Neither a borrrower nor a lender be

@mayka123 (17083)
India
January 23, 2018 1:41am CST
As kids we were taught not to borrow from anyone. Let it be money, books, toys or then any vegetable or groceries from neighbours. Now we have started borrowing from credit card companies. How intelligently do we use our credit cards? And how to manage when we overspend.
4 people like this
6 responses
Raijem
@raijem (335)
• Philippines
23 Jan 18
Use the cards wisely and only when you badly need to do so. Interests rates can be a pain. If you are already using it, use the rewards points or whatever they have in return for your usage of the card. That is one way of getting something from it.
2 people like this
@mayka123
@mayka123 (17083)
• India
23 Jan 18
Interest rates are a pain. And we are also charged taxes on credit cards. So it turns very expensive in the end. I do redeem my points regularly.
Piyush bhatia
@piyushbhatia1 (11695)
• India
12 Jul 20
Maybe because some people such as vijay mallaya got away with his loan people think can do that as well
1 person likes this
@mayka123
@mayka123 (17083)
• India
12 Jul 20
Not everyone who uses a credit card would be thinking like Mallaya. Some use it for emergencies. Some keep it because it's safer than using cash and when swiping it is safer than using a debit card.
@mayka123
@mayka123 (17083)
• India
12 Jul 20
@piyushbhatia1 Yes thats is scary.
Piyush bhatia
@piyushbhatia1 (11695)
• India
12 Jul 20
@mayka123 it is the rate of interest that scares me.
1 person likes this
lady Di
@lady1993 (27221)
• Philippines
23 Jan 18
My mom taught me the same thing But i still lend money to others, if i know them very well and not a huge amount either.But there was one time that someone did not pay me
1 person likes this
@mayka123
@mayka123 (17083)
• India
23 Jan 18
I have lent money to a lot of people and have not received back from a number of them. These amounts are to be forgotten now.
Judy Story
@jstory07 (148720)
• Roseburg, Oregon
23 Jan 18
My credits cards are only for emergencies.
1 person likes this
Raijem
@raijem (335)
• Philippines
23 Jan 18
Same here. And another thing is when you are out somewhere and an ATM is not available. I have had this kind of scenario before while on vacation. The place is like an isolated paradise where you can only use physical cash and of course a visa or mastercard
1 person likes this
@mayka123
@mayka123 (17083)
• India
23 Jan 18
I too use it only in emergencies. Or sometimes for online shopping because its safer to use a credit card rather than a debit card online.
@mayka123
@mayka123 (17083)
• India
23 Jan 18
@raijem I do not use my credit card at an ATM because we are charged extra for withdrawing cash from a credit card.
Marlina
@marlina (154103)
• Canada
23 Jan 18
I use my credit card to buy a big item for the convenience. But I pay it back right away. So I never pay interests.
1 person likes this
@mayka123
@mayka123 (17083)
• India
23 Jan 18
For buying expensive items credit card is indeed useful.
RedBurnet
@redurnet (1796)
• United Kingdom
23 Jan 18
I think some people misuse credit cards. I like to pay off my balance each month and only use the card for online purchases so I am sure if I get defrauded that I am protected.
1 person likes this
@mayka123
@mayka123 (17083)
• India
24 Jan 18
Yes most countries are protected from frauds through credit cards. Thats the reason I use only credit card for online shopping. I too ensure my credit card bills are paid every month.