Do we really need credit cards in our life?

I think people can get by living without it. credit cards companies are like leeches. they suck your wealth all your life with their interest. easy investment for them.

I disagree that credit cards is a mean to teach you responsibility on balancing income and consumption. making meet ends with cash is the genuine mean to teach you responsibility.

borrowing "future income" through credit cards ingrain you with greed, impulsive behaviors and lack of discipline.

As for the point on financial freedom, nothing else than credit cards further you away from financial freedom.

Paying back mortgage with credit cards are like making double minus investments; you are clocking them with say 5% annual return to the mortgagers and 10% annual return to credit card companies. 15% return to them! Do you know that the compounded average annual return of the greatest inverstor in the world George Soros? About 20% give or take.

Paying mortgage with credit card loan is a form of slow death. Besides why do we even have to buy a house? Renting is enough. Buying a house is no good investement. Housings are not fluid markets. You can't get out and in quick enough..

Before the advent of credit cards, when people wanted to buy something but they didn't have the money, they accepted the fact that they couldn't afford it.

So I'd say no.

I agree with you but unfortunately, some people cannot survive on their wage alone. They use credit to pay their mortgage!

they're the curse of our society.....cut 'em up!!!!!!!!!!!!!!!

Avoid them if possible.

it is true, but really it has become how people decide to loan you money or not. Like it or not, its how it is and its not changing anytime soon..bad credit no load...atleast most of the time.

There are countries where there are no credit cards. Yes, we can live without them.

I've had one awhile back and it causes more trouble than anything and I will never get one again. I feel if you don't have the means to get it now, go without or save up for it.

Yes, "free" money with a chance to learn responsibility is one of the most important values tied with a credit card.

I don't have any credit cards, it just makes it tricky when I want to buy something on line (thankfully my friends/family let me use theirs).

I agree, it is easy money for them, but people have to take responsibility for what they send and when they pay it back.

I think people actulay need them at times. It can be easier then carrying around money, internet shopping etc..
Its become a part of everyday life pretty much some poeple realy do need to use them.

No, we don't. Buy everything with cash and only use credit when absolutely necessary. This is the true road to financial freedom. This is how rich people operate. Why do you think stars go broke after they aren't doing movies, shows, etc.?

I hate credit cards, I don't have any. But I'm a hippie, so.

I don't. Bankers are scum. Actually thats not true, scum is better.

Guess what, they never even had the money that they lend you in the first place, that you have to work like a dog to repay. 90% of it never even existed before you borrowed it.
Hows that for a scam. And it's completely legal. Hooray, billions in profits for the bank, just makes you feel all warm and fuzzy inside doesn't it.

Credit cards are convenient and useful so long as you are able to pay off your debts, otherwise you pay intrest. Then if you can't afford that you pay intrest on the intrest and so on.

What i do is i freeze my credit card in a container full of water in my freezer. That way i have it for emergencies, holidays etc... but not to spend on impulse goods.

Credit cards have taken the place of personal loans for small amounts since they were introduced. While mismanagement of credit cards can cause huge problems, they are still a very useful financial tool.

A credit card is more convenient than going into the bank and organising a personal loan for a small amount of money. Say for instance you are on a low income and have a few unexpected bills. Nothing you can't handle, in a couple of weeks. However, the next day, you find out you need a new car battery. Problem is you have no cash. Having a credit card, with a low limit and a low rate would in this instance be very useful. You could confidently use the card, knowing you could pay it back with your next few paychecks, and also the other bills. You need the car battery, because the car is your means to earn money. It gets you to work.

In this instance, the car battery is an absolute essential. Transport to work is a necessity, because that enables you to generate funds to pay the bills and pay off the credit card. This would be an appropriate use of the card. However, using the card to buy pink fluffy dice, new sequined seat covers, and a subscription to "Girly Car Driving Woman Driver Weekly" would not be an appropriate use of the credit card.

The problem with credit cards is twofold. First of all, they are very convenient. Once set up, they are an existing line of credit you can access anytime. Secondly, society has trained us to seek instant gratification. Credit cards enable this instant gratification in the worst way possible. We misuse them to buy non-essential items, rather than using them to negotiate a sudden, temporary blip in our cash flow.

We can't ban credit cards, just like we can't put limits on the amount people can shop. People just have to get wise about credit cards. They have nobody to blame but themselves. They authorise the increase in their limit. They use and misuse the credit. Rather than blaming credit card companies (who may prey on certain sectors of the community) people need to be responsible for their own use of credit cards. Sure, credit card companies might enable the negative behaviours, but it is consumers who choose to misuse credit and then must suffer the consequences.

I think credit card use should be taught as a life skills component in schools.

Best wishes

Visa & Master card came about in 1967. Before that, you had your dept store charge cards with a limit of $200 or $300. If they had a special sale for about $1000.00 they would set up a 12 months payment plan and if it was paid before the 12 months were up, there was no interest. Also don't be fooled by the special deals that you don't have to pay anything for 12 or 24 months. They increase the price to offset the loose.

Credit cards are necessary in today's world.10% of your fico score is based on the type of credit on your report, and without a credit card you're score will not be as good as it could be. Secondly, I don't know about you, but I like to book my hotels in advance, rent cars, sign up at video stores, buy things online, etc. Credit cards are convenient, and a lot of companies require them for their services. I think credit cards only suck your wealth if you abuse them and are irresponsible with your finances. What people fail to understand is credit IS spending your money, just not now, and usually at a higher price once interest is added to the equation. If you are smart, and smart with your finances, I see no problem with credit cards.