According to Bankrate.com, most Americans carry between five and ten credit cards. How about you? How many do you have?
Well, we all know the pros and cons of using these small plastic cards on our wallets. Convenience is the main reason, especially for online purchases. Though I’ve known some friends who are struggling to pay off their outstanding debts, I do know of some people who are regularly paying their credit card bills monthly and I admire them for that. It takes a lot of discipline to manage one’s finances prudently.
Credit cards will always be part of the average consumer’s spending and more people are still signing up for new accounts. Doing research for the right card is important and there are online sites that give consumers a comparison list on a wide range of cards to suit their lifestyle, whether one is a student on a tight budget or a high-profile executive and whether they want 0% interest on purchases and balance transfers, cash back, have bad credit, student cards, and more.
Remember, the important thing is to make your credit cards your slave and not the other way around.
Ugh! Credit cards… a boon and a bane at the same time. 🙂
sngl: how many cards do you have? 😉
Used to have 5 credit cards and before I know it I quit my job and poor creditors had to settle for whatever i can afford or nothing ( can declare bankcruptcy) but still have to pay the carrying charges. Now that I’m back working, back to where it started, it is convenient alright, but for the likes of me who love spending money not earned yet, well, I resolve to work past retirement. (no more compulsory retirement, work because you have to)..
Vic: hehehe… you’re one of ’em ha. well, at least you’ve been there, and now you’re wiser about spending…hopefully? hehehe…
I used to have two. Now I just maintain one… 🙂
I carry 3 credit cards and 2 ATM cum debit cards. The wise thing to do about credit cards is to be responsible. I have friends who are not and has suffered the consequences of paying interest after interest. If used wisely, credit card is a great help. Especially on buys that let you pay by credit card installment with no interest. of course you have to deligently pay what are due monthly to avoid additional payments.
I also go for credit cards that offer multiple years of free annual service fees.