What are the pros and cons of having credit cards? Are they a good thing or a bad thing? Can they be both? Many feel that it is all in the way you manage your credit. If you pay your balances and don't 'overbuy' then it is okay. Tell me what you think. Share some of your personal experiences.
10 comments:
I have never had a credit card just a debit card. To be honest I am a little scared to get one because I wouldn't want to mess up my credit. It is a good idea to start building your credit. As long as you spend the money on the credit card you already have the money you should be good. Don't ever spend money you don't already have, you need to make sure you have a limit.
Credit-cards are a good option for people who are in a good economic condition to spend money and pay back right away not for people who don't know if they are going to be laid off next week or they are not sure about their economic status. but credit-cards are double edge they could help you to get what you want but they could destroy your life if you ever get a credit card try to spend at list 30% of your credit limit its easy to do the math for example if you have a $100 credit line spend only $30 bucks out of the $100 and pay back in full on my personal experience this has help me a lot because i could control my credit,my habit to spend money and to prevent to start digging a hole where i know Im not going to be able to come out.
Little by little every charge adds up along with the interest being charged to your accounts. Making it harder & taking you a longer period of time to pay it off. It's easy to charge anything to a credit card thinking you might just pay it off in the next few weeks, & reality kicks in when you see the extra charges on your statement & you realize you can't pay it off with one or two payments, it becomes more like 3-4 payments. We, most of us have to learn to live within our means & budget our finances. Credit cards should be for emergencies.
I have never had a credit card before, only debit. Above all i choose cash! Getting a credit card can ruin you as fast as it can help you. You need to be careful when using a credit card to help prevent against over spending or loosing your card or by theft. Someone should always be aware of how much money they have and be smart with it.
From my personal experience I would say credit cards can be both a good and bad thing for people to use. One good thing about having a credit card is that is helps people paid for certain things in a faster way such as the insurance for your car or the light bill. For example a while back my mother forgot to paid the light bill and the place were she usually went had already close,yet she was able to call and make the payment using her credit card. However, even thought credit cards can help someone pay for their things faster they can also get someone in debt too. If you overuse your credit card and do not pay on time the amount will keep building up and get you too have bad credit which can lead to problems.
I have yet to have a credit card because that is money I don't have. I prefer debt cards and I still spend money fast. credit cards are good for people who have a solid job. other than that if you give one to people tat are not working than they could easily get into major debt
One of the pros about having a credit card is that you can purchase everything you need and want when you’re low on cash. One of the cons is that if you don’t pay your monthly payment on time it messes up your credit. I personal don’t like credit card because I’m an over spender and i know i would go over my max therefore I don’t rely on them.
Personally having a credit card would be bad i would prefer a debit card better because a credit card can make you have bad credits
If you're able to handle your bills on time every month and not carry over a balance, credit cards are a great convenience. But credit cards also have their cons like Acquiring too much credit card debt can ruin your credit score. When you default on credit card payments, you are charged with late fees and interest, increasing your debt load. I prefer a debit card because it will make your credit score bad.
It all just depends on how you manage your money. Having a credit card can be good to build up credit to get a car, trying to buy a house, etc. But the cons of having too much debt can really be bad for your credit score, like you can be charged with late fees and interest. the pros of having a credit card can be good because you can purchased a product and just have a few weeks to get the money to pay the bill. Overall having a credit card can be good and also bad.
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