(833) 839-2274  157 N State Road 7, Plantation, FL 33317

BlogBlogWhy Credit Cards Aren’t a Good Idea

Why Credit Cards Aren’t a Good Idea

Credit CardsIt can be understandable, at times, that you are going to need to use credit. However, if you can, you should try to avoid it at all cost as credit cards are…well, bad.  How bad? If you cannot guarantee that you can stay on top of your payments…and these days, who really can…you should definitely make another choice to get the money you need.  Still not convinced that credit cards are not the best option?  Here is some more information of why credit cards can quickly lead you to financial ruin.

Late Fees

It should be no surprise to anyone that there will be consequences for late payments and when it comes to credit cards, those consequences come from late fees. These fees are in place in order to punish you but what ends up happening to many people is more than just a slap on the wrist. Late fees simply add more and more on top of what you already owe…and that can get you into trouble.

Rates are High

Another reasons credit cards aren’t a good idea is because the rates are so high. For some people, these rates are so high that they will end up spending double or even triple on their purchases due to interest. As you can imagine, this is not a place where you want to be.

They are So Easy to Use

Credit card companies love the fact that their cards are so easy to use, but your bank account probably won’t like this fact. Because of the extreme convenience of credit cards, people use them for small, insignificant purchases like lunch or tolls and these small charges will add up quickly. If you absolutely need to have a credit card, make sure that you are only using it for large purchases.

Other Options

Because there are other options, if you don’t want to use a credit card, you won’t have to. You can certainly, for instance, borrow money from friends and family if you are in a pinch. You can also get money through a car title loan. By working with a company like Embassy Loans in Florida, you can get large sums of money simply by using the value of your vehicle. Use this money instead of using a credit card and you will easily see that you are much better off when all is said and done.



Embassy Loans is a leading provider of auto title loans since 2005

Get In Touch

Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

© 2024 · Embassy Loans · Site built by DMA

Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.