Do you think credit cards are more trouble than they're worth?

[klassicdoll]

Sometimes viewed as a double-edged sword, credit cards are convenient to use. However, there are dangers that go with it that may overshadow the advantages. From a certain viewpoint, it can provide a safety net and establish a credit history necessary for loans for unexpected expenses in the future. Even so, it may also create a tendency to overspend, resulting in increasing debt and high interest payments. So credit cards can be really both helpful and problematic. Nonetheless, it still depends on someone's financial habits and discipline.

 

[Starmix]

In my case, I surrendered my credit cards after it was gotten by fire and the band was merged so I was not able to pay my balance which was too small that time only 5000 pesos. After two years I was able to trace the merger bank, the BPI bank but I was shocked when I learned my balance from 5000 to 48,000.I complained to the Central Bank and BPI was sued. I surrendered my credit card and paid only 5000 as per order by my lawyer. I told the manager, take it or leave it.

 

[klassicdoll]

In my case, I surrendered my credit cards after it was gotten by fire and the band was merged so I was not able to pay my balance which was too small that time only 5000 pesos. After two years I was able to trace the merger bank, the BPI bank but I was shocked when I learned my balance from 5000 to 48,000.I complained to the Central Bank and BPI was sued. I surrendered my credit card and paid only 5000 as per order by my lawyer. I told the manager, take it or leave it.

Wow, that sounds really stressful! I can’t believe how much your balance went up. It’s great that you stood your ground and got it sorted out in the end.

 

[Starmix]

Wow, that sounds really stressful! I can’t believe how much your balance went up. It’s great that you stood your ground and got it sorted out in the end.

Yeah, that was outrageous. My ATM card was gotten by fire and I was not able to find the merger bank. I was able to find it after two years but I did not have it with me the card and they charged me that hilarious amount I had not spent.

 

[Springtime]

I use credit card a lot. My credit card is free of charge. I use credit card for cash back. I always pay my credit card bill on time. Never paid any interests.

 

[Starmix]

I use credit card a lot. My credit card is free of charge. I use credit card for cash back. I always pay my credit card bill on time. Never paid any interests.

That's so good in Hong Kong there is no charge of your credit. Ours here there is charge even if pay the bill on time. We have different policies.

 

[Augusta]

I use credit card a lot. My credit card is free of charge. I use credit card for cash back. I always pay my credit card bill on time. Never paid any interests.

This is the proper way to use a credit card if you want to enjoy it. You need to pay your credit on time to avoid high interest

 

[eLdavis]

Over here we do not have access to a credit card, we only have access to debit cards. I don't think I would want to make use of a credit card though.

 

[Starmix]

I surrendered my credit cards. I cannot control myself shopping. It's better ATM only and cash. I can limit my expenditures.