Except for perhaps "shopping for rewards" and the stupid "unsecure website usage" I think this list lacks credibility. For instance, emergency by nature of the word means money or the cost thereof is secondary. Again, while abroad it is safer to pay the premium of additional conversion rather than transact in cash. I think the author has to learn a lot.
1. When you are purchasing some things on the first day of your next billing cycle 2. When you are buying fuel 3. When you know for sure that you will have the money in your account next month, but no money now to buy some stuff which is on discount 4. When some stuff is available online lot cheaper on a secured web site 5. When buy groceries where they refuse to pay the change for 60, 70, 80 paisas 6. To pay insurance premiums 7. To buy some big items, but know for sure that you will not go for installment payments 8. To pay your utility bills 9. To buy your flight/train tickets 10. When you know you have complete discipline on your finance matters
It depends on an individual. For some time is money. So they don't care about whether they by 33 or zero percent as interest on CC transactions. For them convinience is very important. Hence CC is good to them. For others every penny saved is penny earned. So they will prefer to use cash and save on penal charges. for them they don't mind spending extra time at the counters or withdrawing cash from ATM for cash purchases. There are some intermediates who sometimes like cash purchases while at other times CC is convinient to them. So one should weigh pros and cons of using CC before arriving at a decision.
We dont need credit card - Save Save Save ! instead of paying 33% of interest on your spending. CC leads to abusive spending and stress. Simple thing is dont take a credit card and live happily !
The only thing I have ever seen on rediff is NOT TO USE CREDIT CARDS. The fact of the matter is that if used correctly, credit cards are far more comfortable than carrying cash in your pocket. The writer of this article surely does not know or understand that.
Re: These guys know nothing about cards
by Sexy Sam on Nov 01, 2010 04:36 PM
credit card is marvellous if you use it judiciously! there is no substitute!
Re: Re: These guys know nothing about cards
by Rajib Chakraborty on Nov 01, 2010 04:58 PM
You are absolutely correct. I have been using credit card extensively for the last 11-12 years and till date I have not faced any problem at all. (Touchwood !!).
It is of course a matter of having control over ones own impulses, etc
Re: Re: Re: These guys know nothing about cards
by RathaChamundeeswari Angalamman on Nov 03, 2010 01:06 PM
Today, you use a credit card means you pay for shopping only next month. You dont pay Extra PLUS your savings A/c will keep earning 3.5 percent interest on daily basis.
I am usibg CC for buying home needs and grocery to avoid delay in exchanging cash at the billing counter.Most of the time the billing gal will ask 50 paise,1 reupee or someother omount which we will not have.And invariably most of the times they wont give balance amount of 50 paise and other smaller denominations which will become a sizable extra income to them and to retain them the shop owners wont mind them.In the mean time the fellow behind me will becomme nervous and impationt to watch the denomiation debate at the counter.SO TO SAVE TIME AND MONEY IT IS ALLWAYS CONVENIENT TO USE CC.
Credit card is like a live bomb in your pocket.Dont use it beyond your earning capacty.Again if you are in your hometown better use it to the minimum.If you are going out of town carry it with you,Because carrying cash is not advisable and you may have to make some unforseen expenses.CC also encourages you to buy something which is not immediately required by you.Control you temptations.
CCard is like a knife.. if you handle with care, it can work wonders. so easy and so convenient. I use it even for my daily expenses, because it acts like my personal but unpaid accounts manager. I know where and how much I spent; but I always make sure to pay the full amount as soon as the salary is transferred - no min payment nonsense. Finally keep ONLY one card. It is a boon, believe me.
