Whenever we think of credit cards, we always have two things in mind: A credit card is an evil or a credit card is good. If you love to shop or paying conveniently, a credit card can be your greatest ally but if you are an impulsive buyer, then a day will come when credit cards become one of your worst financial enemies!
For me, a credit card is both a friend and a foe.
Credit card is a friend for me because it serves as my source of emergency funds. Hospital nowadays accepts credit cards as a way to pay for your down payment when your patient needs to be admitted. Aside from that, you can buy medicines immediately. And if you fall short of the family budget, you can buy food, school projects and many more in a short notice.
Credit card is a foe for me because sometimes I am so impulsive. If I see bargains (or I think it’s a great bargain), I can easily get my card, swipe it and pay for it later. And when later comes, I find myself short of the budget thus will be paying the item on an extended time with big interests!
My Conclusion on Credit Cards
Actually, a credit card is a great financial tool when used as it should be. It can be your best friend in times of troubles but can also be your worst enemy if you don’t handle it properly. So a credit card is never bad. What is making it bad is when a user doesn’t know how to handle financial situations involving a credit card. And more often than not, the credit card user doesn’t read the terms and conditions of the credit card they applied for and they will end up in shock when they see the bills and the interests!
To learn more about what credit card you should apply for, visit Credit-Card-Surplus today. This site is full of valuable information on credit cards and what which of them will suit your needs.
Well its about discipline and proper credit handling. I like that you both explained the pros and cons of having it. =)
It depends on your level of self control. If you only purchase what you can afford to pay every month, a credit card is a handy tool. I use mine to earn frequent flyer miles on an airline and will use them on a big vacation next year. If you can’t control your spending, a credit card is your worst enemy.