As someone who is struggling with debt on your credit cards now, you’re frustrated. You were told that using credit cards was the best way to build your credit and believed that you would be able to handle the small payments each month. You didn’t realize how much the fees were or how interest would affect you.

You’re interested in seeking a Chapter 7 bankruptcy now because you want to get back your financial security. You do want to know, though, if you will be able to get credit again. If so, is there ever a time when using those cards is actually appropriate?

Is using credit cards a good idea?

There is no easy way to answer this question. If you are being financially responsible, then using credit cards can be a good way to improve your credit score, give you time to pay on something you need and even earn rewards from those credit card companies. Sometimes, you may need to make a small purchase to keep your card open.

Inactivity on credit cards means that the card companies may close them. On the other hand, making a small purchase and paying it off here and there will improve your credit and could lead to an increase of your credit line.

To give you the simplest answer: Credit cards aren’t necessarily bad. How you use them matters. It may be a good idea to have one for emergencies, but it’s better to have a great savings and freedom in your finances. If you’re ready to pursue your Chapter 7 bankruptcy to get that financial security, our website has more information.