Credit cards - A boon or a bane ?

Credit cards can give you established lines of credit which can help you to buy things in the future like a house or car, but high credit balances can also hurt you because you end up paying THOUSANDS in interest and your credit score can be affected negatively. It's really about self education and how to use them properly and to their fullest potential in your favor.

Credit cards can be a boon or a bane depnding on how you use them. For us its a boon, my hubby has a rule..when we go on trips we use a credit card, and no matter how much is spent, till its paid off we aren't going on another trip or any other major expenditure. We are able to pay off our debts very quickly and in no time we are off on another trip..hehe! This wasy at any given point of time we are almost debtless.:)

Credit can be good but using them as money is bad. If you have a credit card with a low interest then there really isnt much to worry about.

i think credit cards are a boon rather than a bane............. its good tht you owe one or more than one credit card unless u have the money to settle the bills later........... therez nothing bad about having more than one credit cards in my view...........

i like visa cards

it is a boon, until you have the enough money to settle your bills. otherwise, it will be a big bane for you. It certainly helps to sort out your finacial worries atleast for a month or so.

a bone

Its depends on how you use it.Do we really need to have more than one card?Is it really necessary that we have a credit card at all.My dad still suffer from the debts,not that I blame the credit card,but to have one is just tempting to buy anything even if we dont need it.

I have no idea about credit cards because i have not even one to say you it is a boon or not.But upto my outer knoledge it is really helpful one to all.

well i think that credit cards are boon as well as bane also because it helps you in the time when you are in need of money and you dont have any cash...but when it comes to the payment for using the credit cards they charge such high amounts which are quite hard to pay....

We have no credit cards and therefore we have no credit card debt. It is so nice not to have any credit card debt when buying a house or a car, etc. Its a great freedom. We had one card for emergencies but we dont put anything on it. Thanks for the topic!

I Think credit card is a boon.Because you don't need to bring a lot of cash and having a credit card it is also means that the bank trust you and issue this card to you.If you can manage your finance properly,no late payment,you can enjoy their points,bonuses,lots of stuff that you can do with your card. Is all about self control.

I belive there is no harm having more than one cards, as long as you are using it right way. I have 5 cards and find them very helpful during crisis.

credit card is very convenient and can also save you,a convenient way to pay for your purchases, if you have the discipline to stay within your budget.you need not carry a cash, but keep record of the important documents especially those monthly billing and bank statement. this is the only proof that you settle your account , a proof that you have made payments,credit card can help you if you used it at the right time. do not spend it only for your wants but only for emergencies, for example in health emergency, if you do not have a health insurance, the hospital will accepted much faster, if your credit card is valid. Get a credit card only if you're sure that you have discipline to use this card, or if you are within your strict budget or in case of emergencies.

i feel credit card is a bane in life

As long as a person can use it safely and securely it is a boon and after that it becomes a curse.It has provide a good means to carry money when there is no actual money in pocket..also provided a easy way to get money at any time and any where.But the negative part of that should also be mentioned.We should carefully handle the credit card and should not give it to any unknown people as they do such common mistakes on petrolpump.We should not exchabge the secret pin with childrens as they fall easy prey to strangers. So we can call credit card as boon or bane in the way a person takes cares his own credit card.

Credit cards are a bane for the most part. They are expensive and their fees are ridiculous. But unfortunately, you need one to rent a car or book a hotel. And for that one is enough. Use it for that and emergencies they are great. Low fee ones like Discover and Capital One are cool to have. But the rest, like department stores and the like, it's quicker to flush your money down the toilet. Get into trouble and they are merciless. Over 60 million folks got credit card debt and are in financial trouble.

I think creidt cards are a boon rather than a bane..i mean what could be more compact and sleek than plastic money? no hassles of them notes, that change, just a card which u can smartly use and pay your bills later..credit cards should be made more popular as nothing can be as convenient as credit/debit cards!!

It is like heavon for the people who use it properaly

I have to be anti credit cards, i got into some much debt i had to go bankrupt in the end. When i first started with credit cards i thought i could control my spending, i soon realised that i couldn't conrtol it. So itook a loan out to pay off the first 2, then was out of work and could not pay the loan. Next thing i knew was i'd got another card and it just kept on snowballing until i had to go bankrupt. I have to say they ruined my life. Please anyone thinking of getting one please really think about it before you do.