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Gali29

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Are credit cards a good thing?

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Credit Cards Can Be Good

A credit card can be a good thing to have.  I order online with one all the time.  I take trips a couple of times a year and make my lodging reservations using a credit card.  And, if I encounter something on sale and didn't get to the ATM before going shopping, a credit card can be good.

BUT---It can also be bad news if one does not have the self-discipline to know when something they think of buying is a "need' or a "want".  And it is so much better to pay a credit card in full every month instead of carrying a balance or using it up to the maximum credit limit.  You end up paying a whole lot extra (interest) when you carry a balance.

I'm old enough to remember when only the wealthy had credit cards and those were usually Diner's Club or American Express.  Regular people saved up for somethjng they really wanted and the only credit accounts most people could get was for a house. 

I still think saving up for major purchases is a very good idea because you then realize just how much work it required to be able to pay fo rsomething instead of just pulling out a card and signing your name.  But I do have credit cards, am paying them off and using them cautiously. 

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