Should I get "Credit Card"? Or should I stick with "Debet Master Card"?

Question

Hi I qualified to get a Credit Card & I am not sure if I should. The only thing that I want is clothes & electronics. Or is better stick with Debet card & why?

Answer 1

When you charge items to a credit crad, you have to pay those items off at a later date. If you don't pay the items off by the deadline date, you are charged fees. Many, many, MANY people go into credit card debt because they put off paying their balances in full each month, which racks up fees. You then owe way more than you started off owing.

When you use your debit card, the money is already paid from your bank account, so everything is taken care of, and you don't have to worry about it anymore.

If you're going to use a credit card, you should be able to pay all your balances in full so as not to incur late fees. When those fees add up, that's where you get in trouble.

Basically credit cards are best if you want to charge a very expensive item to them and pay it off overtime, but hopefully before incurring a late fee. Or you can get a credit card that gives you rebates and rewards for everything you charge, but again, you have to be careful not to carry a balance.

Answer 2

Stick with the debit card. At least when you save and use the debit card you won't ever have to worry about paying the bill on those fancy new duds or the hd tv.
With the credit card you will have to worry about
over spending,
your limit,
late fees,
over the limit fees,
minimum payments,
interest payment,
your credit score,
identity theft,
bankruptcy.
With the debit card all you have to worry about is
making sure that there is enough money to cover the purchase
and identity theft.
And if you pay cash with the debit card you will probably look for a deal and pay less that you would if you used the credit card. Good Luck and happy shopping!

Answer 3

You have some very good advice here already. I would get the credit card but not carry it with me unless you are sure you can handle debt and not get yourself in trouble. It is a good way to establish credit. For day to day, stick with the debit card and you are paid as you go. Once you have one credit card, you will start receiving offers for more credit cards. Accept those that you can handle and that give you a good deal. I have one right now that is not charging interest for a year and gives reward points. I charged the roof for an apartment and intent to pay off the roof in the year of no interest. That's a pretty good deal. Plus I got $80 reduction in my debt for the reward points. Credit card companies will send you checks and offer all types of deals-some are good for you and most are good for them. They do try to get you hooked because they make their money from those people that don't pay off their debt each month. I use them to my benefit and am very, very careful. I don't want to pay any money out for interest, I might as well just throw it out the window cause that's exactly what you're doing. Just be very careful and very smart about what you do. . .and not just with credit cards. Good luck. . .

Answer 4

Well it depends.

If you can handle it responsibly and use it for everyday things being careful to not exceed 30% of your credit limit in any given month and pay it off in full before the due date. It's a great way to help build your credit since debit cards do nothing for your credit.

On the other hand if you run up the balance and make only the minimum payment each month you will get in trouble fast.

So it's really a decision only you can make.

Answer 5

I would stay away from credit cards. They are snakes and will bite you any chance they get.
The make all the rules and can change them anytime they want. They will hook you with a low inerest rate and then jack it up for any reason.
Live on what you make and stay away from credit. You'll have more money in the end.