It 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.