Another credit card hey?
We all love the freedom a credit card can offer us, the ability to obtain a luxury item when your funds can’t quite meet the expense is fantastic. The problems begin when we don’t know when to stop, lets say you have a credit limit of £3,000 on your card, does this mean you can afford £3,000? Well the simple answer is no, no one can afford more then they earn, I deal with debtors struggling with Credit Card repayments every day. There is always one reoccurring theme, they assumed that because they got the credit cards surely they can afford them, WRONG. Remember a bank is a business not a charity, it isn’t lending you money to do you a favour, its facilitating an ability to make money by satisfying your needs.
This does not make the bank a big bad place, we’re all old and wise enough to know that we have to look after ourselves, and I’m not saying credit cards are a bad thing either, used properly they can actually help you when you struggling. The key to not getting into a pile of debt is being frugal with your money, treat it well and it will look after you, abuse it and you’ll get yourself into a whole heat of bother.
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