Credit Cards 
- Credit cards are a method of payment for cardholder’s. The cardholder’s make purchases based on the promise that they will pay the money back at a later date.
- Credit cards are supposed to be used for convenience.
- Although, people often abuse the fact that you are able to get multiple credit cards and the fact that you only ever have to pay the minimum payment at the end of each month. This often results in an uncontrollable and unpayable amount of debt.
- The longer people wait to make the full payments for their credit cards, the more it will cost them in debt.
- When people have more than one credit card it often leads them to believe that they can spend more than they really can. And, this often ends in a lot of debt.
- To avoid debt, credit cards users need to pay off the entire balance on time, at the end of each month as well as limit themselves to an appropriate amount of cards.
- Overall, by using credit cards responsibly I will be able to have another option of convenient payment that may even improve my financial situation over the long term without having the worries about debt.
- References:
- http://www.realsimple.com/work-life/money/common-credit-card-mistakes
- http://www.fcac-acfc.gc.ca/Eng/forConsumers/lifeEvents/teachingChildren/Pages/Teaching-Sensibil-1.aspx
Good points, could have explained them a little more but you used great points to describe how to use and what credit cards are.
ReplyDeleteGreat post. Explained at a rather basic level but easy to follow and i belive it hits all the major points about credit cards.
ReplyDeleteGreat post. Explained at a rather basic level but easy to follow and i belive it hits all the major points about credit cards.
ReplyDeleteGreat post. Explained at a rather basic level but easy to follow and i belive it hits all the major points about credit cards.
ReplyDelete