Are Credit cards wise?

[beerlover]

VERY smart move. Because you are not spending your money, and anytime you are spending someone else's money, that is actually good. It is only a problem if you have hard time finding what seems to be the trouble and as long as you can do that then you are going to end up getting a better result.

I am sure that there are a lot of people who spend way more than what they can repay back and that is terrible decision and we are not going to get anything good out of spending more than what we can pay back. However, if you can spend a good amount, like something you can repay back at minimum, then you are keeping your own money and using it to make money until you have to pay back, that is a great way of using credit card.

[Iroh]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

I think It's totally up to the individual that's holding and using the card. People can be really irresponsible if the consequences of their actions isn't immediate. Spending on irrelevant things shouldn't be done on a credit card. A credit card can be useful for some business owners and individuals who are disciplined with their spending and has their finances in order.
For some other people, it's a tool used for irrelevant spending on things that are wanted but not really needed. A credit card does not force anyone to spend more than his income. It can be tempting for some but if you're disciplined with your spending, it is helpful.

[YOSHIE]

Are Credit cards wise?

Dependence on loan funds from the bank or debt to the bank for me is not a wise solution to base my life on, credit cards are in my opinion the most dangerous disease I have ever seen in human life.

I have a friend whose life always exists in an exorbitant style, every day all activities involving spending money are always with a credit card, long story short.
I saw his credit card bill ballooning, interest and fines almost every month, now my friend has disappeared without a trace, it was due to wasteful credit card policies, for me the solution is not wise.

[whiteblue]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

I recognize it as a trap where you'll be asked to pay at the end of the month when you get your salary. Someone will have impulsive spending if they use a credit card because they feel like they're borrowing money, and it's not a good idea to buy things that aren't productive or necessary.
To this day, I haven't opened a credit card even though the bank employee always offers me one every time I go to their office to withdraw money, saying, "Your limit will be much higher than other beginners." It's very annoying, he wants to trap me into losing the money I earned.

[BigTarget]

On seeing this topic, today I asked my brother the difference between credit and debit card. He told me having debit is very good but credit card will bring you to the worst condition at the end of the month. As he has both that’s why he got very lavish earlier. He told me that after I made the credit card I was very happy enjoying parties, trips and long drives. Spending money like I was a millionaire but now I realize that I haven’t used my monthly salary since 5 months as he made his credit card exactly 5 months before. When the salary comes the credit card cut its expenditures and sometime the markup as well.

[serjent05]

Whether the use of a credit card is wise or unwise depends on the credit card holder.  With lots of benefits the credit card offer, I think it is essential to have one.  We can read from the earlier reply that credit card offers more than what cash can offer.  With all the point system, discount,s and freebies, one can benefit much than paying item in cash.

People who do not know financial management are the only people who will think that credit card is a bad thing. Just like the example the quoted below stated.

On seeing this topic, today I asked my brother the difference between credit and debit card. He told me having debit is very good but credit card will bring you to the worst condition at the end of the month. As he has both that’s why he got very lavish earlier. He told me that after I made the credit card I was very happy enjoying parties, trips and long drives. Spending money like I was a millionaire but now I realize that I haven’t used my monthly salary since 5 months as he made his credit card exactly 5 months before. When the salary comes the credit card cut its expenditures and sometime the markup as well.

[WillyAp]

On seeing this topic, today I asked my brother the difference between credit and debit card. He told me having debit is very good but credit card will bring you to the worst condition at the end of the month.

Tell your brother once they clone his debit they clean out your bank account. While the CC is limited.
You don't pay a CCard immediately you better play with the debt for credit history.

[Republikcoin.com]

Tell your brother once they clone his debit they clean out your bank account. While the CC is limited.
You don't pay a CCard immediately you better play with the debt for credit history.

It's even better to tell your sibling not to approach any credit at all, as credit is always unpleasant for those who don't really need it. Living within your means is much better than trying to incur debt under the guise of credit cards or similar debts that must be paid off by a certain deadline. However, for those who have already applied for a credit card, it's best to use it only as needed and avoid overspending under the pretext of being able to pay later. We never know what will happen in the future, which can lead to overwhelm in paying our credit card bills.

[Jateng]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

it is always better to manage your income in such a way that you do not need to take loans. Proper planning and smart spending can help you avoid financial dependence on others. However sometimes situations is not in our control and then borrowing money becomes unavoidable. using a credit card is a wiser option because it removes the need to ask relatives or friends for money. Taking a loan from a bank also feels more reliable and professional. Banks provide a formal and secure system and this helps avoid discomfort or the risk of blackmail that can sometimes come with borrowing from personal circles. Using the credit cards save you from disclosing your financial crises. So on one hand it save us economically while other side it also keep us strong emotionally

[SUPERSAIAN]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

It really depends on the person using it and how and why they use it. I don't think it's very logical. You're using money that isn't yours, and interest accrues on that money, making you more and more indebted each time. I'm actually thinking of closing my credit cards soon because I can't control them well enough. Sometimes I find myself spending that money too easily, and that's disturbing.

[AYOBA]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

In this life we’re living in now nothing is enough for anyone. That’s why it’s not a good idea for someone to spend so much on what he/she is earning since the more sources income increases that’s how the spending also increases, which is why we can not pay for what we’re buying especially when everything are been so expensive now and we’re still expecting our sources of income to buy all our needs how is going to possibly.

[goro_chief]

VERY smart move. Because you are not spending your money, and anytime you are spending someone else's money, that is actually good. It is only a problem if you have hard time finding what seems to be the trouble and as long as you can do that then you are going to end up getting a better result.

I am sure that there are a lot of people who spend way more than what they can repay back and that is terrible decision and we are not going to get anything good out of spending more than what we can pay back. However, if you can spend a good amount, like something you can repay back at minimum, then you are keeping your own money and using it to make money until you have to pay back, that is a great way of using credit card.

I have heard stories of people who have taken advantage of loans by paying them off on time and gradually increasing them, who took advantage of investing in their businesses and did very well. The question would be which bank would be most profitable for applying that strategy

[Findingnemo]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

It really depends on the person using it and how and why they use it. I don't think it's very logical. You're using money that isn't yours, and interest accrues on that money, making you more and more indebted each time. I'm actually thinking of closing my credit cards soon because I can't control them well enough. Sometimes I find myself spending that money too easily, and that's disturbing.

Credit cards are the only type of loan that one can get with 0% interest rate, one should pay the bill on time to enjoy the 0% interest but many people just pay a small and carry over the remaining balance to next month's bill but this time there will be a huge interest and if one keep doing it every month then they are left with huge bill just only the interest is costing this much along with that it affect their credit score for very long time and having trouble getting in other kind of loans too.

[GxSTxV]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

 You are missing many important details about Credit cards, as not all banks are offering the same feature, that’s one. Secondly, not many countries and regions are offering credit cards at all and it’s very unfortunate for the population.
Despite so many cons each bank has for their term and rules, just like using the card to pay for expensive goods then working double to pay back the bank. We can take the good side where some people in certain situations are in need to pay for something urgently.

I know many people and siblings from Canada, and they are paying for many things, purchasing cars to help them travel, and so many other positive points, compared to for example my region that doesn’t allow any credits.

[Alone055]

That really depends on the person using it. For me, a credit card is just for convenience, and I make sure I can pay the full balance before the due date so they don’t make money off me. But if you’re someone who can’t afford to pay it off and ends up relying on paying the minimum due, then a credit card really isn’t good for you.

Exactly, credit cards are not for those who don't have a stable source of income, and have no clear idea whether they can pay off the funds they are using. Besides, I think banks don't give away credit cards to people who don't have a proper source of income, because banks also do verification from their side to make sure that they are not just giving away an easy way for those to spend money when they can't even pay it off. Using a credit card is like taking a loan that you need to pay back, so I don't think it's wise for anyone to take loans if they can't pay them back.

Credit cards are for businessmen, for people who make a lot of money, and they know they won't be worried about clearing their dues at the end of each month, it's not for people who struggle to get through the month with their earnings, because you can't freely use a credit card if you don't have a stable and strong source of income, it just doesn't work that way.

[Miles2006]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

The fact you only get what’s stated as the agree amount. There’s no point getting a credit card when you can’t pay back with the interest rate besides taking such loan should be done with caution probably only when facing a financial crisis. It’s likely obvious only those with a good job are applicable to owning a credit card as mentioned spending wisely also matters because spending more might lead to inability to pay back.

[slapper]

Every business operates on credit. Your employer probably uses lines of credit to make payroll. Your landlord has a mortgage. The whole system operates on promises about the future which are made jointly. We've just been taught that people making use of the same tool the corporations rely upon, is somehow not responsible. Why? I hear this take a lot and it always makes me think if we're solving the right problem. Credit cards are exposing something about our relationship with future versions of ourselves. Do you have the faith in yourself to make those choices that your future-self does not regret?

I used to think in your manner until I realised that I was confusing two different things. There's credit as an instrument and credit as a crutch. Using a card for cash back and paying on it off monthly is optimizing money you do have. That's just basic arbitrage. But yeah, if you are carrying a balance at 24% APR to buy stuff you can't afford, well that's another story. The card didn't make you do that though. It just made it easier to not look at what was already taking place.

[Davidvictorson]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

I do not agree with you completely that credit card makes you to spend more. I think that credit card would either make you to become a disciplined spender or a reckless one there is a reason why credit cards are being issued and you need to have your personal reason for wanting one if you don’t have a personal reason for wanting a credit card then abuse is inevitable. And one can also seek help for financial advice if they feel that their credit card makes them spend recklessly.

[fruktik]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

And no one will give me a credit card anymore because my credit history is ruined. I deliberately don't pay on time. Why? So they can blacklist me. I'm no longer tempted to spend money that doesn't belong to me. Money I haven't earned. So I don't make unnecessary and unnecessary purchases. Now I try to live within my means. Yes, it's very frugal, but I can sleep much better than when I had a loan.

[Oasisman]

The use of credit cards for me is unwise. You are spending money that’s not even yours yet. How sure are you that you can pay for everything you are buying now? No matter how good your source of income is, nothing is permanent. Credit cards only force you to spend more than what you can. Agreed?

Yep, there is always that temptation to use your credit card on something you can't afford yet, but that always depends on a person. If you properly use your card, it will going to be an advantage for you.
I have a credit card and I'm actually using it like a cash. I'm only taking advantage of their point system and other promos where I can get a huge discount.
I'm proud to say that I have learned this ability to control my desire to spend on something I don't need because I have a credit card. I did not even reach my credit limit once.
Therefore, credit card in my opinion is not bad if you learn how to use it properly. There are a lot of perks you can take advantage of as long as you treat your card as cash.