Cause of Debt : Irresponsible Use of Credit Card

Having a credit card can be addictive and can lead one to debt.  Before getting a credit card, ensure that you know the policies of the credit card company and  be able to use it responsibly. Here are top three  irresponsible ways of using credit card :

Credit card

Impulse Buying
The first pitfalls of overspenders is impulse buying. Everytime you have your credit card in your bag wherever you go, irresponsible credit card user will most likely to fall into temptation of buying things that they do not want. Some people feel that having a credit card is like also having cash on their wallet. Purchasing is just one swipe away. Worst if one goes into over-credit which will have an extra charges.

Late payment of credit card bills
Not keeping track of the payment deadline will incur charges. The money that you will pay for the charges should have been used for other expenses or can be a savings already. But because of careless handling of billing, you lose in the transaction and the credit company will just be richer from your charges.

Negligence of Credit Card
Negligence of credit card is a sign of irresponsibility. Once the card is stolen, report the incident immediately to your credit company to stop , unauthorized purchase of another person. Always Keep your credit card secure, and do not let children play with it.  Be careful on getting extension card for other people or for your teenage child since they may not be responsible as you.

There is power in credit card and so are you over it.  Remember Peter Parker? “With great power comes great responsibility.”