How many credit card accounts do you have??
By shia88
@shia88 (4571)
Malaysia
July 13, 2010 9:53am CST
I prefer to have only 1-2 credit cards for my usage. Especially when I am travelling, credit card plays a good role as I no need to bring so much cash along.
I don't have the habit to hold too many credit cards.
Nowadays, lot of banks are promoting their credit cards by giving some free gift upon signing up.
Of course, by holding more credit cards,it can lead to have more spending too indirectly.
That is why to play safe, I will only stick to the most 2 credit cards in my wallet.
How about you guys , how many credit cards you hold? Do they really served your needs?
Let's discuss !!
4 people like this
14 responses
@youless (112123)
• Guangzhou, China
14 Jul 10
Actually it is easy to apply for a credit card here. But I don't want many credit cards because no matter what, I have to return the bills on time. I have two credit card accounts. They belong to different banks. If one day one of them doesn't work due to any reasons, at least I can use another one.
I love China
1 person likes this
@shia88 (4571)
• Malaysia
14 Jul 10
Hi ,
Thank you for your comment.
I agreed with you that applying credit card is pretty simple now.
Like in my country, there are plenty of offers available in the market by different banks. They even come out with freebies upon signing up.
But there is a change in a policy now as government want to control on the credit card usage.
There is a Rm50 imposed every year for each individual cards that we are holding,so it is not the best time to use so many cards as the Rm50 charge is alot too.
There fore, I strict to holding 2 credit cards now,which served me the best for my usage.
@hanagi (390)
• Philippines
13 Jul 10
I don't have a credit card account but was actually thinking of getting one since most of the transactions online requires you to have a credit card. It is for that sole purpose that I was thinking of applying but I was still weighing the consequences of getting one since I don't want to find myself getting drowned because of my huge credit card debts.
1 person likes this
@LadyMarissa (12148)
• United States
13 Jul 10
I have 0 credit cards & manage to live just fine!!! I keep a minimum amount of cash on me & keep a Debit Card in my wallet. I don't believe in spending money I don't have. If I don't have enough on my Debit Card, I just don't do it or buy it!!!
@LadyMarissa (12148)
• United States
15 Jul 10
For many, it is soooo easy to go from convenience sake to financial problems that I just do NOT want a credit card!!! I'm NOT saying it is wrong for you or anyone else to have a credit card. I was just responding to your question!!!
@shia88 (4571)
• Malaysia
14 Jul 10
Hi,
Thank you for your comment.
I understand that some people don't hold credit card,they just get a debit card and it is quite useful too.
But with debit card, you can only purchase the item you like with the budget amount that you have in your saving account.
I agreed with you that if we don't have enough money, then don't buy the item that we like.
I have the same thinking too.
For me, having a credit card is for convenience sake. I still manage my spending wisely and only buy the things I really need it.
@tigeraunt (6326)
• Philippines
17 Jul 10
dear shia,
i had before but i closed all. they have a very high interest rate. not to my liking.
have a nice day.
ann
@shia88 (4571)
• Malaysia
16 Mar 11
Hi,
Having a credit card will make our life more
convenience,but we have to use the credit
card wisely,don't overspent on it,or else, we may
end up paying a big debt when the bill come.
Of course, if you are making a full payment every month,then
there won't be any interest incurred.
@dreamsharmin (2281)
• China
16 Mar 11
I don't have any credit cards. Still i am a student so bank will not provide me a credit card very easily. I do use ATM card. After complete my M.B.B.S i will make one credit card.
Good day!
@shia88 (4571)
• Malaysia
16 Mar 11
Hi,
Since you are still a student,there is no
need to hold a creditcard,unles you are working now,then
you can apply for one credit card for emergency used.
Some parents do provide a supplementary card for their
children to spent,I am not agree to that action.
It may indirectly enforce the kids to spent.
If I want to have a credit card, I have to depend on myself.
@emgee595 (335)
• Philippines
25 Mar 11
Hi there I have three credit cards. :D They do come handy when making online transactions like online booking with airline companies (it is very convenient for me when i buy plane tickets online) or when i do online shopping for online downloading of phone applications. :D During busy seasons like christmas when the queue in ATMs are quite long, it is better to refrain from carrying cash and having your purchases charged through credit cards. Another advantage for having credit cards is the convenience during out of town trips. I find it scary to carry cash whenever I travel. Aside from that, I got a lot of freebies from the promotions offered by the credit card companies whenever the amount of my purchases qualified me to avail of the freebies. :D
There is a caveat though. A credit card holder must pay the whole amount due on time so as to refrain from being charged with penalties, interests and other surcharges. So what I do, I always try to keep my accounts updated that way, I can maintain a good credit standing, plus, I won't have to deal with unnecessary expenses. IT is also easy to ask for reversals if you have good credit standing.
Have a good day and happy mylotting! :D
@shia88 (4571)
• Malaysia
25 Mar 11
Hi,
I do feel convenience to have a credit card in hand.
it makes me feel easy to make any purchases when I really
need it. I do not need to carry so much cash with me all
the time,especially when come to travelling, it is unsafe
to carry so much cash,so having a credit card is so easy,it
makes us feel safe to spend when we are our for travelling.
Of course, after receiving the credit card bill, the head start to
spin on how to pay the bill,make sure the bill is pay on time and
make a full payment to avoid any interest charges on the expenses.
@prinzcy (32322)
• Malaysia
14 Jul 10
I have none. I only have debit card for emergency and other usage like online purchase. I tend to believe that credit card only encourage debt, as it allows ones to buy without paying first and only need to settle it at the end of the month. Based on my current financial situation, I don't need another debt, thank you. Also I don't trust myself to go to a shop with a credit card in my purse. I am a bit shopaholic type of person.
@shia88 (4571)
• Malaysia
15 Jul 10
Hi,
Having a debit card is quite convenient for you to do shopping too as most the retail shop are accepting debit card nowadays. But you have to make sure ,you have sufficient amount in your bank account in order to make the purchase.
I agreed with your statement whereby credit card encourage debt. But as long as,you manage your spending wisely,it should be fine.
I best part I use credit card for payment is that I no need to carry so much cash when I am out, and the bill will only reach me by month end,that is the time where I only neeed to make the payment.
@rajeshout (207)
• India
13 Jul 10
i didnt owned a credit card bcz i vl not trust banks.so credit card is not a part of my lyf.hope it vl be same in future.so i have no credit cards
@edwardjoy2000 (2387)
• United Arab Emirates
13 Jul 10
i dont use credit cards. I get calls from banks and financial institutions to buy credit card. but i only use what money i have so i prefer the debit card. Its more convenient and you know when to stop shopping or spending.
@shia88 (4571)
• Malaysia
14 Jul 10
Hi,
Thank your for your comment.
Yes...there is debit and credit card available in the market.
I used to have a debit card last time,but I seldom use it.
I still prefer to hold a credit card, I no need to use cash for the payment and only wait till the bill come to me,then I will make the full payment before the due date.
With credit card, we can simply purchase electronic items which offered 0% installment plan and it can be dragged till 36 months for the payment. AT least , the burden is lesser,just need to make the monthly payment and can simply get the item that we like.
@xiaomo3644 (55)
• China
14 Jul 10
I graduated from my university last year and I have worked for half a year.But I don't have any credit cards cause I have little sense of security.Maybe in the future I need one or two to pay some dear things in advance.I don't like to have too many cards which give you the illusion that you are spending other people's money.It's terrible when you got the credit card bill.
@shia88 (4571)
• Malaysia
15 Jul 10
Hi,
What you said is right,using a credit card for any purchases, are like spending other people's money first. Then when the bill comes, then only the big headache is coming too.
But for me, as long as I manage my spending limit wisely and make the payment on time, I don't get myself into big trouble.
Since you just started to work,maybe you might not need a credit card at the moment. you might consider to get one in future.
@shia88 (4571)
• Malaysia
14 Jul 10
Hi,
Thank you for dropping by my discussion.
Since you are still a college student,there is no necessary for you to hold a credit card at the moment.
But maybe once you have graduated and started to work, you might consider to apply
one credit card ,just in case, you need to use it whenever necesary.
There are plenty of offer from the bank regarding application for credit card.
You can always choose the one that suit you the best and give you the best offers.
@concept001 (430)
• India
13 Jul 10
Yes I hold only one credit card. I don't prefer holding too many credit cards. But I don't use credit cards like others do . I am not that credit card savvy.
@shia88 (4571)
• Malaysia
14 Jul 10
Hi,
Thank you for your comment.
At least you have one credit card at your side. When you need it , you can simply take it out and use it anytime you like for the convenience sake.
As for me, I get my credit card for convenience sake.
Nowadays, we can do lot of online transaction using our credit card. Even purchase air tickets, we can simply book it online and just need to have a credit card for payment.
Therefore without a credit card in hand, we might find it inconvenience in certain aspects.
As long as we know how to control the usage, for sure,we might not end up with a big debt.
@jennywren3 (54)
•
14 Jul 10
Hi, i don't have any credit cards, my sister had a few couple of years ago & got herself in a right mess with them, i prefer to pay cash or by debit card.
@shia88 (4571)
• Malaysia
15 Jul 10
Hi,
Not holding a credit card can lead to happy life. At least,you won't have a credit card debt in hand.
Sometimes , I also have the same thinking like you,just make the payment by cash.
But then in emergency whereby the shop only accept credit card,then I will be in mess ,if I don't have one credit card with me.
TO play save, I got 2 credit cards at my side for standby. But I will always control my spending limit.
@GuitaristTJ (36)
• United States
14 Jul 10
I like to only keep one and only use it when absolutely necessary. Its a personal preference so i dont get into to much more debt. Just having one does me well.
@shia88 (4571)
• Malaysia
14 Jul 10
Hi,
Thank you for your comment.
it is good that you have one credit card at your side,so
anytime you need it,just take it out and make the payment with it.
For me, I don't like to hold too many credit cards too.
I have two credit cards currently and they served the best for me.
I will only use them whenever necessary too.
