Credit Cards. Good or Bad

[Kasynlie]

Let's vote and discuss.

 

[Nebulous's iconNebulous]

Bad. You have to spend money (through interest / finance charges) to spend money.

Also people can get carried away with just swiping their card and not thinking about all the money they are going to have to pay back,,

If you are in a financial jam, you should just get a loan.

My bank allows me get an advance of up to $500... They take that money back when my paycheck gets deposited at the beginning of the month.

 

[Jazzy]

I have one credit card that I charge small items on and earn cash back. I pay the card in full and IMO having this credit card ups my credit score. Let's face it they check your credit score when you apply for a mortgage or loan. If I didn't have a credit card then they would have no way of knowing my credit history.

 

[Naviero X]

I have one credit card that I charge small items on and earn cash back. I pay the card in full and IMO having this credit card ups my credit score. Let's face it they check your credit score when you apply for a mortgage or loan. If I didn't have a credit card then they would have no way of knowing my credit history.

I'd say they are good for this. As long as you manage it really well, it'll help you out oodles.

 

[Greeneyes]

Credit cards are good things. People abusing them is bad. It's like with guns. Guns are not the probelm. The problem lies within the hands holding the gun.



Credit cards are 30 days of free credit. All you have to do is pay it off when it comes due. If you can't, don't spend the money!



When my washer went down, I went out and bought a new pair. I had 30 days to save the money to pay them off. I pay mine off every month and never carry a balance. As for using them to buy groceries, if you are doing that you have serious financial issues that need to be addressed.



They come in handy to rent a car or book a vacation or hold a hotel room.



They are good things. We have made them bad.

 

[Nebulous's iconNebulous]

All you have to do is pay it off when it comes due. If you can't, don't spend the money!

Easier said than done.

 

[manojob]

According to me, Credit Cards are bad if we use carelessly.

 

[Crys]

Bad if you are not responsible with them as in spending them up to the limit.

 

[passenger]

ONE is good if you strictly keep it paid up monthly.

 

[Dee]

Good if you utilize them properly. Bad if you fall for the traps of spending money you don't have, not paying off the balance in full, having too many, etc.

 

[MrDawn]

Credit cards can go a long way if you're responsible about it. A lot of young adults max them out and don't bother paying on them which is really bad.

 

[InMyOpinion]

They are good if you use them properly and how they were intended to be used. You use the card but pay back the amount owing right away or shortly after you get your invoice. If you don't have good self-control and if you can't pay back the credit card right away or within a month then it is definitely a bad thing. It is very easy to accumulate debt on your credit cards and with the interest rates it can make it difficult to completely pay them off. I see it all too much that people use the credit cards as an extra income and that is definitely not what it is for nor is that how you're supposed to be using it.

That being said if you use credit cards correctly it is good and can really help you raise your credit score. Though if you aren't good with money then credit cards are not for you and can definitely be bad.

 

[Cam's iconCam]

They can be good, they can be bad. It's all about who is using them. If you have the self restraint, you can do well earning cash back rewards and other perks while doing your usual spending. I'd also much rather use a credit card over a debit card, as it's much easier to deal with a credit card company vs. a bank if my card were to be stolen. When your debit card gets used, that money is gone. Totally out of your checking account, and then it's your responsibility to try and get the bank to put that back into your account. I've dealt with that process, and it took a good month to get the money back. Imagine having bills and such going on that you weren't able to pay because of that.

 

[passenger]

I'd also much rather use a credit card over a debit card, as it's much easier to deal with a credit card company vs. a bank if my card were to be stolen. When your debit card gets used, that money is gone.

YES! YES! YES! A thousand times YES!

 

[Grungie]

I’ve never had a credit card, and the only time I wish I had one was when I had to rent a car, as most places only take credit. I did find a place that takes debit, so dodged that bullet.

 

[The Jason]

My bank let's me do an overdraft of $400 usually. On top of that, I was approved for two $1000 loans even with bad credit.

Anyway, though, it needs to stop, except maybe the overdrafts and certainly I don't need a credit card

My ultimate plan is to pay back PayPal Credit and a bank so my credit is great again.