Credit Card... To use or not to use
@scarletwitch12 (562)
Philippines
June 14, 2009 1:40am CST
I have never had the urge to apply for a credit card in all my years as an adult. The truth is that I have always preferred to pay cash whenever I go out shopping. (which is not always!)
Nowadays, credit card companies offer countless returns to their clients. Of course, the idea was to attract more clients by making them see that the money they pay for interest in the use of their cards whith every purchase they make, they make up for the returns they are going to get.
As someone who do not have a credit card, I may not be the person to consult with these sort of things.
This is the question, is it really worth the interest to have a credit card?
3 responses
@faisai (1138)
• Hong Kong
5 Jul 09
First of all, using a credit card to pay for your purchases does not necessarily mean you have to pay interests. As long as you clear the balance before the deadline, there are no extra charges applied.
I have around 10 credit cards for 10 years already and the banks have never charged me any interests so far despite the fact that I have been using them to buy things from time to time.
In the end, I believe it is attitude. I treat credit card as a linkage to my saving account and thus only buy things if my saving account can support. It is like using cash for me just I don't have to really take out cash before making purchases.
@scarletwitch12 (562)
• Philippines
7 Jul 09
Some people really do turn to the plastic because it is far more convinient. I totally agree with what you said that it is all a matter of attitude.
Thanks for your response.
@purplelilac (169)
• United States
10 Jul 09
It is better not to use them because of interests. I use a credit card when I have a lot of bills that have to get paid and I am short on cash. It's convenient and I don't have to worry. most financial planners say to not use them and just pay them off. I think by using them a little bit your credit rating gets better though but if you use them too much it can have a negative effect.
@faisai (1138)
• Hong Kong
11 Jul 09
As far as I know, if you pay back the money when the bill arrives, there is no interests induced... of course if you draw out cash directly, that would be another story. Most people, however, don't clear the balance but instead only pay the minimum payment and thus see the balance accumulated every month which finally turn into something they can't handle.
@ledydien (85)
• Indonesia
5 Jul 09
I'd rather not to have it n not use it... The reason is because i'm affraid od being addicted and makes me shopahollic, because it's so easy to buy things... i'm affraid because of that i'll get a lot of credit and i dont know how i'll getting even the obligation... I prefer to pay cash or if there's crucial situation i prefer to borrow my parents or my sisters
@scarletwitch12 (562)
• Philippines
7 Jul 09
That is a responsible way to look at it. If you think you would end up in debt, better not have one right?
Thanks for your thoughts!
@twoey68 (13627)
• United States
15 Feb 10
I had one credit card which I maxed out and it's in default. I'll never have another one. I do have a debit card through our bank and that's what I used when I would normally need a credit card. For me it's just really not worth it to have a credit card.
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