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i am studying in college, i was really excited to get my first credit card ;). i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.

though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.

at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.

before i knew it, my credit card balance had  blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.

it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.

the lesson that i learned here is that credit cards can be a valuable tool for building credit points/scores and making purchases, but they should be used responsibly and with caution. it is important to keep track of your spending(like keeping a journal), pay off the balance in full, each month if possible, and avoid carrying a balance that will increase interest over time. by being mindful of your credit card usage, you can avoid debt and maintain your financial health.

i am weak at economy, is it wise decision to use credit card?

I don't like buying things on credit so I have always avoided applying for credit cards. If you want to live a financially free life, you should avoid debt. The scariest part of these credit facilities is the interests. I don't want to be indebted at an old age that will make me keep working till death. I think I should have the opportunity to retire peacefully and debt free after my children have left home. That is why I only buy what I need and not what I want so that I can stay debt free and have extra money to invest
.
It's not bad to have credit cards but you should have the ability to control your expenses. Credit cards could be helpful especially if you have spent part or all of your income on investment or something important. You need it to keep life going. But it shouldn't be used to buy things that are not basic.

Whatever that has advantage also has a disadvantages as well, using credit card is not bad but it all depends on how you used it that will matter in this scenario so you must learned to living within your income that comes within the month. To me i don't really buy the idea of using it because it may leads to uncontrollable spending since you had the mind of paying it back from your monthly salary or from any incomes that gets to your bank account. If you don't finds it favorable you may abandon it or possibly sets some limitation on the amount that could be totally spent within the period of a month, let say your income is $1k for the whole month always set a limitation of $300 that could be totally spent after which they may deny you access to spend from the card.

I feel that credit card are kind of a trap for banks to profit off our effort.
I have talked to people how live in the United States and they agree that credit is a new kind of slavery, which of course depends on the context and personal situation of each person.

I would never use a credit card for big purchases, it would be preferable just to use it for small things like you did initially, nothing beyond 20$ per moth. In case of emergencies, instead using a credit card, it is better to go for a collateral-loan so one can get lower interest, that is another reason one is supposed to have gold, silver, Bitcoin or whatever, it can be used as collateral in other cases.


Have any of you checked the interests of loans backed by Bitcoin, there are quite competitive.  :)
Also, the fact one is giving BTC as collateral encourage us to be more careful with credit and money management.

There are actually good things to benefit from owning and using a credit card but since I don't have it, I just look at those people that were saying that they're enjoying truly those benefits like in flights, accommodations, hotels and etc.

Banks have offered me credit card but I just don't want to have that thought that I can spend money that's not yet mine and I have to pay back in interest.

If you are for increasing your credit points, you do you. But honestly for me, I wouldn't take anything from a credit card company or even take loans.

As you've experienced, it's mentally draining and will affect you emotionally when you are about to think of it.

Actually, credit cards can indeed make it easier and can. But on condition, we have the ability to pay and use wisely and we also have to know our limits, and we are disciplined in paying. If you can't, then don't expect much that a credit card will make it easier, what is there is even more difficult.
if income is only mediocre, it's better not to use a credit card, and credit cards only make it easier but also a trap that we indirectly borrow to buy what we want and have to pay it every month with interest.

If you have the ability to control your spending then you can use a credit card,but if you are the type that when you have access to whatever means of payment,you get carried away without considering if the interest is pilling up. You should avoid credit cards because they are tempting and can turn you to a slave even at old age.

Accumulation of interest on credit,is what makes me stay away from it. There can be a solution to a particular financial problem without using your credit card but just because we have access to credit,that is why we feel it is the best option.

you are lucky to have income while you are in college. you are earning, could have used your cash instead than using a credit card.  
everyone knows how high the interest is with credit cards and its addicting to use when you can get everything you want with just cards.

credit card companies are relentless in calling everyone on their database with debts, you sure will be hearing from them soon. if their bank and company is going to be one who would also collapse in the coming months due to the works of the FED, you're in luck still.  8)

The first thing to understand is that a credit card is a ticking time bomb. If there is no permanent source of income and you will only use the card, you will have debts, this is 100% To avoid this, setting a spending limit from the card and systematically replenishing the balance will help.You need to understand that the bank wants you to get into debt and systematically pay them interest and spend their money.The card must be used wisely.

Credit card could serve great benefits to entrepreneurs who need money for untimely runs and feedback because, the hope of making profits to payback is sure.
For an individual however, I see the usage of credit card as a waste of resources unless one has a business that make money daily to cover the cost is of a credit card.
I have tried applying for credit cards severally but to no avail, the banks has grown accustomed to debiting we the customers rather than securing financial security for its customers alike.
Unless one has a steady source of income, is disciplined enough to spend wisely and understand how credit affects financial growth, I see no reason why it should be abused or used if alternatives exist.

The lesson that you are supposed to be absorbing is that anything if used in excess will lead to problems. The way you use the card is wrong and not every use is wrong.
These cards are designed to make profits from every solution they offer, and for this reason, the system is not programmed to set a spending limit according to the financial situation of each person who will use them. And when you make random purchases, neither the card nor the bank that handed it to you bears responsibility for those decisions. It is better to completely stop using it and ask the bank to freeze it so that you can pay off all debts on it. Also, all banks provide a feature to set a limit for spending on cards, this will help you to use the card more wisely in the future.

Yeah, using a credit card can be tricky, especially for young people like OP (most of whom haven't accumulated enough funds for big purchases). On the other hand, it's a great lesson of financial discipline. If you'll pass this test - consider yourself ready for independent life. 8)

That's why even rich people still use their credit card to any purchase for their credits to increase. Not only they afford to pay the debt incase they used the credits, but also they know how it works so they can circulate the money without losing funds. Well in my case, I have a good credit since whenever I'm buying something I always use my card like to groceries, bills and shopping. Then I decided to buy iPhone for me as a payoff to my hard work, that's the time I used my credit card and I didn't even used any money that day. Of course it will be deducted to your monthly salary but it's amazing that you could bought something that pricey without using fiat money. Therefore I think it's not applicable to people who doesn't afford to budget their income plus the debt incase they use credit card, it will only benefit the banks as they increase the interest of your loans.

Let me ask you:

 I have a compulsive gambling is it okay to bet 1 dollar on a weekly lottery ticket?

The answer for me would be no.

The answer for you is very likely no for at least six months until you pay the card off.

Maybe it is okay after six months and you won't tap it out again.

Well, you have answered most of the vital points on whether or not getting a credit card is a good decision. Not only you that have experienced struggling in using their credit card properly, especially those who have just got approved by the bank.
One thing that we must understand is that, those credit scores are also a trap, because it will make you think that you need to make a credit to increase your credit limit as much as possible in a short period of time.
Good for you that you have learned a valuable lesson regarding the proper usage of credit cards at the early stage of your life.

I cannot speak for everyone else, but I really hate credit, so while I received some offers for a credit card, I refused all of them. My bank would still contact me every now and then convincing me to grab their limited offer for a credit card that doesn't ask for any requirement and that doesn't charge any annual fee for life, but I remain decided not to get one. I never really liked credit cards as I hate debts. I transact in cash most of the time. But as an alternative option, I also have a debit card. Those are the most reasonable options for me.

And with the advent of digital banking, another option would be to pay through mobile apps.

I stick with debit cards for same reason. Only purchase a thing if there is enough balance in first place, doing thus keeps head free as well for you have nothing to keep track off.

No, it is not. The build up credit score thing is another hoax. Credit cards are the product most aggressively marketed by the industry because it is the one that benefits them the most. Starting with you when you are young, financial institutions hope to have you hooked on credit for life, ideally spending beyond your means and paying interest on late fees and the like.

My view is that whether you are wise or not in having a credit card is not the main thing because being able to say whether you are wise or not depends on how you use it, if you use it excessively so that your bills swell it's not because you have a credit card but because you are using something excessive function, if you use a credit card to taste like at the beginning of use there may not be financial swelling, like you use a vehicle even though it is beneficial for your activities easier and more efficient but you use it excessively it could just make you miserable if outside your limits, I think so is the credit card.

I think that's also their goal in terms of marketing, so that it's easier for us to spend our money, to be honest when using a credit card it's as if we don't feel like we're losing anything with our money even though at the end of the month it will be a disaster with bills piling up and we have to pay if not the interest will go crazy from what we use and can multiply so that we have difficulty paying interest, and that is what they sincerely hope that the circulation of money will be better in society so that it grows the economy but behind it will make us lulled by the convenience of cards credit and if we can't control ourselves then we are already in their trap.

Only if you are able to manage it.

But, if I read your thread, I really sure you can afford to manage your emotion to not buy something unimportant goods. So far, I used Credit about 3 years from now, and i admit 1st time used it, I almost can't control to do not buy goods when I see it was good, and proper to have it, but when I aware about bill, I will lock up.

And, 1 more important thing if used credit card is scammer. don't trust anyone get called you from bank and ask you to mention card number and cvv, I really sure you will get scam, the scammer try to steal your limited balance to buying goods on e-commerce.

I have also used a credit card, but my main goal was to have a good name at the bank, so that if one day I need a bank loan for business capital it will be more facilitated. so every month I buy things that are needed just to be active, and every month I always pay in full every bill. because you need to know that credit cards have high interest, but there are also many supermarkets that provide special discounts for credit card users, so we can take advantage of them

There is a concept regarding this called friction, which is that people tend to spend less at higher friction.

The greatest friction is with cash.
Then there are the debit cards
And then credit cards.

Using credit cards people spend 50% or more than using cash. This is something that the big companies that decades ago were reluctant to accept card payments have well studied, and what they do is to facilitate payments as much as possible with a minimum of friction so that people pay more. Amazon is another example of facilitating payments with minimal friction. Paying with your mobile or smartwatch also means less friction than having to take your card out of your wallet.

In the end, paying with credit cards, as you say, you don't even realize it, you don't feel it, but the problem comes at the end of the month with the bill and many people end up deferring payments and paying high interest rates, which is what the credit card companies are interested in.

Credit cards, folks, they're the fast track to a financial train wreck, right? You snag your first one, and suddenly, you're a high-roller. Cha-ching! Swiping like there's no tomorrow, oblivious to the fallout. And, BAM! You're up to your neck in debt, barely scraping by on minimum payments.

But damn! You can still rock credit cards and dodge that monetary migraine. It's all about staying savvy and accountable. Jot down those expenses, wipe out the balance monthly if you can swing it, and dodge lingering debt that'll slap on interest.

Oh, and let's not overlook the freebies! Credit cards can rake in points or cashback – ka-ching! Just don't blow more than you can clear monthly.

So, play it smart with credit cards, and you'll be grinning all the way to the bank!

Using credit cards is definitely dangerous thing. It gives you unnecessary amount of money as debt so you can use it. But its money that you do not own. So you may use excessive amount and create financial burden on your shoulders. But if we consider campaigns with credit cards, some of them are very very beneficial. You may opt into bonus programs that will return you a lot of money that you already spend. You may also use low credit opportunities through some credit card programs. All things considered, using credit cards can be good and must be done in limited times. I think even if its like %3-4 return, its still awesome.

oh! i was thinking that friction, swiping friction.

like we just swipe at machine and money get deducted easily. so people spend more  ;D
and amazon's friction is like this:- just tap a button of pay and the money get paid from your wallet. very less friction

I really don't understand how a credit card works. I mean, I lived in a 3rd world country, and those who have credit cards are only rich, and we poor people are not owning this one because it has high requirements. I know that you pay it later and that there is interest, but it doesn't make sense to me to pay it later if you can pay it now. like you are paying it at the end of the month with interest. I used my visa or debit card (not sure if that is what it was called but it swiped my card to something) to pay if I wanted to go cashless.

Your understanding of what is best for your budget speaks volumes about your actual maturity. A credit card allows you to feel like the owner of your life just up to the first interest charge, which will be charged without unnecessary regrets about the card owner's expenses. Someone above unsubscribed that using the card is not freedom at all but slavery, and this is rather the most correct definition of it. In addition, even if you use the card carefully, calculate your expenses, and maybe even not use it for a while, banks will still charge interest for having it. This only confirms additionally that banks will never do anything for the benefit of the client without personal gain.

I hope you learn your lesson from that. As long as you can handle your expenses properly, credit cards would be more beneficial to you rather than a threat. I am not really a fan of purchasing something if I can't really buy it. It is just not something that I would be able to handle properly since I got some other expenses to handle.
Knowing that I might need to pay something off without getting anything at the end of the month, let alone bills, is just something that I would not like to experience.

Since there are millions of people in our country who don't know how to use credit cards, it has a bad image. But credit card is a great thing if you know how to use it. You don't spend money that's not yours, you postpone your spending while the money that is already in your bank account continues to generate interest. Especially if you can make high installments, it's very profitable. Because the value of money decreases by 5% on average every month. In such an environment, there is nothing more logical than borrowing with Turkish Lira.
The rapid increase in credit card limits in recent years is a positive step. Make as many installments as you can. You have to protect yourself against high inflation.

People who do have credit cards and ending up on a disaster is something that do talks about mishandling of your expenses because if you are that someone who do really spend up tons without recognizing on whats

important and whats not then using up your credit cards into those means will surely be imposing some trouble later on.Honestly, i do have 5 credit cards from different banks which i do make use of them and converted all those balances into cash and making it use into investment.I could say that it is really worth it if you do know on how to take advantage considering that banks is really offering lesser
interest compared into those lending first which do offer those huge interest which i could say that it isnt really that just right for you to take up some loan.

It's not very hard to find and get a credit card. They can be useful, but you have to be very careful with them. You need to use it keeping in mind that the money you are spending "isn't yours". Using it for emergencies or small purchases you can pay off each month is a good way to use your card. Just don't go overboard with spending, and always track your expenses. I have seen people racking up their credit card bills because they never actually made a plan on how to repay the bank and ends up suffering. Make sure to pay off your bills in full each month, to avoid heavy interest. If you use it wisely, it can help build your credit score, which might help you in the future to secure loans for more important things. As long as you have good spending habits, you won't be in trouble for using your credit card. Just make sure to spend responsibly.

From my experience, it's better not to used that plastic, specially if you don't have control of yourself. Just like buying anything that you want just because you think that you can pay it later. But the interest though, it's going to kill you in the end.

Not sure though if you need to build credit, I mean how can you build credit if you used your cc and then not pay on time and been delayed? what credit score do you think you will get. Again, for me it's better to stay at it as long as you can. Because once you swipe it, and might be game over for you and for others too.

If you're the type that frequently make use of the credit card then this might be for you because you don't need many explanation on how to secure it for your private use, but when it comes through the other means whereby you got exposed to a third party person, then you go taking bridge against the means of securing the card from future attack that may cost you your financial asset anytime without a repentance.

Credit card companies has some policies for late payments and for those that are paying on time. Well, if you've got some savings and you can spend that well on your stuff then there's no need to own one.

Perks are mostly the ones being enjoyed by credit card owners and if you can't avail to pay annual fee and its interests, that sucks to think that you're free to swipe anytime and it's sort of a brag on how much is your credit limit. Well, keep the brag and I'll keep my mind in peace without having the need to pay all of those things in credit.

Avoid using credit cards, they just encourage mindless consumption, impulsive purchases and you have to pay very high interests each month, now in theory they could be useful in emergencies and the like, but as you have experimented yourself it is very hard to use them this way, in fact I will also argue against using debit cards, this is because it makes very easy for you to go over your budget this way, instead use cash as in this way you will be more careful with your purchases as spending money in this way feels more real for people and they are more reserved when it comes to the time to make a purchase.

Credit cards are meant to be used and really that helpful when you are really that in short of cash or something into that situation which it would really be that convenient if you do have these type of cards.
The only wrong thing on here is that users arent really that responsible on repaying on what they do owe or they have taken, considering that its been used then you are obliged to pay.
Interest isnt that much if you are a good payer which is something more worth than on taking up some loan into some people or lending firm. It is really just depending
on how good you are on handling your finances.

I've seen many people who got broke, and until now are still broke because of wrong use of Credit Card.

Since they got that card, they are shopping here, shopping there. Swipe here, swipe there. Buying things they just want because they thought that they have money, but they overspent, and now having a hard time paying their debt plus the expenses. Well, credit card being a double-edged sword can be prevented still if you are disciplined enough to not overspend. Don't buy the things that you don't need using credit card, and before using it, make sure that you can pay it within a certain amount of time, or don't use it. DISCIPLINE IS THE KEY.

I already put it in Caps Lock. Discipline is the key.
These are the problems those people who can't prevent themselves from overspending using their credit card are facing. They believe that they have free money thru their credit card, but that mindset is a mistake.

Good for you that you know how to budget.

Not all people know how to budget their expenses. I myself isn't good at budgeting my money, but the good thing is that, I'm frugal enough to at least save some money for emergency funds, and for investing. Currently, I'm not using credit card because I don't know where can I use it. Making tough choices is very essential for our life. Sometimes, we come to a point where we are thinking which is better between the 2, and deciding to sacrifice something for the betterment of the other. In your case, cutting back your expenses, so you can pay your debt is a good choice. Debt over everything.

It depends on the person who has credit card.

It's wise for a person who only uses credit card to buy the things they need, and don't overspending on it. On the other hand, it isn't wise for the people who are using it to buy the things that they want. There are some saying that you should avoid using or having credit card, but why? I mean I can have a credit card if I wanted to since I know that I'm disciplined enough to know when to use it or not. It all comes to the person who has it, and not the credit card itself.

I get wanting a credit card, but be wise about it, homie. Credit cards might help you build credit and buy what you need, but they can also make you broke. My advice? Limit yourself monthly and don't exceed it. Use cash instead of plastic at the club or movie with your partner to avoid getting crazy. Don't forget to pay off the debt each month to avoid a big bill. Keep track of your expenditures and secure your finances. That will get you living your best life quickly

Before applying for a credit card, you should familiarize yourself with the agreement that the bank gives you to sign. Many are too lazy to read it in its entirety, because as a rule these contracts are very large and there are a lot of points written in small print. But we are talking about your money, then you still have to face the fact that you will read this agreement and look for why your bank withdraws money from your card.

Different banks have different conditions, there are those that do not charge a commission when you do not use the card, there are even those that allow you to use credit money for a period without commissions, but to know this you need to read the contract.

While owning and using credit cards would definitely have some advantages, the disadvantages far exceed the benefits of having and using them. That’s my opinion.

Unlike debit cards, with credit cards, you are spending money you do not yet own nor have in your account therefore the user is literally borrowing money from the bank to pay at a later date. And the banks in most cases, always collects what it’s owed.

I think using a credit card gives the user a false sense of security as the holder could purchase whatever items at a whim without having to worry about paying at that time. That quickly fades off and reality sets in when you’re neck deep in credit card debts.

It depends on your attitude and how are you using it. Technically you should avoid using it but if you are keeping track of your budged and you have a solid payback plan, there's no harm using it as sort of buffer money. Better way would be that you had savings as a buffer money as you can get to all sorts of trouble depending how good you are with your money.

I would say that most people don't need credit card and most of those who want it want it for wrong reasons. Future can get pretty dark if you are spending faster then you are earning.

It's common than what other people think. I am quite amazed to those who are able to handle the tempt to buy things that they don't even need. People mentioned various things that could be beneficial from it such as being able to get a house with mortgage easily due assuming you have a good credit score. I ain't taking the risk though.

5 credit cards? Damn, I salute you on that.

Well a friend of mine long time ago that I accompany before kinda did that. It backfired on him, lol.

I agree that credit card has its own advantages and disadvantages. But, I think it boils down to the person using it whether they are responsible enough to pay. Also, building credit is also important in today if you are planning to have your business. A good credit score would make you be able to loan money that you can use to start a business. Another is that you should know how to maximize the perks of using it since there are many promos and cashbacks that you can take when using credit card. So, all in all, I think it really depends on how responsible you are as a person to know your limit and also be responsible in paying it.

Credit card makes things easier in the sense that it makes you buy things according to your budget
Most people are not good in keeping cash as a result of carelessness because of the kind of job they do that takes your attention mostly I know of a man that always complain of his missing money after asking him where he kept it he will say he kept it where he normally keeps money this has been happening only to realize he has been misplacing his money and it was not stolen
In the western world where card is  usually used there will no much result of losing money or fake currency

First I am very surprised how you feel having a credit card gives you any form of independence and helps you get anything you want? Really they aren’t helping you get anything.

Credit card is a financial slavery if you ask me. Having money to spend at your finger tips that would still be required of you to refund is dangerous and many times can be misused. I have never made use of any card that gives me funds that isn’t already In my account.

It depends. You have to weight on each transaction what is more worthful: to pay with your debt card having access to a sweet discount or to pay with your credit card acquiring points that can be redeemed later for more purchases and rewards. Sometimes it will be more interesting to use a credit card, especially nowadays with so many advantages and promotions for its customers.

However, if we are talking about someone who can't manage his expenses properly, I would say credit cards are a big no and should be totally discouraged, because it's going to become a snowball of debt after a while... A hint I can give is that always you open your bank account, you immediately subtract the next credit card's bill amount from your total balance. That will be the real sum of amount you have to spend, and nothing else.

I wouldn't say credit scores are a hoax. I don't think most people need to rely on credit cards for monthly purchases -- but loans for larger purchases are almost always necessary at some point in peoples' lives. Credit score becomes important in that regard.

To your point -- all credit card companies make their money off of late fees and interest. If people aren't responsible to limit their purchases to within their means, a credit card isn't worth it.

You definitely should avoid credit cards unless you're in good control of your finances and spending, because they are designed to be very expensive forms of debt if you don't use them correctly. They can be very useful to extend you credit, but you should only use them if you can pay the debt off every single month and not keep a rolling balance. Compared to loans they can often charge in excess of 20% per year, versus loans which you might be able to get in the 5-10% range. The people who use them sensibly are basically borrowing short term and paying it off without interest, the people who don't pay it off make these credit card companies vast amounts of profits.

actually credit cards are two sides of a knife, if used correctly and paying in full for every bill that comes, obviously this will have a good impact. but if each bill is only paid with a partial value, then you can be sure that the interest that occurs will be greater than the actual loan at the bank.
using it in the right way can be sure that a credit card is very helpful, because every transaction made in every transaction will be easier and more reliable than a debit card which is actually paid in cash (for example: hotels, transportation etc.) no authorization is required anymore because the credit card has been authorization through the issuing bank.

I do agree with you about two sides of blade credit card can be helpful if you can control it but also can be dangerous if you can't control it.

But personally, I need to stay away from credit when Im low on budget or at least I don't really need to buy useful things. So it is always good to use regular debit card with your own money than loan to someone else.

But recently CNBC made a video about - Why You Should Buy Everything With Credit Cards - https://www.youtube.com/watch?v=SnBu2_l_sZ0

Not everyone is able to use credit cards correctly, my mate used a credit card to buy expensive shoes for his wife as a sign of reconciliation, since they were in a quarrel, but later his salary was reduced and he could not repay this loan as he expected. As a result, he could not pay the loan on time and he began to accrue debts, this story dragged on for several years and cost him a very large amount, I don’t know if he still uses credit cards now.

I haven't used a credit card for almost 5 years, this is because now I don't want to be tempted by credit offers that mess up my finances, especially now that I'm at home a lot of time so a credit card isn't needed, just bring cash or an ATM and already make I'm comfortable.

Yes some credits are good as long as you can pay for it. I have a someone I knew that her addiction is to take out a loan, she even uses our name just for her to take a loan, and those sharks are invading our privacy. If money from credit or loans are being used to investment or to repay other credits then I think there's no wrong about it. Again, it is okay to have credit card as long as you can for it and you are a good credit payer.

Yes I actually hear this a lot and some of it becomes trouble. Friend of mine or family of mine had the same issue too one of them ask me to loan some money by using my name but I only help the closes friend and limited amount because it will be dangerous if person run away

A credit card is an effective way to purchase anything internationally even if you don't have any money of your own.  This means that when we buy something with a credit card, the bank lends us that money and it has to pay the money back to the bank at the time of instruction. But in this case we have many advantages but also disadvantages because if we can not return the money to the bank on time then the bank charges us high interest and what is the delay they take compound interest.

I don't think it's wise to use credit cards.  Because it takes loan from our bank  And if you fail to repay it on time, you have to pay a high amount of interest.  In this case I think it is better to use visa/master card instead of credit card as you can spend your personal money without being accountable to anyone or paying interest. Using credit card can increase our unnecessary expenses but when you go to spend your personal money through debit / visa / master card your unnecessary expenses can be reduced.

Habits like that in terms of making loans are certainly worrying, especially for yourself,
just imagine if it uses our name and they run away then what will be searched or billed is us,
what is clear is that things like that often happen so we need to be careful.

People who spend more than they should, paying high interest on credit cards I'm sure are tremendously profitable for companies. I can't find data on how many people defer payment with credit cards and it seems to me that it is not by chance, it seems to me that the companies for some very good reason for them don't want to make it public.

We live in a credit-addicted economy, just look at how states spend. So it is not so strange that many citizens do the same, what happens is that these citizens do not have the power of the printer that many states have and they put a noose around their necks.

You are lucky and you are free of your credit card debt. Because usually, others who have a credit card are irresponsible in using it, the end result is that they end up in debt and others take 3-5 years to pay off the debt.

That's fine in the beginning, but once you use the amount and start paying every month, you'll feel the ordeal of paying it. So it is better not to try to apply for a credit card if in doubt.

I have had bad experiences using credit cards to shop or buy stuff online, the charges and interest are killing me, and also they can turn to debit too. Today I don't use a credit card anymore since I found all this out, and now I used transfer for almost everything I want to purchase anything online and offline and if the store is accepting Bitcoin it's even better, I have used Bitcoin to buy some phone data and Gift card and I wish that I can buy many more things with Bitcoin someday but now it's limited to buying Gift cards and online subscription.

As long as a person can be responsible in using his credit card, he will have no trouble paying off his balance at the beginning of the month. But usually, if someone uses a credit card, he will think that he can definitely pay off the balance, making him spend on things he really doesn't need. In that case, he didn't think about how much he would have to pay later. It would be a problem if he didn't realize it because he could end up running into debts that he might not be able to pay.

You have realized your mistake and are trying to change it. That is a good step because you realize there is something wrong with using a credit card. This is a valuable experience for all of us. We must be truly responsible in using credit cards.

OP, NEVER USE YOUR CREDIT CARD FOR "SMALL PURCHASES", ESPECIALLY FOR UNIMPORTANT PURCHASES.

For emergencies yes, and for IMPORTANT large purchases for items/things that you truly need, like a laptop to use to be more productive and earn money, or an item that you can use to start a small business = definitely yes.

Not necessarily. I've been using a credit card since I was 20, in university, with a small credit limit though. I always paid the monthly bill on time and frequently used it for petrol, groceries, or even other purchases because I was receiving a small cashback each time. Now I have a proper credit card with a large limit that I used to buy my motorcycle in interest-free installments, on which I also received cashback. I'm using it almost everywhere to take advantage of it; it's not too much, but it's still better than nothing.

The trick with credit cards is to pay them always on time and to not fall into the trap of installment payments, buying things you don't need or can't afford and going into debt for several years in order to repay them.

As a student who has a credit card for me, it is one of the things that can be said to be a luxury, close to temptation in terms of spending on things that are not important. Of course that's cashless payment.

        The credit card is actually only good to use in emergencies and nothing else. Because if there is, for sure those are all unnecessary things even if they are small purchases, even those small purchases when you always do it, you don't realize that the things you bought are big and you will be surprised that you owe a lot.

If you are wise at spending and budgeting then it is wise to use credit card, especially during emergencies but if you are a compulsive buyer it will only be a temptation for you to buy even the things that you don't need. Credit card is still a debt and you have to make sure that you can pay your consumptions in time so you won't fall deeper into their pit of interest. Use it wisely and responsibly and not as a way to purchase things that you want that you can't afford to pay in cash.

I don't think credit card will add unnecessary cost to us because when one buys something using credit card he knows that he is in debt to the bank. so in this case he calculates and always reduces the unnecessary expenses and uses the money from the credit card only for the needs. And another advantage of credit card is that one can enjoy EMI facility by using it, in this case a person does not have to pay high price at once to purchase any high priced product or to accept any offer.  You can pay that desired amount for the last 6 months to 1 year. so I don't think using credit card is a bad decision

It is undeniable that credit cards will make it easier for us, but it's worth the risk, so you can say that in the end we owe too. I will avoid things that make it easier for us financially, I mean like this credit card. Usually the thing that makes us unable to control is because we feel comfortable with what is offered, and believe me when we are comfortable, we will forget ourselves and in the end we can no longer control the amount of credit card spending. Almost everyone will do what you experienced in the beginning. They will adjust and use the credit card as best they can, but over time they forget that they have to be able to control its use.

My father stopped using credit card when it took a toll into him that it is really hard to just pay it all back and clear all your credit records at the end. Good thing you learned your lesson from that it is not really for you. People have been reporting horror stories on how deep they went into their credit and they're struggling to make ends meet.

Your experience is quite...life-changing that you turned to Bitcoin from being a credit card user. Not really that common of stories I heard around here.

Using it depends on the users otherwise whenever you control the way you spends money without you drawing debt to yourself is best thing to have. When you work on your expenses there's no way you will involve yourself with so much debt on your debit card, but i wonder how come people go this far being indebted while using this card, we don't use debit card within my country.

Easy access to finance from credit cards will make us forget to control high spending, but the use of credit cards depends on each cardholder because some people cannot see goods on the internet so they spend them without consideration, we must wisely manage our finances to save money and only use a credit card for basic needs, sometimes we don't get too up to date with credit card offers because it will only leave debt due to use that can make it possible to make loans, only use credit cards for necessities

I can feel EMI as a big advantage but I don't see any other good benefit in using credit card. Credit cards are used by those who have a good source of income or bank FDs are applicable for credit cards. So since they have enough income they don't feel anything bad for spending money. so I don't think credit cards will ever reduce unnecessary spending for that person. on the other hand, credit cards will increase unnecessary spending. so credit cards are not suitable for those who want to lead a routine life and want to servings for futures

If you know how to control your expenses, then there is nothing wrong with a credit card, I have a bank card, but I almost never use it, only in very rare cases, and I never use a credit limit at all, and I also lowered it myself in the settings credit limit to the lowest possible, and it's about $10 right now, so I'm not tempted to use it. But I have friends who use credit money and they like it, it's not about big sums, but about small expenses.

it depends on your country, do you that not every country that make use of credit card to operate, in some countries you not have a credit card but you will purchase anything you feel like purchasing with cash over one or six months, and secondly with the credit card you will spend what you never expected because you are not seeing the money, i have notice that to spend money with cards is more easier than to spend with a physical cash, i will advice you to be spending with cash instead of using a credit card, but if you know it will be good for you to credit card, then you can as well go with credit card.

Yes it is, I also have a friend that have been long time not in touch and somehow he message me to ask a loan but I said no. Because the consequence is hard.

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We need to control our habits or the way we live, so we can live free without debt.

We can't deny that there will be times when we needed to rely on loans to survive because not all of us were born with privilege. However, making it a habit isn't a healthy lifestyle because it can affect our reputation and it won't give us peace of mind especially if we are using it for the things that we don't need. Loaning can help but it shouldn't be done often if we have other ways to sustain our living. It's better to live without debt though we aren't living a luxurious life.

Paying with a card is only worth minor purchases, because you are right, spending money from a card is easier than spending cash, so when buying large amounts it will be preferable, you will see how much you are spending. And I don’t like credit cards, I think that we can do without them, and we shouldn’t spend the money that we don’t have, because this will lead to additional costs. Everything seems obvious, but many do not want to think about it.

Apart from EMI, credit cards have many other important uses.  Suppose you need a product very much or it is very urgent for you to purchase something from online but there is no money in your bank account at that time. then you can process it using an immediate credit card and get a period of around 30 days to pay off the loan smoothly without any interest to the bank. so I never see any downside to credit cards. I am a credit card user myself and never faced any problem.  And I didn't notice any unnecessary  spending going up for me to using credit card

I think we can compare credit cards to cryptocurrency in some ways because credit cards help credit scores but can also lead to a worse nightmare. Meanwhile, cryptocurrency also presents high benefits, and despite the benefit, it also presents high risks. To prevent the risk it is better to have adequate knowledge and also use DCA when making investment decisions.
The same thing happens to credit card use DCA when making use of credit card.

Credit card is like borrowing money from someone, but the catch is there's no limit to it. And it becomes an addiction as you use it over and over. I have bought this and paid this amount back before. Why not buy something more expensive? I am sure I will be able to pay it back like before.
And this is how it begins. I have always hated the concept of borrowing money and let myself in debt. If you are using that money to make more money by doing some business or anything else, then yeah, it is ok to use credit card.
If not, try to stay away as far as you can from it. But as you mentioned how you have overcome the situation by following a strict budget. If one can manage it from the beginning, then credit card is for them. If it's necessary or not needed without some emergency situations. Then you are better of without it. 

But people like using credit card to purchase things instead of using physical card,  sometimes when I go for shopping with card I purchase above my motive or plan due to I'm paying with card, but the situation whereby I go with cash I always purchase the exact what I needed at particular time, people that suppose to be using credit card to purchase anything is people who is working and know exactly the imitation of their expenses within week intervals or monthly intervals.

Same here, using credit card cannot be called independent since there will be time where you will be too dependent on that card even if you didn't have much money. I have once avail a credit card before but didn't use it too much and decided to stop coz it felt like I am trap inside a deep pit of debts.

Well I am not the type of person that uses my credit card all so much. I will use my debit card or just pay with cash when I need to buy goods. Using a credit card for me is when doing online shopping for it is the only way to pay. If I have little in my account, I will use the credit card.
 
For me to use a credit card only if it is expensive. I do not like it when I have to pay interest for my credit card bill so I like to pay it off for each month. I only use just 1 credit card and there is not so much debt on it so I do not mind

Petrol and groceries are things you need, it's definitely OK. I'm talking about those small purchases like trendy clothes that you don't need, or something like sunglasses, just things that we want and don't truly need. Because if you can't afford to pay in cash, don't pay for that on credit. It would be a different situation if the person is rich.

But it is more better to have not a credit card right? I don't know if we are the same view but for sure you'll be tempted to buy those things as you have your credit card with you , to force your self not to buy those things it is better to have cash or something card like debit/visa card that has money on it and then swipe it if ever you buy something because that is for sure you can buy it as you have your money with you unlike in credit card that you will do it monthly meaning you don't have money on that

There are definitely people who manages their credit very well so I guess it all depends on the users. Sometimes I feel envious of the perks that my peers gets from using credit cards over time but I personally don't want incurring unnecessary debt. If I see an item or product I like but cannot afford at that moment then I simply walk away. Cash is king for me and if there's a thing I need to purchase online then I can just use debit cards. It acts like an online wallet so I just top up when needed.

Buying anything without a credit card is a good habit. I think that if you do not buy anything on credit, but wait half a year, or a year until you had to pay off the loan, then you will be able to save up and buy it without a loan, and with the money that you would have to pay as interest to the bank, just buy bitcoin.  ;) It is best to refuse a credit card if it does not give you any advantage or benefit in everyday life.

I understand your point, but I meant something different. I can also afford to buy expensive clothes or could have bought my motorcycle with my debit card, but instead, I prefer to use my credit card, firstly because of the cashback and, secondly, because I'm basically postponing the payment of the item or service I'm purchasing for a month. I know the latter sounds a little stupid, but it's purely psychological and makes no difference. We also don't have the credit rating that the USA has.

The issue starts if you're overpurchasing things you don't actually need and start piling debt on your cards. An easy way to fall for this is with interest-free installments.

Indeed, I only use that if you are about to buy a thing with minimal amount only, because you need to minimize the amount so the interest will not be so high. But it depends to the self discipline of the OP. I used cash for foods and other things  but as much as possible I don't want to use it because I don't want to pay a certain thing monthly I don't want to be bothered by credit companies.

The credit card, if you look at it literally, will give you the opportunity to get something that is very difficult for you to buy with cash. What you couldn't buy in the past because the value was too expensive, now with a credit card you can afford to get it.

     Of course, as you mentioned in the end, you have to be wise in using it, it's true, if you only use the credit card for luxury and don't think about what it will be used for, it's like you're stabbing your own. a body that you don't realize has many wounds, and in the end you will realize that you are in debt because of the size of the profit you borrowed, which will be the reason that you will have a hard time getting rid of it.

Using up credit card isnt really that bad as long you are really that responsible on paying up on what you have used because if you arent a good payer then you would surely be experiencing lots of problems since you would be piling up some interest if you do miss out that monthly dues. Credit cards are actually helpful if you do make use on the good way on which it could really be saving you up on the time that you would be having some financial problem but of course you should make yourself that responsible.

People would be really having that bad impression towards it but mostly into those people who do have that bad experience about it but for those who do know on how to use of CC's then
for sure it would really be giving out that positive impression.

It is not about temptation, it is about the fact that if you can't afford something but really want to buy it, then you could either make a mistake or you could make a calculation. Credit card doesn't mean that you have to pay it right now, it means you could pay it small by small per month, so you do not have to pay it now.

We need to get rid of the mindset that debt is bad, debt could be good under so many situations and in this case it means credit card should be used that way. For example if you pay it in cash, then you pay it in cash, but if you buy something that goes up in value because of inflation, and you pay with credit card and take it in 12 installments, by the time your debt is paid, it will worth even more and you would profit from it.

The psychology behind the introduction of credit cards are simple, because people will spend more... when they do not see the impact of that spending. Let's compare "Cash" with "Credit cards" .....

So, when you use cash, you open your wallet and see a wad of notes and you can count those notes and know how much you can spend and you see how it is declining as you spend.

Credit cards are the total opposite.... you do not see the physical cash... as a matter of fact, you are spending something that you do not own. The more you spend.... the less you own, because you pay interest on that spending... so it is costing you more for that item or service than what the buying price is.

My advice : Destroy the credit card, until you can afford it and then only use it when you can pay it back immediately. I only use mine for online purchases and once I paid for it, I transfer the amount from my expense account to prevent the interest.  ;D

As you stated yourself, it should be utilised to fulfil the emergency situations only but CC is something that can take us on journey of desires and leisure. Most of the CC are advertised by banks in such way that we feel like it’s our financial freedom. They even freaking offer instant small and jumbo loans on the CC based on how you repay your payment.

It’s like sand sucker in the desert. Once you are in there is no way you can get out of it.

However, if you are wise enough to plan all the expenses well in advance then I don’t think it’s an issue. Of course, it’s up to every individual how they play the role in managing it all.

All you have to do is "avoid spending until your balance is negative". Don't spend money that you don't have, and you'll avoid all kinds of financial trouble in your life. It is not necessarily the credit card that is bad but rather, your money management.


People should be thinking like the transfer markets of sports teams in terms of whether buying "XYZ" will benefit them in the long run.

I really dont get it why people still using credit card even they knew that they are paying it by the end of month with interest. Also spending the money that even you don't have. I don't have credit card and i really don't know how to use it but i know that you will pay by the end of the month with interest on it, which leaves me confused that if we just used our cash instead? so that we wont be paying on interest? For sure having credit card is like a power in your hands as you can buy anything within your credit limit but again you'll be struggling paying it on monthly basis.

Clothes, that's a small purchase = debit card. But I do understand your use of the credit card because of the cash back value. Although you also said you pay the bill in full right away, that's OK. The point is, avoid paying interest as much as possible, especially for things you don't truly need.

The motorcycle, big purchase = credit card, especially if you don't have more than ten months worth of savings, it could help.


YES!

Credit availability + impulse purchases = the way to enslave millions of people. The abundance of credit money worldwide is actually a problem, which makes top banks and their owners the most influential people in the world. This scheme works really good, there are many people who loan money and behave in a way they gamble, at first it is euphoric, then there come consequences...

I'd been offered many times by banks for their credit cards and some of them are already free of annual fees but I always refused. What for? We are not supposed to spend money beyond our means. I only have 1 credit card and it's because it came from a friend working in a bank so I cannot refuse although I seldom use it and at the same time the card also functions as a debit card. I prefer using debit cards or cash because I am more aware of my current financial status.

Credit cards are still useful, especially during emergencies. But still, a responsible person should have savings for emergency purposes.

Perfect, you understand my point. Some may disagree, but credit cards are a great tool if you know how to handle them and avoid getting carried away. Cashback rewards aren't that great in my case, but it's still a small bonus: 1% on all transactions, 3% on gasoline, and 6% at a few specific shops. In other countries, such as the USA, the benefits are great, and with some cards, you're able to collect miles that you can redeem for free or discounted plane tickets.

If you're able to cover the yearly cost of the subscription and use it as a tool to take advantage of interest-free installments and earn some money from the cashbacks, you're doing great management.

I don't know the exact reason why they use a credit card maybe out of habit or just want to use a credit card because it's simpler and can buy whenever they want, of course with a credit card there is interest that has to be paid every month because they don't use money myself I think the reason behind this all they have a different opinion with us.

I myself don't use a credit card because I know there is interest waiting, this won't be my habit by using that type but spending cash it would be better it's just that sometimes we are hesitant to spend a lot of money to buy something while it's different from buying a credit card like it's easy and there's hand power behind using it.

People who use credit cards have a stable salary and they are able to cover interest every month.

Great points were raised by you.
Only someone who has really used a credit card can decide whether it is prudent to do so in the end. Meaning, based on experience. It is a two-edged sword, as you mentioned. There are both positive and negative aspects to it.
It's like to putting the wagon before the horse by creating a budget to track your expenses after using a credit card. In order to ensure that you can make the payments on time and prevent late fees or other penalties, it would be good to first establish a budget.

What do you mean by over one or six months? Is this a term to pay the missing amounts? So it still work like a credit card, okay that's cool but I think credit card is more cooler and more convenient because there is no need to carry a bulky cash with us. It fits on a small pocket plus it allows us to make online purchase.

I guess, that is something that can't be done on those countries that you mentioned where there are no credit cards. Credit cards are now high tech and they can now be connected to our smartphones to see our balances and other details. But There is something that is better than the credit card and that is the chips or microchips that are installed inside of our hand. I saw lots of videos like this lately.

You should not use credit card unless you have the money which you're going to spend in your bank account in worst case you know the sources of income will get you that amount before the due date.

If someone use credit card in this way then it's good for them because it will help you to build your credit line so get loans for less interest rate for example while doing business,etc and also enjoy the free perks comes along with credit card for example free lounge at airports, free hotel stay, etc.

Uh for me? No. I mean, why enslave yourself? Because thats how I view them. Since you said you are weak at economy, that could translate to mean, you do not have a control over how you spend, huh? Quite simple, ditch the use of credit cards because they can make your spending expensive, no thanks to all the interest being added when one makes a purchase on credit. :(
 Just to add, do you know how much the US owes in credit card debt? Above a million US dollars. See why it ain't wise?
 

so that is really a point of credit card to to take a loan with less interest and easily got the a loan i would prefer this than using it to spend on something that later on youll pay it, i mean even you cant afford it you can still buy it and pay it in installments which my view is that it isnt good idea because why purchase it if you cant afford it in cash mostly this are wants and not the needs in our life.

most people who use credit cards think that by using it they will be able to save money and better monitor their spending. but the fact is that most people are trapped in credit card debt, they continue to be charged unreasonable interest and it will continue to grow if they don't pay it. if you are at this stage you should stop using a credit card until your debt is finished.

Unfortunately we have been tuned in that way so majority of people don't realise the credit card trap but who knows can use it wisely and get a certain amount as long with zero interest and this will further build the credit score so in future we may get better interest rate for example while buying a house or car or anything.

I'd rather not have a double-edged sword than have one, that's what I usually say.

People, myself most importantly, tend to act stupidly when given more capability than we know what to do with. I've been in the same situation as you OP, although mine started when the company I worked for gave us pretty nice benefits just for opening and using credit cards. Suddenly found myself depending on it more than I wanted to. Soon after paying my debt off, I closed my account and I have been credit-card free for a couple of years now.

I'm not saying everyone should follow my steps, a credit card is a good leverage if you know how to use it wisely, but as I said earlier, I'm a little stupid so it's not going to work for me, which made me decide to not have it. Rather struggle now than struggle paying off my debts.

You know what impresses me about the author of this topic is that he immediately got out of debt, after all it was very difficult to get out of it especially if he used a credit card.
A lot of people get into debt with credit cards, did you know that? It's rare that there are borrowers who pay the lender right away. That's why I'm impressed with what op did that he really did to find a way to get out of here right away.

You said it right, you really need to set aside a budget for this so that you don't have a problem when it comes to paying or else if you miss it, the interest on the credit card will be high.
And this credit card should only be used for the right and not for the wrong expenses, although it is also true that whoever holds the credit card is the only one who has the right to use it extravagantly or not.

A credit card is a borrowing tool often used as an emergency option when you run out of funds before your payday. While it's not wrong to have a credit card, it's not a wise decision.

A person's financial ability should correspond to their hard work in earning money. Therefore, it's reasonable and safer to live within one's means. A person's success in managing their finances is indicated by not running out of money before the next paycheck arrives. It means they won't resort to borrowing and their financial condition is deemed healthy.

On the contrary, individuals who live beyond their means tend to rely on credit cards to maintain their lifestyle, despite the financial burden they face every month.

In essence, it's essential to live within your financial means. If you're not ready for a lavish lifestyle, don't force yourself to own a credit card to purchase unnecessary things.

Before deciding to use a credit card, I think we also need to know what things are allowed to do using a credit card,
credit cards cannot be used carelessly and we must be really wise in using them,
but back again every decision is in the hands of each and the important thing is we have to be responsible.

If you are considering getting a credit card, it's important to do your research and choose one with low interest rates and fees. You should also create a budget and track your spending carefully, making sure to only use your credit card for purchases that you can afford to pay off in full each month.

for me credit cards are a big problem that will always tire us, indeed with something by credit it will be easier for those of us who only have very limited money and can make installments, but I feel burdened by buying something by credit and therefore that I won't buy something if the money I have isn't enough for those needs, but some of us can use credit cards and can benefit by managing the card so they will always use credit cards for their daily needs in spending something that is want them to use.

Using credit card in a way is good to make a very nice credit standing that actually you can use in the future for loan purposes, or if you will apply for a visa etc. Use it only for the things that you needed and you know for a fact that you can pay what will you spend using your credit card. Having a credit card can tempt anyone to buy what they want that is not needed and suddenly they did not even monitor their spending, they will just be surprised that they had spent so much that they cannot even afford to pay. If you are the type of person that can be easily tempted to things that you don't need and you tend to buy so fast never ever apply for a credit card, your life will be full of debt. You should have discipline and you know how to control yourselves and also you know how to pay if you want to acquire a credit card. Never use also credit card if you will use it in investment because it is so risky.

There's data available on total credit card debt in the U.S which might allow us to draw some conclusions: https://wallethub.com/edu/cc/credit-card-debt/25533

Of course most people don't default but it's a bit eerie seeing credit card debt increase to the levels of the 08 housing crisis. It's possible these people are racking of credit card debt out of necessity seeing as the U.S. economy is slowing down (I predict Q1 GDP will indicate a recession).

I agree -- there is an overreliance on credit cards and once the interest stacks, people will spend years paying off their debts.

If you want to use a credit card, you must first maintain control of spending.  One of the benefits of using a credit card is rewards points and other benefits.  At some select stores, hotels, restaurants and grocery stores, users are awarded back points when they make purchases with a credit card.  These reward points can be used to purchase various gift cards, travel packages and other products at low prices.  Credit cards have advantages as well as disadvantages.  It is sometimes seen that the user spends a lot of money on credit cards.  Various studies show that when a person makes a purchase with a credit card, they make 113 percent more purchases than with cash.  If a credit card user does not pay the credit card bill on time, he/she is charged a huge amount of interest.  Paying it off later will cost you a lot of interest.  Which will be very difficult for you.

People are now enjoying a lot of benefits by using credit cards especially they can enjoy the maximum benefits in making purchases. However, those who use credit cards have to pay attention to several things while using it. One of them is to pay regular installments. If a user fails to make regular payments after using the credit card then he will face a big problem. Moreover, cash withdraw through credit cards, which increases the interest rate. All credit cards are good for those who maintain regular spending and deposits.

I think if you're worried about it and wondering what you're going to do with money carefully.
The main thing to remember is that this is not your money, and you should use it only if you need emergency help.
You can't buy luxury goods and not invest with this money! Believe me, trading should only take place with Extra funds! 

When the bank gave me a credit card, I immediately cut it, because I didn't need it. Nevertheless, I did it only because I have friends who will help out with money at any moment. If they hadn't been there, I would have kept the credit card and used it.

if a credit card is used wisely, it is certain that many benefits will be obtained, because there are many facilities that can be obtained from using a credit card, which is different from a debit card.
but what you said is true, that using a credit card you have to be willing to pay according to the bill you get, don't ever make a partial payment of the bill, because the interest received is very high and this can make the bill bigger.
Likewise, like you said, taking cash using a credit card is not recommended because the interest for taking it is very large and greater than a normal loan.
once again you have to be wise in using a credit card because you will get many benefits.

Really? Specify which, please.

I hope you're not going to talk to me about airline miles and stuff like that. The credit companies have it well studied and it is an extremely profitable thing for them, not for the user. For every one user that makes an extremely rational use of credit cards and does not overspend, there are 100 that for the supposed benefits spend much more than if they used cash. In addition, there is also a good percentage who end up deferring the bill, paying the companies succulent interest for it.

Credit cards are part of a bit enslaving credit mechanism.

I don't use credit cards anymore because I think credit cards are things that make our finances wasteful, I've been trapped in credit card debt and almost every day I get calls from credit cards, even they often come to the office or home to collect bills, actually I can easily pay off but because I think the debt is too big a penalty so I ask for all fines to be waived.

Having a credit card means you know what are the responsibilities and risks that you will encounter when you use it. Using a credit card responsibly involves paying your debts on time every month, avoiding unnecessary purchases that you can't afford to pay back. Being a card holder you must monitor your credit card statements regularly for you to see the actual and unauthorized charges so that you can report it immediately to the bank. Personally I use my credit card for emergency purposes and to buy household needs. I do not use it for the things that i really don't need, like luxury items etc. It is hard to pay if you have a lot of debts. So use credit card wisely and responsibly.

If you can pay the credit card bill then why you are still waiting?

Don't expect the banks to waive off the late fee along with interest rate because that's clearly mentioned when you signed up for that credit card so pay as soon as possible or else the interest rate will exceed the actual debt and your credit score will highly get affected which will take years back to retrieve it to.

If you're not really smart enough to manage with paying credit card bills on time then avoiding is best choice.

Being a college student,you should not get into the credit card.Because with my opinion credit cards are like web,it will give you money at the needed time.But the interest for the money will be high as compared to the normal interest.Credit cards are like the double edge knife will affect you for sure.You should be more careful about the impact and possible losses.It will allow to buy unwanted debt and unwanted assets.Then at the month end you will be the loser.So kindly don’t get into credit cards and lose your peace in your life.Monthly commitment was increase after the credit cards,it will became an EMI card after the wide use of it.

That's the downside but I've heard that if you use it right, there's a possibility that you can use your credit card to your advantage, don't some credit card company offer some kind of freebies when you use their card, I've heard some offer free airplane ride or something like that, although I'm all for using it, I think it's best to know how you handle your finances first because if you don't know what you're actually doing and you are wasteful in terms of money and/or you don't have a lot of financial income streams, then credit card might not be for you

As of the moment, most of my friends will say that they can buy everything and they can do installments on it, so it means they have power on it, which is why I am scared the most when I do have a credit card, as for sure I would be buying my wants. That is why I always say to myself that I don't want to own a credit card, as if I need to buy something, I should be able to buy it in cash.

A person won't have any trouble paying off his balance at the start of the month as long as he can use his credit card responsibly. However, most people who use credit cards assume that they can easily pay off the balance, which leads them to make unnecessary purchases. In that situation, he didn't consider how much he would eventually have to pay. If he didn't notice it, it would be an issue since he would end up accruing debts that he wouldn't be able to pay back.

When we feel that we still have a balance to use, we usually forget ourselves and we are lulled by that comfort, in the end usually someone who has a credit card will be in a bind because they can no longer afford to pay bills every month. I think this is a kind of trap, indeed we will definitely find it easier when we have a credit card, the problem is from the convenience that problems will come. Especially if we can't control the money we use to buy something, it will get us in trouble later. I personally prefer not to have a credit card, because it's risky in my opinion.

If I have another option to pay for the bills without resorting to credit card then I will choose that rather than the card. As what mostly credit companies used scoring to determine whether you are a good creditor or not, it is also another form of disguused benefit so that users will have to use credit card more often to make their scores good, and that is one of the traps being set in order for them to gain more users.

Offers that are increasingly attractive and varied from credit cards make anyone tempted to have a credit card, I am no longer interested in credit cards because it makes me more wasteful and too easily in debt, by being able to refrain from consumption then we can avoid credit cards.

Credit cards have several advantages and now many credit cards are equipped with reward programs that can provide cashback, travel rewards or other facilities that can be very valuable for users and can enjoy purchase protection. In some cases, credit cards can become part of a debt cycle that can lead to financial problems.

I think it really depends on the spending habits of the individual and the ability to manage their finances effectively and be able to pay off the balance every month.

Since you quoted that part that I wrote, you could also quote the rest where I explain that very few people use them in a perfectly rational way. Rewards such as airline miles are highly profitable for companies, and what they do is encourage them to spend more, making it very profitable for the company and for the user in most cases and even if they don't realize it, no.

I also explained in a previous post in this same thread the concept of friction. Several decades ago, companies were reluctant to accept credit cards because they had to pay commissions, but they soon carried out studies and realized that people who use cards end up spending more, with what the company has to pay the commission and still earn more.

The offer to use a credit card is indeed tempting anyone, especially those who used to replace gadgets, they will get convenience in debt with credit cards, but we must be smart that the offer of convenience can be the thing that makes us bankrupt because credit card interest is very high, it's better to live a simple life And don't be tempted to buy with debt.

there are two possibilities when we decide to use a credit card, first we will get convenience and allow us to be able to control our finances properly and secondly we will experience ruin even though it is not the fault of the credit card but mistakes we make ourselves able to manage expenses.
so it all depends on everyone, there are those who benefit from getting a credit card or vice versa will get destroyed because they are not able to limit or manage financial expenses properly.

That is indeed a good thing to do, because indeed something like that can be a limit for ourselves because in this case for now if we do have that (credit card) then we are like having a collateral and we are too comfortable which makes us too comfortable and trying to keep buying because indeed it can be paid in installments even though this is actually the problem.
At first it won't really feel like much, but the longer it takes, the more clearly we will get entangled with the position of paying every month at a higher cost than what we should spend.

Using a credit card can be helpful for building credit, but it's important to use it responsibly. Keep track of your spending, pay off the balance in full each month, and avoid carrying a balance that will accrue interest over time. If used wisely, credit cards can be a valuable tool for managing your finances.

Credit Card is one of the most popular means of transaction worldwide with a credit card, you can make more purchases than you normally would. It has a fixed credit limit up to which you can spend money currently, this card can be used to make purchases while shopping in many shopping malls. Besides, if you take the dual currency facility of this card, it can be used for international transactions as well the use of this card is increasing day by day for these features.

I agree, also some of my friends prefer to use credit cards in their daily purchases so that they can monitor their expenses and we all know that cc has limit so once they reach the limit they will stop.  That's what I learned from them and maybe I will apply it as well if I will be approve to my cc. Some people treat cc as bad thing but the thing is it is not and it can be very useful.

That's right, people who are in the habit of using a credit card to pay, spend more money, because there is no moment when people give cash themselves, the moment of parting with money is easier. Online payments have become part of our reality and it is hard to imagine our life without online banking. The most important thing is to use the balance of your money and not have the habit of using credit funds, or reduce the credit limit to the minimum values so as not to spend more than you should.

Now that I've got the point, let's say I want to buy a car but I can't afford it in cash, so I could pay it with a credit card, right? and pay an installment, let's say for 12 months. Well, that's a good example, so this credit card thing is really good only for those huge amounts of purchases, and it is up to us, the customer or user, if we will spend it right, like not on those expensive clothes or etc.; it exists to help us buy those things that we can afford in cash.

I don't use credit card and I won't be using it till the end, the debt on that thing is crazy, I've heard stories from old men using credit cards and I don't ever want to be on such a journey in my life, I know that credit card has it's advantage but I never like debts, it never works out for me because I found myself not moving forward.

I prefer using wired transfer for big purchases and Fiat for small purchases, I am good with this, and if the store accepts Bitcoin or other crypto it will even be more interesting, I like using crypto for payment because it's less stressful and more secure than using fiat currency. Everyone is entitled to doing what they feel is right for them but this is me.

Currently there are indeed very many companies that have relied on credit cards to get an item we want, and we have seen many credit card users among the public, but I am not interested because by using credit cards we will feel more burdensome when our income is unstable and our obligation to pay credit must continue to run according to the provisions we have agreed, If I really can't buy an item in cash, then I will not use a credit card even though there is a special offer, but in the end there is still a very big burden.

To be honest, I have never applied for a credit card. I prefer to live a debt-free life and avoid the stress of dealing with card interests. I already have a lot to deal with in my life and I don't need those additional worries. Even tho I know that credit cards can be beneficial at times for small online purchases but it's really important to maintain control over your expenses and avoid exceeding your limits.

It's good to keep in my that it's easy to lose control and become enslaved to credit card debt even at an older age. Therefore, it's important to be aware of the risks associated with credit cards and to manage your spending wisely.

If you are a responsible person who can pay off their credit card debts on a monthly basis as soon as you receive your income, then it may be a suitable option for you. However, if you prefer to live a life free from being controlled by the money you owe, then it's better to avoid using credit cards.

There are no bad tools. There is a lack of ability to use them. A credit card is neither good nor bad. How it will affect your life will depend on how you use it. You have already learned from bitter experience and realized that if you don't control the use of a credit card, then this promises big losses. You overpaid large percentages for the use, right? You need to try to use the advantages and minimize the impact of the disadvantages of a credit card. In general, it is wise to use wisely, and unwise use will be unwise. :) It sounds a bit absurd, but that's how it turns out.

If you are afraid of getting into debt again, then it is better to switch to using bitcoin. ;)