Excuses To Use Credit Card

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Once you’re out of debt, you want to stay out of it. One way we slip into debt is through credit cards bills piling up. Sometimes we spend more than we can afford to and eventually can’t keep up. Here are several ways we convince ourselves to use credit cards. Maybe if you know about how we talk ourselves into using credit, you’ll less likely to do it.

We use the “It’s an emergency” excuse. There are times where a true emergency happens, something like medical expenses. But many times what we call an emergency isn’t really one. A pair of new shoes for a family reunion or a new couch for the living room is not an emergency. So, next time, think about it hard and figure out if your situation is a real emergency.

The “It’s a steal” excuse. Just because something is 70% off that doesn’t mean you should buy it. Know that there will always be great deals and great bargains but they are not an excuse to buy more. Instead ask yourself do I really need this. Remember, when you’re stuck paying interest on whatever you bought, it kind of cancels out the bargain.

The “card reward is worth it” excuse. We benefit from many travel rewards or cash-back rewards when using our credit cards. But if you don’t pay off your credit card each month, those rewards aren’t worth it because they’re just getting you deeper into debt.

The “I deserve it” excuse. So you’ve worked hard all month and now think you “deserve” that fancy dinner, wide-screen TV, mini-vacation or whatever else you want to whip out your credit card for. This is a cycle that’s very easy to get into and will keep you indebted for a very long time.

The “0% APR” excuse. Credit card get you hooked on their brand of credit by offering you a 0 % APR and you’re thinking this is a winning situation for you. But before you know it, the APR increases and now you’re stuck with a spending habit that costs you more and more.

These are all ways all of us have kept the credit card companies in business for all these years. Be aware of those traps and stay on top of things. Remember, the key is to get out of debt and stay out of debt.