New credit card for Christmas - It's not free money folks!

I understand your attitude on Christmas spending. A credit card can sometimes make people think they have more money than they do. The holidays are a time when people like to spend. It is tradition and a mindset. A credit card does not make it easy to discipline yourself if you are irresponsible. The attitude some people take toward finances is influenced by status. I really don't care about what people think about what I have or don't have. I get tempted by wonderful items, then I think about my budget. If I can't manage my finances, what can I give myself? Nothing. I can't live that way.

Excellent excellent topic. I'm glad to see someone post something like this, and you're the perfect person since you work in this field. I have one credit card that I've had since 2006, and I honestly regret the day that I decided to get it. I just think about all of the money that I've had to pay back from using it, and how that money could have went to other things. I hardly use it now, but you're right. A credit card is not free money at all, and if mismanaged, they can cause a person a lifetime of pain and anguish.

Well said. I couldn't agree more. Credit cards have got more people into trouble than anything else. Somehow it doesn't seem like real money when one shops with a credit card, so it's easy to overspend, thinking "just make the payments later." People don't stop to think that those payments are real money that they are using now for other things and it won't be available for those other things (food? rent? clothing?) then what will they do? Of course credit cards can be used responsibly and they have their place. It's just that so many don't seem to understand that.

It's surprising to me too that some people don't realize it was borrowing money when they use a credit card. When I read about credit card advice, the experts say that you should be careful not to buy things and charge it on your card if you can't afford it. It was funny, I thought it was common sense. I guess it's dangerous to have some available money to borrow right in your wallet. Yes, we should all be careful with or expenses.

I am with you on this. The concept is fairly easy to understand and even children can understand the concept of credit cards. For me, i don't like to have a debts, so i will not get a credit card because i will think about it in my minds until i pay it off. Some people just use the money and never think of paying it back, that's just ridiculous, just like when they borrow money from their friends and thinking that the friend will forget about it and they never have to pay it back.

Yes you are right,and I also want to add something,it is,credit cards are not free money,you have to pay the money back and plus the interest. So credit card is a really dangerous stuff,when you buy something you will not realise that you had lose some of you money then when you get the payment letter from the bank you will find out that,WOW,home come I spent so much money? So pls be cautious to your credit cards.

This is the main reason why I don't own a credit card. Other people think that having one means they'll be able to maximize their resources. Little do they know that a credit card is like a license for you to go into debt. Imagine buying things you really cannot afford. If you have a small income, imagine that your income will just go to the interest rates that you need to pay on your card. I have a brother whose life became miserable because of a credit card. He works in a bank, so it was quite easy for him to get a card. And not just one card. At first, it was great because he was able to buy nice things for himself. But towards the end, what happened is that whatever he earns from his salary goes straight to the payment of his cards. And what's worse is that it became a cycle because once he is able to pay, since he has no money left from his salary he will use the card again. So it was like slaving for the card.

this is a very good advice. In fact, an honest to goodness advice for everyone who is considering of getting a credit card because of the offers and promotions by banks and other financial institutions. i admire your assessment that money spent through credit card is not free. the credit cards will even put more financial burden if we do not know how to use them well.

It amazing me to when people do that! If it not paying the money on a credit card back, people are appauled that they charged interest on credit cards! It like people have no common sense! No common sense what so ever! If you can't afford to buy people presents,then don't buy any! Alot of people,wether it family or friends,will understand. If they can't they are selfish,greedy and not true friends! I went through this with my family and they totally understood about this! I have some neices and nephews who I give presents to. They only get $5.00 each. That money mostly goes inot a college fund which each one has. So I spend $25.00 on them! At work we exchange names for Christmas. I only spend $15.00 to $20.00 on my gift for my person! As you can tell I don't break the bank! I just more people would do the same! I think to many people are spoiling their kids rotten and in some cases buying presents for people that will hate their presents! This is not what Christmas is suppose to be about but it has! It makes me angry and sad! With credit cards I have learnt the hard way! They are to easy to get and to easy to abuse! I have three. One I abused badly. I canceled it and am paying it off slowly. Another one I had for emergancies. I had to use it in the spring to fix my car and now I don't have much availible if something else happens! The third card I use to buy gasoline at Kwik Trips. I regret getting that one! I can use it to buy not just gas but also food,water,milk,soda and other things! Plus interest gets put on very month! Screwed myself on that one,big time! Anyway I have learned it is a better idea to not get a credit card save up for what you want to buy! Plain ans simple!

Yes...I agree with you...I think the essence of Christmas is not only giving...it is also caring for your own finances.

I agree with you . The problem with people with credit card is that they tend to buy things they don't need with money they don't have.