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| A Credit Card is a Good Thing! |
| By Sarah Lemp |
 It’s true. Having a credit card is a very good thing if you know how to use it. Treat the decision to get a credit card like a life-changing decision. Never apply for the first one you see, and shop around for low interest rates, long grace periods, and a low credit limit to start out with. If you know you don’t have much room on your card, then you won’t spend as much.
The myth that a credit card is an evil thing is only a truism when the cardholder is irresponsible. A credit card can help you establish credit in order to get an apartment, loan, car, cell phone, hotel room, telephone, cable, pay for emergencies and many other necessary things in life.
The secret to having a credit card is to spend only as much as you can pay back in a reasonable amount of time. If you make minimum wage and only work 20 hours a week with a car payment and insurance payment, spending $500 on a new stereo system for your car on your credit card is not a good thing.
Common sense is the key to having a credit card and being able to maintain it without going into debt. Keep in mind that a credit card is not the only way to establish credit, but it is one of the best ways. Having good credit is important in life. Therefore, having a credit card and using it wisely is a good thing. |
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Comments: |
On Tuesday, 5 Jan 2010, Kelsey said:
I agree totally. Credit cards are dangerous if you treat it like a card full of money so you get to go shopping. NOT! It's a card that's full of money I suppose,the catch is, you have to pay it off no matter what. So keep one card, learn how to use it, and when your in a pinch, its always nice to have the card.
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On Friday, 2 Feb 2007, Dan H. said:
I agree. Think of a CC as a tool. Make sure you have the mindset that it is just like cash. You have to have the cash ON HAND to back up the purchase or you will be in trouble. |
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On Monday, 18 Jun 2007, BaDee said:
Before you start shopping for credit cards, read The Total Money Makeover by Dave Ramsey. It is very enlightening. |
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On Tuesday, 19 Sep 2006, PENNY said:
i just keep one card. its makes it easier. |
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On Friday, 7 Nov 2008, Mike H said:
Be careful. A credit card can ruin your credit faster than it can improve it. |
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