“A relationship is like a credit card, if you don’t handle it responsibly, you lose its value and pay heavy in the future for the past” -Joseph Cubby
Life would be easier if you can just have a credit card by your side… well think again. A credit card is more than just giving you extra cash in a card. A credit card is a “credit” by the end of the day, and Joseph Cubby was right when he compared a relationship to a credit card, because a common point for both is RESPONSIBILITY.
Now, you’re guessing you are old enough to handle a credit card. You think you are financially responsible to manage your budget and you feel it’s high time you get a credit card because after all you’re adulting. But here’s a credit card advice, responsibility sounds easier said than done. If you’re ready to mingle yourself with credit cards, here’s an easier understanding of how it’s like to start and end a credit card affair for the first time. All we want to give you is a credit card material that you deserve.
Courting stage: The credit card needs you more than you need them.
Keep that in mind, the credit card needs you more than you need them. That’s why there are so many offers out there. They want to engage in a financial relationship with you. All the credit cards promise amazing perks, give everything you love, are there when you need a shopping therapy, they’re like the long lost best friend, the forbidden lover or the sibling you never had! The credit card is the love of your finances.
There are a variety of credit cards that are out there to satisfy your financial needs. Among them are three major types; regular, premium and rebate.
The Mutual Understanding stage: I want one.
We all know that a credit card wants you, and now you want a credit card. But wait… yes, there’s a but. Although your feelings are now mutual, you need to prove your worth for a credit card. You want to try the regular type yet you feel you deserve the premium type when the rebate type is everyone’s dream card out there. You have to do your research, which one best suits you. Of course, like most relationship, you have to be impressive!
Ask the right people to guide you. Then you can prove a good credit history by preparing important documents to show you’re worth the credit risk and TRUST!
The proposal stage: Ready to submit all documents and get approved.
You’re all set! You have all the right documents and the credit card is just an approval away! In case you get rejected, don’t feel bad. Not all first-timers get an easy YES. Like we said, the credit card needs you more than you need them. The right credit card is just out there for you. If the credit card gods permit, then it’s time to get to the best stage of the credit card affair.
In a Relationship status stage: Enjoying the benefits the credit card gives.
Finally, you are enjoying the benefits of a credit card. You feel the convenience of having one around with you. You can save time and trouble, no looking for an ATM and keeping cash on-hand. But beware to get lost in translation! A credit card may give you the purchasing power, but that also entails being responsible.
Don’t forget your obligations; a credit card is still a loan, you have to pay your balances, keep your credit low, maintain a high credit score, and never be late on payments. If you do that you reap more rewards from a credit card, otherwise you’ll face it’s consequences.
It’s a complicated status: When all goes wrong; pitfalls and mistakes.
You will come to a point when you can’t keep up with your responsibilities and yes, with an upsetting commitment, you will feel the demand of its interest. Now, when you have fallen unto a pitfall of your relationship with a credit card, you start to blame the credit card for its misguidance, for breaking its promise and for its uneasy terms and conditions. However, the truth is, you only have to blame yourself for it. It was your choice. It was your responsibility. You overuse your credit card, went overboard your credit limit, and you don’t know how to keep a low credit. This time, you have come to a big decision to end it all for now.
Break-up stage: Deciding to cancel the credit card.
You want a clean break-up with the credit card. Others would advice to just stop using it and let the company do it for you… don’t follow that advice. If you have been irresponsible, you have to do it yourself as well. The first thing you need to do is to pay off the balance before you close the account. It is best to contact the credit card company to guide you well to file a cancellation.
Closure stage: You still want a good credit history.
You don’t want any bad rap from your first credit card affair. You wanna make sure that cancelling your first credit card doesn’t affect your credit score of your credit history, because if it does, you’ll find it hard to get loan approvals in the future. To make sure closing one card doesn’t impact your credit score, pay off balances, send a written confirmation and watch your credit report. If you have zero balances and your credit utilization rate is zero that’s great news! Your credit history won’t be tarnished.
Moving on: Credit card is a choice and a responsibility.
Finally you learned your financial lessons from having your first credit card. It’s time to move on and be wiser enough to handle you finances. You now know the perks of keeping a good credit history, and this time you know how to handle your next credit card affair.
If you want to keep a strong bond with your credit card and you need to pay off balances on time or if you don’t want to stress yourself with the credit card responsibility, you can always get EXTRA help or turn to PawnHero. It could be your rebound stage, but sometimes rebound stages could also lead into the real deal. So, just visit the website to learn more. Oh, to make the situation sound better, the PawnHero is also a downloadable app. You can use it ANYTIME, ANYWHERE.
Jhon Kenneth Delos Reyes
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