5 credit card mistakes to avoid
Unwise or irresponsible use of a credit card can wreak havoc on your finances, especially if you commit these potentially costly errors.
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I'll do it my way - I continue to pay it off each month..... and only use reward cards with no annual fee.
In my opinion, it all boils down to self control. Self control is the ability to tell one's self "No you can't", or " Not now, maybe later, if, and when it becomes feasible for you and your circumstance".
Self control is indoctrinated in one's children during their formative years.
Because it seems to be considered anti-establishment by some, and at the same time anti- liberal (realistically conservative) by others, it is not available as p.s. k-12, or university cirriculum. Thus, it becomes the responsibility of the individual to be self learned. True, it is basic will power, but where do you imagine that comes from? Or the lack thereof?
Some people make me smirk really. I understand using a creditcard may increase your tendency to use money than paying with the actual money, but then how is that going to help you to build up the credits? For instance, what if you're planning to purchase a new car, or a house in the future? You're always better off with good credits in real life. Yes, it can be a bad idea if you have spending problems obviously, however there are plenty of creditcards that offer cashback too which I find it very good. It's simple people. It's a borrowed money, so you MUST PAY IT OFF. If you can't afford pay it off, then cash is your best option.
Since then I have rules: I never charge more than I can pay for, I pay in full every month, if the item is less than $100.00 I pay with cash.
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