posted by admin on May 27
Sometimes you have to wonder how we ever existed without the credit card. Unfortunately, if you cancel your American Express credit card like I did, it means you cannot have access to certain services you may have taken for granted. Without that credit card, I was unable to join the local gym, to order t-shirts off of the Internet, to reserve a plane ticket online - and that is just a few of the basics. Not that many years ago, people preferred cash to credit, but not now.
We never stop to ask ourselves when using our American Express credit card globally whether or not we need or can afford what we are buying it has become so commonplace. You cannot escape though, as the price is high when using your American Express credit card and buy it now, pay tomorrow philosophy. Money owed to credit card companies is increasing everywhere. I am not joking when I say that credit card borrowing is probably the biggest problem facing Americans today.
It is for this reason I cancelled my American Express credit card. Once I had the power to buy things without parting with my money immediately, I was almost unstoppable. Charging everything to my card was stupid because before too long the debts just spiraled out of control. Panic kicked in when I found I could no longer pay the debt.
It took a debt consultancy specialist to finally get me back into a position where I actually started to pay my debt off. The whole situation was a nightmare. It took some time but the American Express credit card has gone and so has my debt. A lot of people would think that it is rash to blame it on my credit card, but I think that they do not understand something about human psychology.
Paying with cash makes you aware of how much things cost. It’s easy using a credit card and at the time quite painless. Just handing the card over time and time again, it is almost addictive. Now, there is no longer a problem because there’s no longer an American Express credit card.
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