Credit Cards - Good or Bad?

From the moment this blog started in March of 2006, I have railed against credit cards. The thing is most people in serious debt, have credit cards that they won't stop using. They are in some ways like crack to a drug user.
However, to the person who is serious about getting out of debt, they can also be a useful tool.
I know, I know, I can hear some of you screaming now. Thinking that I have fallen off my rocker. just hear me out here. When I was in debt, I had some credit debt that had very high interest. By doing some research and credit card reviews, I was able to find a much lower interest. Once, I found one (that would give me a chance to). I was able to roll my higher interest debts over to the lower interest cards.
In my case that card was issued by Washington Mutual, which in the end was bought out by Chase. While I still have that Chase Credit Card, looked away in the safe, it is completely paid off, except for the interest, that was tacked on for having not paid the card off fast enough.
Now that I am debt free, I don't need another credit card. No matter, who it's from. However, if I was still in debt and need to roll my unsecured debts over again, to a lower interest credit card, I might just consider Citi Credit Cards. Thankfully, I no longer have the need to play with such snakes.

However, if you are trying to get out of debt and like me, it seemed as though your payments weren't making a difference. Then consider shopping around and finding a lower interest card and roll those higher interest debts into it.

One word of advice though. Be sure that you cancel all the credit cards/debts that are paid off. You cannot truly be debt free, if you still have those things around, tempting you to use them again for that so called "emergency."


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