Credit cards | A scam or a tool?

[Uang_kartal]

It's a scam, but when you live in fucked up country with a very low salary credit card comes in handy when you are buying more expensive things! I get that part "it's better to save every month and buy what you need when you have the whole amount", but when you need something for the house immediately, like water heating, stove, if you need something fast and you are short with cash (or you can't allow yourself to spend bigger amounts) than credit card is a good option!
Of course, a credit card is like a loan, and people should know their limits when taking a loan, and always have a plan on how to return it! In my case, I have a regular job, even with some small salary I always have for that, if not I always have some coins to cover myself, and I am not worrying too much... it's better for me to use a credit card and pay little every month than to sell coins!

That's a smart and innovative step bro,

• there's really nothing wrong with being a companion for emergency needs/reserve funds, if you choose me, I'd rather just have a coin and there's no unreasonable gas money transaction (percentage calculation),
• that's your step apart from a credit card, is there anything else that is more important and easier during an emergency?
• Or is it just for practical purposes?

[retreat]

Credit cards are just a way to lure people into buying as many things as they would like. It may seem like you won't pay for the things while buying them. And this would be a really big problem for many people psychologically. Because people who are lured easily like this use it for more than they aimed to do and the result of it may not be very healthy in terms of financially for those people when it is time to pay up.  

Many people think that when their credit card is approved, the balance inside is their money, so they spend their credit card balance to buy useless things, that's a trick that banks have built to make a lot of people owe them money.

[alpamar99]

Credit cards are just a way to lure people into buying as many things as they would like. It may seem like you won't pay for the things while buying them. And this would be a really big problem for many people psychologically. Because people who are lured easily like this use it for more than they aimed to do and the result of it may not be very healthy in terms of financially for those people when it is time to pay up.  

I feel this is something that almost everyone feels because with things like this, almost many people force their will by buying lots of things even though they don't have that much money on the grounds that credit cards make everything easy, but on the other hand this is something that is inconvenient and the huge loss behind it is evident in the long run

[Fredomago]

Credit cards are just a way to lure people into buying as many things as they would like. It may seem like you won't pay for the things while buying them. And this would be a really big problem for many people psychologically. Because people who are lured easily like this use it for more than they aimed to do and the result of it may not be very healthy in terms of financially for those people when it is time to pay up.  

That kind of misconception drives more people to have big debt, people who are not capable of controlling their desire to have things that they really don't need, additional expense that credit card gives them the chance to buy. In the long run they are just ending up paying a lot and with the kind of setup those credit card business have, you will continue paying a huge amount of money for the interest alone, while you are struggling to pay the actual amount that you lend.

[Desmong]

Credit can is very useful especially when you go for shopping. Although I don't use it because it's unnecessarily to me because I prefer using ussd transfer for payment of bills and other stuffs. Sometimes I pay in usdt which is safer for me especially if the marchant accept payment in cryptocurrency.
I see the act of using credit card as unnecessarily because it has no meaning to me. I most pay most of my transaction in cryptocurrency.

[carlfebz2]

Credit can is very useful especially when you go for shopping. Although I don't use it because it's unnecessarily to me because I prefer using ussd transfer for payment of bills and other stuffs. Sometimes I pay in usdt which is safer for me especially if the marchant accept payment in cryptocurrency.
I see the act of using credit card as unnecessarily because it has no meaning to me. I most pay most of my transaction in cryptocurrency.

If you dont know on how to handle up yourself on using these cards then you would really be finding out some problem later on because you would really be on deep debt once you dont have the good control of it or wont able to handle it well.

Its beneficial but only to those who do really knows on how to spent on priorities and wouldnt really be spending on wants.

There wont really be problems if you do not make some impulsive buys.

[dezoel]

Many people think that when their credit card is approved, the balance inside is their money, so they spend their credit card balance to buy useless things, that's a trick that banks have built to make a lot of people owe them money.

The whole world is filled with people like this. Unfortunately people use it like it is free money forgetting that it is "credit" card, meaning you are not paying with your money and you will be asked to pay it back.

I know that some people are doing it for the right reasons, but I have a friend who ended up paying for pre-wedding ceremony stuff, all the house needs and all that before getting married. She racked up close to 10k dollar worth of debt, and now she has to pay that slowly and basically mortgaged her entire first 1-1.5 years of marriage with bad finances and low living conditions just to have a good pre-wedding stuff, like bachelorette party, cultural stuff, some stuff for the house that was not needed (I would understand if it was like fridge or bed or something). These people think "I deserve the best and I have a card that allows me to do it" and then have to live badly for a year to pay that back. Same said for people who pay for vacations with their cards.

[stomachgrowls]

Credit can is very useful especially when you go for shopping. Although I don't use it because it's unnecessarily to me because I prefer using ussd transfer for payment of bills and other stuffs. Sometimes I pay in usdt which is safer for me especially if the marchant accept payment in cryptocurrency.
I see the act of using credit card as unnecessarily because it has no meaning to me. I most pay most of my transaction in cryptocurrency.

If you dont know on how to handle up yourself on using these cards then you would really be finding out some problem later on because you would really be on deep debt once you dont have the good control of it or wont able to handle it well.

Its beneficial but only to those who do really knows on how to spent on priorities and wouldnt really be spending on wants.

There wont really be problems if you do not make some impulsive buys.

Did really have some nasty lesson learn from me in the past about debt with my credit cards because im buying out something which i cant really afford to pay it on time which i did really make a hard time on coping up with those due dates.If you arent a responsible card holder then better to cut it out
or simply surrender it out because you arent really worth on having this.

Honestly its really useful on emergencies and sudden purchases specially if on needs but it isnt bad to buy your wants if you are just
good on paying it up.

[glendall]

Credit cards are an intermediary tool for financial institutions to make profits, by providing convenience to their customers
I personally am not against credit cards, in fact credit cards can help me buy something that has good quality,
many stores offer 0% credit on luxury items if you buy with a credit card
here we are required to pay on time if we do not want to be subject to fines / or late interest
so it can be concluded that we have to be wiser if we use a credit card so we don't get caught in too much debt, spend according to ability

[finaleshot2016]

It's not a scam; it's an opportunity that should be taken advantage of properly because if you don't, it might wreck your life and become a massive burden once you've made a big mistake with credit cards. Of course, it's a tool for those who can afford it and don't have a financial problem. If you can't afford to pay, you shouldn't acquire a credit card because everyone can be an impulsive buyer because they have items they want. People are prone to thinking positively and spending money because they are enticed to do so.

[KJanamsarani]

Some people love credit cards and may have as many as seven or eight. But the amount is not very big, when you use it may feel very chicken ribs. But when it comes to spending money, the combined credit card limit seems to help a lot

[2stout]

If one is financially literate, it can be a tool to make moves to improve one's plight.  If financially illiterate, it then becomes a tool of burden and gambling which tends to lead to financial destruction/ruin or at the least a huge obstacle to financial independence.

[PurpleFrog]

Credit cards are either a good thing or a bad thing depending on how you will use it. If you use it to buy something that you need and then pay the debt, usually you will have a % cash back on the purchase you made. The most important thing about credit card is the discipline.

[Gayong88]

What's your take on this? Are you against credit card usage?

Credit cards are a way to earn points, compare your spending habits among others who use credit cards and extra security when making online purchases.

Regarding use it is our choice as individuals whether you want to use a credit card or not. but there's a lot we have to figure out before you use it, would we rather have cash to spend as we please, or would we rather have the luxury of putting those purchases on a credit card for now and paying off the bill later?

If the former, then go ahead and live your life the old way. If the latter, then perhaps switching to a credit card is worth considering. Overall credit cards are a great tool for those who want to take advantage of them.

[sayaya17]

Credit cards are either a good thing or a bad thing depending on how you will use it. If you use it to buy something that you need and then pay the debt, usually you will have a % cash back on the purchase you made. The most important thing about credit card is the discipline.

Actually, the benefits of credit cards were originally to help people buy goods or pay bills even though they didn't have cash. Sometimes we have
an urgent need, while we don't have money, so we can use a credit card. Later we can determine when we can pay credit card bills, it can be
in the form of installments or paid at once in a predetermined period. The use of credit cards also provides benefits for users by providing cashback
and discounts. If we use credit cards properly, it will benefit us as users.

The problem is that we can become addicted to debt, so sometimes we have cash at the time but we prefer to use a credit card. In the end our debt
will get bigger and we will find it difficult to pay it off. That's why it's important that we use credit cards wisely and responsibly. I myself was stuck
in a fairly large debt because I could not control myself when using a credit card. So for now I prefer not to use a credit card at all.

[tippytoes]

Credit cards are either a good thing or a bad thing depending on how you will use it. If you use it to buy something that you need and then pay the debt, usually you will have a % cash back on the purchase you made. The most important thing about credit card is the discipline.

Actually, the benefits of credit cards were originally to help people buy goods or pay bills even though they didn't have cash. Sometimes we have
an urgent need, while we don't have money, so we can use a credit card. Later we can determine when we can pay credit card bills, it can be
in the form of installments or paid at once in a predetermined period. The use of credit cards also provides benefits for users by providing cashback
and discounts. If we use credit cards properly, it will benefit us as users.

The problem is that we can become addicted to debt, so sometimes we have cash at the time but we prefer to use a credit card. In the end our debt
will get bigger and we will find it difficult to pay it off. That's why it's important that we use credit cards wisely and responsibly. I myself was stuck
in a fairly large debt because I could not control myself when using a credit card. So for now I prefer not to use a credit card at all.

Credit card is a good thing if you know how to handle your finances. Sometimes it is a savior if you happen to have no cash and you badly need to buy the item before you go home. But if you haven't been religiously paying your monthly dues for your credit card, that's when you start having troubles, as the charges will be piling up.

[Fortify]

What's your thought about credit cards? Do you consider them a banking fraud, just to trick you to spend money you don't have, or a useful tool if used correctly? Do you have one yourself? In my case, as a student, I was issued a university card, which features a low yearly fee but also a considerably low credit limit. However, I often use it to pay bills in interest free installments (Car insurance for instance) and my gas expenses, which provide a decent cashback (I'll fill up my car once or twice a year for free).

On the other hand, there are quite a few shops here that also offer interest free installments, that way, I was able to purchase a bicycle for my girlfriend, when the budget was quite limited.

The trick on credit cards is to use them wisely, not spending more than you can afford, always pay in time, otherwise you'll get a huge interest on your balance, while at the same time, you're building a credit score.

What's your take on this? Are you against credit card usage?

Credit cards can be an incredibly useful and powerful tool, but they should never be taken lightly. You should only start using one when your finances are in a stable place and you've got enough money to pay bills each month, along with fairly good self control when it comes to spending. The worst thing possible to do with a credit card is to get one, see you have a certain limit available and think you've got free money. If you cannot clear your balance every month (thus avoiding charges) then stay well away from them as the fees will cost you a lot of money.

[rahmad2nd]

What's your take on this? Are you against credit card usage?

The only impact that is most detrimental to credit card users is when their information data is hacked, however at this time I still really need a credit card, besides making it easier to manage my financial budget, a credit card can help in an emergency. 
as you said, one should wisely use a credit card within the limits that he can afford, not make reckless purchases or make unnecessary loans.
Credit cards can actually be used properly and wisely but it comes back to each individual how he uses it.

[Rikafip]

Credit card are only for rich people and In my country having those is not necessary at all because it will only make us having more debts in the end.

I would say its quite contrary, as without it many people in my country wouldn't be able to do many things. In the end its all about how you use your card; if you are using it to buy useless/overpriced things of course you will end up rekt, but if you are smart and using it to buy only something that you really need and can't afford at the moment (for example you need new washing machine), it proves to be quite useful.

I agree that credit cards is a tool to scam people having such high rates that will trick people and every time they fall for it.

I don't know which credits cards you are suing, but the ones I've seen been used by people around me certainly don't have high rates.,

[TheNineClub]

The banking system itself is fraudalent, so anything that came out of it is to. But that's just something we cane to live with. So cards are just a tool that we use since we allready abide by banking rules. The issue is on the individual basis and how a person uses it, that's where issuses arise.