Do You Have A Credit Card?

United States
December 14, 2008 3:57pm CST
I think for some people having a credit card is a bad thing. Personally, I always find myself in more and more debt with a credit card. I can understand having one as a back up for if something unexpectedly happens but for me the temptation to use it even when something hasn't happened is far to risky. How about you? Do you have a credit card?
9 people like this
24 responses
@reinydawn (11649)
• United States
15 Dec 08
We have tons of credit cards, most of them with 0 balance. A while back, we had some unexpected legal bills (upwards of $15,000) and used the 0% promotional things to keep from paying interest while we paid it down. As the promotional periods lapsed we would transfer it to another card - almost always with no transfer fee. It's almost paid off, but last month our HVAC unit went out and we had to use them again. If nothing else goes wrong, we'll have them all paid off totally by this time next year - with paying no interest. Once you've established credit with a company, cancelling or closing the account will affect your credit score in a negative way so we just keep the accounts open and don't use them. I have 2 credit cards that I use on a regular basis for my every-day purchases. One credit card is for gas only because we got a 5% cash rebate on it. The other one we use for EVERYTHING else we purchase because we get a 1% cash rebate on that card. We pay the balance of these cards every month and incur no interest charges. We only buy what we know we can afford on them, it's like we use a debit card, only we pay for it at the end of the month and let our paychecks stay in the bank earning a little bit of interest. Credit cards aren't the enemy, it's what we think we can do with them that gets us into trouble. If you use them wisely then it can be a good thing. By using our credit cards the proper way, we usually get about $300 a year in cash rebates, and pay no interest charges.
2 people like this
@callarse1 (4787)
• United States
22 Dec 08
This advice is the best because we shouldn't charge what we can't afford & it's best to pay the full balance off every month. Pablo
2 people like this
@reinydawn (11649)
• United States
22 Dec 08
exactly :)
1 person likes this
@hildas (3031)
18 Dec 08
I have had credit cards for twenty years. I think we have three. We always paid them and never missed them and have completely cleared them twice when we sold our home. Unfortunately over the last three years I cannot work as I got sick. We have four daughters (two have recently moved out) and I was finding it hard paying my heating bills and running my car, so I used the good old credit card. Now it is maxed out and I am finding it hard to pay the payments. They really have become a nightmare to me. I managed them for years and now because the state of the ecomony and having high heating and electricity bills here I am in a mess. I sold my car (we still have the hubbys) to pay two off and see us through Christmas but I do not know what we will do if this crisis continues. I will have to use the credit cards which I cannot afford again I suppose.
1 person likes this
• United States
21 Dec 08
I am so sorry to hear about your sickness. I know it has to be hard financially. I totally understand because I know what it is like living off of one income, it is hard. I hope you are able to make some extra money here on MyLot and it helps you out. Keep your chin up!
@hildas (3031)
28 Dec 08
Yes, hopefully this new year ahead will be better for us all.
1 person likes this
@xtian04 (282)
• Philippines
28 Dec 08
Yeah, i got one.And i dont intend to get another one, the problem with others is they try to get many cards as possible that's why they are having hard time paying it. but if you only have one, you can control your finances and you can always pay your bills on time. :P
1 person likes this
@bing28 (3798)
• Philippines
29 Dec 08
correct babes, credit card is good for people like you who has a strong control in using it and who has presence of mind always in shopping.
1 person likes this
• United States
28 Dec 08
Unfortunately, I was very irresponsible with my credit cards. :( You can check out my blog to see how I'm making money online to help pay them off.
• United States
28 Dec 08
I hate to hear that. It is great that you are making money online to help pay them off though. Thanks for commenting!
@bing28 (3798)
• Philippines
29 Dec 08
I had one before but really once you have it the tendency is using it even for unnecessary purchase. I remember when a family member celebrates his birthday, you preferred to dine out in a restaurant rather than cook food at home. When you need to give a gift to someone you rush to the department store rather than think of giving him something memorable but of lesser value but because you have a cresit card, you can just pull anything nice without thinking how expensive it is. I admire, however those who use their credit card rightly.
@kaka135 (14106)
• Malaysia
24 Dec 08
I have more than one credit cards actually, and I always like spending money with my credit cards. But I make sure I clear all my credit card outstanding balance every month, so I will not have any troubles with the debt. If we use credit card wisely, I think it's good way to save money. As we can collect points when spending money with credit card, then we can use the points to redeem something we want. Also, we can always analyze the monthly credit card statement, and see where we can cut down the expenses.
1 person likes this
@Chering (11)
• Canada
22 Dec 08
I dont have a credit card anymore.. after my divorce I decided not to go down that road. I finially finished off a lot of the debits we had been in when we were together. so I refuse to find myself in that situation again. They are nice if your in a real crunch but at the same time you can always set so money aside for stuff like that as well... thats what i do now ... I have another account that I call my emergeny account only for the unexpect problems like a broken down car or whatever. So no I don't have one and I doubt I will ever go back to having one.
22 Dec 08
Yes I have a credit card and I use it for practically all my shopping. However, I never spend beyond my means and we always clear it every month, without fail. So long as you are careful about what you are spending, and know what you can or can't afford, then credit cards can be our friends, not enemies. I recently got a new card which gives rewards each time you use it. So every three months I get a couple of vouchers back, which is great - it's money for nothing, because I would have had to spend anyway! :)
1 person likes this
@CRSunrise (2982)
• United States
22 Dec 08
We do have a few credit cards, and we've used them. However, we're in the process of trying to pay them off. It's just going to take some time. Credit cards can be a necessary evil, depending on how you use them.
@callarse1 (4787)
• United States
22 Dec 08
I have five credit cards. Three of them have no balances being paid off a while ago. I do have two others that have balances. I try not to use them too often. However, unlike most people I do NOT pay the minimum. I usually put 100--500 USD per month on the credit card. I want them to be paid off. I do have some outstanding debt because I took some university classes in Spain and I charged a lot on the credit card (I had quit my job at the time). So at that time I was paying very low payments. I don't think credit cards are bad, it's just how you use them (charging too much, not paying enough, etc). Using cash is the smartest thing, but if you have lots of temptations then perhaps you should leave the credit cards at home. Pablo
1 person likes this
@ronnyb (6117)
• Jamaica
22 Dec 08
I agree ,I have two credit cards and both of them are in overdraft. Before I had a credit card I exercised good spending habits but somehow knowing that I had this credit line was like a lure I couldn’t resist until it was in overdraft. Ideally a credit card should be used for emergencies and when that is a more viable payment method. However, some persons like myself use it for just about any situation and that has caused problems because it is expensive credit.
1 person likes this
@GAUCI123 (1042)
• Malta
21 Dec 08
I have a credit card, and the only times when I use it when I travel. I never had trouble with it and find it very handy.
1 person likes this
@suspenseful (40312)
• Canada
21 Dec 08
I have a credit card, in fact, I have three, and only use two. I find it is easier for me to figure out what I spend the money on because if I had cash in my pocket or my purse, I would want to get rid of it and besides I am wary about carrying any money in my purse. At least with credit cards, I can just call up the credit card company and cancel the cards if I am robbed, but I cannot say to the police I had about $50 in it. I never had a problem of overspending, more the opposite underspending.
1 person likes this
@katkat (2378)
• Philippines
21 Dec 08
I don't have a credit card nor planned to have one. I don't want to be in debt because if ever I will have one its hard to not use it. That will only bring me some headache when its time to pay the bills. Having a back up in case of emergency is one f the reasons or excuses why most people applied for a credit card but often abused the use of it.
1 person likes this
@cameo22 (200)
• India
21 Dec 08
no i dont have a credit card.i use debit card insted of credit card now i am planning to take a credit card.your words are right if we have a credit card our purchase would come up.if we dont have a credit card we would go to purchase according money in our pocket.but if credit card with us we dont bothered about that and we dont think the sum we should pay later.when the statement come we blame the time of purchase.but credit card has many possitive side we can't close eye on them in travelling credit card would be the better choice.use carefully
@breezie (1247)
• Canada
21 Dec 08
I have had credit cards in the past , but no longer do. I found that for me it is better to have the money to buy something before I buy it. Like you credit cards seem to get me into too much trouble. With my first one my boyfriend was off work to have surgery and we were living off of my part time income. I had signed up for the plan where they make your minimum payments when you are in a situation like that, but when it came time to use the plan they told me I didn't have it any longer. We found ourselves struggling to pay the rent and were not able to make a payment on the card for several months. Finally I was able to pay it off and cancelled it. A few months later I did get a secured card, but it was only for $200. After a year of barely using it I cancelled it because it had a $60 yearly fee. I just couldn't justify paying for something I didn't use. Now I don't use any credit cards at all. I don't really mind unless I want to purchase items online, then it can be a bit of a pain.
@oldboy46 (2132)
• Australia
21 Dec 08
Yes we have credit cards but are very careful in how we use them as well. When I was married the first time my ex-wife and I used them all the time but didn't always pay ythe amount off in full each month. Then when we separated, I didn't even think about the credit card which was in my name. My ex-wife continued to use it after we separated and as the statement was going to our old address where she was still living, I never saw the statement. Every fortnight when I got paid, I would pay something off the account because I too was using it for some of my expenses. Oh about a year after we separated my brother started to question a few things I had done and asked about the credit card. I simply had no idea but did not think the ex would still be using it ... how wrong I was. When I spoke to the bank they informed me that I was liable for the debt as the account/card was in my name, so I cancelled hers very quickly. It took me a long time to clear that card I can tell you and I vowed it would never happen again. When my partner and I got together and bought our patch of dirt, we got a joint credit card for our business. Sometimes it is quicker to use the credit card when ordering stuff for our small organic farm but we always make sure that the money is there to pay, before the end of the interest free period. Same with our personal credit cards which we seldom use at all, except once a year just to keep to them active and also it helps with the credit rating.
1 person likes this
@lynnemg (4536)
• United States
21 Dec 08
I no longer have one. I have thought about getting one several times, but have decided that it isn't something I really need right now.
1 person likes this
• India
19 Dec 08
Credit card is not a bad thing,but we have to use it in a proper way.It is not wise to use credit card unnecessarily to buy things from the net.Use it only in the urgent situation.I also got a credit card,but i use it rarely.
1 person likes this
@lilybug (21145)
• United States
15 Dec 08
I have had credit cards in the past, but I do not have any now. I was never very good with them. I have a debit card now, but no credit card. I agree it is too tempting to use it even when you don't need to.
1 person likes this