Credit Cards

tonadax

It's Credit Card really necesary? 9 of 10 people always tell me sad stories about their credit cards debts...... i'll always try to pay my payments Cash, of course i don't have issues like having babies, married thing, etx.........

orig_long red

i have one but i never use it ... i have a $4,000 limit and i only plan on using it for extreme emergencies ... like if i'm stranded in Vegas without pants ... that kind of thing.

Cree Nations

I only use my credit card for business expenditures and I pay it off at the end of the month when I get remibursed. The bonus is that I am racking up all these points

lalalalaaaaaaaa

If you ever wanna buy a house, then it's necessary to build up your credit score I think, yeah.

eMMI

Credit Cards can come in handy, if you've got enough self control and can stop yourself from using them too much. I got a credit card for last summer cause I did quite a bit of travelling and hotels are so much more fuss-free to pay with a credit card.

know1

I do not think they are necessary. They are not a requirement for home ownership although some people feel that they are.

I use my debit card for everything.

audiodave

I can see the point of them, but I don't have any. For instance, if you get paid monthly, and you need to pay bills/buy things during the month you can use your credit card to do so, then pay off the balance when you get paid.

The reason I don't have one is that i'm a student and have no stable income...getting a credit card in this situation is suicide. That being said, it would be very easy for me to do so, and i've even been pressured to do it before by my back even after I said no. A lot of people my age seem to view credit cards as "free money", and when they get into trouble their parents have to come to the rescue.

So I can see the point of them, but I think there should be stricter regulations on who gets them and when.

eMMI

audiodave wrote:

I can see the point of them, but I don't have any. For instance, if you get paid monthly, and you need to pay bills/buy things during the month you can use your credit card to do so, then pay off the balance when you get paid.

The reason I don't have one is that i'm a student and have no stable income...getting a credit card in this situation is suicide. That being said, it would be very easy for me to do so, and i've even been pressured to do it before by my back even after I said no. A lot of people my age seem to view credit cards as "free money", and when they get into trouble their parents have to come to the rescue.

So I can see the point of them, but I think there should be stricter regulations on who gets them and when.

my thoughts exactly! some people seem to find it hard to understand that they are going to have to come up with the money they've spent at some point.

chromiam

Yes....

as I look at upcoming AMEX travel deals I really can't afford

audiodave

eMMI wrote:

my thoughts exactly! some people seem to find it hard to understand that they are going to have to come up with the money they've spent at some point.

I think some of it is people being naive, thinking that they wouldn't be given a credit card if they couldn't afford it. A lot of it is down to the companies dealing them out FAR too easily.

I think some financial responsibility should be taught in schools thesedays, as a lot of people really have NO CLUE.

eMMI

audiodave wrote:

I think some of it is people being naive, thinking that they wouldn't be given a credit card if they couldn't afford it. A lot of it is down to the companies dealing them out FAR too easily.

I think some financial responsibility should be taught in schools thesedays, as a lot of people really have NO CLUE.

true. I've only got a few friends who have got credit cards and their feelings about using them are the same as mine - only in emergencies.

that's not a bad idea. or if not in schools, parents should try and get some sense in their kid's heads too! some parents unfortunately seem to live by the idea that kids will learn best by making huge mistakes and learning from them. which of course is not a bad way to learn.. except when it comes to finances.

Stone Is God

long red wrote:

i have one but i never use it ... i have a $4,000 limit and i only plan on using it for extreme emergencies ... like if i'm stranded in Vegas without pants ... that kind of thing.

Sounds like my kinda weekend!

dunkman

i use it to buy internet purchases as then i'm guaranteed against fraud... although phoning up the credit card company to say that LadyBoyDVD6969 didnt send my dvd's can be embarrassing

GreenTeaDisease

audiodave wrote:

I can see the point of them, but I don't have any. For instance, if you get paid monthly, and you need to pay bills/buy things during the month you can use your credit card to do so, then pay off the balance when you get paid.

this is a big reason people use credit cards.

I don't like to use my debit card if I'm buying things online or like plane tickets or hotels and stuff, so now I mostly just use them for that.

AmentsChick

I don't have any credit cards.

Jennytree

I use it mostly for buying stuff online, because nowhere online excepts my debit card. Also, before I got my debit card, I used the credit card abroad - much better than carrying a load of cash I find it very very useful, but I see how people can get very carried away here.

Solat13

AmentsChick wrote:

I don't have any credit cards.

Really? I have 5. Two debit cards, an am ex for rewards points, a visa I get frequent flier miles on, and a master card that I signed up for after the World Series to get an autographed Manny Ramirez batting helmet.

GreenTeaDisease

Jennytree wrote:

I use it mostly for buying stuff online, because nowhere online excepts my debit card. Also, before I got my debit card, I used the credit card abroad - much better than carrying a load of cash I find it very very useful, but I see how people can get very carried away here.

it's not really the spending that gets you a high balance, it's the interest. I used my credit cards for necessities for a while because I had too. It wasn't *that* much money all told. but my balances are huge because of the finance charges, still, years later. You won't get "into trouble" however if you at least make the minimum payment every month. it's like having loan with really high interest. Now that I have job again I try to pay double the minimum every month.

Jennytree

GreenTeaDisease wrote:

it's not really the spending that gets you a high balance, it's the interest. I used my credit cards for necessities for a while because I had too. It wasn't *that* much money all told. but my balances are huge because of the finance charges, still, years later. You won't get "into trouble" however if you at least make the minimum payment every month. it's like having loan with really high interest. Now that I have job again I try to pay double the minimum every month.

oh well of course. I once got into a li'l trouble with my credit card, and found it cheaper to get a loan to pay back the card, rather than keep the balance on the card. I've learned my lesson since then...

LikeAnOcean

I use mine for convenience only and to build my credit.

chromiam

Solat13 wrote:

Really? I have 5. Two debit cards, an am ex for rewards points, a visa I get frequent flier miles on, and a master card that I signed up for after the World Series to get an autographed Manny Ramirez batting helmet.

Yeah think I have about the same... AMEX, Home Depot MC for rewards (great with home improvements), Circuit City Visa (not used but came in handy for no interest TV purchase), Sears (not used got for no interest on appliance purchase), MC with low rate, and a Discover...