Just because you CAN buy with a credit card does not mean you SHOULD - Latest Hindi News , International , Bussiness , Sports ,Tech Info

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Tuesday, April 20, 2021

Just because you CAN buy with a credit card does not mean you SHOULD

/u/notoriousbsrCryptocurrency News & Discussion https://ift.tt/eA8V8J

I don't know who needs to hear this but...just because you CAN buy crypto with a credit card does not mean you SHOULD. Many of these apps make it so easy to buy, Buy, BUY, BUY!!! on credit. Please be financially responsible with credit, being in debt is no joke.

Sure, your logic might say "it's going to moon" or "if it goes up 40%"... but the average credit card interest rate is 20.29%

https://www.thebalance.com/average-credit-card-interest-rate-4772408#:~:text=Key%20Takeaways,lowest%20average%20interest%20rate%20overall

If it goes down by 12.23%, if you don't take profit in time, if any one of a countless array of things happen - can you pay off the card without interest accruing? Next month?

There's always the logic that the market out-paces it - but these apps make it SO EASY to buy again and again and again, on credit - telling yourself you will pay it off.

Like Dennis Miller says/said/used to say "but that's just my opinion, I could be wrong."

Edit: adding the caveat, if you CAN AND DO pay it off, and have amazing rewards...have it it!

submitted by /u/notoriousbsr
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from Cryptocurrency News & Discussion https://ift.tt/3ebL0ey
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