Credit Cards
What makes a credit card evil vs. what makes it a trusted companion?
What makes a credit card evil vs. what makes it a trusted companion?
The user! Credit cards are stupid pieces of plastic. No more and no less. It comes down to how the individual uses that piece of plastic. That will tell the tale!
A credit card becomes evil when the individual runs it up without thoughts of what the bill will be, makes minimum payments on it because “that’s all they require,” and allows compound interest to devastate their bottom line. Within a short period of time, the card ends up controlling their life and negative things flow quickly downhill.
A credit card becomes a trusted companion when the individual uses it reasonably, pays it off in full every month and understands the many benefits that include fraud protection, price protection, extended warranties, car rental deductible protection, rebates, and more. It’s all in how the individual handles the credit card. Use it wisely or get rid of it!