Credit Cards

Anandchitra · Nov 17, 2007

It is probably the next best thing to sliced breads. Such a breeze to use them. With them in hand shopping becomes enroute to a la paradise. Really what fun. Just go and buy whatever you want and use the CARD. Such a small piece of plastic gives you so much power. Many do not even realise that they have to PAY for these purchases which is going to appear in the next statement. What is it about these cards that gives you a feeling of illusion. Me I'm still old fashioned that I carry cash around. Nowadays sometimes the debit card. But almost always use cash. Except for transactions at the Mall which is very rare maybe once or twice a year. So my day to day works on cash. Really I think i'm the only one this way. Everyone seems to flash open their wallets to reveal hordes of cards. All assorted . Color color and some shining and some in gold and some in silver. blink ?? me, have just the one and then drivers license. Nothing to flash really. It looks like I'm dumb and not taking advantage of our dear plastics. But I feel having cash and dealing in cash gives me power. I feel I know how much I have budgeted and am in control of expenses as they happen and at all times just need to count to know where I stand. I dont get it why there's not many like me. Or why is this considered "weird". I am yet to jump over to the age of plastics. Have you all already jumped or what?

Vysan · Nov 17, 2007

Dear AC,
I will not say credit cards are always bad... At times, when you go for shopping, instead of carrying a lot of cash in your hands, this comes in handy... You need not have to be afraid of carrying cash... Also you can plan your payments... There are lot of advantages... It also gives you lot of discounts / insurance / cash flow etc... depending upon the banks etc.. There are so many advantages which we can keep listing... But again it is twin edge sword... You should know where to stop your shopping... If you dont and go overboard... You will end up in huge debts... Similarly you should keep your payment schedules timely... Otherwise you will be ending up paying lot of penalties and interest... On a whole, you should plan your finances properly...
I always have one card and not more than that, so I need not have to carry too much cash....
The recent survey in India shows the lifestyle of people have changed... They borrow money for their style of living and keep paying and repaying only... I know people who keep rotating the money by taking money from one card and paying the other card... without really repaying the loan and with the interest the loan amount keeps expanding.... So, at the end of the day, if you know ur finances, it is a very good asset, if you dont... then it will ditch you right royally........

Anandchitra · Nov 17, 2007

Dear Veda
Did not mean credit cards are bad. It is a convenience ofcourse Like you say its a twin edge sword Need to know when to STOP because many people do tend to forget that and go overboard.

Chitvish · Nov 17, 2007

But, I find it safe to carry my credit card, particularly when I travel !
It is in my handbag, more as an emergency measure, rather an emotional back-up !
Married to an accountant, I am answerable to V for all that I spend ! So, credit card or cash - I cannot exceed my limit, ever !
Love
To
Chitra
From
Chithra.

Shobanag · Nov 18, 2007

Chitra - I am totally your opposite. I do not carry cash - only my credit card. I have one debit card and one credit card. I usually use my credit card for all purchases - then write one check. I dont like carrying cash. As long as one is disciplined in paying the monthly charges, I find it convenient. Unless I am going somewhere where I will need cash, I usually dont have much cash in my wallet!! I also use my credit card to earn cash for college - it is a Upromise card - so 1% of purchases gets credited to my account which is invested. You go to the mall only once or twice!! I love shopping - not necessarily to buy but window shop - my daughter and I love do that - am waiting for her come next week so we can check out the Christmas sales!!

Anandchitra · Nov 18, 2007

Shobana
Your way makes sense and also better and easy in the run. Will start with it this shopping season. I too luv window shopping but need company and for now busy being taxi mom so that doesnt work. Moreover if I had a daughter things would surely be different dont u think? I can imagine what fun its going to be for you when your daughter comes home. There are many things that you would want to catch up with including talking.??!!

Meeta · Jan 16, 2008

Hi Dear AC,
I prefer to carry credit card as well as very little cash (for emergency). I prefer paying by credit card because I am shy in counting the cash returned by the cashier......and to avoid this, credit card is the best rescue.....I don't have to calculate how much to pay and how much return, I should get.
OK, for a shopping lover, nothing matters whether she is paying hard cash or through credit card. I only mind buying things and payment is alwyas taken care by DH.
We have a joint account, so he is in charge of paying the credit bills.......but let me tell here, I never go beyond my budget to a large extent.
regards.

Arunarc · Feb 20, 2008

Dear Anandchitra
I can never say credit cards are bad it is very very handy. it is so convient to buy what you want, you never go short of money while shopping. But after coming to Egypt I have a different problem. in case you want a credit card you will get it only after 3 or 4 months after applying for it and even you get one it doesn't work in most of the shops so it is a total waste. And now have to carry cash a real pain as have to carry the bundle of notes, and the change gets collected..........As most of the shopping has to be done by me so it is me who have to carry, in case i ask my hubby to carry he says on no I will buy a new big purse for you........smiling for glory
As both of us are not in handling cash from the beginning......but now have to adjust how time comes.