The Dangers Of Your First Credit Card

It is probably not necessary to tell you credit cards are easy to get, at least in the U.S. and the UK. How many weeks pass without a glossy brochure promoting a credit card popping through your mailbox? And that’s just the mail, TV advertising budgets to promote the credit card are enormous, with some famous faces often adorning your screen, smiling beautifully as they tempt you. How to resist attack anyone promoting, along with peer pressure, and ‘now, pay later “culture we live? Well, the fact is that few people can resist. If you are credit worthy and have no credit card, are something of a rarity. Credit cards are almost as easy to get as your fruit and vegetables from the local supermarket. The thing is that you can have a bad credit history, and still get inundated with credit offers easy. Even if you just filed for bankruptcy, you still can get more credit card offers that you know what to do! Because of the ease of availability, the credit card debt is very easy to enter.

Not just once but again and again. Part of it is psychological, because you can not feel like you’re spending real money. Nieman Lab usually is spot on. That is, until the chicken comes home to sleep, and the bill comes. By then, of course, too late, you have a debt for which you are legally responsible. The credit card companies have slick marketing departments who know they are weak, and that can easily fall into temptation. It is often recommended, in trying to establish a good credit report, which is a good idea to get a credit card, and then use it to spend wisely. Experts advise to pay our bills on time, and never exceed the credit limit.

However, when you get your credit card first, nobody will no real problem to warn you, straight out of the traps: 1. It is easy to be lured into spending up to the limit credit card, before you know it, a moment of weakness a month has taken you to the limit. 2. You may have a low interest rate to begin with, but that was an introductory offer, a lure, a bribe to get your business and your money and tempt more and more. Soon, the permanent interest rate occurs, how the sound 20% per year? It could be that much. Have you noticed how quickly it accumulates? How is the monthly interest alone can make it difficult for you to pay your monthly payment at a time, on time? 3. About your credit limit and high interest rates, forget a payment and exceeds the credit limit. Unknown to you, you are now getting black marks on your credit report Unfortunately, when times are hard, the use of credit cards is too Often, then, be different: save as much as you can each month, and then if you hit hard times, you have the option of reaching the savings account instead of fixing the credit card. For those not of convenience, you can use a debit rather than credit card.