Credit Cards: Good or Bad Idea?

Philippines
March 30, 2007 3:44am CST
some people would blame those credit card companies for those high interest rate. some would say it had helped them a lot. some would whine for having drowned themselves from debts. some couldn't leave the house or go shopping without it. some just don't care at all. In your case what is credit card to you?
4 people like this
8 responses
@pizzoli (3368)
• Italy
30 Mar 07
the credit card i think has been a great revolution: you don't need to go abroad with a lot of money in your pocket, just need a plastic card with a magnetic strip or a chip, this was unbelievable till years ago,at the same time it brings problems, you don't have the right sensation of what you spend, and if you don't use it in the proper way you can have a lot of debts
• Philippines
2 Apr 07
yeah, with all the convenience it brings, we should also be responsible for using it. thanks for your thoughts.
• Philippines
2 Apr 07
In the past I always say No to credit cards. I got so irritated when paying in the cashier and the one before me is using a credit card because it somewhat slows down the paying process. But guess what, I just applied for a credit card. I must admit it is advantages if you just know your limits. As for me, I always do online transactions, buying CDs, plane ticket bookings, gift orders and deliveries, etc. etc. One thing is for sure, those aforementioned "buying" activities of mine wouldn't be possible without my friend's credit card, which she let me use for my online buying purposes and I just pay the her the cash in person... Yeah they charge alright, but they charge for the services and the convenience that they offer. Debts would not be a problem if you just use your credit card for things that you know you really can afford to buy that time. So credit card companies I guess musn't be blamed for the debts that other people incur, they only have themselves to blame.
• Philippines
2 Apr 07
oopps! Erratum: I must admit it is advantageous....
• Philippines
2 Apr 07
of course, credit card companies should not be blame. its the users themselves that should be blamed. thanks.
@obang1483 (250)
• Philippines
13 Apr 07
It really depends on how you use your credit cards... If you have serious shopping problems, I recommend not to subscribe to any, as long as you can control and budget your expenses, credit card always comes in handy and very useful. Credit cards with high interest are always the one that offers more privileges and discounts. Much cheaper less rights... So if you don't need all the luxury high interesed credit cards offer.. don't avail it... go to much more cheaper... by the way... credit cards are always a big use especially if you got money shortage... please control yourself to use it on important things rather than using it on shopping galore... or else you who avail it knows more than anybody else the terms and conditions of your beloved card. be ready on how you spend.. bills just reflects your usage.
• Philippines
17 Apr 07
i've got my lessons already. though credit cards are useful and handy, but it's always safe to keep our spends within our limits. and credit cards enable me to broke my financial limits. thanks for sharing.
@Shaun72 (15968)
• Palatka, Florida
7 Apr 07
I think it is good to have a credit card if you have good credit. My credit leavel is to low to have one but I have a couuple of debt cards though.
• Philippines
13 Apr 07
yeah. and i think it's better also not to spend beyond our limits. it will surely drown us...
• Philippines
2 Apr 07
For irresponsible users, credit cards are not good. I was irresponsible once. I have learned from my past mistakes and I am now in full control of these plastics. Credit cards is for convenience, it is only the users who inconvenience themselves by not paying what they spent.
• Philippines
13 Apr 07
I love that last line you quote. thanks for sharing.
• United States
2 Apr 07
A credit card is advantageous to those who know how to use it well. There are many advantages to having a credit card aside from its convenience. There are many perks and/or discounts in some establishments, it's easier to acquire expensive and valuable commodities, a good credit rating is advantageous for loans, housing, etc. (especially here in the U.S.). If the holder is a compulsive buyer, there is a great possibility to be wallowed in debt; so the answer to your question is that it really depends on the person's use of his/her credit card that would tell if it's really a good or a bad idea.
• Philippines
2 Apr 07
credit card does gives me lots of advantages as i was able to use it to buy meds and help my wife from a Caesarian Operation. The only bad thing it gives me was: I overspent it. thanks for your thoughts.
@Willowlady (10666)
• United States
30 Mar 07
Credit card is a tool if you treat it right. An enslavement if you don't. You end up paying way too much for things if you don't pay off the bill almost every month. We have only one and it is for online things with not a big limit. We much prefer to pay cash when we can.
• Philippines
2 Apr 07
and i would ashamedly admit that ive become a slave myself for spending too much. but it was for a good cause. thanks for your thoughts.
@natalie1981 (2000)
• Singapore
30 Mar 07
It depends. If you're a shopaholic, i'd stay away from credit cards. It's because you don't feel the cash leaving you and it's only until the bill comes that you'll be surprised at the amount you've spent. Credit cards are good for emergency purchases and if you pay them within the due date. I always make sure that I pay my credit card bills on time coz their interest rates are REALLY high.