Credit cards: the good, the bad and the ugly.

I used to take every card that was offered to me. Big mistake. I screwed up my credit so badly that now I am afraid to even get a secured card. I did get one of those recently through my bank by opening a CD and I have used it a few times. I haven't got the first bill on it yet so I don't know how that will work, but I have arranged for the payment to be taken out of my account automatically so hopefully I won't get in trouble with it. Right now, I mostly use my debit card and various prepaid cards so I don't have to worry about going over the credit limit or any of the other nonsense that goes with straight credit cards.

I don't use my credit cards except for an emergency. I allowed an ex boyfriend to use a couple of my cards when we were together and he really did a number with them. Dumb move on my part.

hello, no doubt credit card in good one. But it is good if some one use it intellygently. As you are using it only in emergeny. It is good habit. Indeed credit card can inspired some one to get loan beyond paying capacity. So some must be got loan or credit for the amount which they can pay with in time. I have not credit card. So I have not any experience of it.

Now, I only use credit card for necessities or emergency cases where cash available at the moment is not enough to cover the situation at hand. I've learned my lessons from the resulting headaches it created come payment time by impulsive using in the past. I now limit my purchases and spending to an amount where I could pay it in full at due date and avoid interest or extra charges. Advantage of this practice, I am using the credit card company's funds in advance without paying any additional charges and divert cash I have to finance other income generating activities.

hi, actually its really hard to have many credit cards because it will maximize you temptation to use it by buying of many things that not really important,and aside from that you will encounter the hardship of paying those interest rates of credit.so i only have one and when other banks offer me i will decline it.

I have never had bad experiences with credit cards, because I'm always aware tthat he money I spend is money I will have to pay no matter how. That money doesn't come by magic, or is given as a gift from the banks. That's a debt I'm acquiring and, as any other kind of debt, I will have to pay. so that helps me keeping debts low.

I think credi cards are good for when there is an emergency and when you see something unexpected but of course they have to be paid back and when they get out of your control it can be hard to get down again, but I would hate to be without one.

Mine are out of control mainly because of several years running of medical bills, counseling,etc.

I do not use credit cards at all. I figure if i don't have money for something i'll just wait till i do to get it. U know i don't travel etc. so i really don't want one.

I paid off my 2 credit cards when I retired so I don't have to worry about that any more! thank goodness for that! but I have a debit card where I use my own money so I know what I can spend so I just top it up once a month and when the money is gone I know I can't spend any more which is good...I don't think I will go back to credit cards any more the interest is just too high!

Hi Marg, hope you have a happy holiday with your family and friends during this Christmas season. I wanted to send an e-greeting card to you but no reply from you to my message. How's your health now? Hope you are doing fine. Regarding credit card, i am always trying to make sure if i ever use it, i must be able to repay back the debt immediately within the very next month. I tried not to drag the debt longer as the bank's interest for credit card is high. Now, i usually prefer to shop using my debit card instead of using credit card. I keep credit card for emergency use only. By controlling that way, i see myself and family don't over spend on every special occasion. Merry Christmas and a Happy New Year, Marg sis...

Hi marguicha Merry Christmas Given the kid I am and also a spendthrift... I have always said NO to credit cards as I know, I will make almost every purchase that I can and will definitely end up with nothing to pay back... Cannot afford one for me. However, I do use my debit card often while making purchases and yes, it is a little more secure that carrying cash all around.

Hi, Marguicha, Merry Christmas! I've been offered a credit card years ago and I took it just in case of emergency. The banks' interest is too high for me. At first I wasn't using the credit but a few years later I had a hard period and step by step I used the whole limit. Then I had a harder time before been able to pay back the credit and liquidate this card. Now I have two debit cards and this is much safer. I don't keep money at home and I can't spend more than I have in my account. I wish you to have more in yours. Good luck!

credit card is a necessity now a days . It has so many benefits but along with that i have seen a very bad face of it by not paying installments on time, i was under a huge debt due to the interest charges which banks impose. So use it sensibly.

Just try to make a reservation at a hotel without a credit card, they just won't do it. It has become mandatory for so many things today and personally, it encourages indebtedness and spending beyond your means. So many times I've seen people get into debt, just like I did when I was married to my ex husband, with the intentions of paying off the card, but things change in life and it just never happens. Today, I use a debit card and that gives me the convenience of a credit card but keeps me from overspending beyond my ability to pay it off monthly. My debit card saves me from paying interest on any carry over on the charges and I'll take a debit card any day rather than a credit card. However, you can't build a credit history without a credit record for purchases in you want to buy a home or car. Credit cards are essentially the only way to develop a credit history unless you can find someone willing to sell to you and report the history to the credit bureau. It does take a timed payment history to develop a line of credit. Thanks for the discussion.