Is credit card good or bad in india??💳 - Page 2

I’ll go a little off-topic here, but I don’t think credit cards are bad per se. They’re actually very useful, and if you use them wisely, the rewards and benefits can be pretty good too.

The problem is the incredible convenience they give you. You can buy almost anything that comes to mind, anytime, from anywhere. And if you’re not good at controlling that impulse, it can easily lead to unnecessary spending.

I try to follow two simple rules for online shopping.

First, if it’s something discretionary, I almost never buy it the moment I feel I need it or discover it online. I leave it for a day or two. Surprisingly often, after 24-48 hours, I realise I can manage perfectly fine without it and that it would have just been a wasteful purchase.

Second, I try to remember this quote:

“If you buy things you do not need, soon you will have to sell things you need.”

It sounds simple, but keeping that in mind has genuinely changed my spending habits quite a bit.

So for me, the issue isn’t really the credit card. It’s how easy modern shopping has made it to turn every small want into an instant purchase.

Cheers,

Thank you, Vijay, for sharing your thoughts on this important topic.

Our credit history matters so much when applying for certain important possessions. In countries like Australia, the USA, and many other developed economies, your credit history and credit score can play an important role in your financial life.

When you want to buy a house, purchase a car, apply for a personal loan, lenders often look at your credit history to understand how responsibly you have managed borrowed money in the past.

A credit card can be one way of building a credit history. As Vijay rightly mentioned, by using it responsibly and making repayments on time, you may establish a record that demonstrates financial reliability.

Originally posted by: vijay

I’ll go a little off-topic here, but I don’t think credit cards are bad per se. They’re actually very useful, and if you use them wisely, the rewards and benefits can be pretty good too.

The problem is the incredible convenience they give you. You can buy almost anything that comes to mind, anytime, from anywhere. And if you’re not good at controlling that impulse, it can easily lead to unnecessary spending.

I try to follow two simple rules for online shopping.

First, if it’s something discretionary, I almost never buy it the moment I feel I need it or discover it online. I leave it for a day or two. Surprisingly often, after 24-48 hours, I realise I can manage perfectly fine without it and that it would have just been a wasteful purchase.

Second, I try to remember this quote:

“If you buy things you do not need, soon you will have to sell things you need.”

It sounds simple, but keeping that in mind has genuinely changed my spending habits quite a bit.

So for me, the issue isn’t really the credit card. It’s how easy modern shopping has made it to turn every small want into an instant purchase.

Cheers,

Thank you dear Vijay for sharing your views .

I second you .