Quote:
Originally Posted by Janine
Credit cards can be great if you do need to buy items at short notice and there are nice protections with them but you really have to keep disciplined when using credit cards. I don't know about anyone else but I'd say that one credit card is enough and you shouldn't look to have more than one because all you do is create for yourself greater opportunities to create even more debt! I'm currently paying off four cards now and its hellish but one is almost paid for and the others I plan to have paid off completely within two years at the present rate. After that I'll keep one but repay at the end of the month to avoid the crippling interest and repayments!
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Credit Cards can be an addiction for some. It once was for me. I had horrible credit. Then I made a game plan and got my FICO score very high. I kept accepting pre-approved cards and automatic credit line increases until I had 8 cards with a total available credit line of over $50,000. It was sick. I ended up getting smart and closing all but 2 cards. But yes, one must be diligent.
10-21-2007, 07:46 PM
Re: Watch out with credit cards
