What is ur Credit Card to you? A Friend or Foe
Credit cards can be a faithfull friend as well as a deadly foe. It depends on how you wield it. Credit cards give you access to pre-approved loans/advances, depending on your credit limits. Basically, it is buy, now pay later. You can pay off your balance at a go (and incure no interest charge), or pay off installmentally, to the delight of your bank manager. Abuse of credit cards have brought many to grief abroad. Default in payment of your monthly bills have spawned a whole industry, that of debt recovery. Their job is to help the banks recover their money, for a fee. They will call you first thing in the morning, all through the day, and last thing at night. They will so harras you that you begin to dread the mere ring of a phone. Credit card can come in very handy in solving temporary cash flow problems. But when it becomes a habit, then you have problems at hand. Some folks folks descend to the level of using credit card to buy groceries in the super market and fuel their