February 6

My View On Credit Cards

Hey everyone,

I’ve been criticized by some people for using credit cards.

I understand why some people don’t like credit cards.

They have high interest rates; easy to use; and can get anyone into debt if he or she is not careful.

However, credit cards have been beneficial to me.

Here’s why:

  • I pay off my credit card balances online every week. Because of that I avoid paying interest.
  • I only use credit cards to spend money on items I have budgeted for each month (e.g. Groceries, Gas, Personal Needs).
  • I won’t use my credit card for splurges (e.g. Clothes I don’t need).
  • I don’t use credit cards for big purchases. I save up money for those.
  • It’s easier for me to dispute fraudulent charges on a credit card than a debit card.
  • I don’t have to worry about holds on my bank account (like I do with a debit card).
  • I get gift card rewards for using my credit cards once a month or once a quarter (depending on how many points I have).

Overall, credit cards have not been an issue for me because I have been responsible using them.

I own my credit card (rather than it owning me).

Let me know what you think.

Thank You and Have A Great Day,

Millennial Buddy

 

 


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Posted February 6, 2018 by Millennialbuddy in category "Personal Finance", "Uncategorized

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