My Money Story: My Terrible Credit Card Debts


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A credit card allows you to borrow money from your bank to make your purchases, whether you’re buying a burger or a round-trip ticket to France. Their is a lot of Pros and Cons to having and owning a credit card. You will see in this video below the experiences of some persons who had bad experiences with credit cards, they also had a wrong understanding of what a credit card is.

Credit card pros and cons

Pros Cons
  • You can make a large purchase now and pay it off in smaller chunks
  • Your credit card statement makes budgeting easier
  • It’s easier than carrying around a wad of cash
  • You can build up your credit score, which will be useful later on
  • You can easily dig yourself into debt if you’re not careful about your spending
  • The ease of using credit cards can cause you to overspend
  • Interest rates can make even a small debt seem larger over time

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