Are Credit Cards Good or Bad for You?

Posted on June 8, 2017

If you consider yourself to be undisciplined or lacking in self-control, then credit cards are very bad for you, because having access tothe available credit can cause you to go out and spend it all, leaving you unable to pay your debts. However, if you’re disciplined and haveself-control, having a lot of available credit cards with a lot of available credit is extremely important and positive. If you ever have an unexpectedevent happening in your life, credit cards may be your only way to get out of that mess.

Maybe something happens to you that your insurance doesn’t cover, maybe you don’t have enough savings accumulated yet, or maybeyour savings aren’t enough. That’s when your credit cards can save you! Imagine going on a vacation and getting stranded in another country.If you don’t have a way to get back for a while and you need to pay your bills, you can use your credit cards. If you lose your job and you’reunemployed for many months, your credit cards will save you.

You’re getting divorced and you cannot touch your bank accounts because they’re joint accounts and in dispute. Your credit cardscan be used. You lose a lawsuit and your assets are frozen or your assets are liened or levied. Your credit cards are not levied and there is nolien on your credit cards. They are a form of debt. Nobody can put a lien on your debt.

Maybe you need some emergency surgery that your insurance doesn’t cover or an emergency medication or treatment that your insurancedoesn’t cover for whatever reason. Credit cards! Maybe a family member or somebody important to you has an urgent situation that youwant to be able to help with but you don’t have the money and they don’t have the necessary insurance. Credit cards!


Having credit cards means you have options. In life, you need to have options: the more options you have, the better off you are; theless options you have, the harder your life is going to be. Having one hundred thousand dollars in available credit on your credit cards iscertainly a great option to have!

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