Are Credit cards wise?

[Furball808]

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?

[Kasabus]

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?

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.

[Fiatless]

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 will only spend more than you can afford if you lack self-control. People overspend when they buy what they don't really need. When you're using credit cards, it is wise to always calculate how you can repay your debt with your current income. Credit could be very helpful when you have pressing needs, but you don't have enough money to sort it out.

[criptoevangelista]

Reckless is spending your own money instead of the bank’s money. Credit cards are a marvel of the modern world. They can bring countless benefits, accumulate points that can be exchanged for cash or airline tickets, allow you to split payments with no interest, and enable financial maneuvers. There are endless possibilities. I personally use credit cards for 100 percent of my spending, and it’s been a long time since I last used my own money to buy things. If someone has problems with credit cards, that is basically a flaw in their personal financial management, not a problem with credit cards themselves.

[bitzizzix]

Credit cards are simply tools that can help us achieve our desires without using cash, and their benefits or risks depend entirely on how we manage them.
Credit cards can be a wise financial instrument if we use them wisely, within our means, and with careful planning before using them. Credit cards also give us the flexibility to postpone payments when shopping, especially when we're in town or even abroad, but this must be done wisely so as not to exceed our means. Whether a credit card is used wisely or not depends entirely on who is using it.

[Republikcoin.com]

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 need to examine this from two different perspectives. On the one hand, it makes things easier for some people who need money immediately, even though it might not seem easy to pay the bill. However, when there's an emergency, everyone can rely on it as a first option if there's no other wiser option. This means that credit card use shouldn't be careless or wasteful, as you can pay off the installments later. So, this also depends on how each person uses it, because whether a product is good or bad depends largely on how it's used.

[WillyAp]

CreditCards are an excellent tool to build a credit score.
Only narrow minded people cannot stand that the banks earn a few $ with them.
You need to give in order to receive.

No wonder why so many people believe that the money of the wealthy should be in their wallets. 

[Dick Long]

What works for me may not work for others, no matter how small my income may be, and I have self control I can manage my resources well. The use of credit cards are mostly for emergency, solve problems that can't wait for later and not to be spent unnecessary.
Credit card is good for people with hi self control and minimize stress of financial constraints when I a tight corner.

[passwordnow]

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 whoever owns and uses credit card is aware that they don't own that money and that's the power of leverage. Don't call all of the users as unwise because you probably don't understand why others like it because they are responsible credit card owners and they have rewards aside from spending money that isn't theirs. As long as they're paying their due at the right time, there is no problem with that and it's much better if they have a cc that has no annual fee. I have friends who are good and wise spenders of it but even they convince me, I don't like to have it.

[salad daging]

CreditCards are an excellent tool to build a credit score.
Only narrow minded people cannot stand that the banks earn a few $ with them.
You need to give in order to receive.

No wonder why so many people believe that the money of the wealthy should be in their wallets.  

Not only do they improve their credit score for credit card use, they also get other benefits; as I know where there are always shopping discounts, cashback, redeemable points, 0% installments and many other benefits.

Of course this must be used wisely, don't make the mistake of using a credit card to be consumptive especially if you don't have the ability to pay back the due date later, you can get a higher fine, so this must be adjusted to urgent needs only or more precisely consider it before use.

[livingfree]

Credit cards only force you to spend more than what you can. Agreed?

It is the same for earning more. Even if you don't have credit card but if you're an impulsive buyer even with so much you make, you'll still forced to spend on nonsense things.

For someone who's got a good credit score and are responsible credit card users, they know how to use it.

They're not the same with those people that are using credit cards as if it's their own money and are not on timely payments.

[whiteblue]

Isn't that the same as being in debt and you will be charged at the end of the month, it's not a wise choice at all, I don't like debt. it's better for me to fast to buy something that I don't need to buy or can't afford yet, why are many people so forced to buy and rely on credit cards that are issued, they have a hefty interest rate that also drains the wallet at the end of the month.

And my point is, how will someone pay at the end of the month if in the middle of the month you are fired and don't get paid anything, how will the bank punish you when you can't pay for what you have bought with that rotten card.

[libert19]

I don't have credit card, but I do use pay later services on ecom sites like Amazon which are similar to credit cards, I make sure amount I take on credit is which I can clear dues of, and so far it's never been a problem; this also increases credit score which I like as I like to think, it may come handy.

[mindrust]

They can be wise if you extract value out of them by chasing their promotions and bonuses. Otherwise their benefits are very limited or they can even harm your finances and credit scores, especially if you don’t pay your credit card statements on time. They charge insanely high interest on your credit when you forget to pay them and that’s a huge cost. Using a credit card is a very nice life luxury and can be a very profitable one if you are responsible with your finances. Otherwise it will become a major cash sink. Just like every other financial tool, the wielder of the to decides the usefulness of that tool. Give the same credit card to an irresponsible guy he will get bankrupt in no time. Give it to a quant, he will make it sing.

[WatChe]

I do agree with what OP says about Credit cards. They are created by banks for there own benefits but they advertise in a way that it looks beneficial for the customers. Banks lure in customers for credit cards by showing attractive promotions.

I have people in my circle who have credit cards and there whole salary is reserved for paying the credit card bills. That's why I prefer to use debit card and spend what's in my pocket rather then buying today and paying later. With credit cards, we develop the habit of buying unnecessary things also.        

[capokmerah]

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?

We can't say that using a credit card is unwise. I disagree.
People's interests are clearly different, including those of credit card users. Perhaps some people use credit cards unwisely or without self-control. But I also strongly believe that many more people use credit cards to make things easier, and it actually becomes a valuable part of their lives. I often encounter credit card users who treat them as if they are essential and facilitate their financial management.

[Fortify]

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?

For anyone who has not used a credit card they can seem like a daunting proposition and they can be dangerous if you're not careful about your finances. Credit card companies will happily portray them as joyful, easy spending and throw them at anyone to use even if they don't understand them. You get a credit limit and it can seem like free money, but then if you don't pay it off each month they start to charge you a lot of money for the privilege. So you absolutely must pay off the full amount each month, by the statement due date, otherwise you should steer well clear of these financial tools. They can be very helpful and actually work in your favor, sometimes giving extra spending protection, but only if you use them properly.

[Bluedrem]

If a person has proper money management, why would a credit card encourage that person to spend extra money? I think credit cards do not play a role in spending extra money. If someone wants to spend extra money, they can spend it from there even if it is cash. And if we talk about the issue of usage, then I would say that in the interest of technological development and the welfare of technological development, credit cards can be used effortlessly in most places nowadays. The above credit card frees you from carrying extra money and at the same time you can keep a proper account of your money expenditure using credit cards. What can I say, credit cards are not responsible for spending extra money, but a person's attitude is responsible.

[Creeper0]

I agree with you to some extent. However, if you can control and discipline yourself, it is possible to control your spending. Credit cards allow you to buy without worrying about money, which is not yours. Banks use this trap to attract people to accept credit cards and trap them with interest. When you do not have money and you need to buy something, you may think of borrowing from someone, without interest. But when you have a credit card, you are spending from the card, while you have a credit card, you definitely do not think of borrowing from anyone.

This mentality is used to put people in the maze of interest and the frogs make profits. I think, spend as much as you earn, there is no need to spend more money with other people's money. Credit cards destroy your financial management.

[moneystery]

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 depends on the user. If you don't have control over your credit card, you can overspend, which will ultimately become a debt that will burden you forever. But if you can control yourself, having a credit card isn't that bad. It offers convenience and many bonuses, such as cashback or points that you can redeem for various products, some providers even offer 0% interest on their services, which is very beneficial for users.
I personally use a credit card from one provider, and it comes with 0% interest and no annual fee, there's cashback per transaction also. I use it every day and pay the bill in full at the end of each month, there are no hidden fees and the bill matches my spending. It really helps me actually. The point is, you understand how to use it wisely and smartly to have a credit card service that's friendly to your pocket.