These days, a credit card has become almost a necessity. Why, since I cancelled my American Express credit card, I have been unable to partake of a wide variety of goods and services, and that is no joke. Just ordering some clothes over the internet wasn’t possible and how basic is that in today’s world. The old days of cash being king are gone.

Using an American Express, Visa or Mastercard has become commonplace globally but we do it without thinking, do I need this and do I have the money. Although American Express credit cards are a really convenient way to make a purchase – get it now and worry about it tomorrow – it does come at a heavy cost. Unfortunately, credit card debts are mounting in many places around the world. It is not a lie when I say the credit card debts are the biggest worry facing the people in America.

This is the primary reason I decided to cancel my American Express credit card recently. The problem was it was too easy just hand over my card and buy things without seeing the money being spent. Mounting debts lead me to realize that I had been using my card for everything and anything including food! Panic kicked in when I found I could no longer pay the debt.

I actually had to go through a debt refinancing service to get my credit card debt into some kind of shape where I could hope to pay it. It was like being in a living nightmare. There is a happy ending though because my debt is paid off and the American Express credit card has been destroyed. A lot of people would think that it is rash to blame it on my credit card, but I think that they do not understand something about human psychology.

When you have to pay for everything with cash, you are so much more conscious of how much it costs. Like I said before you are not as conscious of the cost when you use your credit card. It wasn’t until I had spent all my money I’d realize that I had been spending it like a running tap. Now there is no American Express credit card; so no problem.