Re: Credit card
Originally Posted by
Jimmy
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What's the point of credit cards if you have a debit card? you can pay by debit card for everything, if you can't afford it don't buy it
The credit card companies want you to go in debt so they can make money from you.
There are at least four reasons for having a credit card in my opinion:
1. You can hold onto your money for a bit longer and potentially earn a little interest on it during that period. But this obviously only pays if you pay it off in full every month.
2. My credit card gives cashback annually, therefore saves a little more.
3. You have some insurance against faulty goods/non-delivery etc as you can claim the money back from the credit card company.
4. Have you ever tried to rent a car? In many, if not all, cases this is impossible without a credit card.
I use my credit card for everything that I can provided there is not an additional charge for paying by credit card, and this not only earns me cashback and security, but also gives me an easy way to watch my spending by checking the statements. I ALWAYS, however, pay it off in full and never buy what I cannot afford.