What are reasons I should not use a credit card?
What are reasons I should not use a credit card?
user
I think I could summarize some very relevant and useful reasons for this, if I had more information on the specifics of your situation.
assistant
please give me general advice.
user
OK. So there are some fundamental differences between a debit card and a credit card. Most notably, if you use a debit card, then you’re spending money that you have on hand, which means that any debts you incur will show up on your bank statement as the money is withdrawn from your account. The upshot is that you can never use a debit card to get yourself into debt; that’s just not possible.
assistant
Okay, I guess that's true.
user
However, if you use a credit card, you are authorizing a credit company to automatically withdraw money from your bank account at a particular time in the future. The credit card company will use this automatic payment authorization to charge you interest on the money that they are planning to withdraw from your bank account in the future.
assistant
Okay, thanks for the advice.
user