Why are you afraid of the credit card?
May 6, 2007 1:39am CST
Are you afraid of getting a credit card? Let's discuss here the pros and cons of having a credit card. I have a credit card but I'm not using it. I have also a debit card which I used once in a while. The thing I don't like about a credit card is the yearly dues. You have to pay your dues monthly or get charges. There is the great chance the teller will make mistakes and overcharge you and you spend your day following up/clearing the mistakes. I easily lost track of what I spend. It feels like it's free money and the temptation to spend the money you don't have is hard to resist. What's good about it is you can make purchase and get up to 29 days without interest.
2 people like this
6 May 07
Using credit card has many negative points with positive. Not just the interest matter but the owner becomes greedy too when he thinks that he can do unlimited shopping with his credit card and at that time he forgets that he has to pay the bill. I am saying this because the same thing happens with me too.
6 May 07
Actually, it's not the credit card, per se, that I am afraid of. Its that I am afraid to have a credit card because I usually tend to be impulsive and buy useless things once I have it. Yes, it is very tempting knowing that you can buy something anytime you want because you are bein backed up by a credit card. I tend to spend more and more even if in the end, I end up slavin myself to work because I have lots of bills to pay. Now, I save money if I want to buy something. No need for credit cards..
6 May 07
It not that I am afraid of credit card or I don't have one but the main thing is that with credit card we forget our limits and spend much more then what we can afford and have to pay for it latter in the form of interest and fine.This is not the case with actual money as one can spend only that one has in the pocket.I also agree that getting interest rebate on the purchase amount for some days is of no use to the customer.
6 May 07
I'm not afraid of them, but now that there are debit cards, I rarely use them. I have a basic one that doesn't charge an annual fee. My main reason for using it was that I don't like to carry a lot of cash, but now debit cards can do the same job. I never thought of it as free money, because there's so much interest if you don't pay the full balance. I now just use it for one small purchase every month, so I can keep my credit rating in good standing, and pay it off as soon as the bill comes.