Quote from: Ultegra134 on November 24, 2021, 09:16:57 PM

Quote from: Fredomago on November 24, 2021, 08:32:18 PM

Quote from: Quidat on November 23, 2021, 10:33:25 PM

Quote from: Ultegra134 on November 23, 2021, 04:07:59 PM

Quote from: Lotus on November 23, 2021, 06:57:59 AM

Quote from: Ultegra134 on November 21, 2021, 03:56:39 PM

Undoubtedly, they are convenient when purchasing something of value, an expensive TV or bicycle for example, in cases where paying in advance is out of the question

That sounds like the wrong reason to use it in most cases! Unless it's interest-free, you're almost always better off just waiting and saving up to make the purchase.

I only proceed to use installments when an interest free option is offered. I'm not willing to pay 10-15% surcharge just to get installments. Likewise, I'll rather wait and pay in advance. I've never used it to buy something I couldn't afford, and wasn't offered with interest-free payments. It's just not worth it.

Buy only on what you can afford and able to pay and this should be your main priority or need to follow when it comes to financial handling because you couldnt really able to resist on spending
if you do know that you have something in your pocket or wallet that could possibly able to buy things on point on using your card and we know that interest is really that high whenever you
do past due into your payment thats why if you dont like to put yourself into trouble on paying up huge fees then better to be considerable in every actions you would make.

You will end up feeding the CC company when you failed to pay those overdue, it's really important to control yourself each time you use your CC, always check and balance if you really need the items that you'll going to purchase, most of the time, it's best to use your CC in every emergency, things like you've got short in balance but you have some expected funds to fill it up.

If you miss-manage your CC, expect that there many consequences that you will going to face, Roll Eyes

It's you who can determine whether it's a tool or a scam that will suck your finances. Grin

Haven't missed a single payment so far, so I guess I'm managing my credit card correctly. It requires discipline and great management skills, but if you're careful enough, in some cases, the benefits are totally worth it. Especially in the USA, I've read about enormous cashback, or flight benefits (Free flights, seat upgrades and so on), which we do not have here.

It's a great tool if used correctly, however, most people fail when using them, and that's what banks are aiming for.

Of course. When you're using it to breakdown payments with no interest, then that's a good use for the card (assuming of course you are relatively confident you can pay it). In fact, that's almost like free money in a sense.