Here’s a truism that just seems inarguable: Many Americans — a great many, indeed — find credit cards to be simply compelling.
That applies to both cautious users of cards and consumers who frequently flash them and think nothing of using them to pay for most goods and services.
What is it that accounts for the nation’s obsession with such cards?
Well, there is certainly that instant gratification thing. Whatever it is a consumer in Texas or elsewhere wants, he or she can have it right now in most instances, even if it might end up being a bit painful paying for it later.
Some people might also get an ego-enhancement boost from using their credit cards, especially if they’ve qualified for a number of them. Then, too, there are enticements like cash back, gas discounts, frequent-flier miles and so forth.
All of those things help account for the dire straits that many people eventually find themselves in when card costs begin spiraling out of control. And those hard times can be exacerbated when cards must be used to pay for life’s necessities or emergencies that suddenly occur.
Many of us admittedly feel forced to use one or more cards sometimes for things we really don’t want to or know we shouldn’t, and doing so creates sobering debt problems for many people. Given that, a recent article cites a few things that should never be paid for with cards, if at all possible. They include these items:
- Weddings — How easy is it to amass a mountain of debt on this event if paid for with credit cards?
- College tuition — It costs thousands, and cheaper financing alternatives are available
- Vacations — Why not save a bit each month over time, have a blast and then come back home debt free?
- Medical bills — This one is obvious; negotiate terms with providers
Credit cards can be a blessing, but they can also be a curse. A debt-laden consumer with serious payment concerns regarding card debt and other types of bills can receive candid, confidential and knowledgeable advice from a proven debt-relief attorney.
Source: Valley News Live, “Five worst things to put on a credit card,” CBS MoneyWatch and Credit.com, May 2, 2014