What is your opinion on credit cards?

Credit cards can be useful, if used properly and safely. However, I'm personally not fond of them. Mostly because I've never been taught how exactly they work, and I'd rather not risk majorly screwing myself over.

 

I was anti credit at first, but learning the American credit system from an American... it does give advantages for people to gain what they want faster. And still could be safe, but it does always cost a bit more in the end then paying the "normal" way.

It has a dark and a light side

* I wanted to add I do find it a bit crazy that creditcards get send for free all the time, as soon as you hit 18...-in the us-

 

I have chosen to stay away from all forms of credit like that where you have to pay insane interest if you miss a due date. I spend a fare amount of money already, and I'd rather not give myself a reason to buy oodles of more stuff, only to realize that I can't possible pay off the debt when I don't make enough in the first place at the moment. Too much of a personal risk when I'm such an impulse buyer. XP

But, perhaps one day, when I have a somewhat larger income and on a reliable basis, then I can look into something like an Amazon Credit card, since that actually saves you money by earning you back cash, as long as you pay on time every time. And I practically buy everything I want through Amazon.

I think I've also been curious about... what was it... Chase Blue I think, and American Express. But it would depend on what those cards actually benefit you on, and whether I would be partaking in the required things often enough for them to be worth their own risk.

 

They can come in handy but you have to be really careful with them. you would need to both be careful with how you use them as well as which cards you get as well as their rates. I wouldn't feel comfortable getting credit cards tailored to specific stores mainly because their rates tend to be very large.

 

I see them as a bad idea, but a way for young people to build a credit score.

 

I use credit cards for pretty much all my spending, but I pay them all off in full each month. If I paid even a penny in interest I would stop tomorrow. But as it is I feel it's more secure, more convenient and I enjoy the rewards.

 

Good if used responsibly.

 

As long as you pay them off every month they're a great thing. Way more convenient than cash plus you can get some great bonuses for using them.

 

I like them. Much easier to buy things online and I don't have any issues over spending with them (thus far)

 

They are evil. The interest rates and fees are ridiculous. The temptation to use them is really hard to fight. Your better off useing small loans from a credit union.

 

They won't exist in a decade.

 

Very easy to get into trouble with, but great credit score builders.

 

The road to Hell is paved with credit cards.

 

Responsibly used, credit cards are a development in access to credit that allows consumers to smooth over sporadic pay periods, access resources that result in cheaper living (eg. a student who can't afford to keep taking taxis from their midnight shifts but who can't buy a bicycle without borrowing).

My finances are difficult as someone who's financially independent, currently ineligible for government support and unable to access credit. Credit cards offer a relatively low barrier to credit that allows for a great deal of financial freedom when used wisely and, due to monthly interest disincentivising reckless borrowing, allow for mass access to credit without moral hazard.

 

EVIL!!! To avoid at all costs (If you are ME, that is). I'm very impulsive, and have blown my budget a few times already, living larger than I can really afford to, and end up having to borrow money from my parents for fuel, and then my budget gets blown again as I'm paying the borrowed amount off each month. It's a vicious cycle that I'd hate to get into by means of unsettled debt. So no, I will never own a credit card, for that exact reason. If I don't have the money to buy something I want, cash - then that something can wait till I do have the necessary money. And during such time I can figure out if it's really necessary or if it's just a nice-to-have item that'd end up gathering dust and taking up space.

 

I do think it's important to have at least one major credit card. And having one is necessary for stuff like renting a car.

For me though I use my credit card only for bigger stuff...purchase of a computer, a surprise vet bill...stuff like that, never for day to day purchases. I don't do any store credit cards.

Having a good credit score is important because it can affect a lot. Many jobs and landlords now routinely do a credit check as part of your background check.

I actually prefer to go old school and actually go to the ATM and take real cash out of the ATM from my checking account to use for day to day expenses. Handing over an actual $20.00 bill (as opposed to sliding my debit card) makes the expense seem all the more real...and makes me really think--do I really need this? Helps me to be more in control of my finances!

 

Assuming fiscal responsibility and general financial acumen they're an advantageous way to open up an otherwise impossible market for those that want access to goods or services out of their reach by guaranteeing them in interest and asset assurance.

(But since I've had a good day today, I guess I'll be that guy:

They're the economic opiate of the masses that keep those in the wealthiest percentile by feeding off the interest shackles of the labouring proletariat.

Tho tbh I briefly considered getting one when I was like 19.

 

Probably a necessary evil, due to the need to have a credit rating in the US.

I, myself, didn't have a card at all until I was about 40. I always believed in only buying stuff I have the cold, hard cash for. Past that, people in my family had huge problems with credit card debt. So I definitely saw and recognized the dark side. But...I came to realize that credit rating is necessary. So I got a card at my credit union, and I make sure I pay it off each month.

It's also convenient for some things, such as paying bills on-line. But...my debit card worked just as well for that.

 

I have applied for a quite a few credit cards, they keep telling me no because I don't have a credit score... which the easiest way to build would be a credit card... which they won't give me, it is, for me, a never ending cycle of denials lol. I prefer to pay for everything with cash, but in todays society you need a credit score for everything. That is the only reason I keep applying for cards.