Do you have a credit card?

In addition to my previous post, credit cards has high interest rates. Usually from 3-4% every month. If you have unpaid balance from your previous months, interest will compound to your next bill plus other charges like finance charge and late payment fee. That's quite heavy. If you will be getting a credit card in the future, make sure that you'll pay your credit card bill before it's due date. In that way, you will not be charged for interest and other finance charges.

For me, I do not encourage anybody to use it. You will be drowned into debts because the urge is always there as you see things that will force you to buy even out of your budget already,however, if you have that strong discipline in your own self to stick in your budget and do the crediting only when necessary and it is really a must then go and have one, but to let you know so many have fallen into that kind of luxury,free spending trap. Just be very careful.

While it may be convenient, it is a good way to get in trouble fast. I know credit card companies in America start going after kids as soon as they graduate high school (sometimes even earlier). Most people don't know how to handle money so they get in trouble fast. There was a point in time where I applied for (and got) several credit cards and I wound up maxing them out in no time and wasn't able to make the payments. I won't apply for a card again and I doubt anyone would give me one again because of my past problems. I prefer to use a debit card because you can only spend what you have available. You might have to wait on making a purchase, but you don't have to worry about going into debt.

Yes, I have a credit card and use it for every possible transaction. We (my husband and I) charge groceries, gasoline, my cell phone, the electric bill, and even restaurant meals. We never pay interest on our charges because we pay each month's charges in full as soon as we get the statement. At the end of their fiscal year, Master Card even reimburses us a small percentage of what we've spent. I believe that not allowing college students to have a credit card is a good idea. Many are not mature enough to use one wisely. A debit card is a better idea for them.

i had one in the past and will never have one again. they are more trouble than they are worth. i would rather buy what i can afford and make do than run up a huge bill that i cant afford.

Yes, the credit-monster got me while I was in college (in America, in a college where people were expected to have money flowing to them). I didn't have money flowing to me, so I felt the curse of the debt the credit-card grows. Most don't feel that curse because they have adequately-paying jobs.

You are right. Credit card is just so common today here. The banks encourage you to have more credit cards. And they even give you nice gifts when you set up a new credit card. But today I don't want so many credit cards because it will be difficult to handle it. Especially I want to just consume by a main credit card so that the bank will give me nice gifts according to my amount. I like to use credit card and it is so convenient. I don't have to bring lots of money and it is dangerous. I love China

Credit cards are useful but ensure that you do not borrow more than you can afford to repay. I predict that within 10 years China will have all the social ills, including rampant credit driven consumerism. I hope not but proceed with caution when you reach the time that you can apply for a credit card.

Not right now

I don't have one and i don 't want to have one too~ I would rather choose debit card than credit card. Credit cars is a disaster for lower and middle class people. That is for sure.

I don't have a credit card and i don't prefer to have it for now. I don't say its bad having credit cards, there is nothing wrong having credit cards as long as you can afford to pay back the checks. Whether to go for a credit card or not, all depends not only on your credit worthiness and earning potential, but also to keep up with the regularity of clearing the credit card bills.

i dont have a credit card and i dont plan to won one. Having a credit card tempts you to buy a lot of things and I am afraid that will not be able to pay for it at the end of the month. Although having a credit card is nice because you wont be able to carry a big amount of cash, but then you will have to pay a lot of fees like late fees and etc.

Hi there, I totally cannot live without my Credit Card. I do lots of shopping online, so credit card is a must. It saves me lots of time and hassle to go to the store when i am in a rush. But i think you need to be age appropriate to hold a credit card. Students and kids should stay away from it because credit cards have all these daily limits and things which if exceeded bring lots of fines. But yes, Credit cards can be useful to people who hesitate to spend directly out of their accounts. But one should be careful about their spending habits if they hold a credit card!

Hi,mylotters...Today credit cards have become a part of every one's pocket.People are finding new ways to use them and find it comfortable carrying one card instead of carrying currency.In some situations we may find our selves with out a penny in the pocket,then in such situations it serves as a magic card to full fill our emergency needs like a medical emergency etc.,so,don't be forbidden... apply it now.

nope. we did but we havent used them for about two years. its much cheaper in the long run to just live on cash.

I choose to a debit card and then the money goes out of my bank account. I don't choose to have a credit card because interest rates are high. I like to stick to spending only what I can afford. When I wanted to buy a new patio door I got a credit card but didn't ever use it. I managed to afford to buy the patio door once I had saved up enough money. When I was at university I had a credit card and I kept it for a few years after I completed my studies. I used to buy things on my credit card and then pay the complete balance at the end of each month. That way I didn't have to pay interest. In my third year of teaching I did maternity contract and then booked a flight to New Zealand. I took my credit card with me and spent on it. I was away for a number of months. I had arranged a direct debit of money to go into paying for credit cared each month. I was having a delightful time and the money I spent on my credit card added up to loads more than I had imagined. When I got back home it was a shock to see how much I owed the credit card company. I got another teaching job and every month paid of some of the money owed. It took me ages to pay it all off. When I got to zero I was really happy again.

Hi, happyforever! I used to have a credit card 2 years ago and that last for only a year. I decided to cut my credit card line because I was not good in managing it. It's good to have one because you can use it during emergency but it is unwise to have one if your're not a good spender. Credit cards tempt you to buy on things below your means, particularly if you have a high credit limit. Credit card banks gives you a credit limit that is higher than your gross monthly income, usually 90-100% more. You can buy anything you want, as long as you have a credit balance on your account. Banks and other financial institutions use credit cards for backround/credit check for loan approval. You can also this plastic money to make purchases online. If you have a Visa card, you can use it to make purcahses even if you're out of your country.

Yes, I do have a credit card, but it's certainly not something that I like to use very often. I do when I have to, but it's not something I still try to on a regular basis. It's not something that I like to use often.

I may have given you an answer everyone has already but I cannot stress enough that you SHOULD NOT get a credit card even when you are able to. Credit cards are a false sense of having what is not there. It is a way of cheating you to overspend. When you use a credit card, you have to pay quickly or else the bank are more than happy to charge you interest that are so high, you will be rolling in debt in no time. If you have to spend overseas, a debit card will do and keep you on a reality track. Alway remember that if not much input goes in the bank, keep a close look out on what you spend.

I don't have a credit card. It may be a necessity for all, but it can be misutilised often. There is a chance to misutilise it for an unnecessary purchasing leading to growing debts. It is useful to those who act calculatedly in their day to day earnings.