Panchodiaz Finance Blog

Sometimes you have to wonder how we ever existed without the credit card. It’s no joke trying to order tickets for the theatre without your American Express card, if like me you have cancelled it. I found I couldn’t join my local gym, order clothes over the internet or even reserve a plane ticket to New York, online, the basic stuff of life. It seemed like only a few years ago that cash was the preferred way to get stuff, but those days are long gone now.

Using an American Express, Visa or Mastercard has become commonplace globally but we do it without thinking, do I need this and do I have the money. You cannot escape though, as the price is high when using your American Express credit card and buy it now, pay tomorrow philosophy. Unfortunately, credit card debts are mounting in many places around the world. Today, credit card debt is one of the biggest worries facing us in America.

Canceling my American Express credit card was something I had to do as I much as I hated doing it. The problem was it was too easy just hand over my card and buy things without seeing the money being spent. Mounting debts lead me to realize that I had been using my card for everything and anything including food! I was in a right state when I finally admitted that I couldn’t pay the debt.

Eventually, I used the services of a debt refinancing agency which enabled me to start paying some of the debt back. To say the situation had become a nightmare would be a gross understatement. It took some time but the American Express credit card has gone and so has my debt. Don’t think I am making excuses when I blame my credit card because you are not taking into account basic human psychology.

You have more control when you see the cash actually coming out of your pocket. Credit cards make it too easy, especially because you rarely look at the cost. I would just keep spending, not realizing until all the money was gone. So remember, if you don’t have an American Express card, you don’t have any worries.