Posts tagged bad debt
Is It Bad To Have Credit Card Debt?

Credit cards can generally come in handy when you're short on cash. The concept is somewhat similar to taking out a short-term loan since you get to "buy now and pay later." Aside from being able to instantly make large purchases — at least depending on your credit limit — credit cards are also quite useful during emergencies.

However, if you're not careful in using your credit card, you might end up being mired under a huge amount of debt. There's a psychological factor to making instant purchases without taking physical money out of your wallet: you can have a tendency to forget that you actually paid for something. Before you know it, you've acquired an unmanageable amount of outstanding credit card balances.

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