In your opinion, what are the Pro's and Con's of having a Credit Card.

The problems with credit cards really come up when people use them as a means to purchase things they really can't afford. It's a hard line to walk for some--you really need at least one credit card to boost your credit score, but you have to keep your spending under control. Carrying balances that are close to your credit limit will harm your credit score, not help it. But if you can demonstrate that you use the credit available to you responsibly, it can help you get financing for larger purchases like vehicles and homes.

This is a really good discussion and I know credit is really important in everyones life because it is how you get loans and stuff like that,and I am sure that different people have different opinions when it comes to credit cards,I am sure that some people like them,and will use them whenever they can because they think it is easier than using cash,and then I am sure there are people who do not like credit cards,or do not use them much because they do not want to go into debt because of them,and I can understand that everyone thinks differently and that not many people have the same ideas,preferences,and opinions,when it comes to me I will not have a credit card unless it is for emergencies only,because credit cards are nothing but trouble,if you do not pay them off they will put you into debt and that will destroy your credit,and plus they can get stolen and used for fragelent purchases,and I have seen people who have gone credit card crazy and they will buy everything with their credit card,and they have like three or four different ones which is ridiculous if you ask meand I am just waiting for them to go into extreme debt when they can not pay off the credit card,because sooner or later the credit cards will bite them in the butt,have a great day,good luck with your life,and all of your mylotting goals,and Happy Posting.

The advantages of credit card are: It's convenient to go shopping and pay for the bills. It is clean and safe because you don't have to handle a lot of cash. You won't have to afraid of the fake money. Perhaps your bank will give you some gifts because you use a lot of your credit card. The disadvantage are: Perhaps some people depend on the credit card so much and they live the debt life. They purchase something which they can't afford. They return the money later. After some time, the debt can be a big amount. I love China

It's ok if it's regularly paid off... the problem is most people drag a balance from month to month and see a credit card as a way to endulge in things they don't need and can't pay for with cash. they end up bogged down by the interest rate, late payments, etc. I have one just in case things go WAY wrong but I keep a couple thousand dollars around for small emergencies like car repairs. It works best if you have the cash available for things like that so you aren't dragging a payment. My credit card is in a block of ice in the freezer. hehe it'll take a while for me to get to it if I need it. :-) I'll have to REALLY need it. No impulse buys. :-)

It really depends on the situation. We'll use my story for an example. You and I are the same age and we both got our credit cards at the same age. When I got my card I had two jobs and my limit was only $150, so I could afford it then. I always paid on time, even if it was only the minimum and I never used my card unless I had to. Well, since I had near perfect credit, the credit company quickly raised my limit from $150 to $900. It happened so quickly that it caught me by surprise. I had logged on to my account one day and seen that I had a lot on money to spend and I had no clue as to where it came from until a few days later when I finally got a letter in the mail. Well, after rising gas prices and a series of unfortunate events with my car, I had less than a hundred dollars left on my card and I wasn't making enough money at my job to pay off the balance quickly. Then, I started college and after being charged for a book I didn't need, my card was maxed out. I got a refund but the damage had been done. I have since been struggling to pay off my debt. Now, you'll hear people say that you should not get a credit card unless you can afford it. Well, at first I could afford it, but life happened, so now I can't. Fortunately, I still have my youth, so my credit won't be ruined forever since I have plenty of time to rebuild it. As long as you have a steady stream of income and pay your bill on time, you're okay. But sometimes things happen and you get stuck with late fees and high interest rates. Sorry for being long-winded. I didn't think this post would be so long.