Credit cards can offer benefits like cash back, but they also pose risks, including easy overspending and debt accumulation. Users may find it tempting to only pay the minimum balance, leading to high-interest payments and a cycle of debt. If credit cards are damaging one's financial situation, switching to cash or debit may be a prudent choice. While responsible usage exists, awareness of spending habits is crucial for maintaining good financial health and protecting oneâs credit score.
Credit cards can provide perks like cash back, but improper use can lead to overspending and significant financial damage, including long-term impacts on oneâs credit score.
Using cash for purchases makes you aware of your spending, while credit cards can create a disconnect, leading to unintentional overspending until the bill arrives.
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