What are the Positive and Negative effects of having a Credit Card?

Positive - Very useful in need of emergency. When you suddenly come across something which captures your heart and you feel like you ought to have it but you dont have enough cash then a credit card comes to your rescue like an angle. Negative - "Temptation.... ha ha.... I you are a frequent card user, you get easily tempted into buying things which you can live without but still buy them simply cause you can afford them.... lol Stop looking at it... it aint any use to you, you Shopaholic... !!!!

Welcome to Mylot Moonlight! If your sister is financially responsible, i dont think she would have a problem with having a credit card.

the positive side is we can easily withdraw money or make transasction.. but the negative side for me is too much..we forgot that actually our real money is not much, but with the CC in our hand we prefer to buy and shopping than think that the goods maybe is not important for us...

good thing to have credit card is it can help you in case of emergency situation like for grocery or medicine and for cash if your out of cash though you must be in cotrol to it and not to let the card control you. it means use only the card if in badly needed like the things i mentioned above so the balance will not go up and you can always paid off your account without having to much interest. bad thing to have credit card: you cant stop using it specially if your in the mall and you will see those iem thats very tempting and since you didnt carry cash then its easy for you to just use the cardeven during dining and all stuff that accept credit card. even online you cant resist it from using. another bad thing for credit card is it will put you in big debt to the point that all of your salary will just go to the card payment and not realizing that your just paying the interest specially if your just paying the monthly min due and not trying to make big payment every month as the bal will keep on getting higher and so the interest do.

Having a credit card is important and useful. It's great to use for emergencies, and it helps build your credit score (if you pay your bills on time). All your sister has to do is be sure not to run the bill up too high, and pay more than just the minimum balance. Also, she should get a card that doesn't have a high interest rate, unless she plans on paying the entire balance every month.

Credit Cards have many benefits but are also enabling. When it comes to positives you never have to worry about transaction debit fees, all of your spending is organized on one account, and you raise your credit score each successful month you pay the full/minimum balance. Credit cards can also come with special promotions such as percentage cash back, discounts or other cool incentives. On a more serious and negative manner, misuse of credit cards can lead to lowering of your credit score; which can be detrimental to your financial health. It is much easier to swipe plastic than it is to spend greenbacks; credit cards are very enabling. They normally come with a mid to relatively high interest rate, meaning you are paying more for your money than it is actually worth. I have had multiple credit cards and besides my gas card I see no point in them. If you have the finances and can pay the balance off every month, by all means. American Express is the best in terms of rewards.