Credit cards are great. So many banks have been offering them But i noticed some credit cards get paid automatically from your account. That way for me is not that great. What if you don’t have enough cash in the account.
I used to have a master card/visa when I was in the US. Boy I felt proud. I made sure that the minimum was low enough for me to pay and if I have extra I will just add to the minimum. The first few months even up to a year was ok. I was able to pay on time even when I got laid off from one job, I had to look for another and an agency to add to my income. But it got harder because I was charging almost everything and my income was not enough. I got addicted.
But the bad thing about having a credit card is sometimes you go over hill in buying.
Some tips to help prevent that from happening, through my experience:
- Don’t go to sales with just the credit card.
- Leave it at home if you have enough money to go back and forth to work
- Never say you will just go window shopping and bring your credit card. If you honestly just want to window shop, leave the card home.
- Pay your minimum on time and if you can pay more, do so.
- Before buying always think first : Is it necessary? Is it important? Do I need it? Can I afford it? If at least 3 are no, then don’t buy.
Credit cards are good if you can afford paying them. Before applying for a credit card read all the fine print and check what is their monthly payment and how you can pay. Having a credit card is like loaning from a company.
Now I prefer to pay cash, if I can’t afford it then I don’t need it. If I really want it then I save for it. The credit card is good for those with a steady job, one that pays well and you have an additional means of income. Having a credit card can be addictive.
We must all be responsible users.