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Americans Do NOT Need Credit Cards
if you are considering marriage then it is very important that your other future spouse is aware of any bad credit you have. which in turn can damage their eligibility to for future investments. yet credit card repayments create bills years after the fact. said that “bad credit could ruin a relationship even before the wedding. says “having an open credit card that you never use can also negatively affect your credit score…” In other words. If you are in a relationship or about to get into one then there are a number of financial issues to consider. One of the top financial issues to worry about is your partner’s credit. BCSallience. Americans should be aware of the dangers inherit in their use. For instance.” So. Bad credit can lead to emotional problems such as severe depression. You should be careful not to forget about interest rates. Possessing a credit card is a responsibility that cannot be taken lightly. The best way to control this debt is avoid getting a credit card in the first place. Although credit cards can be enticing. too. LaToya Irby. Credit cards should never be used to buy necessities except in emergency circumstances.CREDIT CARDS. Many people get a credit card at a young age and it ruins their credit rating for years to come. important investments such as buying a house or car. This will make it seem like you haven't had any activity making payments. wrote “maxed out and over-the-limit credit card balances make your credit utilization 100%. Some people vindictively go out of their way to make sure their ex will be paying for their debt for a long time. People shouldn't have to rely on a piece of plastic given out by credit card companies with sky high interest rates to pay for their daily needs. finding themselves in debt that they cannot repay. as they will add to your monthly payments. if you have a credit card but don't use it the issuing creditor may not report on your activity which can cause your credit score to drop. YOU DON'T NEED THEM Americans Do NOT Need Credit cards In today's society. If you need to resort to a credit card to meet these bills then this shows that you are not setting aside an adequate amount of money for necessities.827.1 years in credit card debt on average.” (Allmandandlee.and middle-income households is $9.com. Americans tend to have an over-reliance. especially in a relationship where feeling . and the report states that families spend 5. groceries and utilities on a regular basis.com). 2 Credit cards can have a detrimental effect on an individual’s credit score.” An author on another website. This is least ideal for your credit score. The damaging effects of a credit card can cause problems for someone even once the credit card is paid off and canceled. an author on About. nobody wants to have more bills than they can take on each month. By relying on credit cards an “average credit card debt of low. This can create yet more problems as their credit score will then take a beating. We all need to make sure we live within our means without digging ourselves into an ever deepening hole financially. They find themselves maxing out their credit cards and then being unable to pay back even the minimum payment. The paycheck you make on a regular basis should be providing you with the money to cover necessities. Reed Allmand said on his blog that “37 percent of low-income and middle-income households use their credit cards for basic living expenses such as housing. This over reliance means that more and more Americans are collecting and building up debt over the course of their lives. When they eventually meet the right person this can cause them not to purchase a house or a new car with their spouse.” according to an article on consolidatedcredit. An author from Ezine Articles. too. Charles Sellestor. Americans often get caught out with their use of credit cards. it can lower their credit score.com.org. A credit card with a large limit will incur large monthly payments in the near future. I would like to assure my fellow Americans that they can avoid these pitfalls and that they do not need a credit card. Americans are using credit cards as a crutch. When it comes to credit cards. Credit card debt can affect the way a person lives in a variety of ways. Avoiding credit cards can put extra money in your pocket.
” A credit card doesn't just affect you. When I turned 18 and got married. .000 dollars in credit card debt. it can be hard for us to purchase things. I tried to put my wife's name put on a car that we recently purchased but because she has too much credit card debt which is now in collections because we cant afford to pay it back. I am in college so that I can get a well paid job once I leave the military. If I take a look at what credit cards I have and what I owe on each then I can begin the pay my remaining balance off little by little. Soon. 3 I have quite an intense personal experience with credit cards and regret ever getting one in the first place. After reading information on the subject from a number of sources online.org. Because of this. “shopping takes on an entirely different meaning. This is where I recommendation against credit cards to other Americans comes from.CREDIT CARDS. It can become as destructive as any other addiction and result in a financial nightmare for the shopper and family alike. For example. articulates this perfectly.000 dollars in credit card debt. YOU DON'T NEED THEM unable to provide or purchase for a loved one can leave someone feeling inadequate. Unchecked spending facilitated by credit cards can even leave people in rehab! They become “addicted” to the world of short term availability opened up by a credit card and cannot control their urges. I think that Americans should think twice before they rush out to get a credit card which will leave them with a bigger financial burden than they already face.. At the time I knew nothing about interest rates and just how quickly they can impact upon the amount of money owed to companies. The only thing holding them back from purchasing something for their spouse is that they have bad credit because of their past debts. At this moment in time. For the past few years I have suffered with a credit card debt of thousands of dollars. acquiring a credit card is damaging in the long run and you end up giving yourself a bill that you will be paying off for years to come. The website. getting a credit card was a bad decision as years later I still have about 3. I couldn't add her name to the loan without first putting down a larger initial payment. In my personal experience. my wife and I decided to take out a credit card. When looking at the advantages and disadvantage of a credit card it becomes clear that the disadvantages outweigh the advantages. With hind sight. thinking we could afford it. it also affects those who are dear to you. we racked up a sizable debts. getting credit card after credit card. My wife has over 15. recoveryconnection.
Retrieved from http://ezinearticles. C.php Sellestor. Retrieved from http://credit. (2009.about.com/bankruptcy_blog/creditcounseling/more-americans-relying-on-credit-cards-to-survive/ BCS Alliance. How Credit Cards Affect Your Credit Score.CREDIT CARDS.allmandandlee. YOU DON'T NEED THEM References Allmand & Lee Bankruptcy Attorney. Retrieved from http://www. January 27). How Bad Credit Affects Marriage. (2010).consolidatedcredit. (2009.recoveryconnection. (2010).com/od/creditreportscoring/tp/credit-score-hurts.htm Recovery Connection. (2009.bcsalliance.html Consoldidated Credit. 15 Things That Hurt Your Credit Score. Retrieved from http://www. July 29).).d. August 11).aspx?aid=339 Irby.com/?How-Bad-Credit-Affects-Marriage&id=1926246 4 . Retrieved from http://www. (n. Retrieved from http://www. Find a Compulsive Spending Treatment Program TODAY.org/addiction/compulsive_shopping.org/press/articleview. L. More Americans Relying on Credit Cards to Survive. Families with lower incomes relying on credit card debt.com/credit_creditcards.