Dumb question
LikeAnOcean
Posts: 7,718
Is there any real need for a credit card?
I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.
Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
I have one and use it, but pay it off every month, so I'm not seeing the point of it besides convenience.
Can I use a bank debit card for pretty much anything these days?, or am I missing something I might need a credit card for?
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keep it but don't use it...you might need it for an emergency that your debit card couldn't handle
Definitely! If anything the credit cards show you are credit worthy. Be sure to use the card monthly for something though, credit card companies are terminating cards that are inactive for a period of time. And as others have said they offer protection for big ticket items you may purchase. Plus if you do have a dispute with a merchant the credit card companies usually refund your money right away, unlike a bank debit card.
So there are positives for both. Stay out of trouble and don't pay any interest by using a debit card, but keep an active credit card to prove that you are credit worthy.
I did so well with it, after a year they upped it to $600.
I did so well with that, they then offered me the option of making it unsecured with a limit of $3000. I've done well with that...until I maxed it out last summer with PJ in Chicago and giong to ATL to see the in-laws for Thanksgiving.
Meh, I make my monthly payments and then some. It's almost paid off. I figure, if you're responsible, and use your credit card for things that you can't put together cash for immediately but know you'll be able to pay off, then use a credit card. However, I would not recommend it for everday expenses (going out to lunch, gas, buying cd's and shit).
That being said, I only have one credit card, and that's all I'll ever have. It's done good for my credit score. I'm only 21 and have been told by bankers that my credit score is "excellent" for my age.
Like I said, if you're responsible with money...what's the harm in having one and using it once in a while for big purchases that you know you'll be able to pay off in a reasonable amount of time.
6/12/08 - Tampa, FL
8/23/09 - Chicago, IL
9/28/09 - Salt Lake City, UT (11 years too long!!!)
9/03/11 - East Troy, WI - PJ20 - Night 1
9/04/11 - East Troy, WI - PJ20 - Night 2
Correct....credit cards should be used as interest free 21 day loans. If you can't pay it off in 21 days don't purchase it with a credit card. Also internet purchases should be completed with credit cards. If there's a glitch and you're charged for $1000 instead of $100, or if you hit the "submit" button 3 times instead of once and you're charged 3 times; that money is gone until the company fixes the error if used with a debit card.
I have never been in debt.
My credit card balance is getting large.
Kind of need it to buy food and things.
Unemployment barely covers my mortgage.
My credit cards are kind of important.
We paid for the show tickets when they went on sale and then paid it off in the new year. If we didn't have a credit card we wouldn't have been able to go on tour.
Having a credit card also allows us to build a good credit rating... We'll need one of those when we decide to buy our own house for example...
... and I still think Drive-By Truckers are better.
If you are responsible and pay off every month, a credit card it great - 'spend' your money, but it's still in the bank earning interest. Depending on when purchases are made, credit cards can give you up to 6 weeks interest free credit. And as others said, needed for credit rating and also a 'just in case' for an emergency (and no, funding your PJ tix and following them around Europe and the US when you can't afford it is NOT an emergency!
I'm not so sure about that... :think:
... and I still think Drive-By Truckers are better.
Well.. it definitely is not an emergency but maybe you can say it's a medical expense - dealing with obsessive behaviour!
I'm gonna try that approah... :twisted:
*scurries off to text Dave*
... and I still think Drive-By Truckers are better.
i used to work at sears - who's main interest nowadays is basically selling their credit cards - and people used to cancel their card and get new ones a little while later just to get the 10 dollar discount on their purchase.... they were oblivious that they were ruining their credit.
generally speaking, if i don't have cash, i don't buy it.