Topic: using credit card - page 7. (Read 842 times)
Using credit cards is definitely dangerous thing. It gives you unnecessary amount of money as debt so you can use it. But its money that you do not own. So you may use excessive amount and create financial burden on your shoulders. But if we consider campaigns with credit cards, some of them are very very beneficial. You may opt into bonus programs that will return you a lot of money that you already spend. You may also use low credit opportunities through some credit card programs. All things considered, using credit cards can be good and must be done in limited times. I think even if its like %3-4 return, its still awesome.
Credit cards, folks, they're the fast track to a financial train wreck, right? You snag your first one, and suddenly, you're a high-roller. Cha-ching! Swiping like there's no tomorrow, oblivious to the fallout. And, BAM! You're up to your neck in debt, barely scraping by on minimum payments.
But damn! You can still rock credit cards and dodge that monetary migraine. It's all about staying savvy and accountable. Jot down those expenses, wipe out the balance monthly if you can swing it, and dodge lingering debt that'll slap on interest.
Oh, and let's not overlook the freebies! Credit cards can rake in points or cashback – ka-ching! Just don't blow more than you can clear monthly.
So, play it smart with credit cards, and you'll be grinning all the way to the bank!
But damn! You can still rock credit cards and dodge that monetary migraine. It's all about staying savvy and accountable. Jot down those expenses, wipe out the balance monthly if you can swing it, and dodge lingering debt that'll slap on interest.
Oh, and let's not overlook the freebies! Credit cards can rake in points or cashback – ka-ching! Just don't blow more than you can clear monthly.
So, play it smart with credit cards, and you'll be grinning all the way to the bank!
I think that's also their goal in terms of marketing, so that it's easier for us to spend our money, to be honest when using a credit card it's as if we don't feel like we're losing anything with our money even though at the end of the month it will be a disaster...
There is a concept regarding this called friction, which is that people tend to spend less at higher friction.
The greatest friction is with cash.
Then there are the debit cards
And then credit cards.
Using credit cards people spend 50% or more than using cash. This is something that the big companies that decades ago were reluctant to accept card payments have well studied, and what they do is to facilitate payments as much as possible with a minimum of friction so that people pay more. Amazon is another example of facilitating payments with minimal friction. Paying with your mobile or smartwatch also means less friction than having to take your card out of your wallet.
In the end, paying with credit cards, as you say, you don't even realize it, you don't feel it, but the problem comes at the end of the month with the bill and many people end up deferring payments and paying high interest rates, which is what the credit card companies are interested in.
I have also used a credit card, but my main goal was to have a good name at the bank, so that if one day I need a bank loan for business capital it will be more facilitated. so every month I buy things that are needed just to be active, and every month I always pay in full every bill. because you need to know that credit cards have high interest, but there are also many supermarkets that provide special discounts for credit card users, so we can take advantage of them
is it wise decision to use credit card?
Only if you are able to manage it.
But, if I read your thread, I really sure you can afford to manage your emotion to not buy something unimportant goods. So far, I used Credit about 3 years from now, and i admit 1st time used it, I almost can't control to do not buy goods when I see it was good, and proper to have it, but when I aware about bill, I will lock up.
And, 1 more important thing if used credit card is scammer. don't trust anyone get called you from bank and ask you to mention card number and cvv, I really sure you will get scam, the scammer try to steal your limited balance to buying goods on e-commerce.
i am weak at economy, is it wise decision to use credit card?
No, it is not. The build up credit score thing is another hoax. Credit cards are the product most aggressively marketed by the industry because it is the one that benefits them the most. Starting with you when you are young, financial institutions hope to have you hooked on credit for life, ideally spending beyond your means and paying interest on late fees and the like.
I think that's also their goal in terms of marketing, so that it's easier for us to spend our money, to be honest when using a credit card it's as if we don't feel like we're losing anything with our money even though at the end of the month it will be a disaster with bills piling up and we have to pay if not the interest will go crazy from what we use and can multiply so that we have difficulty paying interest, and that is what they sincerely hope that the circulation of money will be better in society so that it grows the economy but behind it will make us lulled by the convenience of cards credit and if we can't control ourselves then we are already in their trap.
i am weak at economy, is it wise decision to use credit card?
My view is that whether you are wise or not in having a credit card is not the main thing because being able to say whether you are wise or not depends on how you use it, if you use it excessively so that your bills swell it's not because you have a credit card but because you are using something excessive function, if you use a credit card to taste like at the beginning of use there may not be financial swelling, like you use a vehicle even though it is beneficial for your activities easier and more efficient but you use it excessively it could just make you miserable if outside your limits, I think so is the credit card. i am weak at economy, is it wise decision to use credit card?
No, it is not. The build up credit score thing is another hoax. Credit cards are the product most aggressively marketed by the industry because it is the one that benefits them the most. Starting with you when you are young, financial institutions hope to have you hooked on credit for life, ideally spending beyond your means and paying interest on late fees and the like.
I stick with debit cards for same reason. Only purchase a thing if there is enough balance in first place, doing thus keeps head free as well for you have nothing to keep track off.
I cannot speak for everyone else, but I really hate credit, so while I received some offers for a credit card, I refused all of them. My bank would still contact me every now and then convincing me to grab their limited offer for a credit card that doesn't ask for any requirement and that doesn't charge any annual fee for life, but I remain decided not to get one. I never really liked credit cards as I hate debts. I transact in cash most of the time. But as an alternative option, I also have a debit card. Those are the most reasonable options for me.
And with the advent of digital banking, another option would be to pay through mobile apps.
And with the advent of digital banking, another option would be to pay through mobile apps.
i am weak at economy, is it wise decision to use credit card?
Well, you have answered most of the vital points on whether or not getting a credit card is a good decision. Not only you that have experienced struggling in using their credit card properly, especially those who have just got approved by the bank.
One thing that we must understand is that, those credit scores are also a trap, because it will make you think that you need to make a credit to increase your credit limit as much as possible in a short period of time.
Good for you that you have learned a valuable lesson regarding the proper usage of credit cards at the early stage of your life.
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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 credit card?
Let me ask you:
I have a compulsive gambling is it okay to bet 1 dollar on a weekly lottery ticket?
The answer for me would be no.
The answer for you is very likely no for at least six months until you pay the card off.
Maybe it is okay after six months and you won't tap it out again.
Credit card could serve great benefits to entrepreneurs who need money for untimely runs and feedback because, the hope of making profits to payback is sure.
That's why even rich people still use their credit card to any purchase for their credits to increase. Not only they afford to pay the debt incase they used the credits, but also they know how it works so they can circulate the money without losing funds. Well in my case, I have a good credit since whenever I'm buying something I always use my card like to groceries, bills and shopping. Then I decided to buy iPhone for me as a payoff to my hard work, that's the time I used my credit card and I didn't even used any money that day. Of course it will be deducted to your monthly salary but it's amazing that you could bought something that pricey without using fiat money. Therefore I think it's not applicable to people who doesn't afford to budget their income plus the debt incase they use credit card, it will only benefit the banks as they increase the interest of your loans.
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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 credit card?
Yeah, using a credit card can be tricky, especially for young people like OP (most of whom haven't accumulated enough funds for big purchases). On the other hand, it's a great lesson of financial discipline. If you'll pass this test - consider yourself ready for independent life.
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 credit card?
These cards are designed to make profits from every solution they offer, and for this reason, the system is not programmed to set a spending limit according to the financial situation of each person who will use them. And when you make random purchases, neither the card nor the bank that handed it to you bears responsibility for those decisions. It is better to completely stop using it and ask the bank to freeze it so that you can pay off all debts on it. Also, all banks provide a feature to set a limit for spending on cards, this will help you to use the card more wisely in the future.
Credit card could serve great benefits to entrepreneurs who need money for untimely runs and feedback because, the hope of making profits to payback is sure.
For an individual however, I see the usage of credit card as a waste of resources unless one has a business that make money daily to cover the cost is of a credit card.
I have tried applying for credit cards severally but to no avail, the banks has grown accustomed to debiting we the customers rather than securing financial security for its customers alike.
Unless one has a steady source of income, is disciplined enough to spend wisely and understand how credit affects financial growth, I see no reason why it should be abused or used if alternatives exist.
For an individual however, I see the usage of credit card as a waste of resources unless one has a business that make money daily to cover the cost is of a credit card.
I have tried applying for credit cards severally but to no avail, the banks has grown accustomed to debiting we the customers rather than securing financial security for its customers alike.
Unless one has a steady source of income, is disciplined enough to spend wisely and understand how credit affects financial growth, I see no reason why it should be abused or used if alternatives exist.
The first thing to understand is that a credit card is a ticking time bomb. If there is no permanent source of income and you will only use the card, you will have debts, this is 100% To avoid this, setting a spending limit from the card and systematically replenishing the balance will help.You need to understand that the bank wants you to get into debt and systematically pay them interest and spend their money.The card must be used wisely.
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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 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.
it was not until i sat down and made a budget that i realized just how much my credit card debt was affecting my overall financial health. i had to make some tough choices and cut back on some of my expenses , but finally,
i was able to pay off the balance and get back on track.
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 credit card?
you are lucky to have income while you are in college. you are earning, could have used your cash instead than using a credit card.
everyone knows how high the interest is with credit cards and its addicting to use when you can get everything you want with just cards.
credit card companies are relentless in calling everyone on their database with debts, you sure will be hearing from them soon. if their bank and company is going to be one who would also collapse in the coming months due to the works of the FED, you're in luck still.
If you have the ability to control your spending then you can use a credit card,but if you are the type that when you have access to whatever means of payment,you get carried away without considering if the interest is pilling up. You should avoid credit cards because they are tempting and can turn you to a slave even at old age.
Accumulation of interest on credit,is what makes me stay away from it. There can be a solution to a particular financial problem without using your credit card but just because we have access to credit,that is why we feel it is the best option.
Accumulation of interest on credit,is what makes me stay away from it. There can be a solution to a particular financial problem without using your credit card but just because we have access to credit,that is why we feel it is the best option.
Actually, credit cards can indeed make it easier and can. But on condition, we have the ability to pay and use wisely and we also have to know our limits, and we are disciplined in paying. If you can't, then don't expect much that a credit card will make it easier, what is there is even more difficult.
if income is only mediocre, it's better not to use a credit card, and credit cards only make it easier but also a trap that we indirectly borrow to buy what we want and have to pay it every month with interest.
if income is only mediocre, it's better not to use a credit card, and credit cards only make it easier but also a trap that we indirectly borrow to buy what we want and have to pay it every month with interest.
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