The Truth About Credit Card Debt

A large number of people believe that having a credit card and even carrying a small balance on that card is a good thing. They argue that it helps to build a good credit score, plus you can get a lot of perks with the right card such as cash back, airline miles, or new car rebates. The Celebrating Financial Freedom course will teach you:

• Why young people should not use credit to begin building a credit history.
• Why carrying debt may be good for your credit score but not for your wallet.
• How you can become debt free and stop sending credit card companies your hard earned money in interest and fees.

Let me say this in no uncertain terms, credit card debt is NOT A RESPONSIBLE WAY TO USE YOUR MONEY PERIOD!!! Is that clear enough? I don't care how many miles you rack up or points you get, who do you think is paying for that stuff? The reason you get these perks is because the credit card companies are making enough off of you to make it worth their while, so don't be fooled.

As for building a good credit score, yes you can get a good score by using your credit cards in the right way. When you do this your score rises and the credit card company becomes more willing to extend you even more credit. This never ending cycle plays right into their hands because they know that every time you use credit to make purchases, you spend more than you would have if you had paid cash, and the bonus for them is the interest and fees they make as you use that card.

Believe it or not you don't need a credit score to survive in today's world. You can do everything with cash you can do with credit and save a ton of money in the process. Celebrating Financial Freedom (CFF) will teach you how you can do this and why it is to your advantage to do so if you want to succeed financially.