using credit card

[Ani1985]

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.

[smile1218]

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.

[jrrsparkles]

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.

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.

[usekevin]

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.

[Latviand]

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.

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

[xSkylarx]

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.

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.

[cydrix]

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.

[nara1892]

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.

[karmamiu]

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.

[Sir Legend]

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.

[Andrija Branislav]

Credit cards are part of a bit enslaving credit mechanism.

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.

[Free Market Capitalist]

Credit cards are part of a bit enslaving credit mechanism.

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.

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.

[Wong Gendheng]

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.

[Fakhrulenclix]

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.

[nara1892]

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.

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.

[Iadegbola34]

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.

[Negotiation]

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.

[molsewid]

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.

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.

[Altryist]

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.

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.

[xSkylarx]

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

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.

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.