7 Reasons Why You Shouldn't Use Your Credit Card in an Emergency ...


It's common to use a credit card in an emergency, but there are good reasons to consider other options. When you don't have cash and can't borrow from family and friends, using a credit card may seem like the logical choice – and sometimes it is. But there’s a price to using plastic. Here are seven reasons why you shouldn’t immediately pull out your credit card in an emergency.

1. Credit Cards Aren’t the Substitute for an Emergency Fund

Being disciplined and saving an emergency fund is one of the best ways to prepare for an emergency. However, some people fail to save money, and prefer to rely on credit cards when they’re in a jam. However, using a credit card in an emergency is not always the best solution. Change your mindset and realize that credit does not substitute for a rainy day fun. Start depositing a percentage of your check each week and you'll be better prepared to handle an emergency.

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