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Are You A Credit Card Junkie?
Credit cards are of great help, if used properly. They are a helping tool for borrowing short term money or to buy things online. But at the same time, if you don’t use the credit cards properly you can spoil your life and may end up becoming a slave to plastic money. There are four ways to know if you have become a credit card junkie? If you are not making full payments monthly instead clearing off the minimum payments only, you will find yourself very soon under a huge debt as interest will be charged till you clear your whole debt. If you are taking cash advances to clear other loans or expenses, you are in trouble as the interest charged on cash advances is very high and is charged from the day you withdraw the amount. Also if you have 3-4 credit cards, don’t use all the cards up to their credit limit. Some times, some shops give you lower price for not accepting the credit cards; don’t avoid them as you need to balance the expenditure on your credit cards and the amount you can pay.
Credit cards if used properly can be a terrific way to manage your finances. Some may relish the idea of being able to transfer outstanding balances to 0% cards to provide time to sort out their finances.
Read More: Four Signs You're A Credit Card Junkie
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