Major credit card purchase

[Debashis]

Have you ever made a major purchase using credit, such as a home, car, or significant expense, and if so, how did you manage the debt and ensure it didn't negatively impact your financial well-being? What strategies or financial planning did you employ to pay off the debt responsibly, and what advice would you give to others considering similar purchases on credit?

 

[Grant]

I have not yet purchased anything highly priced with a credit card. When I think of using credit cards, I tend to use them to get food, pay bills, etc. Small things essentially as I like to pay those purchases off as soon as I can so that my credit score goes up.

A big purchase is a risk as you are required to pay that all off at some point, and there is likely interest on the payment. I would instead take out a loan if I want to make a big purchase, as you're much better off going through a local credit union or bank to take out a loan, and pay that off instead.

 

[Good-Person]

Have you ever made a major purchase using credit, such as a home, car, or significant expense, and if so, how did you manage the debt and ensure it didn't negatively impact your financial well-being? What strategies or financial planning did you employ to pay off the debt responsibly, and what advice would you give to others considering similar purchases on credit?

I do not like to use credit cards. In fact, I do not even own one in the first place, despite the fact that I am a kind of person who prefers cashless methods in order to make and receive payments.. I prefer using online payment processors. The sad thing is that many online payment processors are not supported by many businesses. So, using credit card or debit card may be the only option for many people. However, many people also use local electronic payment processors as well.

 

[Nomad]

I have a $300 limit on my credit cards. I cannot make big purchases through my credit card even if I want to. I mostly use credit cards to buy grocery and pay restuarant bills. I also sometimes use credit cards tro buy clothes and other household necessities.