Why I still don’t use a credit card

[dropcap1]C[/dropcap1] redit cards were basically created for one purpose- give its owner a temporary “purchasing” power. [quote_box author=”” profession=””]Credit card companies, by virtue of their credibility and financial status, loans you this temporary purchasing power tru this plastic. In the process you are charged a certain amount for “availing” this temporary purchasing power.[/quote_box] The larger the credits or purchasing power you borrow, the bigger is the charge. This is how credit card companies earn from this process.The more you use that credit card, the greater is their income . Thus, it is understandable they will make all sort of enticements just so you will use that card. It’s their marketing ploy and it is their business.

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  • A credit card is a good leverage tool in select instances when  your cash or emergency fund isn’t readily available.
  • It is safer to use this plastic than carry a whole bundle of cash around for paying sizeable financial transactions.
  • The use of credit cards to purchase necessary products or financial obligations and use that intended cash to finance a more pressing financial concern seem logical from a financial standpoint


Again, credit cards have very limited use in general and the risk of credit trap far outweighs the benefits of this plastic in my case.

Reasons why I don’t recommend credit card use in general:

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    • [highlight class=”highlight_yellow” style=””]I have bad spending habits, credit card is bad for me.[/highlight] The problem not the plastic, but the one’s holding it.  Problems will arises if you are not careful enough in using these credit cards. There’s no question it will plunge you into the abyss of debts if you go on credit card spree . This is not peculiar to any credit card brand or type actually. Any credit card can and will plunge you into mounds of debts if you are not careful with it.
    • [highlight class=”highlight_yellow” style=””]If I can pay in cash, I pay in cash .[/highlight]  This is my simple rule for loans and credits which I similarly apply to credit card use.
    • [highlight class=”highlight_yellow” style=””]If I can’t afford an item, I probably don’t need that item.[/highlight] This may be a bit harsh and simplistic but I have more success sticking to it.


So what did I miss in my credit card less life so far? Nothing I believe. In fact, I’m still proud that at my age now, I’m debt averse and that includes the use of a credit card. Many people will tell me I’m wasting a potential leverage tool. Maybe, but I’m certainly happy with my cash only buying. So, no to any credit card use for now 🙂

What about you? Do you own a credit card? Are you happy with it?