September 6, 2008

Credit Trouble

I'm not fond of credit cards. Most people who use them, have no idea how much trouble they can cause. I'm one of those people. However, I do believe in having one card for emergencies. And by emergencies I mean a real emergency, not that great little cocktail dress you found on sale on the clothing rack.

If you can't abide by that rule, then you probably shouldn't own any credit cards at all. I for one am closing out the one credit card account I do have open. My reason for this is that I've learned that charges for two different interests rates per a month.

I might consider another card to build up my credit again and use for emergencies, but right now it won't be happening.

If you're one of the smart ones who knows how to use a credit card wisely, a high limit credit card may be ideal for emergency use. The reason is, if you apply for a credit card that only has a credit limit of $200, it might not be enough if you need to pay a hospital bill or buy a plane ticket home when your car breaks down halfway across the united states.

The only downside to applying for a high limit credit card is the fact that it's a lot more money you'll need to pay back and you're bound to get stuck with a higher interest rate if you can't pay it off all at once. Credit can be such a hassle at times!