Credit Cards Are Not For Debt

May 9th, 2009

debt0An increasing number of people are now trying to make do without credit cards.  Since credit cards seem to be responsible for a lot of the mess consumers are in now, they’re probably evil, right?

Wrong.

While you can use credit cards for incurring debt, it’s hardly the prescribed way to use it.  Debt is like a grave you dug for yourself.  Even when you have no intentions of jumping in, it’s so easy to slip and end up at the bottom.

Credit cards, if you employ them responsibly, are a terrific convenience, allowing you to carry out transactions without having to carry a stash of bills, earn bonus gifts and plenty of other perks.  As long as you live within your means, credit cards aren’t a bane – they’re a tool that makes life easier.

Once you get your mind around to the idea that credit cards are a good way of incurring debt, for whatever purpose, that’s when things take a drastic turn.  Debt, especially when taken out for expenses that won’t net you anything (the way a business credit will do), becomes a mere burden.  You’re essentially exchanging your future income for today’s convenience – not the most intelligent thing to spend your financial ability on.

As long as you can avoid using credit cards for debt, you should be able to make your way through life – even with a dozen credit cards in tow – relatively free from financial shackles.  If you chose your accounts wisely, you might even be enjoying a few perks along the way.

noel Posted in Credit Card Guides

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