Now I was just thinking, are Credit Cards good or bad?
I currently only own 1 credit card and it is a Visa with my local credit union. The interest rate is decent and my limit is not high which is what I like.
Now originally I owned a few credit credits and it started out with my car. I needed a bigger down payment because I had ‘new credit’. So I put some money on the card and it pretty much went from there. Small purchases here and there like gas and food (when I couldnt afford food). Then came the next card. A trip on that and more food/gas. Then yet another card. Same story for the third card. A trip, gas food and whatever little purchases I needed to make.
Pretty soon I had 3 maxxed out credit cards and nothing really to show for it but a headache from the debt. So what did I do? I went to my local credit union and applied for a consolidation loan. This helped me consolidate all my debt into one nice payment with lower interest rate. Now sure I am still paying for that loan but I no longer have three credit cards that their interest rates range from 18%-26%!
On the other hand I don’t know if I could not survive without a credit card. Especially when booking things like reservations at a hotel, going on a cruise (which I did to Alaska) or seeing a play at the local theatre. Sure there are people that disagree and I’ve meet people who have never had a credit card and have never wanted one and get by life fine. With those people I suppose cash still is accepted around the world, but I have not yet figured out how you can reserve things without the use of plasitc.
Now this is a paid post and the above are my experiences with credit cards and luckly included in this post are two links that I believe can be helpful to anyone with a credit card and looking for more information about them. Both links are from the same site and offer valuable advice: credit card news and credit card advice.
If you have any thoughts/experiences with credit cards I’d love to hear about them!
This has been a payed post and is sponsored by PayPerPost. The above comments are my own personal experiences with creditcards and does not reflect anyone else in the PayPerPost Community.