POLL:Credit cards Good or Bad? Why?

[PRICEPLUS]

There are varied opinions on Credit Cards on this Board? What is your take and please post what that view might be!

[tinapbeana]

Re: POLL:Credit cards Good or Bad? Why?

um, my choice isn't up there

good ONLY if used with forethought and responsibility, but i would never actually call it a necessity (meaning i have to have one to survive).

[boefixepa]

Re: POLL:Credit cards Good or Bad? Why?

For me, I voted GREAT. But that is right now. A few years ago I would have voted differently and overall I don't think people use them the way they ought to. I'd miss the rewards, but my feeling would not be hurt if they were to disappear off of the face of the earth. I think the overall population would benifit if that were to happen.

I don't know the percentages, but I'd say overall they do more harm then good. I know I am years from breaking even on the rewards for the years I spent paying interest.

[PRICEPLUS]

Re: POLL:Credit cards Good or Bad? Why?

Sorry Tina! I wanted to keep it simple and let people express thier views more precisely in writing!

[Ima saver]

Re: POLL:Credit cards Good or Bad? Why?

They are not a necessity, but I do like the cash rewards.

[frugalmomof1]

Re: POLL:Credit cards Good or Bad? Why?

I voted great. I have 2 reward Credit Cards that I pay in full every month (unless I am getting a promotional 0% rate, which I call and ask for periodically).
A Sunoco gas card which applies a 4% rebate directly toward the balance every month. There is a spot for lifetime rebates on each months statement, and over 3 years or so I have earned over 3 months worth of free gas!
Discover Gas Card which offers 5% Cashback for the first $1200 in gas or automotive related purchases. Then maybe 1% on everything else. We use it for all major household purchases then pay it off before we are charged any interest.
Credit cards can work for you if you use them responsibly.

[Gruntina]

Re: POLL:Credit cards Good or Bad? Why?

Hmm in my case, the credit card are not a necessarily and I don’t use it for the rewards but only simply as a back up card if something happened to my debit card.

(This is totally a personal opinion of mine only)
However responsible people can be with card, I think credit card in general are bad for the economy in a sense that cost of living has gone up because we can now get "credit" for higher price loans on housings, cars and etc. I believe if we did not have credit cards, the housings/cars would not be as high as they are today.

If we were to strip all credit cards in this country, the appearance of looking like we are in debts would be a lot more obvious.

[sweeps]

Re: POLL:Credit cards Good or Bad? Why?

Here's to reward credit cards.

[pearlieq]

Re: POLL:Credit cards Good or Bad? Why?

Wouldn't want to go without them. Like anything else they need to be handled responsibly but they're both convenient and lucrative for me.

[PRICEPLUS]

Re: POLL:Credit cards Good or Bad? Why?

It is pretty interesting that so many places tell you not to use credit cards. It appears that is not the case with memebers here so far! Hmmmm???

[kristinecfp]

Re: POLL:Credit cards Good or Bad? Why?

It is pretty interesting that so many places tell you not to use credit cards. It appears that is not the case with memebers here so far! Hmmmm???

My guess is that this group is the exception not the rule! I'd love to be proven wrong, but I bet the majority of people do not use credit cards responsibly (maybe I'm being too pessimistic?).

[tabbycat31]

Re: POLL:Credit cards Good or Bad? Why?

for me I use mine because I am very uncomfortable using my debit card (due to past issues with fraud). I use it and pay off the balance monthly.

However when I was in college, I got in trouble with a CC so I would have felt differently then.

[Broken Arrow]

Re: POLL:Credit cards Good or Bad? Why?

My guess is that this group is the exception not the rule! I'd love to be proven wrong, but I bet the majority of people do not use credit cards responsibly (maybe I'm being too pessimistic?).

Yes, I'd agree with that assumption. I think, by and large, credit cards are more detrimental to one's financial health than anything.

However, the regulars on this forum, I think, are much more financially responsible than the general public. Hence the ability to enjoy its benefits rather than be trapped by its pitfalls.

And therein lies the real answer. Like a gun, I believe that it depends on the individual, and how responsible and capable they are with it.

[tinapbeana]

Re: POLL:Credit cards Good or Bad? Why?

And therein lies the real answer. Like a gun, I believe that it depends on the individual, and how responsible and capable they are with it.

and like a gun, there are those that feel that in some cases they are way too easy for some folks to get....

sorry for the mini rant, i'm still reeling from the knowledge there are more safety regs on teddy bears than on handguns and that in SC i had to wait longer to get my marriage license than DH's recent rifle...

[disneysteve]

Re: POLL:Credit cards Good or Bad? Why?

I voted Great (big surprise, right). I couldn't imagine life without my credit cards. I use them everywhere. I also have many household bills automatically charged to a cc. In 2006, our total charges were about $32,000 and we earned roughly $600 in rewards.

Without a cc, I would have many more bills to pay, either onine or by writing more checks. This way, one payment covers many bills and purchases. I'd also have to carry a lot more cash, which would also mean more trips to ATMs. This way, I only go to the ATM every 2 weeks to deposit my check. I hardly ever have to withdraw cash.