Why I Was Told Credit Is Bad

I don’t know how many people were told this but when I was 18 years old on the verge of college I was highly misdirected. Maybe the person couldn’t think right cause it was hot or something that summer. I don’t know. What I do know is that I could have been way better off had I not listened to this person tell me lies.

Me and best friend had gone to a summer program for financing. This was only about a week but we were both there to learn something we could take on in this new chapter. We sat down in a circle with others who were there. Then the lesson began. They told us about how to work and find jobs in the market. Not jobs that would lead us to be successful entrepreneurs but rather to be a head burger flipper at a place called McDonald’s within 5 years. Such a sweet deal, I know. As we were learning the necessities to be in poverty she said something else that I would eventually hang on to for a long time. That great advice was none other than to have only debit cards throughout life. Never purchase a credit card.

You may be thinking why would I listen to something so bogus. She proceeded to tell me that me and my friend plus anyone else that would not heed to her words would be in incredible debt all their lives and not be able to sustain themselves. In my head I’m like “Oh no! I don’t want to end up on the street. I like having money!” It didn’t resonate that she was completely wrong until I researched the responsibilities of having a credit card. And there were perks.

I could have had a house 5 years after that day if I had not listened. This woman had the kind of mentality of a broke person and I was being led astray. If I hadn’t changed my opinion within the near future I would be checking in for food stamps real soon. At the age I’m at now I have enough knowledge about finance to not be hoodwinked or bamboozled. It took alot of research from Encyclopedia Google. Funny enough I learned way more than I did from that lady and my high school’s economic class combined.

So you’re telling me all I have to do is buy stuff and pay it back on time and I could receive certain rewards like a cheap plane ticket or box seats at a Knicks game? If she said that instead I would have signed up for a credit card the moment I had a job. The only good thing that came from it is that I had no debt throughout all these years so that part that she explained was accurate but everything else she could have saved for her own opinion and if she wanted to continue in that life then go ahead.

If someone close to you or a teacher has told you this same farce you need to go to them and ask them questions. Ask them how did they get that new car or house if credit is bad. Or how they acquire certain perks from it and its still bad. I needed answers to the financial game but I had the wrong answer for years. I hope I stopped you from wasting away your life from growing as it should. If you’re a responsible adult and you pay things that you owe on time then there’s no reason you can’t apply for a credit card. I did. Years later but I did. Don’t take as long as me. It isn’t worth it. Literally.



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