Credit Cards Are Not Free Money

[Monday, January 16th, 2012]

For most people, credit cards are an integral part of their lives. Really, it’s very convenient to have one credit card or two in your wallet instead of carrying a lot of cold hard cash, isn’t it? You come across a thing you want to buy impulsively, you take out your credit card and the thing is yours. Gas? Food? No problem. You can use your credit card to make your everyday purchases and to pay your bills. Needless to say that a credit card is very helpful in case of emergency. And all those possible rewards the credit card companies can offer you.

But you should always remember that a credit card is money you borrow and must pay back. The more you spend with your credit cards, the bigger is your debt. And debts, as you know, are not something you should accumulate. So, try to pay off your credit cards on time and in full (if possible).

It is advised to think twice every time you want to swipe your credit card. Do not use it to make purchases you cannot afford. Speaking about your credit score, maxing out credit cards is also not a very good idea. It is okay if you spend 30% or less of your credit limit.

So, as you can see, it is not enough to have a credit card, it is very important to handle it carefully and responsibly.

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