Articles by Joshua Ibanez
Credit cards can be great. Their convenience and ease of use, combined with the ability to extend your budget, makes them almost a necessity in today’s world. However, credit cards are not all good; in fact, they actually lead many people into crippling debt, bankruptcy, and financial ruin. While many of my previous posts have discussed why credit is important, this post will exclusively provide caution to people just beginning their use of credit cards.
For those who aren’t students and are attempting to build credit, there is a hurdle to overcome, because lenders abide by the unwritten law, “you must have credit to get credit.” Fortunately, there are a number of ways to overcome this.
Credit lets people make purchases and get what they want today, even if they don’t necessarily have the money today, as long as they promise to pay the creditor back at some point in the future. This is an extremely useful purchasing tool, as you may not always have the cash to buy the things you need or want.