they have advantages and dis advantages (Credit Cards in general)

Member Name: mishy306

Product:	Credit Cards in general
Date:	26/07/09 (9 review reads)
Rating:

Advantages: good to fall back on in an emergency

Disadvantages: easy to get into debt

Credit cards in general are very useful, for example if you buy something online i think you have slightly better protection if you pay using a credit card. They are good if you can get a 0% deal aswell so you are not paying interest. Its when they are abused that they start to give people trouble. The important thing to remember is you need to pay back what you spend, its not free money although it may seem like it at the time. Once interest is added on, if only the minimum payment is made the balance never really clears (well it does but will take years) and you could end up paying more in interest than what you actually spend. People need to be sensible with them and not spend what they can afford or would struggle to pay back. I think now credit card companies are becoming a bit stricter about their lending critera aswell, which can possibly only be a good thing

Summary: useful when needed