Are Credit cards wise?

[suhadi88]

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 there are many advantages and many disadvantages. It depends on how we use it and how much money we earn. The difficulty with using a credit card is the numerous additional fees and the numerous confirmations of offers from various parties.

We think using a credit card is safer and more private, but it's not. Our contact numbers are shared with various parties, and we find out when they call us with various offers. Another problem is that when we close or pay in installments, the monthly fees seem endless. This is my personal experience, and I've experienced it, and now I've stopped all of it. Normal is better.

[summonerrk]

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?

Credit cards are a phenomenon that greatly distorts the concept of money in the modern world. After all, we're often limited by budgets and, at best, can borrow a little money from relatives.
But when we get our hands on a credit card, we immediately recall all our financial desires and begin to fulfill them, forgetting that we'll have to pay back the money later, along with interest. Unfortunately, the brain wants pleasure here and now, and it absolutely hates to think about the consequences. And the consequences will come anyway, because we're all under the control of the banking system.

[eightdots]

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?

Credit cards are a phenomenon that greatly distorts the concept of money in the modern world. After all, we're often limited by budgets and, at best, can borrow a little money from relatives.
But when we get our hands on a credit card, we immediately recall all our financial desires and begin to fulfill them, forgetting that we'll have to pay back the money later, along with interest. Unfortunately, the brain wants pleasure here and now, and it absolutely hates to think about the consequences. And the consequences will come anyway, because we're all under the control of the banking system.

Credit cards offer convenience, but they also have disadvantages. Some people buy things they don't need and make unplanned purchases. Credit cards enable shopping, and this convenience can mean spending money you don't have. One thing to remember is to only spend what you can afford to pay for.

Buying things isn't difficult these days, but being able to pay without problems is important. Some people don't use credit cards at all and spend only what they have in their pockets. This can be a way to keep their finances under control.

[summonerrk]

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?

Credit cards are a phenomenon that greatly distorts the concept of money in the modern world. After all, we're often limited by budgets and, at best, can borrow a little money from relatives.
But when we get our hands on a credit card, we immediately recall all our financial desires and begin to fulfill them, forgetting that we'll have to pay back the money later, along with interest. Unfortunately, the brain wants pleasure here and now, and it absolutely hates to think about the consequences. And the consequences will come anyway, because we're all under the control of the banking system.

Credit cards offer convenience, but they also have disadvantages. Some people buy things they don't need and make unplanned purchases. Credit cards enable shopping, and this convenience can mean spending money you don't have. One thing to remember is to only spend what you can afford to pay for.

Buying things isn't difficult these days, but being able to pay without problems is important. Some people don't use credit cards at all and spend only what they have in their pockets. This can be a way to keep their finances under control.

Credit cards are only good for those who have self-control. This applies to a small percentage of men and very rarely to women. Women are impulsive and rarely have a plan for spending. Often, if they have extra money, it's not used for investments, but rather for impulsive purchases.
I think banks know this and try to market their credit cards more to women than men. But even among men, there are plenty who live without a plan for the future, simply for today. For them, credit cards are certainly dangerous.

[ancafe]

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 your needs, although I personally tend not to use credit cards because I don't really need them and ATMs are already available. If you're careless with your credit card use or overuse it, it can be difficult to limit yourself. I've also seen some wealthy people in my area not use credit cards, arguing that they shouldn't use them when they already have enough money and can easily manage it using a regular ATM provided by the bank.

Using an ATM card only accesses your own funds, while a credit card uses borrowed funds from the bank that must be repaid later. If we could differentiate between the two, perhaps our use would be based on our own interests and for the general public like us ATM use is much wiser than credit cards.

[philipma1957]

So at the moment I have about 9,000 in debt for some mining gear.

I HAVE UNTIL Dec 2026 to pay it. Zero interest on that.

I GOT BACK 180 in bonus for the spend.

I GET TO WRITE OFF 9000 against my mining income for 2025.

So once again using cc's makes money for me.

[Cheema02]

I don't have a credit card but I do have a debit card. I don't use my debit card too often. A credit card gives you ability to buy something by credit but you must pay the loan in the end or next month. You can use credit cards but wisely because you should check how you will going to pay.

If you don't have much money from your income, you can't use credit cards freely because you have a loan to pay. Yes, I agree that credit cards only force you to spend more than you can afford. So you need to be careful using credit cards and not waste the function.

Your point is really valid about the usage of credit cards. Credit cards forced to spend more than you have therefore a barrier can built between buying something which often leads to high interest level. Through debit card we can be careful about our budget and we use the cash very wisely and avoid to purchase some extra stuff to balance the financial stability. On the other hand credit card offers you some extra credit which can be used in future as a credit points but if you don't use it wisely then a huge amount of loan you mau be paid later. So if we avoid mental stress in our finances then we should use debit card instead of credit card because it teach us discipline how to manage money and expensive and also credit card may help to financial stability but if we can use it wisely.

[Emitdama]

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.

Given that, credit card money is not ours, then it really can make someone to think of spending more or even using it all and then not paying at the end. And if we are a disciplined spender, then we won't come to the point of getting a credit card because we still have a lot of funds left in our stash.

The main reason would be on why a credit is issued, is for the banks to earn more from those lavishly spending people. There's naturally more of them though. So, targeting such people must be a very big business for the banks and world wide all the governments are supporting bank to have similar business with credit cards.

[philipma1957]

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.

Given that, credit card money is not ours, then it really can make someone to think of spending more or even using it all and then not paying at the end. And if we are a disciplined spender, then we won't come to the point of getting a credit card because we still have a lot of funds left in our stash.

The main reason would be on why a credit is issued, is for the banks to earn more from those lavishly spending people. There's naturally more of them though. So, targeting such people must be a very big business for the banks and world wide all the governments are supporting bank to have similar business with credit cards.

If everyone did what I did with cc's they would need to change rules for them.

And in fact they have made them not as good as they were for me.

[Findingnemo]

If everyone did what I did with cc's they would need to change rules for them.

And in fact they have made them not as good as they were for me.

Fewer cashbacks, fewer rewards, and very few Lounge access.

But there are lot of spenders out there who don't hesitate to drain their credit card limit on new Iphone or upgrading their Car wheels or gifting their girlfriend until they hit them with the bill amount and try to carry over next bill and so on that is when banks bank a shit load of money.

[Yamifoud]

Credit cards are wise and useful if you can use it effectively by spending according to your budget limit, not spending having sky is the limit. Otherwise, if you see this as an opportunity to get your dream gadgets easily that it isn't on the plan, you will get rekt with your finances in the end.

Credit cards do not exist in order to sustain our life's luxury, but its there to help us so we can get our needs and pay it in an installment basis. Its there to aid us financially, where we can still buy those basic necessities even without available cash, as long as we are capable to pay our expenses through our monthly earnings, be it from a job or a business.

[bitgolden]

I agree with people who say that it depends on how you use it. I have seen people buy stuff they do not need with credit card because they do not have to pay it all at once in a single payment, but that is not a smart move. Credit card is good for business owners, because you get paid for your business but then you buy whatever you need with credit card so you do not have to pay up right away, that helps a ton and does a lot better for the long term. Most misuse credit cards and that's why it looks bad.

[Rgram]

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?

Credit cards are a phenomenon that greatly distorts the concept of money in the modern world. After all, we're often limited by budgets and, at best, can borrow a little money from relatives.
But when we get our hands on a credit card, we immediately recall all our financial desires and begin to fulfill them, forgetting that we'll have to pay back the money later, along with interest.

I wouldn’t know because, since I haven’t got my hands on one yet and out here, you find debit cards to be the most common.

Credit cards is a hard to find where I’m from but, the various credit facilities that does have exists have being used in the most unworthy ways, where creditors have to use uncivil means in trying to recover their money and a lot of these loaned money ends up unpaid.

I don’t think it wise for uncultured persons as, it could easily lead to wild spending without having to think of the time and discomfort it would take to pay it back.

[Wind_FURY]

I do not use credit card rather a debit card.. Most time using credit could be good when your payment or salary hasn't come for the week/month but I think there should be a limit to how much you could spend while using your credit card, my debit card I personally go the bank to set some daily/monthly limits where I can't spend above my daily and monthly limits. With this it helps to regulate how I uses my funds on daily and monthly basis, moreover I do not mostly leave my income or payment in bank rather In bitcoin.

Because of the reasons given in my posts in the topic, I believe you should start using yoyr credit card, then use the savings you have in your debit card to pay for the expense in the credit card RIGHT AFTER you made the purchase with your credit card

- The credit card is safer because the bank can merely erase the fradulent spend if your card was hacked/exploited. The bank would take about three months before they can credit the money back in your debit card account if it was hacked/exploited,

- Using the credit card would improve your credit score and increase your credit limit, assuming you use it responsibly. That could make it easier for you to get a bank loan if you need it.

- You're using the banks', printed, money instead of your own money if you use a credit card. They're taking the risk. Use that privilege.

 

[stompix]

- The credit card is safer because the bank can merely erase the fradulent spend if your card was hacked/exploited. The bank would take about three months before they can credit the money back in your debit card account if it was hacked/exploited,

This is an American thing from the 90's!
I wanted a refund from a seller, he kept bs me about the package, I called my bank ,sent them the paper and the parcel order, my money was in my account in 2 days, paid with a debit as I don't use my card.
Just move to another bank, I had like a dozen chargeback claims on my ING debit card and not even once have they taken more than a week to get a refund.

- You're using the banks', printed, money instead of your own money if you use a credit card.

So what happens when you pay your credit card? They burn the money, or what? 
Or the money the seller got becomes real money and your turn into printed...
Are the coins I would get if I would take a loan from shasan printed bitcoins? 

[summonerrk]

I agree with people who say that it depends on how you use it. I have seen people buy stuff they do not need with credit card because they do not have to pay it all at once in a single payment, but that is not a smart move. Credit card is good for business owners, because you get paid for your business but then you buy whatever you need with credit card so you do not have to pay up right away, that helps a ton and does a lot better for the long term. Most misuse credit cards and that's why it looks bad.

I also believe that credit card abuse creates this negative connotation around the word "credit." When I was just starting out in investing, I took a risky step and applied for a bank loan to start building my deposit. It was scary, and the annual interest rate was around 20 percent, but it didn't scare me, and ironically, I was actually able to use the money well because there was a Bitcoin bull market at the time.
But I think the success rate of credit cards is about 1 in 19 out of 20.

[Wind_FURY]

- The credit card is safer because the bank can merely erase the fradulent spend if your card was hacked/exploited. The bank would take about three months before they can credit the money back in your debit card account if it was hacked/exploited,

This is an American thing from the 90's!
I wanted a refund from a seller, he kept bs me about the package, I called my bank ,sent them the paper and the parcel order, my money was in my account in 2 days, paid with a debit as I don't use my card.
Just move to another bank, I had like a dozen chargeback claims on my ING debit card and not even once have they taken more than a week to get a refund.

Probably. But it still doesn't compare the advantages that you get in your credit score if you're given the privilege to have a credit card.

In our Dystopian World today your credit score could open many opportunities for you.

- You're using the banks', printed, money instead of your own money if you use a credit card.

So what happens when you pay your credit card? They burn the money, or what?  
Or the money the seller got becomes real money and your turn into printed...

Study how the system works, ser.

  ¯\_(ツ)_/¯

Are the coins I would get if I would take a loan from shasan printed bitcoins?  

You're trying to debate another point that's out of context of my post.

I'm merely trying to tell OP that there are advantages in owning a credit card.

[Renampun]

It's wise, if you understand how to use it, if not it will be a disaster for you because when we use a credit card, we are essentially taking on debt, using the provider's money to pay our bills first and then paying them later. but if we can't manage our finances, what happens is we continue to make minimum payments and without realizing it, the bill continues to pile up because we keep delaying full repayment, and this leads to increasing interest and fines, ultimately making the debt even bigger and more difficult to repay. this will trap us in long-term debt.

using a credit card should be equated with the ability to pay, because if used wisely, we can take advantage of points or cashback, and manage our budget strictly, so that credit cards can be a tool that helps build healthy credit and supports long-term finances.

[puloweh555]

I agree with people who say that it depends on how you use it. I have seen people buy stuff they do not need with credit card because they do not have to pay it all at once in a single payment, but that is not a smart move. Credit card is good for business owners, because you get paid for your business but then you buy whatever you need with credit card so you do not have to pay up right away, that helps a ton and does a lot better for the long term. Most misuse credit cards and that's why it looks bad.

Correct. This is the same as debt. Not all debt is bad as long as it's for productive purposes, but it's for consumer purposes that's what's bad. It's the same with using credit cards, there are pros and cons, depending on the individual user.

Essentially having a credit card is bad if the user can't control themselves. After all credit cards offer convenience. Points can be used for future purchases, there are discount programs, and so on. But if you can't control yourself don't use a credit card.

[Mate2237]

I don't see anything wrong with the idea of credit cards I think that, you are asking this question because in part of the world were you finds yourself your government has tried to simplify everything for the citizens. Giving citizens credit cards were they will use and pay later which is a very good idea and thing to do by the government. Until you lose a you may not know and understand the true value of a thing that is why you are asking this question.


Credit card will help you going even if you don't have money in the main time. In my part of the world you work for everything which is demanding there is nothing like credit cards. So you have to appreciate what you have, off course there will be abouse but all that depends on individual differences.