How do credit cards work and do you have to pay something even when you are not using it?

Question

I'm wondering if having a credit card for the odd purchase is worth it

Answer 1

They're great for internet purchases as they offer more protection then a debit card.

They're great for your credit rating as a well kept card provides proof that you are honourable on the pay back front.  This is very important.

Most cards don't charge any annual fees anymore.  

Basically your personality does play a part here.  You need to apply commonsense to your card interest charges and realise that it can take yonks to pay off a card with the minimum each month.

Ideally you would clear it every month, or use if for the odd single biggish purchase and then clear it as quick as you can.

Answer 2

My credit card doesn't cost me anything when I am not using it. I

I mainly use my credit card to make purchase that would benefit from the protection offered by using the card, i.e. buying from the internet or buying big items.  I pay my purchases off every month, so that I do not incur interest.  It is paying interest which runs up your debts, so try to pay off purchases right away or as quickly as possible.  Remember that you will pay interest on the balance each month so will pay interest on interest incurred the previous month.

Do not be lured into spending more money than you can afford by being offered a higher spending limit.  Live within your means.

Pay your bill (or minimum due) on time or you will get charged a late fee, and then have to pay interest on that.

Answer 3

you can have credit cards for as long as you are responsible enough to pay... there are some credit cards that don't have annual fees and low interest rates... better get that one...  you may look on my source to find out more about credit cards...  

Answer 4

Yes, I think it's good to have one.  As long as you are responsible, having a credit card for odd purchases or random emergencies is fine.  I've never had any problems with mine.

Always pay off your card in time and in full each month...so that you don't waste your money paying interest.  

Just look for a card with "No Annual Fee".  Then you don't have to worry about fees.  Even if you have a card, you don't have to use it.  Some of my cards I may only use once a yr...it really doesnt matter...as long as you pay it off.

Answer 5

Don't do it! if I could go back in time the one thing I would change would be to NEVER have taken out a credit card. Due to my own reckless behaviour and also irresponsible lending I have ended up in a lot of trouble which I am now just starting to sort.

Answer 6

Provided you have used some of the credit given to you, you will pay it back in small amounts plus interest every month, even when not using the card, until what you owe is paid back in full. Depends on if you don't mind the idea of owing, if you do then I suggest you don't get one, also it's not a good idea for spendthrifts. But I would say, however, that they can come in very handy at times so you might want to have one or two in your bag, just in case... have fun.