My name is Rose Jones business women and entrepreneur with a back ground in mortgages.
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Credit card and credit card debt are two different things, there are a lot of people who say they don't want a credit card and that's understandable. This is the thing, you need to know how and when to use your cards. Most people who are scared of them or shy away from them are either two things..
1. They had them and abused them or
2. Can't get one
Let's talk about the 1st one, people get cards and max them out on silly things especially if they are 1st time credit card users. I have seen a lot of kids go into debt with these cards fresh out of college its that 1st taste of freedom, they offer them at booths when kids are enrolling. Party time, your friends want to shop or party and why not.
Then we have the after effect, burnt that card up meaning maxed out, usually once you have one you apply for another and before you know it they are all maxed and your done. Now you need to get a secured card and the interest is high. The chances of you paying off that card is little to known, most start at 20% and above. Understand that you can ask any credit card company be it secured or not to lower your interest rate.
Do not and I mean DO NOT.. be afraid to ask them to lower your rate, if they don't do not close the card just apply for a card with either a lower interest rate or a zero interest if you can get it for a year, transfer your balance pay it off within the year, make sure before you do that ask them if you do not pay off the balance within the year what would your interest be on that card. Always and I mean always weigh you options. What do you think as well?