What are the pros and cons of having a credit card?

@mayrah (1037)
Philippines
December 17, 2010 10:16pm CST
Having a credit card give us a lot of benefits. When we shop we don't need to bring cash and we can buy anything we want at an unexpected time. Credit card is also a necessity when we work through internet where we need to link it with our Paypal account to get our account verified and withdraw our money. However the are a lot of disadvantages of owning a credit card if we don't use it properly and safely. because can be tempted to buy unnecessary things in the mall or in the internet just because we have credit card. We can also be taken advantage of by scammers and hackers when we don't think carefully before entering into any transactions from any sites. What more are the pros ans cons of owning a credit card in your own opinon?
9 responses
@puccagirl (7316)
• Israel
18 Dec 10
The biggest pro is of course the conveniance, and the biggest con is the fact that some people cannot handle them, so they end up getting into debt because of them.
1 person likes this
@Freezole (246)
• Malaysia
18 Dec 10
Totally agree with you. Just like me i cannot handle them. I got 3 credit card and it all almost full usage.
• Philippines
18 Dec 10
If used wisely, credit cards can actually give you the following benefits: 1. It can provide for almost everything that you need including groceries and food for the family. 2. You can also withdraw instant cash if you still have remaining balance left in your account. Downside if not used properly: 1. If you own a credit card when you are 20 years old at that time, you can be a bankrupted with debt at the age 21. 2. If you have trouble paying your debt, you can get into trouble with the debt collectors haunting every day of your life until you are fully paid. Good luck!
@mayrah (1037)
• Philippines
18 Dec 10
Yes I agree with you,that's what happened to some people I knew so I am still undecided to apply for a credit card.
• Philippines
19 Dec 10
Hi charmed and myrah ^^. I'm 21 and still hesitant to apply for a credit card. I applied once and got denied and I think something conspires for me not to be approved. Maybe now is not the right time to have one. But yeah there were times I wanted to buy something or attend a seminar but can't because I do not have money. Attending seminars; for one are missed opportunity because I do not have money that time.
@peavey (15874)
• United States
18 Dec 10
It's been proven that when people use a credit card to shop, they spend more than if they used cash. Something about a credit card makes it feel like it's not "real money," so when the time comes to pay for it, it's somewhat of a shock to see how much they have spent. Credit cards are convenient and often, too convenient. It's best not to carry them to do daily shopping. You should use them when you shop online (rather than debit cards), but always keep a list of exactly how much you have spent and don't spend when you don't have the money to pay it back. It's very hard for most people to do that.
@mayrah (1037)
• Philippines
18 Dec 10
Yes I agree, its a bad side of owing a credit card. It's a temptation.
• India
19 Dec 10
One big advantage of having a credit card is that we need not carry money with is always which is pretty unsafe, also there wud be no dependency on others for financial needs in case of emergencies. However people like me who are spent thrift would end up spending more at the end of the day :D
@ansi09 (151)
• Tunisia
18 Dec 10
Mayrah, that's a very good topic you have started,. Credit Cards are the smartest invention that banks ever made. I'll give you a very sipmle example mayrah, imagine if i give you $1000 & i tell you buy thing with that money, beieve me, every single time you buy something, part of you feel a bit guilty, haha ,even if you buy good stuff. But when i give you a credit card with an amount of $1000, you'll buy the same things you bought with real cash, & you'll feel no guilt, you know why, coz the cash effect on people differs from the one of the credit card. I remember once a tv show that talked about this credit card trick, & how people feel less guilty when using their Credit Card in shopping. They also said, it's a psychological trick that the credit card do when we shop. I gess am 100% with that idea, coz when you touch the real cassh with your bare hands, it doesn't feel the same when you hold a credit card, even if it's loaded with cash.
@Wefight (330)
18 Dec 10
Well i personally dont like credit cards as they make you spend more and also it is a piece of plastic i prefer that crisp feel of dollars in your hand rather than a little piece of plastic that could get robbed of you at any moment.Some people believe it is more safe to bring out a credit card but i do not agree with them as at the tills there is always someone looking over the tills at you shoulder it only takes one of them to rob you when you are out the shops or going home.There are also lots of things nowadays that people can put on the cashmachines to try and see your pins and keep your card one of them is something you put in the machine and the card goes in there with a un noticable camera.Obviously when you go to see the mall about it and cant get your card out they just slot the credit card out and they have all your details and money as easy as that.
• Singapore
18 Dec 10
In my opinion, owning a credit card gives you the advantage and convenience that you don't have to pay by cash. It's just a matter of 'slicing' the card. We can also buy things online with it, pay bills etc. However, the cons are that, because 'slicing' the card is so convenient, we will take it for granted and gradually, it'll be registered as a fun thing to do, we become so used to it and we begin using it a lot more instead of cash. Gradually, one will find that when the bank bills arrive, their pockets will have a large hole in it LOL. I think it's best to use credit cards when you find that you don't have much cash with you, and not make it such that, for every transaction, you use the credit card. It'll become a bad habit.
@thanks1961 (7049)
• India
18 Dec 10
Hi dear, Just like any other thing credit card also having certain advantages and disadvantages. As you said, convenience is the best one. Holding too much of hard cash at hand and inconvenience can be avoided. Cash theft and fake not in hand also therefore wont be a problem. Money transnationals can be done very fast and visiting bank offices can be minimised and card can be used whenever used for money dealings. If properly used, ratings can be increased and some kind of discounts also benefited. Where as the draw back is that we would be inspiring on more spending on unwanted things. Once card is on hand we me tempted for more shopping, which may not really need in time. It is ALWAYS recommended that we need to pay the minimum balance or more IN TIME or within the due date. The fine or penalty may be much higher while we are not making the payment in time. We should be careful of cards while using. Card theft and misappropriate of cards are the major head ache and we need to be careful on such things. The passwords need to be kept confidential and if have a doubt on the same has been leaked handed over to someone else, immediately change the password to a new one. Do not give the cards to any strangers and whenever the card is given to a hotel or such places, make sure that we get back the care and again confirm you got YOUR OWN card back. Also, remember to collect the card from the ATM machine after making the transactions. In fact there are more inconvenience while compared with the benefits. But if we wisely and properly used, we can make the card system more feasible. Thank-s
@dodo19 (28089)
• Beaconsfield, Quebec
18 Dec 10
Well, the thing with credit cards is that it can be tricky. If you used it wisely, and pay it back fairly quickly, then that's good for you. It can help you if you don't have money for something, but will have it in a week. It can be good for purchases and such. However, if you don't pay it back or anything, at least within a reasonable amount of time, it can get pretty bad. You need to be careful with credit cards.