Are You Being Seduced By Credit Cards

I once heard someone say that having credit cards for some people can be just as dangerous as using drugs

. Now granted, credit cards will probably not have the impact on your physical health that drugs do and if you have to have a mug shot taken, you probably will not look like death reincarnated. But your mental and emotional health can be severely impacted as a result of the debt that these cards can bring.

One big difference is that drug dealers do not usually seek out buyers, but credit card companies do. If you have reasonable credit, these financial institutions will come looking for you through your mailbox and even your email box. These companies make these offers sound very appealing. You may have zero percent interest for a period of time, but break one of the many rules that apply and you will see that number increase overnight.

As long as you make your minimum payment on time, a credit card company will always be your friend. You will get regular limit increases and convenience checks which both make it very easy to add to your debt. Now, this does not have to be a bad thing as long as you understand fully the terms of the card and do not charge up to your limit. But for many people this is not the case. If this is your situation, it will not take you long to figure out that it will take you a lot longer to pay the card off than it did to charge up the balance.

If you have debt, you are not doing yourself any favors. Six months later you probably won't be able to name half the things that you bought with the credit card and it will be many months after that before it will all be paid for in most cases. So, it is important to form good habits when it comes to the management of your credit and your credit cards.

If you are unfortunate enough to have debt, you do have options for paying it off. If you need help a credit counseling company offers your best alternative for getting help. They are nonprofit and in the business of helping people get out of debt. They can help you develop a budget and enroll you in a debt management plan. If you are better off using debt settlement or bankruptcy, they can also point you in the direction of professionals that can help with these methods.

by: Marjorie Salada

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