I’ve heard too many horror stories about people being so much deep in debt that it is near impossible to actually live for tomorrow. With the easy acquisition of credit cards now a days how can you just resist? But is credit all that evil? Is there any good side to it? Researchers have said that having credit is a good thing. Whoooaaaa!
Well, he emphasizes that credit is good, as long as you can pay for it and still keep your bank account “on the black”. By having credit, you build up a good credit payment history. And that is what will be looked at when you begin to acquire big assest, like a house, a car… or even a business.
Too bad that a lot of people fall into the wide road of consumer credit. What with all the consumer ads flooding media these days… 0% interest? No payment until next year? blah blah blah. It is no wonder that a lot fall into the trap, they make it too easy.