using credit card

[michellee]

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.

[1715131824]

1715131824

[Wind_FURY]

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.

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.

[Ultegra134]

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.

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.

[bettercrypto]

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.

[virasisog]

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

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.

[coinerer]

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

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.

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

[Jody.Drummer]

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.

[isaac_clarke22]

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.

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.

[Cryptomiles1]

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.

[erep]

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.

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

[leonair]

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

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.

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

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

[Cryptmuster]

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.

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.

[GeorgeJohn]

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.

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.

[dansus021]

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.

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.


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

[Cling18]

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.

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


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.

[Altryist]

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.

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.

[coinerer]

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

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.

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

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

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

[suzanne5223]

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.

[tjtonmoy]

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. 

[GeorgeJohn]

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.

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.

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.