Credit Cards

Credit Cards Are Only Tools In Your Financial Toolbox

Happy Friday everyone.  As you know, Debt Roundup’s first birthday was Monday.  If you haven’t done so already, head over to the post and check it out.

$100 Giveaway!

That’s right, I have a $100 cash giveaway going on right now.  It is going on until 9/9 and it is really easy to enter.  All you have to do is sign up for the Debt Roundup Digest weekly newsletter.  You can do it in the sidebar or use the form at the bottom of this post.  Either way, you will be entered to win $100 along with the monthly $25 raffle.

Your Toolbox

I am super excited about creating video posts.  In lieu of that, I decided to create a post about how credit cards are just tools.  I went into detail about how you can use the credit card in the right way and earn rewards.  If you don’t know how to use the credit card appropriately, then you need to put it away and learn the right way.  It is the same thing as a tool.  If you don’t use it correctly, then you can cause damage.  I hope you enjoy the video and leave me some comments about what you want to see in the next video.  Yes, I do take requests.

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Grayson Bell

Grayson Bell

I'm a business owner, blogger, father, and husband. I used credit cards too much and found myself in over $75,000 in debt ($50,000 in just credit cards). I paid it off, started this blog, and my financial life has changed. I now talk about fighting debt and growing wealth here. I run a WordPress maintenance and support company, along with another blog. It is Empowered Shopper, which helps people get information about products they want to buy. You can also check out Eyes on the Dollar, which is a great blog that I co-own.


  1. August 30, 2013 at 6:06 am — Reply

    I don’t get all of the “credit cards are evil” rhetoric. I mean, I understand where the sentiment is coming from, but as you say it all comes down to how you personally use them. Credit cards are incredibly useful when used properly and incredibly dangerous when used improperly. Kind of like a car. Or a chainsaw. Or almost anything else you can imagine.

    • September 1, 2013 at 3:24 pm — Reply

      I don’t get it either. Yes, I have been in a lot of credit card debt, but it wasn’t the card or banks fault. It was my own. Once you realize that, you can really use the card for good.

  2. August 30, 2013 at 7:06 am — Reply

    Very cool you are doing video posts! I don’t think I’ll ever make video content, but I would love to have some on my site. Would probably have to pay someone to do it for me tho haha.

    • September 1, 2013 at 3:25 pm — Reply

      Thanks DC. I figured I would try something new and even if it doesn’t work out, I can always say that I did it.

  3. August 30, 2013 at 7:26 am — Reply

    Love the video Grayson! I don’t think credit cards are evil…it’s all about the behavior of the person. My wife and I used credit cards for the longest time and exercised poor behavior because we spent way too much money. We switched to solely using a debit card and cash and that helped us develop the discipline to spend less.

    • September 1, 2013 at 3:25 pm — Reply

      Thanks Brian. I don’t think they are evil either, but many people do. I think they can be a great tool.

  4. August 30, 2013 at 8:00 am — Reply

    Great video Grayson and you’re spot on in my opinion. I think it’s easy for some to say that credit cards are evil or bad, bat at the end of the day it’s how you use it that matters. If you have a spending problem, then you shouldn’t use them but if you handle it wisely then go for it.

    • September 1, 2013 at 3:27 pm — Reply

      I appreciate that John. I think it is easier for people to blame the tool instead of how they used it.

  5. Thomas | Your Daily Finance
    August 30, 2013 at 8:30 am — Reply

    Yep they are tools and its up to you how you use them. Credit cards are good if used properly and it doesnt really matter which credit card you have. Screw drivers are meant to be use to help fix and repair things no stab someone. I would say get rid of the credit card until you know how to use it.

    • September 1, 2013 at 3:28 pm — Reply

      I certainly agree with you Thomas. I hope people wouldn’t use the screwdriver like that, but I am sure it has happened before. It is the same thing as the credit card.

  6. August 30, 2013 at 9:39 am — Reply

    I love that you did a video post this time. I definitely enjoyed watching it and learned a lot from viewing it. So excited watch your next video post.

    • September 1, 2013 at 3:28 pm — Reply

      Thank you Marissa. I am glad you enjoyed it.

  7. August 30, 2013 at 9:41 am — Reply

    It’s an awesome giveaway, Grayson. I’m so excited to know who the winner is. Ha!

    • September 1, 2013 at 3:28 pm — Reply

      Thank you. The winner will be announced a day or two after the end of the giveaway.

  8. August 30, 2013 at 12:47 pm — Reply

    Unless you are a firm Dave Ramsey follower, the fact of life is that it is extraordinarily difficult to get anywhere in this life anymore without good credit. And the easiest credit to receive is going to be credit cards.

    • September 1, 2013 at 3:29 pm — Reply

      I agree Edward. I don’t really understand why he preaches to not use credit cards at all. I mean, I was in a lot of debt, but I understood that is was me that caused it. Learn how to use the tool properly and you will succeed.

  9. August 31, 2013 at 11:16 pm — Reply

    I quite like credit cards. I use them for everything. They are definitely a tool, and you can do a lot with them.

    • September 1, 2013 at 3:29 pm — Reply

      I agree with you. I use them for everything as well.

  10. September 1, 2013 at 11:59 am — Reply

    Yep, they can be dangerous if used in the wrong way. But so can a current account that has an overdraft.

    There are many many benefits to credit cards, which greatly outweigh the negatives if managed properly.

    • September 1, 2013 at 3:30 pm — Reply

      I certainly agree. I see the benefits of the credit card every day. It also makes my budgeting life much easier!

  11. May 1, 2014 at 8:45 am — Reply

    I’m all for the individual making good micro choices; however, credit card companies have spent years and billions to understand human behavior and to exploit it. To just blame the individual may be a little unrealistic. I agree it’s a tool and there is a lot of gain to be had by properly managing and taking advantage of offers; however, the average consumer doesn’t have the time of day to fully understand what is out there and the credit card companies know it.

    • May 1, 2014 at 9:20 am — Reply

      I replied to your other comment Sam, but pretty much, I find your comment sad. Not that you made the comment, but that you are giving an excuse for the average consumer. You are the one that gets the credit card, uses it, and then is supposed to pay it off. No one forces you to use it or even get one. There is no one pointing a gun to your head forcing you to use one. Come on!

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