My husband and I were both unemployed for a few months last year AND had to move so we ended up putting a lot of our moving and living expenses on a credit card before we got our new jobs. I have FINALLY paid that off and feel like such a weight has been taken off of me. I do not make a lot of money but I am a huge advocate of financial literacy and budgeting.
I know we live in a broken arbitrary hellscape system (sorry folks this is US specific) that is quite literally created for and by the benefit of the most monied classes but it is an unfortunate truth that the best way to start to navigate and possibly even benefit from that system is to learn about it. The people āhackingā credit cards (points for free flights, hotels, etc) are already financially stable and responsible, for people with less money or who are paycheck-to-paycheck it is one of the most predatory systems and is a massive disgusting wealth redistribution from the lowest classes to the wealthy classes and banks. The reason they have these points and rewards systems that can be so beneficial is because the majority of people do not benefit from it in any way, they are going further into debt and paying interest. For a larger balance, it can take you literal decades to pay off with only the minimum payments. This system is set up to entrap poor people and make them poor forever.
To fight the system, you must learn it. Do everything in your power to get out of and avoid bad debt. If you do want to use credit cards for points and rewards, do it with intention and NEVER carry a balance. People make a big deal about credit and often want a CC so they can build credit, but if you are not thinking of purchasing a home or a new car (the car industry is another evil ploy to impoverish the already poor and saddle them with tens of thousands of dollars of debt on an endlessly depreciating asset, literally never buy a new car, always go used) you donāt need to give a fuck about your credit, you need to stay out of debt! There are other tools to build credit, debit cards that can be used to build a credit history, etc.
I would like to go through the rest of my life without another interest charge because it feels like a sad, twisted tax on poverty. If you do not NEED something, do not EVER put it on a credit card unless you are absolutely certain you will be able to pay it off. Oh and fuck klarna, after pay, etc. These are created to make money off of and to subjugate the poor.
I could go on and on and on about this but I urge you to do your own research. If the financial system (credit, loans, retirement, etc) seems confusing and intimidating to you, just know it is designed to feel that way. They want you to see it all as boring, impossible, fruitless. they want you to feel disenfranchised and disempowered the moment you think about retirement savings or budgeting. now, more than ever, you should learn what exactly it is youāre up against.
TL;DR: do not get a credit card without understand how they work, who benefits from that system, and how/if you even can benefit from it. Focus on avoiding debt more than building credit. Buy a used car. Try to save for retirement. Just keep trying and learning about personal finance and financial systems, even when you feel clueless and overwhelmed. Youāre supposed to feel hopeless, do not give up, the wealthy elites are betting on your ignorance and dispassion and they are making billions on it.
