Information on
best credit cards to transfer balance
Why Credit Cards are a Bad Idea
Credit cards are just so convenient, arent they? Theres no need to carry any money with you ever again: you can just take one with you to the shop and pay the exact amount just by handing it over. If you havent been paid yet, then you dont need to worry, because the money will still be there.
When you shop on the Internet or over the phone, its the only good way to do it what else are you going to do, post a cheque? Like anything convenient, though, credit cards have a flip side in fact, they have lots.
Can You Keep Track?
When you walk into that shop and hand over the card, the money is taken from the card, and the card goes back into your wallet. You still have all the things you started with theres no less money in your purse or wallet to remind you of what youve spent.
Everyone has a tendency to underestimate what they spend, and smaller amounts can add up quickly on a credit card without you even noticing. Its like taking the way phone bills work and applying it to everything you buy and that cant be a good idea.
Money For Nothing.
Using credit cards is a great way of losing a percentage of your income to a credit card company in exchange for nothing. The moment you run a balance, youre paying them interest. Not only that, but youre paying your credit card bill as soon as you get your wages, so you dont have the chance to earn any interest on them from your bank. When you think about it, youre losing out twice over and for what?
Designed to Keep You in Debt.
Your credit cards are trying to keep you using them and paying interest. You will find it very difficult to pay off all your credit cards once you have them. The company will do everything they can to stop you paying before youve paid them lots of interest. The more debt you show you can pay back, the more theyll try to offer you, until they get you to the point where you cant pay.
The Lie in the Name.
Credit cards are called credit cards to avoid saying what they really are: debt! You will do much better in all things connected to credit cards if you always remember this simple mantra: credit cards are debt cards. Use the word debt as often as you can whenever you talk about credit cards.
But Sometimes You Cant Avoid Them.
When you need money in an emergency and you just dont have any, theres no doubting that credit cards can be useful. They are also a very useful way of proving to credit rating agencies that you can handle debt, and this will be taken into consideration when you apply for car loans or a mortgage.
Just remember that whenever you handle credit cards, youre playing with fire. Do everything you can to keep your use of them to a minimum, and youll have a much better financial life.
About the Author
Ken Austin is the webmaster at Debt Consolidation Information and Credit Card Debt Relief
More Useful Resource and Updates on best credit cards to transfer balance
- UAE link to credit card fraud investigation (ITP.net)
Credit card details stolen in UAE used for fraudulent transactions in US
- 6 Tips to Avoid Credit Card Late Fees (About.com)
In 2008, more Americans face higher credit card bills than last year. Seniors and others on a fixed income are especially vulnerable to making mistakes that result in high credit...
- Credit card theft reported (Connecticut Post)
MILFORD - A home health aide from Weston was charged with larceny and credit card theft Thursday, after police stopped the car she was riding in and allegedly found credit cards and checks stolen
- Credit card crime committed during supervised release (The Des Moines Register)
A Cedar Rapids woman is going back to prison for stealing a credit card number from a woman at a homeless shelter and using it to order $2,837 in computer equipment and a $298 stereo system.
- Is Your 'Contactless' Credit Card Secure? (About.com)
You have probably noticed that most retail establishments now have you swipe your own credit card. That is based, at least in part, on a goal to never have your...
- Two sought in stolen credit card case (The Patriot-News)
Police continue to search for a man and woman sought for questioning in a stolen credit card case. The stolen cards were used at the Wal-Mart in Swatara Twp. on Aug. 10 shortly after 5:24 a.m.
- Thief signs own name to stolen credit card (Houston Chronicle)
Police didn't have much trouble finding a man accused of using a stolen credit card ? he signed his own name on one of the receipts.
- Gladstone Homes Launches Live 4 Free Event: Homebuyer Relief from Grocery Costs, Credit Card Debt and Utility Bills ... (PR.com)
During Gladstone Homes' ?Live 4 Free? event Sept. 12 through Oct. 5, families who purchase a Gladstone home will receive a year?s worth of groceries free, as well as having their utilities and credit card bills paid for a year. In addition, Gladstone will provide $20,000 in free luxury upgrades and options. [PR.com - September 06, 2008]
- Woman accused of using credit card fraudulently (The Nashua Telegraph)
A Milford woman is accused of stealing a credit card and using it to buy thousands of dollars worth of clothing and jewelry at stores in Milford and Nashua. ...
- Crime Stoppers offers reward in credit card abuse case (Humble Observer)
On June 4, an unidentified suspect broke into a woman?s vehicle and took her purse, which contained several credit cards. When the victim called to cancel her cards, she was informed that her Visa card had already been used twice.
| 
