Credit Card Debt Concerns | 09.25.09
I just have to laugh when I hear people say that credit cards put you in debt. I believe what they are really trying to say is, I’m irresponsible and can’t control my spending ways. That would at least makes sense to me.
The fact is credit cards serve a real purpose if used wisely. They help establish credit and are great for emergency situations. Of course your definition of emergency may be different from mine. A clearance sale on shoes does not constitute an emergency.
But if you feel you can not exercise self restraint, than a credit card is definitely not for you. You’ll run up a high balance and destroy your credit history. And should this happen to you, and I certainly hope it will not, just remember it won’t be the plastic that put you in debt.
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So very true. I have a friend who has 3 credit cards maxed out and has no means of paying them off anytime soon. She doesn’t even seem to care. It seems like nothing I’ve said sinks in. Oh well I’ve done all I could.
WOW. That is harsh! I don’t think people mean the card put them in debt but it is a classification of a liability. I am in debt. To whom? A creditor vs. a lender or a mortgagee.
I think it’s 50/50 because of the rates and most of us are not responsible at 18 and that’s when you can use a card.