My friend uses a secured credit card nowadays. It’s quite a story and I want to share it with you…
My friend had problems with her finances a few years ago. She particularly had difficulty paying her credit card bills so she had most cancelled and maintained two. But then those two also brought her mounting finance charges. In short, her credit cards impaired her credit standing. For years, she resorted to paying in cash. But then you know how it is these days. Unscrupulous people know when to attack you. She was doing her Christmas shopping when she was robbed of her money. All the cash that she’s carrying that day was gone in a blink of an eye. And she realized that during big occasions, it is better to shop using either your credit or debit card.
So she got the secured credit card as advised by her bank. And she’s since felt more secure when shopping. She actually told me to purchase on credit especially when I know that there will be a big crowd shopping on that day as well. I am thinking of getting my own secured credit card. But I will have to talk to my banker first.
