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Will I Go into Debt If I Have a Credit Card?

The answer to this question is a tricky one, and honestly you could.  I did, but with discipline it actually can be a rewarding card that actually makes you financially responsible if you use one.  Let’s back up a second when I said I did go into debt.  Credit cards do open you up to a new world; a world of spending.  You can make any purchase you want, within your credit limit of course, but even that can be extended as you approach your limit, the creditors will just continue raising your spending ceiling, and you will just continue to charge, falling deeper into debt.  Does that you weak?  Irresponsible? Stupid?  Yes, all three in fact, and I will just preface it with that I was young, I learned from my mistakes, and will never do it again.  Sure it is an excuse, but I did admit to my moment(s) of weakness, and have greatly learned from it.  Children approaching adulthood should definitely be taught so the same does not happen to them.  So now why would I be encouraging using a credit card?  Now that I am “wise”, it actually is quite useful. Those that are unwise will find themselves in need of a reputable credit repair company like Lexington Law if they want to improve their damaged credit scores.

This time, having a credit card not pull from a bank account is a good thing when it comes to fraud.  With the number of scammers out there these days, if your information has ever been compromised, instead of wiping your bank account with a debit card and waiting for the funds to return, you can just dispute the charge on your credit card and never worry about having an empty checking account.

Using a credit card, the correct way, charging and paying off the entire statement balance each month, actually builds your credit history, rewarding you with a great credit score due to having no debt and regular on-time payments.  A solid credit history paves the way for better interest rates down the road for loans and a mortgage.

Cash back rewards is my favorite aspect of credit cards, which is why I charge all of my normal monthly budget, including spending and bills, earning anywhere between 1-4% back on purchases, adding up to hundreds of dollars in the form of a check given back to you once a year, all for just using a credit card instead of a debit card.  Not so bad after all.

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