Business Blog

It’s hard imagining life in today’s world without a credit card. Why, since I cancelled my American Express credit card, I have been unable to partake of a wide variety of goods and services, and that is no joke. Without that credit card, I was unable to join the local gym, to order t-shirts off of the Internet, to reserve a plane ticket online - and that is just a few of the basics. The old days of cash as the preferred method of doing obtaining goods have gone.

It is a global phenomenon buying products or services with your American Express credit card without even caring whether or not we can afford them or even need them. Although American Express credit cards are a really convenient way to make a purchase - get it now and worry about it tomorrow - it does come at a heavy cost. Money owed to credit card companies is increasing everywhere. It is not a lie when I say the credit card debts are the biggest worry facing the people in America.

This is the primary reason I decided to cancel my American Express credit card recently. Once I had the power to buy things without parting with my money immediately, I was almost unstoppable. I was using my card for just about everything, but I soon noticed the debts were mounting. I was in a right state when I finally admitted that I couldn’t pay the debt.

It took a debt consultancy specialist to finally get me back into a position where I actually started to pay my debt off. This is not something I ever want to happen again. Now, however, the debt is paid off and the American Express credit card has gone. Most of you reading this will probably think it’s not the fault of the credit card but you need to understand something fundamental about human psychology.

Paying with cash makes you aware of how much things cost. Like I said before you are not as conscious of the cost when you use your credit card. I would spend money on everything, almost like a person possessed but before long, there wasn’t anything left. Now there is no American Express credit card; so no problem.