Responsible Credit & Card Use
The credit card, however, is to be used lightly and maintained diligently.
The consequences of irresponsibility are harsh and unforgiving.
It’s all too easy for that $100 purchased to cost you $200 in a matter of days.
Studies have proved that people are far more inclined to complete a transaction with a credit card than cash or debit.
The psychology of spending the money doesn’t catch up with us until later when the bill from the bank arrives.
In order to remain secure one should pay off their credit card regularly, which is set by most banks as a month to month.
This is in place in order to avoid harsh interest rates to the already expensive receipts that have been racked up.
The ‘debt trap’, as it is commonly called, is a vicious cycle too easy to fall into and gruesomely difficult to overcome.
