" The Pros and Cons of having a Credit Card"

There are no pros and cons. All depends on financial control. Total spending cash, debit card or credit card, must be regarded as cash spent.

Me and my husband have two credit cards. One we are currently paying off that is strictly for our car only when it needs to serviced and the other one is our paypal credit card that we have been using because I've been in the hospital and my husband has taken unpaid time off because they will not give him paid time off since he couldn't request 2 weeks off. So we have been using it for food and gas only. Family has given us some money because of this situation it was unplanned of course. It's good for credit but you should always pay it off as fast as you can. I keep a close eye on both credit cards because at any moment I can pull them up and see how much we have used on it and how much we owe and I make sure my husband doesn't use the either cards with out me know it. We only use them in case of an really need like me being in the hospital for preterm labor so didn't think that was going to happen and after paying rent out of our own pocket we have nothing left.

For me it is very important to own a credit card, although I use it and pay it the same month. But it is the best way of carrying money while traveling with no fear of being robbed.

Credit card is really a great help for me. But there was just once instance that I regret, that when I lend my credit card to an office mate and now I am facing a lot of problem because of that. but anyway, I hope I could settle all my problems associated with this.

I was once a big fan of credit cards. And, I have misused and abused it, that I regret so much. I've spent more than a year trying to clean up my debts, and I only enjoyed a small portion of my monthly salary, because the bigger bulk of it goes to credit card bills. Like you mentioned, its major advantage is that you can use it for emergency cases, when you don't have cash. It was very useful for me, when my mother got hospitalized, and she doesn't have medical insurance. I was able to pay the hospital bills and buy medicines for her. The disadvantage is the exuberant finance charges that could even be more than the amount that you actually used, if you don't pay it regularly.

First thing to remember when using a credit card is to have the discipline to not overspend within your means. Like if you're salary a month is $500, try to stay within that range and don't overspend. Second, try to pay the balance before the due date or before your cut-off date so you won't have to pay for any interest. I rarely use a credit card. I just make sure that I have extra cash with me and I have health insurance for emergency illnesses. I usually just use a credit card when I want to buy an appliance and I want to pay for it on an installment basis without paying for an interest.

prashu yes they can be very helpful bu t now I have only a debit card as I lost all control with three store cards and got into large financial over my sears card. I had to have help from a company that got two stores to cut the interest rates way down so I got them paid off, but the large bill was Sears and could mot get them to lower their interest. I paid and paid and still the principal was not touched.so I stopped, it is now out of use as its b een ten years b ut I will never use another credit card as its too easy to get in over ones head.

hi prashu, i have a debit card since 3 years,recently one of my son given one add on card to me and after that i have obtained a credit card,mostly i am not use both of the cards,when ever i go for shopping for groceries,then only i will those cards,credit card is for emergency purpose,most of the people are misuse it and fail to pay the instalments,but i do not like that,have a nice day.

hello, yes you have the right idea of how to use it Prashu, it helps when there's not a lot of options available.

Credit Cards are great if used properly and you pay off the balance each month. If not they can be a nightmare and the interest compounds very quickly. I like having a credit card to use so I don't have to always have cash but I am very careful with it. Unfortunately, I learned that the hard way a while back when I overspent. One of the lessons of life I guess.

I do not have credit card do you have it?