Pros and Cons to having a Credit Card...

I used to own 2 credit cards. In the beginning, I was in control of my spending. But as months went buy, there had been the urge to buy things even if I really don't need them. So I started paying either past the due date or could barely pay the minimum amount. I got scared of being indebt so, I decided to give it all up. I think the wise thing would be is just to have cash so you could limit your spending.

bizness welcome to mylot. you are from USA where people use plastic cards - credit card and debit cards only. many people in usa have more than one credit card. If you have a credit card you can use it upto your monthly paying ability. stop at that point. every month you must settle your bill. otherwise they will add interest for the outstandings at a higher rate. the problem in usa was people borrowed their three months salary thro credit card and could not repay and landed in problems. take care about that only.

I think credit card has more advantages than the disadvantages. First, it is very convenient. I don't have to bring a lot of cash and everything can be done. Second, it is safe. Today the crimes is increasing and I am afraid to be robbed if I have a lot of cash with me. Third, my bank will give me some gifts according to my purchase amount. Fourth, I use the credit card to pay when I go shopping online. As long as I can return the money before it charges me interest, it will be fine. If you don't use it in a wrong way, credit card is an ideal payment method.

The first thing that comes to mind is why do you want a credit card? To bulid your credit or to take care of up coming expenses with the hoildays right around the corner.. Next do you have a regular income that comes in every month that covers all of your bill and then some?? There usually is a monthly payment regardless of the amount of purchases to make each month.. And if your card is totally paid of there is usually a service charge every month.. So there will be a bill every month.. Are you a planner or are you impulsive? When you are shopping can you stick to your list and your budget or do you find yourself over spending quite often?? It depends on how much self control you have.. Credit cards are a good way to boost your credit.. But if you are an impulsive spender get rid of the idea.. Credit cards are nothing but trouble..

Credit card is good as long as you use it wisely. Stay away from it if you can't keep your purchases on check.

If you are able to pay it off every month and can use it responsibly, it is a great way to build good credit and even receive rewards (gift cards and cash back) for spending money! Make sure that you know your credit limit and don't come even close to reaching it. Using more than half of your available credit line consistently can lower your credit score. Make sure you pay on time, as late payments can also lower your score (and cause you to pay interest). Read the fine print and ask your banker questions.

it's both. it's good to have one that you can use in situations where money is not enough to buy something that is urgently needed, or where cash is not available and there is something that needs to be paid, or bought. it is something one should stay away from because it can lure anybody to heavy and unnecessary spending. all in all, it boils down to responsible buying. why need one when you have cash to spend?

I don't think that there is a uniform right or wrong answer to this question. Instead, I think that the right answer to the question that you've posted here is something that really does depend on the person that is thinking about getting credit card. For individuals that are trying to build up a good credit history, then it is very important that they have a credit card. However, these people should not depend on the credit cards and should pay them off each and every month. For individuals that are simply looking for a way to support their spending habits then I believe that having a credit card is not a good idea.

Maybe that is something I should stay away from. I had many credit cards before, and I had spent them recklessly without planning on a healthy financial future of my own. Now, I still owe some debt to the credit cards, and the interest just keep on accumulating. Now, the credit cards sending out the attractive promotion again, and I already applied several of them again (I did cancel of the old ones). Recently I just spent a lot of money again, maybe that is something we should learn to control.

Hi, In my experience, credit cards are good if one has a secure source of income, big income at that. It is like having an ATM or debit card, the advantage is that a person doesn't have to carry money in a sack to bring it across that river to purchase something, subject to thief or holdup. When credit runs out, or when the bank charges more than what is being earned, then the headache begins. It is much better to take that money sack once again even if it contains only a few dollars.

Well it is a good idea if you used it properly and responsibly.Using it in purchasing things that you could pay so won't get charge if you are just paying the minimum instead of the current due.Used it in case of emergency and not for just luxury and you just want a particular thing.

If you are mature, responsible, and have good money-management skills, a credit card is an excellent way to develop those qualities and build good credit. You should have set rules for your credit card use. And not give into temptation. Remember, "with great power comes great responsibility." It can be a wonderful thing, but only if you can take on the responsibility and any possible consequences. Do not get yourself into trouble with it, which is very easy to do. If you are not ready for that responsibility, don't stress yourself with it. A lot of financial experts will say don't even bother with one at all. Which is smart, really. But it's up to you. How responsible are you?

I don't need a credit card,every little consumption.In addition to credit Cary with the clause of Xiang Yu the conqueror,let me more not to use.

I believe you should have a credit card specially with all the online activities these days. However, it surely has a negative side. It is a psychological issue. Using credit card is easier then using cash and it makes you spend more. You always feel that you will be able to afford it and pay it latter and then the interest starts accumulating. So you have to have some control. It is like everything in life it has its beauty but the excessive use will ruin it

I have had credit cards. In the situation I am in now they are not good. It is handy to have one, but I plan to stick to the pre paid versions in the future, or just use a debit card.

I think it's a good idea. Many credit cards offer some type of rewards so using a credit card for day to day expenses can help you earn money on things that you were already going to buy anyways. It may be dangerous it have a card to borrow money on so yes, there's pros and cons to credit card and people have to decide for themselves if it's good idea for them to have one.

The only good thing about a credit card to me is if you do not abuse it and pay it off asap it will help your credit rating... Do I have one? No I have none. I will never get another one again. Not unless I have to get one to help purchase a home or something. There will be no balance each month. Interest is just to high a price to pay in my opinion.