Online Budget - Excuses for keeping badly managed credit cards

I need it as an emergency fund, you can replace them by having some easy-to-access savings. There are so many savings products which were designed to fulfil this.
I need it to pay electronically e.g on the internet, ever heard of something called a cheque card?, It works the same way as a credit card, just that you only buy with it when there are funds in your linked accounts. It has all the advantages of a credit card.
It's a convinient way for shopping. Most shops that accepts credit cards also accepts debit cards.

To comment you need to login, if unregistered, please register for free.

Thomas Madia said:

Hi Pinkie,

In fact closing them may help in the long run.

Credit card debt is the most difficult debt to deal with because it's revolving, you try to pay, and they loan you back money you paid.

By not closing your credit cards, you are robbing yourself of your hard-earned cash in interest payments.

I know it's tough, but it's doable, try it. Once you close them, you will feel like a hero and will never touch them again.
posted on Thursday, 16 April 2009, 14:34:00

Pinkie Sello said:

That's really bad. I am in trouble with credit cards. I don't want to close them because I don't have savings and it is some kind of an emergency fund.
posted on Thursday, 02 April 2009, 13:52:00

Teboho said:

Typical of South Africans, they always confuse emergency fund with credit card.

I don't know why it's so difficult for them to save, and earn interest, instead of paying interest for everything.
posted on Monday, 08 September 2008, 14:52:00

For advise on how to close your credit card, please refer to the last article.