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Credit card pitfalls

Ever since the plastic card replaced cash, banks are continuously calling customers to entice them with offers.  This has caused many people to fall into the debt trap and to overspend.  Banks will easily give you a huge credit limit. And it is a prestige symbol for youth who have just started working to flash their card at restaurants, shopping malls, and everywhere they go.

Loren Baxter gives a humorous account on how to prevent yourself from overspending on your credit cards :

http://lifehacker.com/5780617/how-to-prevent-yourself-from-overspending-on-your-credit-cards

And here is a hilarious video on credit card pitfalls:

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  1. May 6, 2011 at 3:44 pm

    That was so funny.:-) But real for some , I guess. I’m sharing this:-)

  2. May 8, 2011 at 2:28 pm

    That was really funny. but not so funny is the reality of overspending. I follow the rule given by Loren — my credit card has a very low limit for emergencies only 🙂

  3. May 12, 2011 at 8:18 am

    I hear you. credit cards are the ultimate evil. It has destroyed lives and marriages. There should be a law that puts this companies to justice for deception and reaping off the hard earned income of people like you and me with their spiking interest rates. great post.

    • May 12, 2011 at 11:04 am

      Hi the island traveler – thanks for your comment:)

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