Credit Card Responsibility

Credit Card Responsibility

Growing up with the advancement of technology has created a whole new species of people known as the Millennials. Millennials are just. . . different. Millennials do things their own way, which baffles every other generation.

Research shows that most millennials do not have a credit card. According to money.cnn.com, less than one third of millennials have a credit card.

Being exposed to debt has had an impact on the generation. Having friends or family in debt has made millennials extremely debt-conscious. While a good portion of millennials have student loan debt, it ends there for them. The idea of more debt is intimidating, preventing them from using a credit card.

However, credit cards are important–nearly essential for your life. Why?

● Building your credit is necessary to get accepted into a nice apartment.

● Your credit determines whether you qualify for financing on a new car.

● Your credit even determines what you pay for a new phone sometimes.

● Credit cards provide a short-term loan. Just in case.

● If you need a large loan, your credit determines whether you can get one or not, and determines your interest rate as well.

● Being responsible with your credit card will help increase your credit score, which can give you cheaper insurance rates.

Because credit cards are the best way to build your credit, millennials who do not have one should consider applying for one. Being responsible with your credit card is key to success–build your credit while avoiding further debt. Here are a few tips to follow to be responsible with your credit card.

1. If you’re debt-conscious, this should be easy for you–do not spend more than you can pay back.

2. When you can, pay back more than your monthly minimum.

3. Keep a close eye on your finances–know where your money is going, and know how much money is coming in. Stick to a strict budget.

4. The lower the fee, the lower the interest, the better.

5. Timing is everything. Set an alarm on your phone every month to remind yourself to make your payment. Write yourself a note and stick it on your fridge. Write a note on the back of your hand. Whatever works.

6. Set up Auto Pay, if there’s an option. Do not be late on a payment, this can negatively impact your credit score. Even if you’re just late one time.

7. Choose your payment date close to your pay-day, so you’re guaranteed to have enough money to pay it right away. You’ll never forget when payday comes, so it’s likely you’ll remember your credit card payment on that day as well.

By: KayLynn P.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

One Name Wonders: The Alluring Allure of the Single-Name Star

Beyond Beyoncé: How Celebrities Achieve Mononym Magic

Family First, But Business Savvy: The Dos and Don’ts of Hiring Family

Blood, Sweat, and Sales: A Guide to Hiring Family for Your Small Business

Life Insurance: Unraveling the Mystery (No Shady Business Here)!

Life Insurance FAQs: Unveiling the Mysteries and Myths (Without the Gimmicks!)

Gone But Not Forgotten: The Era of the Full-Service Station

A Blast from the Past: Remembering the Golden Age of Full-Service Gas Stations

Selling Your House? Navigate the Maze with These 4 Options

Unveiling the Maze of Selling Your Home: Realtors, Discount Brokers, FSBO, and Cash Buyers

Beyond the Buzzer: Fun & Funky Facts About Your Favorite Game Shows!

From Heavy Wheels to Sneaky Buzzer Tricks: Unveiling the Secrets of Game Show Production

Home Office Hustle: When Working Remote Turns into Running a Business

Working from Home or Running a Business? How to Tell (and How to Insure Yourself)

Life Insurance Claims: Demystifying the Process (So You Can Get What You’re Owed)

Life Insurance Claims: A Simple Guide to Getting What You Deserve

Selling Your Used Car? Polish It Up, Snap It Up, and Sell It Smart!

Conquering the Used Car Sale: A Guide to Getting Top Dollar

Curb Appeal on a Budget: From Bland Yard to Backyard Bliss

Landscaping Magic: Unveiling the Budget-Friendly Path to a Stunning Home Exterior