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  • Category: Miscellaneous

    Do you dislike using credit cards?

    I personally don't like using credit cards though I have and use also wherever necessary. However I have made it a point to not to pay any interest to the credit card company by paying the bill well in time. Now for online transactions other avenues like debit cards and net banking etc. are available. Credit card should be used as a tool of convenience only and not for buying expensive products on loan. Interest charged by the credit card companies is too high. There are stories of hacking, over billing, cheating also. What are your experiences and comments about credit cards?
  • #533120
    I have both credit cards and debit cards. I neither like nor hate credit cards. I use my debit cards for purchase of items. I seldom use credit cards. I use it only in emergency to meet urgent cash requirements of others as a help, ensuring that they will pay back within the time limit with the due interest. The interest levied is very high. Hence I am very careful with my credit card use. I think many times before inserting my credit card into the machine.
    No life without Sun

  • #533124
    I does not like Credit cards at all and even do not have any. I used to get phone call for credit cards from my bank, but all the time, I have same answer- I do not want it, Thank you!

    Living & Learning- simultaneous processes!

  • #533127
    I have credit card and use it occasionally, when I feel it is safe to use at a particular store. Till now I have made it a point not to use credit card for online purchases. And as the author did, I also never paid any interest or late fee etc for credit card. I pay the full due before the due date always.

    Certain Credit cards have option to pay either minimum due or full due amount. But if you pay the minimum due you will be charged interest on balance amount. By paying minimum due you will be avoiding only late fees. So it is better to pay full amount due on time.

    - Manjunath Bhat

  • #533132
    I also don't like to use credit cards as it takes interest and it should be only used while having emergency. So avoid using credit cards.
    Shrey Srivastava

    Shrey Srivastava.
    Past is always glorious , present is always troublesome and future is always hopeful.

  • #533136
    I do have a credit card as it came free with the opening of an account. However, I do not use it. My reason for not using the card is different. It has nothing to do with high interest rate and/or the safety aspect. I do not believe in taking credit, period. I will buy something only if I have the money to fund my purchase, if not, I will just admire the item and let it pass.

    Credit cards have made many people go into severe debt, as they spend beyond their means and are unable to pay the bank in time. Interests keep soaring and the debt keeps going up.

    Though credit cards offer a lot of convenience they are actually as bad as gambling and betting if not used properly. The best way to make purchases is to pay immediately. This helps in maintaining our finances properly.

  • #533141
    Even I do not like credit cards. There are mainly two reasons;

    Firstly, it costs us more money by taking interest. Secondly, with credit cards, we sometimes buy things for no reason because it pays the money even when there is no money in our bank account. Later, it takes back more money with interest from us.

  • #533142
    Credit cards are good if one can repay the credit within the stipulated time. In fact, that better ones credit scores and makes it easier to take loans for higher education, buying a house or a car etc. The loan limit is also increased if the credit score is good.

    Credit card users can also avail of great discounts often offered by various business houses. Airlines, travel agents, super market chains, insurance companies, electronic goods dealers, car dealers etc offer a better discount if payment is made through credit card.

    I have often noticed that when sales are on, credit card users of specific banks get an additional discount above the discounted price. So, in a way credit cards are good, but only if one repays the amount within the specified time frame or else one ends up paying more

  • #533157
    Credit cards are a convenience. They are very useful if used judiciously. Care must be taken to see that the PIN and CVC number are not shared with others. In times of necessity when we are out of station, they are certainly useful. I do not find any harm in using them.
    " Be Good and Do Good "

  • #533163
    I am using credit cards for the past 20 years and since my payments are in time so, I am not facing any problem. But the problem arises only when we pay the minimum amount or not paying in time. So, mere using the card for the purpose of shopping,travel etc., instead of having cash in hand is highly helpful.

  • #533167
    Possessing a credit and not using it, and not possessing a credit card is the same. Why should we possess a credit card , and don't use it, but pay the annual fee unnecessarily. So I suggest to the people who are holding a credit card but not using it, should surrender the credit card, and save the annual fee. Should we pay for holding the card in hand. It is like owning car, paying the tax and insurance, and not using it for our conveyance.
    No life without Sun

  • #533298
    So far I have not owned any credit card but always carry Debit cards with me. This would help to make purchases within our budgetary limits. Credit cards are more helpful when we adhere to the time limit of the repayment but many people lack financial discipline and post pone the things.

  • #533316
    Previously I was having the credit cards and doing the transactions through it. But what I found that we are being induced to spend more on credit cards just because we are getting the belated payment facility. For example, If I was putting two liters of petrol in my vehicle on cash transactions, I used to fill the vehicle full tank when I used the credit cared facility. Like wise my spree has increased tremendously and felt bothering my self while paying back. So I withdraw the credit facilities and now using only cash transactions for the product and services needed.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

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