credit card debt

Why Credit Card Debt Is More Tempting Than A Cinnamon Roll And How To Resist

Credit cards have been around for a long time and tend to split a crowd — some people love them, some people hate them. Well, by the end of this, you'll be sure where we stand on credit card debt. So let’s have a deeper look at what makes credit cards so tempting, and how other options, such as car title loans in Delaware, can offer help when needing cash.

Why Is Credit Card Debt So Tempting?

For years, credit cards have been one of (if not the most) pressing consumer debt concerns. And much like our favorite Cinnabon treats, they are just too tempting not to use. But why is that?

The Head of Products at Equifax, Robert McKechnie, states that it's likely due to the lack of confidence credit card users have in managing their spending. Not to mention the 'quick fix' that many impulse purchases tend to have. Today's world moves so fast that it's not surprising lots of people are feeding their fast-paced lifestyle with off-the-cuff unnecessary credit card buys. 

Not to mention that you can often find credit card providers who are willing to lend to you, regardless of your income. Thus, opening up a seemingly endless pot of gold for you to continuously splurge and 'treat yourself.'

The temptation to overspend — much like the temptation to overindulge on cinnamon buns — is just too sweet and accessible. It's right there in your wallet, after all. But while it's all fun and games to begin with, it takes just a few poor choices to tumble into severe credit card debt.

Why Should You Resist Getting Yourself Into Credit Card Debt?

Despite the strong pull to go shopping with your credit card taped to your hand every weekend, it's essential to resist the lure of credit card debt. There are many reasons for this. So, let's look at a few of the most important ones.

1. It Could Ruin Your Credit Score

Credit cards (and indeed, credit card debt) significantly impact your credit score. When you use it wisely, you'll make a fantastically positive change to your score. But one move off-piste, and you risk destroying it.

For people who have less-than-average credit scores at the moment, this might not seem so bad. Unfortunately, you may fall into the trap of believing that it can't get any worse. While this may be true in extreme cases, it can certainly get a lot better — and getting yourself in credit card debt will do the opposite.

2. The Terms Are Full Of Jargon

Nowadays, credit card terms aren't as confusing as they once were. But they're still somewhat confusing if you're not a part of the financial or legal world.

On a single term, you can find a multitude of interest rates without knowing which one applies to you. This confusion can lead to catastrophic endings like high charges and damaged credit.

tracking spending

3. Hard To Track Your Spending

Tracking your spending is the core of a satisfying financial life. However, credit cards make it much more challenging to keep up with everything. We see the confusion arise primarily in those who use credit cards, cash and debit cards, or multiple credit cards. 

4. Potential For Credit Card Fraud

Anyone who owns a credit card is at risk of becoming a victim of credit card fraud. For example, someone may steal the card or your information from a business you've shopped at before. 

An Alternative to Credit Debt When You Need Money Now

So, what can you do when you need money quickly to deal with an emergency, but you don’t want to put yourself in the never-ending credit card debt cycle? That’s when you can consider Delaware title loans

Here at Delaware Title Loans, Inc., you can borrow a lump sum (up to $15,000) depending on the value of your vehicle. The process takes just 30 minutes, and you also keep your car while repaying your loan. 

auto title loans cash

How To Get Auto Title Loans In Delaware

It’s rather simple and quick. Follow these steps to get auto title loans today:

  1. Complete the inquiry form on Delaware Title Loans, Inc.
  2. Sit back and wait for one of our friendly loan associates from your nearest Delaware Title Loans, Inc. location to call you. They will explain the process, answer your questions, and tell you about the required documents.
  3. Once the call is over, head to your closest Delaware Title Loans, Inc. storefront with the following required items:
    1. Your state-issued photo identification (such as your driver's license).
    2. Your vehicle for inspection.
    3. Your lien-free title to your vehicle.
  4. When you arrive, one of the loan experts at the shop will check your documents and examine your car. It will only take a little bit of time, and it's essential to figure out how much we can lend you.
  5. If you are approved, they will inform you how much you qualify for, and you can complete the paperwork with our loan specialist (assuming you're happy with everything, of course!).
  6. Once you are done with your paperwork, you can receive your auto title loan the very same day or the following day, depending on bank delays.

Qualify For Auto Title Loans Right Here

As you go through life, it’s important to not be tempted by every impulse purchase. This will only lead to credit card debt regret! But when you are dealing with an emergency, consider our auto title loans. We're just a phone call away at 800-514-2274, or you can also submit an online form today.

Read more of our articles about managing credit or debt.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Peyton Sawyer

Peyton Sawyer learned to navigate through the world of finance the hard way. After living a comfortable life as a homemaker, she became a single mother of three without warning. Through trial and error, she found her way back. Now a savvy financial consultant, she is helping others find financial security.