We increase our Debts like any thing when we have Credit Card because we spend /buy the goods with free hand / shopping habits, in this case will it not be a better to keep a debit card instead of a credit card?
What r ur views on this subject?
I don't own a credit card. I always use a debit card because that means I cant spend the money unless I have it!
I also make sure that i keep the majority of my money in a savings account that I don't have access to with a card. This way I can keep a few hundred in my debit card account to spend, and the rest of my money is safe if I go crazy with the card one day
I don't own a credit card. I always use a debit card because that means I cant spend the money unless I have it!
I also make sure that i keep the majority of my money in a savings account that I don't have access to with a card. This way I can keep a few hundred in my debit card account to spend, and the rest of my money is safe if I go crazy with the card one day
Thanks 4 the response Capuchin & I do agree with lot of Ur points but, difficult to digest the words....“I don’t own a credit card”
How one can carry on to live without any hazels in this materialistic world until & unless one does not have his own Credit Card? Here goes a Practical Example:-
Recently I paid the Admission Fees of a Foreign University for my son just 2 days before its last date, which would have never been possible if I have gone through normal postal or other procedures!
I have used credit cards since about 1970 when my bank mailed me a Master Charge. Despite a few periods of unemployment in that time, the biggest jam I ever got into cost me $6 in interest to get out of. I prefer using other people's money and all but a handful of times I paid the bill in full when it came. If you have the discipline to live within your means, you shouldn't have problems.
The only advantage I see with a debit card is that a few places will take them that won't take credit cards. Aldi's is one. Shopping there rather than Krogers, is one the ways of living within your means. It would be more profitable for the banks and stores to force people like me into debit cards. I can always pay cash at Aldi's.
There is nothing wrong with using credit cards or even credit as long as it is managed wisely. I can safely say I would not be living as comfortably as I do without the use of credit. Even through some periods of unemployment I have managed to keep my credit rating high and not have problems.
But I do agree that credit cards can be very dangerous, especially to young people who don't know how to manage them.
ScottGem is right if managed well credit cards can be good. I personally use my bank for credit since the rates are alot better than credit cards, and the debit card for other things.
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