Financial consultant Rick Kahler says there are still many good reasons to stay away from credit cards.
Kahler says, “I’m a great advocate of not using credit cards, especially for anything consumer related. The best use of a credit card is to pay if off every month. And I recommend to people, when you hit that first month when you can’t pay it off, you cut up the card.”
Card companies now have to give 45 days notice before raising interest rates, but they can close your account or lower your credit limit at any time and for any reason without telling you.
Watch Rick’s complete interview with KEVN Black Hills FOX here.