Do you feel stressful and anxious when you realized you haven't pay your credit cards bill or never settle your home loan yet? I do and this is the reason why I refuse to use credit card even the bank offers various type of reward programs. In fact, it is very tempting but when I think about the debt or credits that will snowball if not handle properly in using the credit card, I pull myself back.
We heard very often about once you have a bad credit, it will be very difficult to apply for other new credit cards or even getting a loan. Sounds terrible, right? But if you apply for bad credit loans, this is not a big deal anymore. We do miss out in our financial planning from time to time but actually we still can look for advise from finanacial planner and carry on with rebudgeting or planning to settle off those bad credit. The key to avoid bad debt is no other than never drag the payment and try our best to pay on time.