No doubt, you've received numerous credit card applications over the past year, and you may be tempted to apply for them. STOP, we recommend that you step back for a while and rethink your decision.
Before you take the credit card debt plunge, you need to realize that creditors use such applications as a marketing tool. They hope to inspire you to sign on the dotted line, without any real intentions to actually helping you in resolving your financial problems.
"Do not accustom yourself to consider debt only as an inconvenience;
you will find it a calamity."
- Samuel Johnson |
The only thing these credit card companies are interested in is the huge profits that they intend to make once thousands of customers decide to complete these credit card applications.
You might think that the credit card company is doing you a favor by sending you the credit card applications, but you need to realize that the only real intention behind such favors is to make huge profits from interest that consumers such as you pay on your credit card balances.
Credit card companies know exactly how to attract customers and make millions charging interest and annual fees. Due to their enormous profits, they give little thought about incurring costs on sending out billions of credit card applications every year to prospective customers.
Some will say that credit cards are a financial necessity, but this is certainly not true. When you think about it logically, you will realize that the 'necessity concept' has been created and marketed by the credit card companies themselves and is not something that really exists or can be verified in the real world.
The necessity message was created to make you feel comfortable when completing that application form, in spite of knowing very well that your parents and grandparents would never think of borrowing money on a credit card.
You might also convince yourself that you will not misuse your credit card, but even then it is recommended that you avoid signing on the dotted line.
You need to understand that using credit cards can easily become a habit and quickly grow into a form of addiction, which means that many people get hooked even if their original plan was to only use them occasionally.
Instead of using credit, it is recommended that you do something to increase your earnings in order to fulfill your dreams and aspirations.
There are many things that you can do to increase your monthly earnings. For example, you can ask for a raise, work overtime, start a home business or conduct a yard sale.
When your earnings increase, you will be in a much better position to purchase anything that you need, without using credit cards, thereby freeing you from the vicious debt cycle.
Moreover, you will never have to think twice about placing the credit card applications where they actually belong, in the garbage bin.
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"Rather go to bed supperless than rise in debt."
- Benjamin Franklin |
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Debt is NOT your friend. It's not a wonderful "tool" for building wealth. That's a myth.
