Credit Card Craze

Credit cards have been around for a while-and almost everyone is aware of their sneaky gimmicks, the increased debt you'll have and all the fine print that no one ever reads that comes along with them. Children as young as a couple years old know that credit cards have a special value-they erase the limit you have to buy-they make all your dreams come true.

I've always been a complete skeptic of credit cards. I swore I would never get one-just like my Grandmother. Why do you need one anyway? You should only buy what you can actually afford. Right?

Well, I finally got reeled into it...and got my first credit card last week. A $500 limit, I can't do much damage...and I'm pretty sure it only works at one store. But that's fine with me. I got it because of the special deals-20% of your first purchase, money back after you spend a certain amount-it seems like more of a loyalty card than a credit card to me.....but that's just another gimmick.

I'm careful to pay it off at the store immediately after purchasing what I want with it. Surprisingly, the associates encouraged me to do this-they encouraged me to treat it like a point card. Maybe this encouragement decreases the debt owed to the company...maybe it makes people feel more responsible...or maybe it was just the personal opinions of the people I spoke with.

Regardless, I have one. And I pay it off right after.

It's kind of liberating in a way-to have a card with so much power (I know it's only $500 but you could do some quick damage). But there is such a threat to your finances if you don't use it responsibly. I know you've heard the consequences over and over again...but just remember, don't let the charges you make on your credit card sit there-get rid of them! Think of money on your credit card as a wall blocking your path-an obstacle on your ride to work...because sooner or later you're going to hit that wall if you don't keep knocking it down.

By the way, my credit card is from J Crew-my current favorite place to shop! :) Look at the picture for some of the perks..I'm not trying to persuade you, I'm trying to persuade you to be responsible if you do get one! :)
Check out: Jcrew.com for more information