21st century is an era of “CREDIT CARDS”. You won’t have a life of your own but you will have a credit card for sure! You buy and continue buying things and when the “BILL PAYING” time arrives, you fall into debt badly. And then is the time you start hating your credit card. You make financial mistakes with your credit card and the credit card companies earn out a hell lot of that!
And readers here we have this interesting post about the top 10 reasons your credit card is a bad idea
10.
You get a pre-approved 0% fixed rate credit card application and you start thinking that you’ll be receiving a 0% fixed rate credit card, but out of nowhere ”MAGICALLY” they send you credit cards not what they advertise but the one they want you to have!
9.
The credit card companies love it when you spend more money than you have! Because this is the point where they get their money from! They become happy and you are in DEBT!
8.
The research shows that people spend less money when they shop using cash where as the people who use credit cards spend more money! Wake up people!! You are burning your bank money!
7.
Your heart can never stop dreaming! Sometimes you save money when you forget it at home! But suddenly you find out that you have a thing called “credit card” and you automatically make an IMPULSE PURCHASE!
6.
The credit card company has a strategy of satisfying you with their TRUTH-LIES! Because when the bill at the end of the month comes, it is so less that you think that your overspending isn’t a big deal! Basically their strategy is to elongate the loan duration so that interest rate will increase and at a longer stage you’ll be in high DEBT!
5.
You know! There is a hidden rule on your card, which is so smaller that it is difficult to read even! And you don’t prefer reading it. But when you happen to read it, it is in the company’s interest more.
4.
Not only the company makes money by the interest you pay, but also they earn a lot on the fees.
3.
Credit card companies also charge huge interest rates on cards, that are double than the original interest rate. Have you ever thought! How are you going to pay that all?
2.
Credit Card companies just wait for you to make a financial mistake! Because when it gets in to your credit history, they have a full right to raise your interest rate to any level.
1.
All of you are aware about the importance of credit reports and when you have a bad credit, it will affect your insurance amount to be paid and the apartment charges too.
So, guys we have warned you about the bad effects of a credit card and you’ll agree on all the things I have said in this article for sure
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