Credit Cards - Great in the Right Hands - If you can't afford it, don't buy it!!! (Credit Cards in general)

Member Name: nigelcross

Product:	Credit Cards in general
Date:	29/05/09 (34 review reads)
Rating:

Advantages: interest free 30 days, points

Disadvantages: high apr %

Credit Cards have been blamed as a key reason for people getting into debt but I'm not sure if the blame has been correctly placed.

I have had a credit card (Tesco Mastercard) for the past 7 years (since I was 18). I have never got into debt with it or never been able to pay off the whole amount at the end of the month. My main reason for getting the card was that it game me extra points on my shopping at Tesco and also extra points on whatever else I bought.

For me the card has been excellent. It means I don't need to carry cash around and worry about it getting stolen. I also get an extra months interest on my savings, if I used cash I wouldn't get this. My Tesco points are an added bonus and mean I can treat myself to something nice every 3 months.

I think people who spend money they don't have on credit cards are mental! I also think these people know exactly what they're doing and just bury their heads in the sand hoping someone else will come along and take the mess away (usually parents).

Unfortunately I think the only people to blame for getting in debt are the people themselves, if you can't afford it - don't buy it!!!!

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