Credit Cards, LIfe Savers or Hellish Providers?

Fresh on my own I received my first credit card. The idea was to use it for emergencies and to use it carefully to build credit. The idea was a good one and for the first six months of having it I did really well. I got a second card and my limits got raised higher and higher. It was great and just what I wanted. Then I had to use it for an emergency and the bill went really high. Once it was up that high it was easier and easier to say, "hey, I can afford the minimum balance plus just a little so it's all good." Circumstances made it harder and harder to pay and it was easier and easier to use it to treat myself. "Life has been hard lately, I deserve a good meal out or this new item." Soon my cards were maxed out and my minimum payments were getting me no where. Then I couldn't even afford minimum payments. It all went down hill from there and with interest, I paid a lot to get free.

My situation isn't the only one. There are tons of people who get sucked in and get in trouble with credit cards. Of course it doesn't have to be that way. Credit cards can be very useful. The trick is to spend what you can afford, really truly afford, and pay them off quickly. One must avoid any circumstances that bring more fees (if at all possible) such as late fees, over balance fees, and all that jazz. But it must be known that a good credit card can also help one get out of debt. If you have a low interest or a lower interest payment that can really make things easier. So, if you find a good card a balance transfer might just be the thing to aid one who is in debt.

Then there is the fact that rewards credit cards can give you rewards such as flier miles, and gifts for doing the spending you would already do. If this is an approach that appeals to you then use the credit card for your monthly spending and pay it off at the end of the month or at least pay most of it off at the end of the month.

Credit cards can be good things, or they can be nightmares. Your decisions can make it so. You can decide how, when, where, why you are going to use your card and how you are going to pay it off. Spend responsibly to save on the nightmare that I had to go through.

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