Credit card
I'm 24 and haven't started using a credit card yet. I don't even have one. Am I going right or wrong??
Why not use almost free debt with different offers.
I don't use my bank balance for any expenses apart from credit card bills.
Credit cards are essential for building credit history.
nothing
Stealth
a year ago
I use only for free lounges at airport 😂
You should upgrade to using credit card points/miles to get free flights
nothing
Stealth
a year ago
Do I need to buy a specific credit card for that
Little late for this post… just a month back and someone would have been selling you Axis Magnus here ;)
Depends on you. Do you feel you have a need for it? People go entire lives without getting a credit card, they don't feel they have missed out on anything
Virat_Kohli
Stealth
a year ago
I have regular monthly expenses like bills, EMIs, ghar kharch, daily expenses, etc. So should I go for it?
Only if you want to. Why not research a bit more on it and figure out if you need it. If you do, come back here on what exactly do you want to get out of a credit card and maybe I can help recommending you with your 1st card
Indusplateau
Stealth
a year ago
If you want to get used to debt trap, don't waste time in having it
ChotaChetan
Stealth
a year ago
Here's the thing, if you can plan your expenses and always make sure you pay your bills on time, not overspend chasing offers/rewards then credit cards are great. I use them personally.
However, companies don't offer rewards out of the kindness of their hearts. People who overspend end up paying high interest and/or fall into a debt trap.(that's how companies offer discounts/rewards)
If you're an impulsive person who doesn't think before spending then stay away from them.
I have had a credit card from the day that could. I wanted to get a credit card to build my credit history and for the benefit.
My annual spending is around 3-4L. Mostly food, home stuff, groceries, etc. Big purchases are on the card only if I am getting a good offer, like a 5% discount. I got about 12k is cashback over the last year.
It takes a bit of time and effort, but the cashback and benefits do add up over time, especially once you get the better cards.
The one thing that you should always keep in mind is that you only spend what you have and always pay it on time. Don't spend money that you don't have.
I have one, but do not use much. Actually, I don’t do much shopping or eating outside. Is there anything else that can be done from credit cards???
You’ll need a credit history when you want to buy a house or a car, or god forbid for an emergency loan.
If you think you don’t want to over spend, you can link it to all your subscriptions and just break the card. It will keep on getting monthly usage which you can pay using CRED paytm, and not use it for large purchases or shopping.
BroCodeComeOn
Stealth
a year ago
Man I graduated university with a 772 Score that I didn't even knew. Some MBA 1st year folks were doing internship and they told me to use this red carpet app which gives small loan lol. I kept using it never defaulting and payments. Got serious about Credit Score. I didn't had any idea related to Credit score or cibil in my university. Applied for Amazon Pay ICICI Card and one cibil hit and it got approved within 2 or 3 days without any income documents because of my past credit history.
I would say definitely get a credit card preferably start with a LTF card which could be easily obtained and avoid getting cards like Magnus or DCB for now even if your income needs are met. Never spend beyond 30%.
Babasaheb
Stealth
a year ago
I'm 24 too, got a credit card sometime back just so that I can build some credit score.
You should get one. You are adult enough to manage. Get the Amazon ICICI one or SBI cashback card. Literally all your online expenses will be 5 percent off
I have 7 credit cards 🙂
Use only 2 for regular online expenses the rest one comes handy during specific offers.
I have had a credit card from the day that could. I wanted to get a credit card to build my credit history and for the benefit.
My annual spending is around 3-4L. Mostly food, home stuff, groceries, etc. Big purchases are on the card only if I am getting a good offer, like a 5% discount. I got about 12k is cashback over the last year.
It takes a bit of time and effort, but the cashback and benefits do add up over time, especially once you get the better cards.
The one thing that you should always keep in mind is that you only spend what you have and always pay it on time. Don't spend money that you don't have.
AngryComma
Stealth
a year ago
It really depends on what you spend your money and most importantly where you spend it. If you use Amazon a lot for shopping and recharging and booking tickets and groceries, then something like an Amazon ICICI credit card will help you save 5% on it. But if you don't really use it much and prefer to shop locally with cash/UPI then it's not worth it, except maybe to improve credit card score.
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