Having a credit card in your wallet can give you a sense of security. It can also be your first step onto the slippery path of financial responsibility. While having a credit card has its purposes in life, here are three reasons that you should never have a car in the first place.
- Having one just to have it. A credit card is not a status symbol, it is a double-edged sword that can destroy your credit score if not used carefully.
- Having a credit card is the easiest way to build your credit score. If you do not plan to buy a home or will always pay cash for your cars(yes, some people are able to do that), then you may never need a credit card.
- The biggest reason to avoid plastic in your wallet is if you are an impulse shopper. A credit card in hand is like ambrosia to an impulse shopper. It will not be long before your credit limit is maxed out and you are struggling to make minimum payments and researching debt consolidation companies in Franklin TN.
Getting a credit card is simple, but you need to be careful. One mistake can lead to a slide toward a credit score of 500.