I've worked and saved, and am still working and saving, for my current and future college expenses. All my peers keep telling me how convenient and great having a credit card is.
But I need some objective advice outside of the credit splurge, how essential are they?
They are a great for the person that cannot delay gratification. Buy the car or holiday now and pay later. Which is fine except that you end up paying sometimes nearly twice as much back. Does that sound like such a great idea to you? It all depends on if you like being robbed or not. I don't. But I still keep on using them. I have shredded them up though recently and swear 'never again'.
Credit cards are great for building credit which you'll need unless you hit the power ball or become extremely wealthy out of the blue.
If you use them correctly, they can be a great financial tool. The problem is people buy things on credit cards and act like they don't have to pay it back and end up living way outside of their means.
American Express is a great credit because you get a large credit limit but your expected to pay it back monthly, if not you get hit with huge interest charges. What if your car breaks down and you need $1500 dollars to fix it? What if what heater goes and you need $800 to fix? I think credit cards are essential (unless your very wealthy)!!!
very essential as the economy is kept going by the government thru credit. Budgeting is also essential. If you are unhappy with just working and saving for future college and living on burrowed money will help you getting what you want, so be it. It is a very good investment .
Sure they are convenient but stay away from them. You don't need any unnecessary debt.
Have fun buying a house, car, cellphone, or anything for that matter.
Credit cards are used to build credit. Without it, you will be living in apartments for the rest of your life, because you're all alone and nobody will accept you for your credit score of 200.
Using a credit card definitely helps to build credit. And just because you have one, that doesn't mean you need to have a balance on it. My technique is to pay for everything with everything with my credit card, but never to build up debt. Since my credit card and my checking are through the same bank, I just transfer money from checking every month to pay off the balance. Meanwhile, I'm building credit and rewards points. And I don't have to carry any cash or checks around.
Extremely essential from a credit score basis. You want to get a car, house, or insurance that is not going to cost you an arm and leg then you need credit cards to build up your credit score. I never knew how important credit was until I ruined mine. One positive thing about credit cards is they can be a plus if you are responsible. If you are paying your balance off in full each month and you have a rewards card it can having many perks besides just giving you a good credit score. They have gas rebate cards where you can save 5%/gallon of gas, cash back cards, or airline miles. Use these cards instead of cash and then pay them off at the end of the month and you can reap some huge benefits.
http://creditcardwarehouseonline.com
Credit cards have become a necessity in society nowadays, you can't go anywhere without having to use one. That's why it's imperative to maintain a good
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