From the very beginning, friends and family alike have been warning me about the dangers of using a credit card - that is, it’s very tempting to rely too much on it. Spending money that you have not earned yet seems appealing but it also opens doors to financial difficulty much later.
At first, it’s using the card to purchase basic necessities, like in doing groceries and to buy clothes and other important stuff. Then, you’ll move on to buying luxury items. For me, I splurged on books, techie stuff and gadgets, sports (badminton) equipments, and other things that are more on the “want” category than “need.” It reached a point where I was already searching for a company that repairs Bad Credit because I’m not able to pay the bills promptly. Now, this is very important to not only because not settling your dues will affect your financial credentials and eligibility to apply for important loans or even to apply for installment plans on purchases. Most importantly, a bad credit score means a really bad time of paying overdue bills and steep interest rates. If you only pay the minimum amount monthly, it’s like only paying for the interest; your credit doesn’t go anywhere and it may even force you later on to get bank loans just to cover the credit card bill and Fix Credit. I tell you, it feels so bad to work so hard every single day and have your hard-earned money go straight to the credit card company. It’s so not worth the thrill of acquiring new things. The point is, I learned that nothing good comes out of living beyond your means. Better to save money first before buying anything you don’t really need - if it’s not a matter of life or death. A Credit Report Dispute will cost a lot more so better not get used to “rewarding yourself” all the time. I’m not saying that owning and using a credit card is evil; but not being diligent about where and when to use it may lead to too much troubles and headaches.
