Topic: using credit card - page 4. (Read 842 times)
There are definitely people who manages their credit very well so I guess it all depends on the users. Sometimes I feel envious of the perks that my peers gets from using credit cards over time but I personally don't want incurring unnecessary debt. If I see an item or product I like but cannot afford at that moment then I simply walk away. Cash is king for me and if there's a thing I need to purchase online then I can just use debit cards. It acts like an online wallet so I just top up when needed.
i am studying in college, i was really excited to get my first credit card 
. i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.
though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.
before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.
. i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.
before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.
OP, NEVER USE YOUR CREDIT CARD FOR "SMALL PURCHASES", ESPECIALLY FOR UNIMPORTANT PURCHASES.
For emergencies yes, and for IMPORTANT large purchases for items/things that you truly need, like a laptop to use to be more productive and earn money, or an item that you can use to start a small business = definitely yes.
Not necessarily. I've been using a credit card since I was 20, in university, with a small credit limit though. I always paid the monthly bill on time and frequently used it for petrol, groceries, or even other purchases because I was receiving a small cashback each time. Now I have a proper credit card with a large limit that I used to buy my motorcycle in interest-free installments, on which I also received cashback. I'm using it almost everywhere to take advantage of it; it's not too much, but it's still better than nothing.
The trick with credit cards is to pay them always on time and to not fall into the trap of installment payments, buying things you don't need or can't afford and going into debt for several years in order to repay them.
Petrol and groceries are things you need, it's definitely OK. I'm talking about those small purchases like trendy clothes that you don't need, or something like sunglasses, just things that we want and don't truly need. Because if you can't afford to pay in cash, don't pay for that on credit. It would be a different situation if the person is rich.
But 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
i am studying in college, i was really excited to get my first credit card . i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.
though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.
before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.
. i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.
before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.
OP, NEVER USE YOUR CREDIT CARD FOR "SMALL PURCHASES", ESPECIALLY FOR UNIMPORTANT PURCHASES.
For emergencies yes, and for IMPORTANT large purchases for items/things that you truly need, like a laptop to use to be more productive and earn money, or an item that you can use to start a small business = definitely yes.
Not necessarily. I've been using a credit card since I was 20, in university, with a small credit limit though. I always paid the monthly bill on time and frequently used it for petrol, groceries, or even other purchases because I was receiving a small cashback each time. Now I have a proper credit card with a large limit that I used to buy my motorcycle in interest-free installments, on which I also received cashback. I'm using it almost everywhere to take advantage of it; it's not too much, but it's still better than nothing.
The trick with credit cards is to pay them always on time and to not fall into the trap of installment payments, buying things you don't need or can't afford and going into debt for several years in order to repay them.
Petrol and groceries are things you need, it's definitely OK. I'm talking about those small purchases like trendy clothes that you don't need, or something like sunglasses, just things that we want and don't truly need. Because if you can't afford to pay in cash, don't pay for that on credit. It would be a different situation if the person is rich.
Well I am not the type of person that uses my credit card all so much. I will use my debit card or just pay with cash when I need to buy goods. Using a credit card for me is when doing online shopping for it is the only way to pay. If I have little in my account, I will use the credit card.
For me to use a credit card only if it is expensive. I do not like it when I have to pay interest for my credit card bill so I like to pay it off for each month. I only use just 1 credit card and there is not so much debt on it so I do not mind
For me to use a credit card only if it is expensive. I do not like it when I have to pay interest for my credit card bill so I like to pay it off for each month. I only use just 1 credit card and there is not so much debt on it so I do not mind
the lesson that i learned here is that credit cards can be a valuable tool for building credit points/scores and making purchases, but they should be used responsibly and with caution. it is important to keep track of your spending(like keeping a journal), pay off the balance in full, each month if possible, and avoid carrying a balance that will increase interest over time. by being mindful of your credit card usage, you can avoid debt and maintain your financial health.
i am weak at economy, is it wise decision to use a credit card?
I don't like buying things on credit so I have always avoided applying for credit cards. If you want to live a financially free life, you should avoid debt. The scariest part of these credit facilities is the interests. I don't want to be indebted at an old age that will make me keep working till death. I think I should have the opportunity to retire peacefully and debt free after my children have left home. That is why I only buy what I need and not what I want so that I can stay debt free and have extra money to invest i am weak at economy, is it wise decision to use a credit card?
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It's not bad to have credit cards but you should have the ability to control your expenses. Credit cards could be helpful especially if you have spent part or all of your income on investment or something important. You need it to keep life going. But it shouldn't be used to buy things that are not basic.
it depends on your country, do you that not every country that make use of credit card to operate, in some countries you not have a credit card but you will purchase anything you feel like purchasing with cash over one or six months, and secondly with the credit card you will spend what you never expected because you are not seeing the money, i have notice that to spend money with cards is more easier than to spend with a physical cash, i will advice you to be spending with cash instead of using a credit card, but if you know it will be good for you to credit card, then you can as well go with credit card.
Paying with a card is only worth minor purchases, because you are right, spending money from a card is easier than spending cash, so when buying large amounts it will be preferable, you will see how much you are spending. And I don’t like credit cards, I think that we can do without them, and we shouldn’t spend the money that we don’t have, because this will lead to additional costs. Everything seems obvious, but many do not want to think about it.
Credit card is like borrowing money from someone, but the catch is there's no limit to it. And it becomes an addiction as you use it over and over. I have bought this and paid this amount back before. Why not buy something more expensive? I am sure I will be able to pay it back like before.
And this is how it begins. I have always hated the concept of borrowing money and let myself in debt. If you are using that money to make more money by doing some business or anything else, then yeah, it is ok to use credit card.
If not, try to stay away as far as you can from it. But as you mentioned how you have overcome the situation by following a strict budget. If one can manage it from the beginning, then credit card is for them. If it's necessary or not needed without some emergency situations. Then you are better of without it.
And this is how it begins. I have always hated the concept of borrowing money and let myself in debt. If you are using that money to make more money by doing some business or anything else, then yeah, it is ok to use credit card.
If not, try to stay away as far as you can from it. But as you mentioned how you have overcome the situation by following a strict budget. If one can manage it from the beginning, then credit card is for them. If it's necessary or not needed without some emergency situations. Then you are better of without it.
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I think we can compare credit cards to cryptocurrency in some ways because credit cards help credit scores but can also lead to a worse nightmare. Meanwhile, cryptocurrency also presents high benefits, and despite the benefit, it also presents high risks. To prevent the risk it is better to have adequate knowledge and also use DCA when making investment decisions.
The same thing happens to credit card use DCA when making use of credit card.
The same thing happens to credit card use DCA when making use of credit card.
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i am weak at economy, is it wise decision to use credit card?
I don't think it's wise to use credit cards. Because it takes loan from our bank And if you fail to repay it on time, you have to pay a high amount of interest. In this case I think it is better to use visa/master card instead of credit card as you can spend your personal money without being accountable to anyone or paying interest. Using credit card can increase our unnecessary expenses but when you go to spend your personal money through debit / visa / master card your unnecessary expenses can be reduced.
it depends on your country, do you that not every country that make use of credit card to operate, in some countries you not have a credit card but you will purchase anything you feel like purchasing with cash over one or six months, and secondly with the credit card you will spend what you never expected because you are not seeing the money, i have notice that to spend money with cards is more easier than to spend with a physical cash, i will advice you to be spending with cash instead of using a credit card, but if you know it will be good for you to credit card, then you can as well go with credit card.
Paying with a card is only worth minor purchases, because you are right, spending money from a card is easier than spending cash, so when buying large amounts it will be preferable, you will see how much you are spending. And I don’t like credit cards, I think that we can do without them, and we shouldn’t spend the money that we don’t have, because this will lead to additional costs. Everything seems obvious, but many do not want to think about it. Habits like that in terms of making loans are certainly worrying, especially for yourself,
just imagine if it uses our name and they run away then what will be searched or billed is us,
what is clear is that things like that often happen so we need to be careful.
just imagine if it uses our name and they run away then what will be searched or billed is us,
what is clear is that things like that often happen so we need to be careful.
Yes it is, I also have a friend that have been long time not in touch and somehow he message me to ask for a loan but I said no. Because the consequence is hard.
We need to control our habits or the way we live, so we can live free without debt.
We can't deny that there will be times when we needed to rely on loans to survive because not all of us were born with privilege. However, making it a habit isn't a healthy lifestyle because it can affect our reputation and it won't give us peace of mind especially if we are using it for the things that we don't need. Loaning can help but it shouldn't be done often if we have other ways to sustain our living. It's better to live without debt though we aren't living a luxurious life.
Habits like that in terms of making loans are certainly worrying, especially for yourself,
just imagine if it uses our name and they run away then what will be searched or billed is us,
what is clear is that things like that often happen so we need to be careful.
just imagine if it uses our name and they run away then what will be searched or billed is us,
what is clear is that things like that often happen so we need to be careful.
Yes it is, I also have a friend that have been long time not in touch and somehow he message me to ask a loan but I said no. Because the consequence is hard.
We need to control our habits or the way we live, so we can live free without debt.
i am studying in college, i was really excited to get my first credit card . i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.
though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
it depends on your country, do you that not every country that make use of credit card to operate, in some countries you not have a credit card but you will purchase anything you feel like purchasing with cash over one or six months, and secondly with the credit card you will spend what you never expected because you are not seeing the money, i have notice that to spend money with cards is more easier than to spend with a physical cash, i will advice you to be spending with cash instead of using a credit card, but if you know it will be good for you to credit card, then you can as well go with credit card.. i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.
It is undeniable that credit cards will make it easier for us, but it's worth the risk, so you can say that in the end we owe too. I will avoid things that make it easier for us financially, I mean like this credit card. Usually the thing that makes us unable to control is because we feel comfortable with what is offered, and believe me when we are comfortable, we will forget ourselves and in the end we can no longer control the amount of credit card spending. Almost everyone will do what you experienced in the beginning. They will adjust and use the credit card as best they can, but over time they forget that they have to be able to control its use.
If you know how to control your expenses, then there is nothing wrong with a credit card, I have a bank card, but I almost never use it, only in very rare cases, and I never use a credit limit at all, and I also lowered it myself in the settings credit limit to the lowest possible, and it's about $10 right now, so I'm not tempted to use it. But I have friends who use credit money and they like it, it's not about big sums, but about small expenses.
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i am weak at economy, is it wise decision to use credit card?
I don't think it's wise to use credit cards. Because it takes loan from our bank And if you fail to repay it on time, you have to pay a high amount of interest. In this case I think it is better to use visa/master card instead of credit card as you can spend your personal money without being accountable to anyone or paying interest. Using credit card can increase our unnecessary expenses but when you go to spend your personal money through debit / visa / master card your unnecessary expenses can be reduced.It is undeniable that credit cards will make it easier for us, but it's worth the risk, so you can say that in the end we owe too. I will avoid things that make it easier for us financially, I mean like this credit card. Usually the thing that makes us unable to control is because we feel comfortable with what is offered, and believe me when we are comfortable, we will forget ourselves and in the end we can no longer control the amount of credit card spending. Almost everyone will do what you experienced in the beginning. They will adjust and use the credit card as best they can, but over time they forget that they have to be able to control its use.
Easy access to finance from credit cards will make us forget to control high spending, but the use of credit cards depends on each cardholder because some people cannot see goods on the internet so they spend them without consideration, we must wisely manage our finances to save money and only use a credit card for basic needs, sometimes we don't get too up to date with credit card offers because it will only leave debt due to use that can make it possible to make loans, only use credit cards for necessities 
Using it depends on the users otherwise whenever you control the way you spends money without you drawing debt to yourself is best thing to have. When you work on your expenses there's no way you will involve yourself with so much debt on your debit card, but i wonder how come people go this far being indebted while using this card, we don't use debit card within my country.
I have had bad experiences using credit cards to shop or buy stuff online, the charges and interest are killing me, and also they can turn to debit too. Today I don't use a credit card anymore since I found all this out, and now I used transfer for almost everything I want to purchase anything online and offline and if the store is accepting Bitcoin it's even better, I have used Bitcoin to buy some phone data and Gift card and I wish that I can buy many more things with Bitcoin someday but now it's limited to buying Gift cards and online subscription.
My father stopped using credit card when it took a toll into him that it is really hard to just pay it all back and clear all your credit records at the end. Good thing you learned your lesson from that it is not really for you. People have been reporting horror stories on how deep they went into their credit and they're struggling to make ends meet.Your experience is quite...life-changing that you turned to Bitcoin from being a credit card user. Not really that common of stories I heard around here.
It is undeniable that credit cards will make it easier for us, but it's worth the risk, so you can say that in the end we owe too. I will avoid things that make it easier for us financially, I mean like this credit card. Usually the thing that makes us unable to control is because we feel comfortable with what is offered, and believe me when we are comfortable, we will forget ourselves and in the end we can no longer control the amount of credit card spending. Almost everyone will do what you experienced in the beginning. They will adjust and use the credit card as best they can, but over time they forget that they have to be able to control its use.
Quote
i am weak at economy, is it wise decision to use credit card?
I don't think it's wise to use credit cards. Because it takes loan from our bank And if you fail to repay it on time, you have to pay a high amount of interest. In this case I think it is better to use visa/master card instead of credit card as you can spend your personal money without being accountable to anyone or paying interest. Using credit card can increase our unnecessary expenses but when you go to spend your personal money through debit / visa / master card your unnecessary expenses can be reduced.Jump to: