Did you know that getting a credit card for emergencies is one of the most common credit card mistakes you can make?
Sadly, I found that out the hard way, leaving me frustrated and discouraged.
Here’s what happened — plus what you can do to avoid falling into the same trap.
(Or to escape that trap quickly and fix things if you’ve already fallen in.)
How it started: Making one of those common credit card mistakes…
Shortly after my first husband and I got married, we got a credit card to use “strictly for emergencies”. We were really clear on that up front, and believed that having the card would also benefit us by building credit. We felt a little bit nervous, but also smart.
The problem was – or so I thought – that we kept having emergencies.
One of us “had” to fly out of state for a funeral. Twice. We also “had” to replace the clutch and the brakes on my lemon of a car. Three or four times!
So of course, we used the emergency credit card to do so. That’s what it was for, right? There was just one huge problem…