Don’t be drawn in by Credit Card Rewards
Credit card debt is all too common in today’s day and age. Everybody who is in credit card debt seems to have an excuse. One excuse that is becoming more and more common is based around credit card rewards. In other words, consumers are using their credit card so much because of the “reward points” that they earn. And while there is nothing wrong with getting something in exchange for using your credit, you need to remember that it is debt nonetheless.
Unfortunately, credit card companies prey on consumers that are in love with stock piling rewards points. If you are the type of consumer that always pays your credit card bill in full, you should definitely get involved with a rewards program. But guess what? If you are not responsible with your money and have trouble controlling your debt, you should stay away from credit cards; no matter how many reward points you can tally over the course of a month.
Just because you have a credit card that offers rewards does not mean that you need to use it for every purchase. Many consumers will use the excuse of “but I get points if I use my credit card.” This is all well and good if you plan on paying off the card in full. But if you are going to carry a balance from month to month, you are canceling the benefits of the rewards by paying extra money in interest.
If you are going to have a credit card you might as well get one that offers rewards. But remember, you still have to be responsible with your money and finances. These rewards will not do you any good if you find yourself facing loads of credit card debt.
