Finance

I once had a credit card and i can say that one of the benefits you can get from it... is that in times that you are short of money you can easily use it and have what you want to buy. If in due date you can pay it all for once it would be better so to avoid extra charges and fees. In terms of the disadvantges, you may tend to over spend since credit cards are handy and the credit limit is just there waiting for you to be spent. And if you have the tendency of impulse buying, you might buy things which are not necessary, luxurious and expensive. and sometimes the worst things to happen... you can not pay it on due time since you have no budget for it. In return, you will pay it on installment and finance charges and other fees will pile up until you can not pay it anymore and the collecting agent (who are ussually or if not mostly very unrespectful and rude) will call you demanding from you the payment and harrassing you over the phone and might even tell your other friends or officemate of the your incapacity to pay which is a very embarrasing situation. Moreover, demand letters will also be delivered to you stating the deadline for you to pay or else they will file case againt you. In addition, going to the bank to pay your bills is a very incovenient and time consuming task. Currently i have no credit card, but what i use it my debit card, it is where may money and/or salary is being deposited. What i have is what i spend !! Having a credit card entails responsibility and it will be up to you to decide of what you want to do with it. Good luck! I just hope i did help you.

I think that credit cards are financially-dangerous things. In a nutshell, you are spending money that you do not have. Sure, it may provide an immediate fix where your needs - or your wants, for that matter - are concerned; but if you do not pay it off within the required time, you will find the interest to be debilitating. You will not only be back to square one - not having the money - but you will also be worse off. Debit cards are the way to go, in my opinion. Not only are you spending your own money - without the sunbstatntial interest rates - you are also afforded the convenience of using a debit card in the same situations that you would be using a credit card.

A credit card is a great thing. You can get one that will pay you cash back on every purchase. If you pay the total balance every month there are no charges. That's free money in my book. The down side to credit cards comes when people enjoy the ease of buying things with them that they forget they do have to pay the bill. Further,high interest rate charges make credit card debt a very very bad choice. Pay them off every month, get the cash back and you are great! Anything else and you are better off not having them.

The good thing is you can take care of your immediate needs. The hard part is paying it back. If you cannot pay the full amount you will have to make monthly payments. That means that every month you are going to have to send the creditor money. It doesn't matter how much it is. It is money that takes away the amount you have available for other bills, Plus, they add interest each month on the balance. I prefer to pay the entire bill atone time.