Is Your Credit Card a Friend of Foe Infographic

CreditCardApplications.com'partnered with National Positions to create an excellent infographic to balance the positive and negative when it comes to using credit. The choice is really yours. Do you make credit your friend or your foe?

**Your Card as Your Friend.?**Only use the card for things that make sense.

• Emergencies
• Reservations
• Cash flow and timing
• Free Services

The advantages of using the card wisely are:

• Good credit
• Purchase power and ease of purchase
• Protection of purchases
• Building a credit line

Other benefits that help to save money and increase buying power include:

• Price protection
• Cash advances
• Extended return policies
• Store discounts and
• Charge backs

**Your card as your foe.?**Using the card for unhealthy habits include

• Retail therapy
• Excessive holiday shopping
• Financing debt

The disadvantages of credit being your foe:

• Poor credit score
• Blowing your budget
• Increasing debt
• Greater risk of credit theft

The risks you are taking:

• Impulse purchases
• Fees & interest
• Hurting your credit score

The warning for all consumers that credit should be respected. It can be a tool to benefit consumers financially or it can be a tool that harms consumers financially. The two-edged sword analogy is an excellent way to describe the contradicting effects of how the opposing uses of credit can have on a consumer's life. Rich Uncle Pennybags and The Thief underline the story of how using credit can be a friend or a foe. Use the two-edged sword very carefully.

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