Get Rid of Those Credit Cards
Labels: Credit Cards, Debt, Manage Money 2 commentsIt will do this for you if you do.
It will improve your credit rating
Every credit card you apply for, every payment you make and every late payment you make, is recorded by the three major credit reporting agencies. That information is then compiled into a credit score. This number indicates how financially responsible you are when it comes to paying your debts.
It will help you to stick to a budget and save money
Research shows that Americans who use credit cards spend 15 percent to 25 percent more than they do when they pay in cash.
You'll be happier
Nearly half of the people who have problems with debt experience symptoms of depression, according to a survey conducted by Myvesta Foundation, a nonprofit consumer education Web site. And, credit card debt is the No. 1 culprit.
It will help you to protect your investment in your home
When people get into big credit card debt, they often take out a home equity loan to consolidate payments at a lower interest rate.
For more information on this subject go to :Stop Using Your Credit Card
21/8/07
I do not think that credit cards cause depresson if you use them wisely. It is hard to live without credit cards nowadays, they can help you if you use them wisely or can ruine you as any other thing if you do not know how to deal with it.
21/8/07
Hi Creditowner,
I agree that Credit Cards don't cause depression, it is the ensuing debt that may lead one to feel depressed. Some people may not use them "wisely" as you say. Thanks for the visit and for taking the time to comment.