In 2007, having a credit card is no longer a luxury or a convenience, it is a necessity. In some countries may not rent a car, rent a room in a motel, or order online without a credit card. If you want a cell phone, you should probably buy minutes pre payments and can not do it unless you have some plastic with your name. And without a credit card, you must carry around a lot of cash, make frequent trips to the bank, or buy with the hope that they will accept your personal checks. Here, movie actress expresses very clear opinions on the subject. Moreover, credit cards can save lives in emergencies. Worst of all, people who lack access to credit are more likely to use the services of a loan. Consider this: If a single mother should be spending a sudden, unexpected, such as repairing your car with a value of $ 600 What can you do if you do not have the money? You need the car to go to work, and can not afford to borrow money from family or friends.
So she decides to use the loan to the local store and just pay a 530 percent APR (annual percentage rate) of interest. If, however, had a credit card with a minimum of $ 600 available, it would have had to use the loan of these cheats and much lower pay interest. Many people who use the services of these lenders, even for once, enter an inescapable spiral of debt, which work throughout the week to repay loans, and then have to make new loans to meet their weekly expenses . People who use their credit cards responsibly are never victims of this situation. An additional advantage of using credit cards is that, if used responsibly, they help to organize the budget itself because they help you track your expenses. A simple technique is to use a credit card to automatically pay recurring monthly expenses (telephone, television, utilities, etc..), one for groceries and fuel, and a third for all other expenses (entertainment, restaurants, etc.).. When you get your bills each month, you can compare what was spent on preferences in relation to the real needs and make adjustments as necessary.