I have to say, I don’t like credit cards. I really don’t. Now you might ask, “Why, Eric? Doesn’t it feel good to borrow money now? Don’t you like not having to pay things until later on?” As nice as that sounds, there’s a caveat to that. In other words, nothing can be free forever. Will your credit score go up if you pay in full? By making full payments to your credit card, your score will remain high as long as you don’t have a balance lingering over your head. Having a zero balance (or a small one) ensures you keep your credit score high. There comes a time when you’re going to have to pay off your balance in full. If you don’t, your payments will be higher going forward. Eventually, the chickens will come home to roost sooner rather than later. And the bills need to be paid. It’s either now or never for me. That’s what I want to discuss in this post. Yours Truly- Not The Biggest Fan Of Credit Cards As I mentioned, I’m not the biggest fan of credit cards. I have two of them, but no more. I remembered getting my first exposure to them back in my high school years. The moment that my mom gave me a credit card (under her and my father) was like giving me another dose of freedom. But unlike most young people, I didn’t just go out and recklessly max it out in one day. Oh no — I knew better than that. My mom gave me some key points in mind that you can’t borrow all the time and get away with it. So she gave me that lesson right there, and it’s stuck inside my head for the last 16–17 years now. Again, another great thing I learned from my mother about personal finance. She kept household spending under control, and I give her credit for where I’m at right now. After I got my first card, I used it for essential things, such as grocery shopping and filling up gas in my car. My first car was a Dodge Intrepid, which was a gift from my grandfather. That was the car he drove prior to me turning 16 years old. So I would fill out on the credit card when needed. But other than that, I didn’t use it for anything else. If I did, my mother would notice and probably cut that card out on me. I did pretty well with the credit card when I was in high school. It’s continued to be that way, now that I have one in my own name. I still use one that’s under my parents’ name, as they’re generous from time to time. For example, they may ask me to use the card under their name to fill up on gas. Sometimes, when I travel to see them or other places, they’ll say, “Fill up the tank on us. We got you covered.” So there are times when I use the other card, but for the most part, I primarily use the card under my name. So I’m good at utilizing the credit cards. I don’t like using it for discretionary spending (i.e. personal consumption), but I do see there are good uses for a credit card. That’s the whole idea of having at least one credit card — to build up credit over time. With good credit, it gives you the ability to have more borrowing power. Or in some cases, it gives you the ability to make bigger purchases in the long run. So there are some benefits to having a credit card, so that way your credit can build up. I know it’s made a difference when I applied for apartments in the past. It certainly helped when I applied at the place I’m at right now. Credit score was a big factor in helping me get approved for the apartment I’m at right now. That’s always something to keep in mind. Although I’m not a fan of using it for personal consumption, it helps to put yourself in a better financial position for those things you need in life. So I’m glad to have at least one credit card on hand. I have two, but no more than that. I discuss a lot about credit cards in my latest post on my website. I go over some ways I make the most of credit card utilization. These key points do help, especially when it comes to knowing the right time to use a credit card. I know it’s something I still struggle with at times, but it helps to have a better understanding of it. I go over those points in my latest article. Until tomorrow, -Eric Credit Cards? Meh- Not My Thing was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this storyI have to say, I don’t like credit cards. I really don’t. Now you might ask, “Why, Eric? Doesn’t it feel good to borrow money now? Don’t you like not having to pay things until later on?” As nice as that sounds, there’s a caveat to that. In other words, nothing can be free forever. Will your credit score go up if you pay in full? By making full payments to your credit card, your score will remain high as long as you don’t have a balance lingering over your head. Having a zero balance (or a small one) ensures you keep your credit score high. There comes a time when you’re going to have to pay off your balance in full. If you don’t, your payments will be higher going forward. Eventually, the chickens will come home to roost sooner rather than later. And the bills need to be paid. It’s either now or never for me. That’s what I want to discuss in this post. Yours Truly- Not The Biggest Fan Of Credit Cards As I mentioned, I’m not the biggest fan of credit cards. I have two of them, but no more. I remembered getting my first exposure to them back in my high school years. The moment that my mom gave me a credit card (under her and my father) was like giving me another dose of freedom. But unlike most young people, I didn’t just go out and recklessly max it out in one day. Oh no — I knew better than that. My mom gave me some key points in mind that you can’t borrow all the time and get away with it. So she gave me that lesson right there, and it’s stuck inside my head for the last 16–17 years now. Again, another great thing I learned from my mother about personal finance. She kept household spending under control, and I give her credit for where I’m at right now. After I got my first card, I used it for essential things, such as grocery shopping and filling up gas in my car. My first car was a Dodge Intrepid, which was a gift from my grandfather. That was the car he drove prior to me turning 16 years old. So I would fill out on the credit card when needed. But other than that, I didn’t use it for anything else. If I did, my mother would notice and probably cut that card out on me. I did pretty well with the credit card when I was in high school. It’s continued to be that way, now that I have one in my own name. I still use one that’s under my parents’ name, as they’re generous from time to time. For example, they may ask me to use the card under their name to fill up on gas. Sometimes, when I travel to see them or other places, they’ll say, “Fill up the tank on us. We got you covered.” So there are times when I use the other card, but for the most part, I primarily use the card under my name. So I’m good at utilizing the credit cards. I don’t like using it for discretionary spending (i.e. personal consumption), but I do see there are good uses for a credit card. That’s the whole idea of having at least one credit card — to build up credit over time. With good credit, it gives you the ability to have more borrowing power. Or in some cases, it gives you the ability to make bigger purchases in the long run. So there are some benefits to having a credit card, so that way your credit can build up. I know it’s made a difference when I applied for apartments in the past. It certainly helped when I applied at the place I’m at right now. Credit score was a big factor in helping me get approved for the apartment I’m at right now. That’s always something to keep in mind. Although I’m not a fan of using it for personal consumption, it helps to put yourself in a better financial position for those things you need in life. So I’m glad to have at least one credit card on hand. I have two, but no more than that. I discuss a lot about credit cards in my latest post on my website. I go over some ways I make the most of credit card utilization. These key points do help, especially when it comes to knowing the right time to use a credit card. I know it’s something I still struggle with at times, but it helps to have a better understanding of it. I go over those points in my latest article. Until tomorrow, -Eric Credit Cards? Meh- Not My Thing was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story