Today we will explore the realm of personal finance. As I was scrolling through my CNN app on my BlackBerry, I came across an article entitled “Banks Spend Big to Sell Credit Cards to Students.” I was struck by this because credit cards have always made me uneasy. To me, credit cards represented fear, uncertainty and massive amounts of debt.
When I got my first credit card, I wasn’t sure if I was supposed to pay my bill in full. I was told that if I were to do this, it would indicate to the credit card company that you had no use for their card, so they had no incentive to offer you lower interest rates. In the beginning, I wasn’t even sure whether interest charges were standard or paid only if you kept a balance. I questioned whether my interest rate would fluctuate. I wondered if getting a credit card would help me improve my credit score. All these questions and more ran through my head.
Now to take a step back, I was worried about how one little piece of plastic could affect my life. Over thinking it? Maybe. But a few missteps here and there can lead to intense migraines for the future. I thought banks were supposed to have our best interests at heart, but with further consideration, they only have their best interests at heart. It may be a pessimistic outlook in life, but professional services are only concerned with you if you can pad their pockets. Back to the article, I was compelled to read further.
Real Housewives of New Jersey?
Which brings us to a question for self-reflection…..Why did I just buy that?