In truth, a credit card should never be used. (Unless of course you are standing at the burger shop with an 80 shekel bill, only 50 shekels in your wallet and a very impatient man behind the cash register. Then of course, its all right).
Nevertheless, the article is kind of funny to me for two reasons:
- It sounds like its ok to rack up debt on the credit card, as long as you do it right. The problem with credit cards is that its too easy to get out of control. I have learned in life there are two types of people in life: those that have control of their money, and should use a credit card (to gain benefits and rewards), and those who don't have control on their money and should not use a credit card. Let me simplify it for you: If you want to put a student loan on a credit card, you shouldn't be using a credit card.
- Which brings me to the second point: Why on earth would you put a student loan on your credit card?! Do you have any idea that banks, the government even the school can offer loans at better interest?! And gambling. Ok, if you are stupid enough to take out a cash advance on your credit card to gamble it at the casino, you should be slapped. Many, many times. Or, if you are stupid enough to cash your paycheck at the casino (yes they really do this, and there is a commission too!), then you should be not allowed to work anymore. Ever. And finally, the dude who puts his entire wedding on his credit card, is not really building that healthy financial foundation.
Thats all for now.
I disagree, cashing your check at the casino is the only way to ensure that you will enjoy the benefits of gambling without wasting it on petty purchases such as groceries.
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