Quote from: Zlantann on April 11, 2023, 05:42:10 PM

Quote from: cafter on April 11, 2023, 05:12:18 PM

the lesson that i learned here is that credit cards can be a valuable tool for building credit points/scores and making purchases, but they should be used responsibly and with caution. it is important to keep track of your spending(like keeping a journal), pay off the balance in full, each month if possible, and avoid carrying a balance that will increase interest over time. by being mindful of your credit card usage, you can avoid debt and maintain your financial health.

i am weak at economy, is it wise decision to use a credit card?

I don't like buying things on credit so I have always avoided applying for credit cards. If you want to live a financially free life, you should avoid debt. The scariest part of these credit facilities is the interests. I don't want to be indebted at an old age that will make me keep working till death. I think I should have the opportunity to retire peacefully and debt free after my children have left home. That is why I only buy what I need and not what I want so that I can stay debt free and have extra money to invest
.
It's not bad to have credit cards but you should have the ability to control your expenses. Credit cards could be helpful especially if you have spent part or all of your income on investment or something important. You need it to keep life going. But it shouldn't be used to buy things that are not basic.

Same here, using credit card cannot be called independent since there will be time where you will be too dependent on that card even if you didn't have much money. I have once avail a credit card before but didn't use it too much and decided to stop coz it felt like I am trap inside a deep pit of debts.