Bryan P. Keenan & Associates, P.C.
Free, Fresh-Start Consultation 412-923-4941

Providing The Advice And Options You Need To Overcome Financial Problems And Move Forward

A bankruptcy attorney who cares about you and your future. Don't let debt problems disrupt and define your life.

Bryan P. Keenan

Credit card debt may be okay in certain situations

People in Pennsylvania are generally aware that debt on a credit card is undesirable. A majority of credit cards charge high interest rates, which makes it expensive to maintain a balance on a card from one month to the next. Credit card debt may also negatively impact one’s credit score, especially if the person’s cards are maxed out. It’s best to use credit cards in only a few select situations.

Credit cards are appropriate to use in a major emergency. Emergencies may include having a car break down or dealing with a medical crisis. In addition, some people use a credit card because they earn outstanding rewards each time they use it. However, if a person decides to max out a card in order to collect a plethora of rewards, it’s wise to pay this balance off prior to the next billing cycle to prevent it from hurting his or her credit.

Credit cards may also be a huge help when a person is unemployed for an extended period of time. This is particularly true if the individual’s emergency fund begins to dry out. A credit card can help a person to cover the cost of basic needs, such as fuel and food.

A credit card may also be attractive if the company is running a promotion where it is charging 0 percent interest. If a person maxes out the card but pays off the balance before the period of no interest is up, he or she can save dollars in interest in addition to eliminating balances on other cards -- thus improving his or her credit score. At times, credit card debt can get out of hand, and there may seem to be no way of paying it down in Pennsylvania. Personal bankruptcy is one way to remove this debt in a responsible way and improve one’s quality of life financially.

Source: USA Today, "The Only 4 Times You Should Max Out Your Credit Card", Lindsay Konsko, Aug. 9, 2014

No Comments

Leave a comment
Comment Information
Email us for a Response

Solutions May Be Just An Email Away

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Bryan P. Keenan & Associates, P.C.

993 Greentree Road
Suite 101
Pittsburgh, PA 15220

Phone: 412-923-4941
Fax: 412-444-0158
Pittsburgh Law Office Map