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Are Credit Cards really worth it?

Started by Hayden, September 11, 2018, 08:09:29 AM

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neverrow

Others have addressed the advantages of a credit card which I agree with.

If you prefer to have your credit card act more like a debit card there actually is an "ap for that."  Debitize is a service that you link your bank account and credit card to.  When you make a new purchase the service pulls that amount into your debitize account and on a monthly basis they send the amount owed by you to the credit card. 

deific

Quote from: neverrow on October 31, 2018, 07:14:16 AM
Others have addressed the advantages of a credit card which I agree with.

If you prefer to have your credit card act more like a debit card there actually is an "ap for that."  Debitize is a service that you link your bank account and credit card to.  When you make a new purchase the service pulls that amount into your debitize account and on a monthly basis they send the amount owed by you to the credit card.
Or you can just sign up for automatic payments with the CC company and not run the risk of Debitize not working 1 month.

Cheezus

Quote from: neverrow on October 31, 2018, 07:14:16 AM
Others have addressed the advantages of a credit card which I agree with.

If you prefer to have your credit card act more like a debit card there actually is an "ap for that."  Debitize is a service that you link your bank account and credit card to.  When you make a new purchase the service pulls that amount into your debitize account and on a monthly basis they send the amount owed by you to the credit card.

If you run your accounts so low that you aren't sure if you can make your credit card payment at the end of the month, then it's probably a bad idea to have a credit card at all.  (not YOU, per se).  I would argue that someone who has very little extra funds or isn't very good/strict at managing their expenses should avoid a credit card.  The benefits may not outweigh the negatives and potential risk of racking up debt.

neverrow

Quote from: Cheezus on October 31, 2018, 03:34:21 PM
Quote from: neverrow on October 31, 2018, 07:14:16 AM
Others have addressed the advantages of a credit card which I agree with.

If you prefer to have your credit card act more like a debit card there actually is an "ap for that."  Debitize is a service that you link your bank account and credit card to.  When you make a new purchase the service pulls that amount into your debitize account and on a monthly basis they send the amount owed by you to the credit card.

If you run your accounts so low that you aren't sure if you can make your credit card payment at the end of the month, then it's probably a bad idea to have a credit card at all.  (not YOU, per se).  I would argue that someone who has very little extra funds or isn't very good/strict at managing their expenses should avoid a credit card.  The benefits may not outweigh the negatives and potential risk of racking up debt.

Seeing as I don't actually use the app, I just know it exists I can't agree or disagree.  I recommend it for the "feeling" of a debit card while using a credit card since that appeared to be an issue for the OP.  Personally I set and forget with automatic pay in full and don't have a problem with having non interest credit card debit.

ladymaam

FWIW, I don't have any credit cards. To date, my life hasn't been impacted at all, but I am slightly anxious about what it will be like when I want to buy a house. I know that there are non-traditional options, but sometimes I just wonder if not having any credit cards will be worth the trouble.

Hayden

Quote from: ladymaam on December 31, 2018, 09:30:36 PM
FWIW, I don't have any credit cards. To date, my life hasn't been impacted at all, but I am slightly anxious about what it will be like when I want to buy a house. I know that there are non-traditional options, but sometimes I just wonder if not having any credit cards will be worth the trouble.

I had the same thought. I figured that if I can get my head around how to use them month to month without holding a balance... why not?

Another note, I do not find it to be 'trouble' to use them. Set your usage and keep track so when the bill comes you can pay it no problem. Even better, set up auto-pay that way you do not forget.
Very Respectfully,
Hayden