Payment using Credit card

Hi Professor2010! I am like you. Take yesterday as an example. I drew out £10 from the ATM to use in one shop (so I knew I would have some change for future purchases) and the debit card itself to purchase a few other things in another shop. That way, I'm not tempted to take too much out of the ATM, if that makes sense! I've had a nil balance on my credit card for quite some time and it took me ages paying it off as I'm out of work. A few days ago both me and hubby ritually cut both our credit cards into tiny pieces, it was an enlightening experience I can tell you! The thing with John is, he gambles and, no doubt his credit card details are already "in the system" so to speak but I do have to trust him, don't I? He knows that I know the extent of his gambling. When he is off work next week I shall make sure he is nowhere near a computer and we shall go on walks and things, weather permitting. Nice discusson topic by the way.

Hello my friend Professor2010 Ji, Well, in fact we do not have any such cards at all and in cvase of my hubby, it very wrell known that he will never get tempted to buy anythings other than planned. We will carry oiur list and confine to them only. Some few years back our younger son provided his credit cards which is combined for emergency use, taht also is returned back. We always think syuch emergency never arise in anyone's life. We just do not encourage paper money. Thanks. May God bless You and have a great time.

Sir, I use credit card most of the time because I get some time to have the cash in hand. I do not think that having a credit Card adds unnecessary expenduture, it is all about managing the money. If I do not want to spend money wheather it's credit or cash, will not do so but need to spend money on required things for sure. Another reason I use credit card to get some reward points that I can use for some shopping voucher, again that is not just to gain some points. I will use card if need to buy something for sure. I make it a point to pay on time to save from unnecessary charges. Thank you for sharing.

Although i use Credit Card in daily life.I think the Credit Card is not a good method to buying something.Credit Card can make you spend much more money.When you have no money in your wallet,you can use Credit Card to buy anything

I am from the old school and still do not use credit or debit cards to purchase. Call me ancient. I find that when I pay cash, i get better discounts, sometimes no tax, and the sale is final. I do not succumb to the illusion of owning something new that is not really mine until i finish paying my credit card and become the owner of a used item in the end. Millions of people will of course disagree with me. But right now, my only bills are rent, utilities, and food. When i first got a credit card, my first impulse was to break it in and took out some friends to dinner. That dinner put me unnecessarily as you put it, in the hole for almost 200 dollars. I ripped the credit card up that same month.

hi, actually im excited to use a credit card as my payment basis, but when i gradually noticed that when i used credit card, it will charge you an interest percent depend upon the bank, so its still better to use cash basis payment that credit cards.

use debit card the most. I am over my limit on credit cards sighhhhhhhhhhhhhh

We do use our credit card for paying the bills online. Sometimes we use our card for paying our grocery but most of the time we buy in a local store to avoid over spending since we are saving money so we need to control our expenses. We also use our c.c. for reserving seats on train travels as well as when I book my flight. It has advantages of using credit card but we should know what is necessary and not for just pleasure since we know that over spending of credit cards will lead to deeper problems in debt.

For me it is good but many times it is not good due to the reason of not control you self about it it can more problem to it anyway.

I don't carry cash when going out. When I have to buy something, my husband is there to pay for it, ahehe... I use my credit card only to shop online though and very limited. If it too expensive for me, I would ask my husband if it's alright to buy it coz he is the one to pay the bill. Also I always pay advance or before the due date. =)

I always use credit card on purchasing items. Because I earn points by using them. I only use cash when they offer a big discount when you buy using cash. BUT I always make sure that I can pay for it at the end of the month. And so far, I never missed a deadline. It is just a matter of self control.

I've been in the financial industry for 15 years. It takes a lot of discipline to handle credit cards, I agree. Luckily we foresaw the bubble bursting and paid off all credit card debt. We have three credit cards and use them frequently. But we use them to move money more conveniently. We plan how much we will need to spend on food, clothing, etc., etc. That money stays in the bank until we pay off the card, which is within the month so we aren't paying the interest. It's hard to do and the credit card companies dangle the money "carrot" all the time. Plus more cards are sending us applications all the time. I saw how their marketing strategy worked and was appalled. Just one example of this is they know if they send you the card in the mail with your name on it and you have it in your hand you will be more tempted to apply for it. They would say "this account is reserved only for you. It's as easy as picking up the phone and talk to one of our account processors who are very happy to serve you!" Well of course they are. They want that 24% interest out of your pocket and in theirs!

Hello professor,i agree with your view that carrying the power of credit in your pocket lures one into making unwanted purchases,he/she could have avoided whilst carrying cash.There are so many instances with friends and family that you cannot avoid and go in for the unnecessary swipes. I personally dont have a credit card,but willing to get one in the near future,basically for online purchases and transfer

Hi, i do had a credit card and did not know anything about the interst and used very badly and also suffered very badly. now i know about the card and very care full about using it . its a nice topic thankyou

Hello my friend. Yes I used my credit card regularly before debit or cash. I used discipline though and don't spend what I know I don't have. I keep and eye on the balance very closely and pay the bill in full every month. That way, I get some interest-free credit of a month, and I also gets loyalty points that mount up into cash and I can buy treats around Xmas time every year. _Derek

It depends according to the situation. While going outstations and we are running short of money, we swipe credit card to buy petrol for our car. For heavy purchase we use credit card and repay the amt within one month.

Me, i use my credit card only on items with huge amounts and would pay them in 3 months. Of course, there's interest but it just but fair because my pay wouldn't suffice that i pay it in one payment. But i see to it that i do not use it for any other thing but those very much needed items with big amounts only. So far, i can pay it as i have planned to pay it.

I used to have a credit card, but they are such a rip off. Unless you pay off the full amount each month, it appears to be a never-ending debt hanging over you. Now I have two accounts in one bank. My wages go into one and I have a set amount that is transferred weekly to my debit account. I keep a close eye on that one and never spend more than is in there. Also from this debit account I transfer some money to a savings account, so that any unexpected expenses are covered. It works for me.

When looking at the advantages of having a credit card it is very easy to overlook the disadvantages and the possibility of the spiraling costs of items compared to waiting and paying for them once you have saved enough money to pay outright. Here area few of the basic disadvantages. With a credit card comes the interest payments. Unless you pay off the total amount of your credit card each month (and chances are you won't) you will end up paying interest. This interest will mean that the cost of paying for items ends up being much more than they originally cost. It is easier to buy on impulse. When you have the ability to pay for something there and then on the spot means that you are more likely to pay for something on your credit card. This means you are more likely to get into debt buying things that would normally be either too expensive or a luxury. If you are late with your payments then you will pick up charges, the average late charge is $30 so imagine if you miss 3 payments by a day you will pick up $90 in charges. Doesn't matter if you owe $5000 or $50 you will pick up the full charge so always pay on time! Annual fees are very common with credit cards which again can push up the cost of paying for items without you even realizing. There are some transaction fees that you will encounter when buying certain items but this varies from card to card. Basically be very careful when you are applying for a credit card make sure you weigh up all sides of the argument for getting one.