July 22, 2013

Credit cards are pieces of plastic and no more. How does a person use them foolishly? How should a person use them wisely?

3 thoughts on “July 22, 2013”

  1. Katherine Graham says:

    Foolishly: Don’t pay your credit card bill off in full every month, don’t set your payment up as an automatic payment, if you are not an organized person, have more than two credit cards, don’t avoid store credit cards, use a credit card in an ATM machine, use cash advance checks, and don’t read your benefits brochure carefully.

    Wisely: Pay your credit card bill off in full every month, set your payment up as an automatic payment, stay away from credit cards if you are not an organized person, have one primary credit card and one backup, avoid store credit cards, never use a credit card in an ATM machine, never use cash advance checks, and read your benefits brochure carefully.

  2. Macala says:

    Some people use credit cards without thinking about actually using their “money”. A piece of plastic is much easier to use than handing out dollar bills. People usually spend less when they are paying with real money vs credit cards. Also, people who are not wise don’t pay off credit cards monthly. They only pay the minimum balance and accumulate interest charges!

    A wise person pays off credit cards in full monthly. They use one or two credit cards and keeps track of their spending and have a budget they follow. A wise person understands how opening a new credit card or closing past credit cards can hinder a persons credit score.

  3. Mike Finley says:

    Well said, ladies. We can learn a lot from this great advice from two women in their 20’s. I have little to add, but this. That stupid piece of plastic is not evil nor is it some wonderful angel sent down from heaven. It is a device that can be used to decimate one’s financial life or make it more convenient and organized. The power lies with YOU and how YOU use that card. Be wise.

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