Quote from: Wind_FURY on Today at 11:16:56 AM

Quote from: Ultegra134 on April 15, 2023, 03:25:02 PM

Quote from: Wind_FURY on April 15, 2023, 01:45:57 PM

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

i am studying in college, i was really excited to get my first credit card Wink

. i thought it will give me a sense of independence and allow me to buy things i could not afford with cash.

though, i quickly learned that credit cards can be a double edged sword. while they can be helpful in building credit, they can also lead to debt and financial trouble if not used responsibly.

at first, i used my credit card reasonably, only for like emergencies or small purchases that i knew i could pay off in full each month. but as time went on, i began using it more and more for larger purchases and impulse buys, without really thinking about how i would pay the balance off.

before i knew it, my credit card balance had blown up to several thousand dollars, and i was struggling to make the minimum payments each month. the interest charges alone were eating up a significant portion of my income, and i felt like i was going under debt.

OP, NEVER USE YOUR CREDIT CARD FOR "SMALL PURCHASES", ESPECIALLY FOR UNIMPORTANT PURCHASES.

For emergencies yes, and for IMPORTANT large purchases for items/things that you truly need, like a laptop to use to be more productive and earn money, or an item that you can use to start a small business = definitely yes.

Not necessarily. I've been using a credit card since I was 20, in university, with a small credit limit though. I always paid the monthly bill on time and frequently used it for petrol, groceries, or even other purchases because I was receiving a small cashback each time. Now I have a proper credit card with a large limit that I used to buy my motorcycle in interest-free installments, on which I also received cashback. I'm using it almost everywhere to take advantage of it; it's not too much, but it's still better than nothing.

The trick with credit cards is to pay them always on time and to not fall into the trap of installment payments, buying things you don't need or can't afford and going into debt for several years in order to repay them.

Petrol and groceries are things you need, it's definitely OK. I'm talking about those small purchases like trendy clothes that you don't need, or something like sunglasses, just things that we want and don't truly need. Because if you can't afford to pay in cash, don't pay for that on credit. It would be a different situation if the person is rich.

But it is more better to have not a credit card right? I don't know if we are the same view but for sure you'll be tempted to buy those things as you have your credit card with you , to force your self not to buy those things it is better to have cash or something card like debit/visa card that has money on it and then swipe it if ever you buy something because that is for sure you can buy it as you have your money with you unlike in credit card that you will do it monthly meaning you don't have money on that