Are you unable to stay away from credit cards? Do you buy many products on a regular basis? Are you a spendthrift? Credit cards can get addictive as they come with so many benefits and privileges! Let us now learn how to diagnose credit card addiction.
1. You cannot survive without a credit card
Did you lose your credit card sometime last year? Were you feeling lifeless? Were you agitated that you couldn’t buy anything with your credit card? Well, there you go. You are a credit card junkie!
2. You don’t tell anyone about your credit card dues
If you are very secretive about your credit card dues, then you are most likely a credit card addict. Do you think that people may question the high debts that you have incurred? This is a symptom of credit card addiction. Did you just say that you sometimes even avoid checking your own credit card bill? Very bad!
3. You never miss a good deal
When you come across an ad that says you can save money, you immediately go for it. 50% off that 60 inch TV if you pay with a particular credit card! This is a must buy! Nevermind if there’s no space in the house for the extra TV!
Some of the offers will force you to buy something almost every month in order to earn more loyalty points, more cashback rewards, and what not! If you are someone who cannot resist these credit card offers, you are a credit card addict.
4. You are never bothered about a rise in interest rates
When someone talks about the rise in credit card interest rates, do you just say “don’t know, don’t care”? This clearly shows that you are a credit card addict. Most people who use credit cards in an ordinary manner tend to worry when the interest rate increases as it means more interest to be paid if you don’t pay your balance in full.
5. You need to get a credit card whenever it is launched
Did you just read about the latest card that is going to be introduced with exciting sign-up bonuses and rewards? Are you going to apply for it right now even though you already have several credit cards in your wallet?
This means only one thing – you are a credit card junkie! Do you decide to get cards from different banks because you want new rewards or because you are out of cash? Yes, it’s true; you are outrageously fond of this wonderful plastic money!
6. You find some way or the other to clear all your payments
Do you take a personal loan to clear your credit card bill? Or do you go for cash advances with high interest rates to just pay your card bill? We agree that it is always good to pay your bills on time. However, taking another debt at a high interest rate to clear a high existing debt does not make sense.
7. You refuse to admit that you love credit cards
Despite finding yourself nodding in agreement with the six points above, you still don’t accept that you love credit cards? Denial is a clear sign that you’re tangled up with credit cards in a pretty bad way.
Now, you know how to identify if you are mad about credit cards. A credit card is fantastic when it is used with good care. However, using many credit cards with no limits will get you into trouble–big trouble!
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