Credit Card: Is It Good to Have or Bad?

I Need Cash But I Don’t Want To Borrow

I’m sure you just heard from others having a credit card would only make you poor. Why? Because according to them you will be tempted to use it to have the things you desire even though you don’t have cash at that moment. Things you love to buy will be given to you instantly as long as you make use of other people’s money (the credit card company). Others recommend you to have credit card due to unexpected situations you may face in the future (emergency or necessities).
 
Anyway, I build this article to give answers to people who still consider having a credit card. Spend your time and attention here and learn the importance of what so-called money-spending thing.
 
Enjoy and have fun!
 
The image above came from wpclipart.


This Is True!
“You only live once, but if you work it right, once is enough.
– Joe E. Lewis”
This Is True!
“You only live once, but if you work it right, once is enough.
– Joe E. Lewis”
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This Is True!
“You only live once, but if you work it right, once is enough.
– Joe E. Lewis”
This Is True!
“You only live once, but if you work it right, once is enough.
– Joe E. Lewis”

My Answer To Whether Credit Card Is Good To Have Or Bad..

Actually, having credit card depends on how you use it. If you use it wisely, it is good to have but use it poorly then you’ll be drown alive. What I mean is don’t use it just to have or acquire your wants, use it only to provide your needs. It’s as simple as that. Besides, I read and heard from one of the well-known businessmen and Filipino authors, Francisco Colayco, if you really need it for your growth, use other people’s resources to improve the current state of your life. Meaning if you don’t have money right now, you can take advantage of their money as long as you will pay them and based on both party’s agreement. And that loan should be served as your capital in your business to earn enough or more than what you will pay for.
 
So again, I ask you, “Is credit card a good to have or bad?”


Things You Need to Know: Before You Get A Credit Card

1. Make sure you have an expected money twice or once a month which can be used as payment to your credit card loan/debt.
 
2. Purchase only on things that are really important.
 
3. If you don’t want your loan to have a monthly interest, be sure you paid all your credit balance and don’t use your credit card in one whole month.
 
4. Since you use other people’s money in times you badly need it, credit card companies charge you a fee every year.
 
5. Having credit card to purchase appliances has no interest at all (you will be charged by the real price of that appliances) but I’m not advising you to use on this kind of things.


I Find It Useful!
Are you tired of waiting for your monthly credit bill? I’m sure all credit card companies offer you an online account to lookup for your debt/loan transactions. I find it useful and track the usage of my credit card. Enjoy! =)
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2 Things I Discovered In Credit Card

I have known lately two terms in a credit card vocabulary. Cash Advance and the other one is Cash Installment.
 
Cash Advance
 
Cash Advance is the withdrawing of money from your credit card. In other words, turning your available credit balance into a real money. Instead of swiping your credit card to purchase things you want, you prefer to get cash and use it to your transactions. The only drawback I see on using this credit card feature is of course there is a fixed interest rate like 3.5% monthly (or it depends on the credit card you have). But it will be useful especially if the one you transact with does not accept credit but only cash.
 
 
Cash Installment
 
Cash Installment is better to me than Cash Advance because the method of payment is already fixed and computed monthly and based according to the agreement between you and your credit card company. They are almost the same because you can have a cash on hand but low interest rate (I think 1% interest). You just have to comply with the fixed amount you must pay monthly and you are expected to complete the months of payment.
 
 
That’s all! I hope everything is clear and you gained another source of knowledge by reading this lens. =)


Updated On:
February 10, 2013
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Bio
Actually, I’m just new in the world of credit card coz I got mine a month ago. I decided to create this article coz I can see the benefits of it. I believe before that having credit card is just another expense to mind of but not anymore. Wanna know why? Then, start reading from top to bottom.

Enjoy! 🙂

Read My Other Articles

If you like what you read here, then check my other articles.


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