. That way, I'm continuously building my credit.

Posted on: Wed, 05/13/2009 - 14:28 #3

We have just recently been able to pay off our creditMoney loaned or the ability of an individual or company to borrow money. cards. I have been tempted to just cut them up, so we won't be tempted to use them again. But, we have been told that we need to keep them open to improve our credit score.

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