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m2017

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Quote from: cafter on April 11, 2023, 01:12:18 PM

~snip

There are no bad tools. There is a lack of ability to use them. A credit card is neither good nor bad. How it will affect your life will depend on how you use it. You have already learned from bitter experience and realized that if you don't control the use of a credit card, then this promises big losses. You overpaid large percentages for the use, right? You need to try to use the advantages and minimize the impact of the disadvantages of a credit card. In general, it is wise to use wisely, and unwise use will be unwise.

It sounds a bit absurd, but that's how it turns out.

If you are afraid of getting into debt again, then it is better to switch to using bitcoin. Wink

Aikidoka

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To be honest, I have never applied for a credit card. I prefer to live a debt-free life and avoid the stress of dealing with card interests. I already have a lot to deal with in my life and I don't need those additional worries. Even tho I know that credit cards can be beneficial at times for small online purchases but it's really important to maintain control over your expenses and avoid exceeding your limits.

It's good to keep in my that it's easy to lose control and become enslaved to credit card debt even at an older age. Therefore, it's important to be aware of the risks associated with credit cards and to manage your spending wisely.

If you are a responsible person who can pay off their credit card debts on a monthly basis as soon as you receive your income, then it may be a suitable option for you. However, if you prefer to live a life free from being controlled by the money you owe, then it's better to avoid using credit cards.

ringgo96

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Currently there are indeed very many companies that have relied on credit cards to get an item we want, and we have seen many credit card users among the public, but I am not interested because by using credit cards we will feel more burdensome when our income is unstable and our obligation to pay credit must continue to run according to the provisions we have agreed, If I really can't buy an item in cash, then I will not use a credit card even though there is a special offer, but in the end there is still a very big burden.

KiaKia

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I don't use credit card and I won't be using it till the end, the debt on that thing is crazy, I've heard stories from old men using credit cards and I don't ever want to be on such a journey in my life, I know that credit card has it's advantage but I never like debts, it never works out for me because I found myself not moving forward.

I prefer using wired transfer for big purchases and Fiat for small purchases, I am good with this, and if the store accepts Bitcoin or other crypto it will even be more interesting, I like using crypto for payment because it's less stressful and more secure than using fiat currency. Everyone is entitled to doing what they feel is right for them but this is me.

xSkylarx

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Quote from: SquallLeonhart on April 18, 2023, 01:19:45 AM

Quote from: xSkylarx on April 17, 2023, 07:29:49 AM

it is more better to have not a credit card right? I don't know if we are the same view but for sure you'll be tempted to buy those things as you have your credit card with you , to force your self not to buy those things it is better to have cash or something card like debit/visa card that has money on it and then swipe it if ever you buy something because that is for sure you can buy it as you have your money with you unlike in credit card that you will do it monthly meaning you don't have money on that

It is not about temptation, it is about the fact that if you can't afford something but really want to buy it, then you could either make a mistake or you could make a calculation. Credit card doesn't mean that you have to pay it right now, it means you could pay it small by small per month, so you do not have to pay it now.

We need to get rid of the mindset that debt is bad, debt could be good under so many situations and in this case it means credit card should be used that way. For example if you pay it in cash, then you pay it in cash, but if you buy something that goes up in value because of inflation, and you pay with credit card and take it in 12 installments, by the time your debt is paid, it will worth even more and you would profit from it.

Now that I've got the point, let's say I want to buy a car but I can't afford it in cash, so I could pay it with a credit card, right? and pay an installment, let's say for 12 months. Well, that's a good example, so this credit card thing is really good only for those huge amounts of purchases, and it is up to us, the customer or user, if we will spend it right, like not on those expensive clothes or etc.; it exists to help us buy those things that we can afford in cash.

Altryist

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Quote from: Poker Player on May 04, 2023, 12:35:07 AM

Since you quoted that part that I wrote, you could also quote the rest where I explain that very few people use them in a perfectly rational way. Rewards such as airline miles are highly profitable for companies, and what they do is encourage them to spend more, making it very profitable for the company and for the user in most cases and even if they don't realize it, no.

I also explained in a previous post in this same thread the concept of friction. Several decades ago, companies were reluctant to accept credit cards because they had to pay commissions, but they soon carried out studies and realized that people who use cards end up spending more, with what the company has to pay the commission and still earn more.

That's right, people who are in the habit of using a credit card to pay, spend more money, because there is no moment when people give cash themselves, the moment of parting with money is easier. Online payments have become part of our reality and it is hard to imagine our life without online banking. The most important thing is to use the balance of your money and not have the habit of using credit funds, or reduce the credit limit to the minimum values so as not to spend more than you should.

molsewid

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Quote from: Iadegbola34 on May 04, 2023, 05:28:47 PM

Using a credit card can be helpful for building credit, but it's important to use it responsibly. Keep track of your spending, pay off the balance in full each month, and avoid carrying a balance that will accrue interest over time. If used wisely, credit cards can be a valuable tool for managing your finances.

I agree, also some of my friends prefer to use credit cards in their daily purchases so that they can monitor their expenses and we all know that cc has limit so once they reach the limit they will stop. That's what I learned from them and maybe I will apply it as well if I will be approve to my cc. Some people treat cc as bad thing but the thing is it is not and it can be very useful.

Negotiation

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Credit Card is one of the most popular means of transaction worldwide with a credit card, you can make more purchases than you normally would. It has a fixed credit limit up to which you can spend money currently, this card can be used to make purchases while shopping in many shopping malls. Besides, if you take the dual currency facility of this card, it can be used for international transactions as well the use of this card is increasing day by day for these features.

Iadegbola34

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Using a credit card can be helpful for building credit, but it's important to use it responsibly. Keep track of your spending, pay off the balance in full each month, and avoid carrying a balance that will accrue interest over time. If used wisely, credit cards can be a valuable tool for managing your finances.

nara1892

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Quote from: karmamiu on May 03, 2023, 03:41:48 PM

Quote from: nara1892 on May 03, 2023, 01:20:04 PM

When we feel that we still have a balance to use, we usually forget ourselves and we are lulled by that comfort, in the end usually someone who has a credit card will be in a bind because they can no longer afford to pay bills every month. I think this is a kind of trap, indeed we will definitely find it easier when we have a credit card, the problem is from the convenience that problems will come. Especially if we can't control the money we use to buy something, it will get us in trouble later. I personally prefer not to have a credit card, because it's risky in my opinion.

If I have another option to pay for the bills without resorting to credit card then I will choose that rather than the card. As what mostly credit companies used scoring to determine whether you are a good creditor or not, it is also another form of disguused benefit so that users will have to use credit card more often to make their scores good, and that is one of the traps being set in order for them to gain more users.

That is indeed a good thing to do, because indeed something like that can be a limit for ourselves because in this case for now if we do have that (credit card) then we are like having a collateral and we are too comfortable which makes us too comfortable and trying to keep buying because indeed it can be paid in installments even though this is actually the problem.
At first it won't really feel like much, but the longer it takes, the more clearly we will get entangled with the position of paying every month at a higher cost than what we should spend.

Fakhrulenclix

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Quote from: Wong Gendheng on May 04, 2023, 05:29:18 AM

The offer to use a credit card is indeed tempting anyone, especially those who used to replace gadgets, they will get convenience in debt with credit cards, but we must be smart that the offer of convenience can be the thing that makes us bankrupt because credit card interest is very high, it's better to live a simple life And don't be tempted to buy with debt.

there are two possibilities when we decide to use a credit card, first we will get convenience and allow us to be able to control our finances properly and secondly we will experience ruin even though it is not the fault of the credit card but mistakes we make ourselves able to manage expenses.
so it all depends on everyone, there are those who benefit from getting a credit card or vice versa will get destroyed because they are not able to limit or manage financial expenses properly.

Wong Gendheng

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The offer to use a credit card is indeed tempting anyone, especially those who used to replace gadgets, they will get convenience in debt with credit cards, but we must be smart that the offer of convenience can be the thing that makes us bankrupt because credit card interest is very high, it's better to live a simple life And don't be tempted to buy with debt.

Poker Player

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Quote from: Andrija Branislav on May 04, 2023, 12:14:29 AM

Quote from: Poker Player on May 03, 2023, 12:37:49 AM

Credit cards are part of a bit enslaving credit mechanism.

Credit cards have several advantages and now many credit cards are equipped with reward programs that can provide cashback, travel rewards or other facilities that can be very valuable for users and can enjoy purchase protection. In some cases, credit cards can become part of a debt cycle that can lead to financial problems.

Since you quoted that part that I wrote, you could also quote the rest where I explain that very few people use them in a perfectly rational way. Rewards such as airline miles are highly profitable for companies, and what they do is encourage them to spend more, making it very profitable for the company and for the user in most cases and even if they don't realize it, no.

I also explained in a previous post in this same thread the concept of friction. Several decades ago, companies were reluctant to accept credit cards because they had to pay commissions, but they soon carried out studies and realized that people who use cards end up spending more, with what the company has to pay the commission and still earn more.

Andrija Branislav

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Quote from: Poker Player on May 03, 2023, 12:37:49 AM

Credit cards are part of a bit enslaving credit mechanism.

Credit cards have several advantages and now many credit cards are equipped with reward programs that can provide cashback, travel rewards or other facilities that can be very valuable for users and can enjoy purchase protection. In some cases, credit cards can become part of a debt cycle that can lead to financial problems.

I think it really depends on the spending habits of the individual and the ability to manage their finances effectively and be able to pay off the balance every month.

Sir Legend

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Offers that are increasingly attractive and varied from credit cards make anyone tempted to have a credit card, I am no longer interested in credit cards because it makes me more wasteful and too easily in debt, by being able to refrain from consumption then we can avoid credit cards.

karmamiu

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Quote from: nara1892 on May 03, 2023, 01:20:04 PM

Quote from: cydrix on May 03, 2023, 12:42:55 PM

A person won't have any trouble paying off his balance at the start of the month as long as he can use his credit card responsibly. However, most people who use credit cards assume that they can easily pay off the balance, which leads them to make unnecessary purchases. In that situation, he didn't consider how much he would eventually have to pay. If he didn't notice it, it would be an issue since he would end up accruing debts that he wouldn't be able to pay back.

When we feel that we still have a balance to use, we usually forget ourselves and we are lulled by that comfort, in the end usually someone who has a credit card will be in a bind because they can no longer afford to pay bills every month. I think this is a kind of trap, indeed we will definitely find it easier when we have a credit card, the problem is from the convenience that problems will come. Especially if we can't control the money we use to buy something, it will get us in trouble later. I personally prefer not to have a credit card, because it's risky in my opinion.

If I have another option to pay for the bills without resorting to credit card then I will choose that rather than the card. As what mostly credit companies used scoring to determine whether you are a good creditor or not, it is also another form of disguused benefit so that users will have to use credit card more often to make their scores good, and that is one of the traps being set in order for them to gain more users.

nara1892

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Quote from: cydrix on May 03, 2023, 12:42:55 PM

A person won't have any trouble paying off his balance at the start of the month as long as he can use his credit card responsibly. However, most people who use credit cards assume that they can easily pay off the balance, which leads them to make unnecessary purchases. In that situation, he didn't consider how much he would eventually have to pay. If he didn't notice it, it would be an issue since he would end up accruing debts that he wouldn't be able to pay back.

When we feel that we still have a balance to use, we usually forget ourselves and we are lulled by that comfort, in the end usually someone who has a credit card will be in a bind because they can no longer afford to pay bills every month. I think this is a kind of trap, indeed we will definitely find it easier when we have a credit card, the problem is from the convenience that problems will come. Especially if we can't control the money we use to buy something, it will get us in trouble later. I personally prefer not to have a credit card, because it's risky in my opinion.

cydrix

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A person won't have any trouble paying off his balance at the start of the month as long as he can use his credit card responsibly. However, most people who use credit cards assume that they can easily pay off the balance, which leads them to make unnecessary purchases. In that situation, he didn't consider how much he would eventually have to pay. If he didn't notice it, it would be an issue since he would end up accruing debts that he wouldn't be able to pay back.

xSkylarx

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Quote from: Latviand on May 03, 2023, 11:40:43 AM

Quote from: Ani1985 on May 03, 2023, 12:39:52 AM

I don't use credit cards anymore because I think credit cards are things that make our finances wasteful, I've been trapped in credit card debt and almost every day I get calls from credit cards, even they often come to the office or home to collect bills, actually I can easily pay off but because I think the debt is too big a penalty so I ask for all fines to be waived.

That's the downside but I've heard that if you use it right, there's a possibility that you can use your credit card to your advantage, don't some credit card company offer some kind of freebies when you use their card, I've heard some offer free airplane ride or something like that, although I'm all for using it, I think it's best to know how you handle your finances first because if you don't know what you're actually doing and you are wasteful in terms of money and/or you don't have a lot of financial income streams, then credit card might not be for you

As of the moment, most of my friends will say that they can buy everything and they can do installments on it, so it means they have power on it, which is why I am scared the most when I do have a credit card, as for sure I would be buying my wants. That is why I always say to myself that I don't want to own a credit card, as if I need to buy something, I should be able to buy it in cash.

Latviand

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Quote from: Ani1985 on May 03, 2023, 12:39:52 AM

I don't use credit cards anymore because I think credit cards are things that make our finances wasteful, I've been trapped in credit card debt and almost every day I get calls from credit cards, even they often come to the office or home to collect bills, actually I can easily pay off but because I think the debt is too big a penalty so I ask for all fines to be waived.

That's the downside but I've heard that if you use it right, there's a possibility that you can use your credit card to your advantage, don't some credit card company offer some kind of freebies when you use their card, I've heard some offer free airplane ride or something like that, although I'm all for using it, I think it's best to know how you handle your finances first because if you don't know what you're actually doing and you are wasteful in terms of money and/or you don't have a lot of financial income streams, then credit card might not be for you

Topic: using credit card (Read 842 times)