Using a credit card: Avoid “overstretching your hand”

“Where is the child” – this is true for many card users in the US. When young, hoping to have a good job makes many people borrow money and spend money. But when the income is not as expected, they sit on a pile of debt and obsession credit follow them for life.

Mrs. Damaris Jimenez – American consumers “When I was younger, I kept buying and buying, and then I realized I was overspending. So I had to file for bankruptcy. I don’t use a credit card if it’s not urgent,” she said.

According to statistics, up to 33% of credit card users in the US make the mistake of borrowing money beyond their ability to pay and forgetting to repay on time. When they are overdue, they will have to bear interest and the debt will grow larger, making it more difficult to pay. Obsessed with loved ones who have been like this, some consumers turn away from the card altogether.

“I always try to stay away from credit cards. I remember my dad always taught me not to spend anything outside of my ability to pay. Especially in uncertain economic times,” said Mr. Gary Lucas – consumer used the US said.

In order not to get stuck in debt, experts advise reading the terms carefully when applying for a card. Illustration.

But according to experts, credit cards are also a way for consumers to better manage their spending, smarter. It tells users where to stop and be accountable in every spend. If that can be managed, the card will be a good spending tool.

Mr. Adam Levin – co-founder of Credit.com said: “For a young person, building a consumer credit score is important, but it does not mean that the credit is beyond real capacity. Therefore, it is necessary to spend smart cards. Be respectful, responsible and don’t overdo it.”

Modern life forces Americans to have a credit card in order to build their own consumer credit, that is, a responsible consumer. With that credit score, they can easily buy a house, buy a car and many other transactions.

In order not to get stuck in debt, experts recommend reading the terms carefully when registering a card, making the most of the transactions that earn points, and using smart apps that remind you to spend. If possible, should attend classes on personal financial management.

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