As we know credit cards is somehow known in our society. There are people who are grateful if the bank approve their application for credit card. There are people also who don't like having a credit card because it will bring you to debt. Is it wiser to have a credit card or nothing at all? Based on your experiences, what are the pros and cons of having a credit card?
The advantage is that it is convenient to carry and also that it can help you out if you're in a financial pinch. The disadvantage is that you are feeding the banking monster if you only pay the minimum payment each month. Eventually, it could catch up to you and then you're just paying them forever. The banks want you to borrow, they want to own you.
About ten years ago, I made the mistake of actually living on my credit cards, cause jobs were scarce and ran up some debt. I'd never do it again unless it was an absolute emergency and I needed to pay for medical, dental or moving expenses. I'd never use a credit card for daily living expenses cause those are variable and can add up so easily especially when you know you have all this 'free money' available from the credit card company.
