Credit Card

**cinema** · 02-13-2012 12:37 AM

What are the pros and cons of having a credit card?

**stelalouis** · 02-13-2012 01:21 AM

I think you need to clear the same from either a bank or a credit card company. They will guide you best and will tell you about the same.

**renu** · 02-13-2012 12:46 PM

It is the easiest way to have credit but it is very painful if you fail to pay the bill within due date. The rate of interest after that is too high.

**shek** · 02-13-2012 11:02 PM

Pros
No need to carry cash while shopping
No need to pay interest on money used for specified period

Cons
Misuse of CC online/offline
Makes you dependent more on loan.

**Rancid** · 02-16-2012 09:56 PM

Originally Posted by cinema

What are the pros and cons of having a credit card?

There are no serious cons if you have half of brain...

**shek** · 02-19-2012 12:08 PM

Agree.. But most of the people in the world don't use it well !

**tex** · 02-19-2012 01:40 PM

There are no pros to debt mate. You are a slave to debt which is what a credit card does.

**shek** · 02-20-2012 12:01 PM

Maybe you are too harsh on CC, I do agree it does come under debt, but you can still use it for convenience (as I stated earlier)

**Jordan** · 02-20-2012 01:41 PM

Pros:
Access Money you don't have
Can build your credit score (or destroy it)
Can use anywhere just about or online

Cons:
Debt, I agree with Tex - you are a slave to your debt.
You end up paying more for an item vs. paying cash or using a debit card.
You are tempted to buy items you don't need with money you don't have.

**Marissa May** · 02-20-2012 04:33 PM

Pro: Money for an emergency when you need it.

Con: High interest rates. You pay far more for interest than you borrowed than you would if you had borrowed from a bank or friend.