Rotich, discard the credit card or history will be unkind to you

Cabinet Secretary for the National Treasury and Planning, Mr. Henry Rotich at treasury with the budget briefcase at the treasury building on June 14, 2018. [David Gichuru/Standard]

How credit cards work is that you get to spend the money you do not have and all of a sudden you are a man or woman of means. For whatever reason, if you are unable to pay, the credit card company gives you the option of securing another credit card or taking another loan. So, instead of solving an emerging debt crisis, you fall deeper into a vicious debt cycle.