Why You Shouldnt Use Credit Cards - 977 Words

The credit card companies and banks are getting richer, while most Americans are getting more in debt. The economy is in trouble, therefore, more and more people are relying on credit cards. In today’s society we are constantly trying to get out of debt, but in the process of trying to get ourselves out of debt, we create more debt. One of the major problems that most of us are dealing with is credit card debt. Most credit card companies are not looking out for your best interest. They are constantly raising interest rates. Minimum payments are just enough to cover the finance charges. Most Americans should not use credit cards for the following reasons: it will create bad spending habits; you will incur more debt affecting credit†¦show more content†¦We live in a world that is filled with criminals and con artists. They are always larking to find their next victim. This is an easy way for them to obtain sensitive information, make money and purchases that will benefit them while making your life complicated. From a personal experience, someone stole my credit card information and personal information. This person rented a U-Haul truck and kept it for months and decided to make purchases at Home Depot. I was stuck with the task of contacting the credit card companies and the authorities. You are forced to prove that you are not the person that authorized payments and purchases. You are subject to denial while trying to obtain credit from other companies. Sometimes it isn’t always a cut and dry situation to get through, but can be a very time consuming and expensive process. Credit cards aren’t bad when used properly, but could be if used improperly. We should make sure we know the difference between what we need and want. We sometimes justify a purchase by saying ‘I really need it†, but we should ask ourselves â€Å"what will happen if I don’t get it?† Once you ask yourself that question, then at that point is when you determine whether or not it is worth using. Improper use of a credit card will lead you quickly into debt. It is better to make a purchase with cash or debit card than with a credit card. If you are unable to afford something you really want, it is best to save and buyShow MoreRelatedWhy I Need Discipline At Snowball Pay My Debts With A Snowballing Technique1707 Words   |  7 Pagestechnique uses a little bit of budgeting (which is tough), and you will need a fair amount of discipline to pull it off. Why Will I Need Discipline To Snowball-Pay My Debts The reason is that as the money builds up in your account--it starts to look awfully tempting. 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