Using Credit Cards Wisely
October 5, 2007 – 9:29 pmThe other day, I wrote about my usage of credit cards and a reader asked me how could I resist the temptation of charging them? Frankly, although I have quite a few cards, I do not carry them all when I go out. I just take one but I would still rather pay cash when making purchases.
However, most of my online purchases are bought using credit and debit cards. Hence the numerous cards I have.
Anyway, I find that most people cannot resist the urge to shop with their credit cards thinking that they can always settle the bill at the end of the month. Once this habit is formed, we will find ourselves paying off old credit card debts. Prolonged mismanagement of income vs. expenses will cause us to suffer financial hardships.
It must be difficult to keep tabs of the various credit card debts so one solution is to look for credit cards with 0% balance transfers. Although there are quite a few, we have to realize that not all 0% credit cards are the same. Do you know what is the True Cost Of Balance Transfers? Check the terms first and find out how long this 0% is good for. Is it three months? Six months? Or a year?
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One Response to “Using Credit Cards Wisely”
Yes! You know the thing! I also 1. prefer to pay cash 2. not an idiot to charge whenever I need to buy something. How did you come to such position? It’s not a custom of usual people in the Western hemisphere.
By Economic and Culture Observer (Lenno Cornish) on Nov 21, 2007