CREDIT CARDS. The Price You Pay
Banks woo you with their Credit Cards and their sizzling offers and you are tempted .Of course, who doesn’t want to flaunt their credit card and go for big purchases without having to worry about the price, especially when you are among your friends and you want to impress them?
Credit Card can be traps for you if you do not know how to control your spending habits. Going for what you cannot pay, will do you no good. Instead, debts will keep on mounting; you must know that debts grow faster via interest than you think. You will be surprised, from where did that much debt came up. You will not want to fall in a situation like that.
Most credit card debts are result of paying for your foods, groceries and making similar small payments through your cards instead of using your cash. Be safe; use your cash for such things. It is an act of foolishness to pay interest for these things.
Be regular in making your monthly payments, you will not only pay the late fee but will be paying the interest for the whole amount. Credit Card companies reap more profits from your late fee income. The price you pay for your ability to go for big purchases is not cheap as you may think.
Having more than one card means having to pay more fee and charges, you will be tempted to spend more, until you are tempted to use cash advances. Cash advances do not come cheap. The interest begins immediately and is higher. In addition to this, unless you repay all your previous credit advances in full, cash advances will not be considered repaid. Before enjoying any credit card benefits, know your credit card limitations, these benefits may not be the worth you think it is.
tags: credit card, price
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