Credit card deals for fun? Well, it is a rather ambiguous statement and an inexperienced, first-time credit card holder may get it straight. Do not be trapped, like when it happened to me when I ventured to apply for my first credit card promising me best entertainment possible. It makes me smile to remember how convinced I was that I could max it out, repay when convenient and then just close it.
Remember, no fun with credit card, no fun. I received a rough and humiliating denial because I didn't know this plain truth. What do I mean then by credit card deal for fun? I'll explain.
Credit cards with entertainment programs are by no means designed to give you fun for free. Such type credit cards are no way issued as low interest or no annual fees credit card offers and it will sure cost you a bomb once you resolve to become its owner.
That's what I did and the outcome of it all prompted me to draw up sort of a message for all would be applicants of entertainment credit card. The first and most important thing to digest is that entertainment credit card is accessible to selected credit consumers only, those who can boast of irreproachable credit history and substantial income.
If you are a careless cardholder, who doesn't take his direct obligation of paying off a monthly balance on time in earnest, then this high cost credit card is no doubt your biggest evil. The effect of its misuse can range from a regular credit card debt to irreparable bankruptcy and this can hamper or even kill your eligibility for other credit card deals.
I must admit that after 2 years of using my Visa from Chase bank, I still cannot boast of a high credit score and stainless credit repayment history and the fact gave a signal to the creditor that I do not qualify. Now I find myself asking - is it a loss?
Definitely, it is but it's nothing as compared to what financial disaster I would be facing had I been approved for the Citi®mtvUTM Platinum Select® Visa® credit card that I claimed for.
It's no doubt that if I had become its owner, I would be financially ready for any scale event, any posh party or expensive tickets to popular shows. The problem of carrying piles of cash with me would be also eliminated and I would feel myself an all-mighty money lord.
But, this is only the face of the credit card deal for entertainment purposes. Imagine you are somewhere away didn't find a chance to get your credit card statement and pay the bill. It may happen to anyone, we are just human beings.
But your delay isn't an excuse enough for the creditor and they charge you high-sky late payment fees. Once you are unable to manage them, you road to credit card debt prison and hell begins.
I have avoided it, the creditors themselves saved me from a financial crash, because they know it is a bad money to make this credit card deal with insolvent and irresponsible credit consumers.
I do not belong to highest income earners, any executives or celebrities and I do not think entertainment credit card would be the right choice for me.
What do you say? Your only wish to possess entertainment credit card is not enough. Remember what I said before: "No fun with credit card, no fun". They are pure business, business that has to be wisely and substantially funded.
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