Have your say: Do you not have a credit card?

Are you or your family one of those who do not use a credit card?

How do you manage without plastic money?

We would like to hear from you. Let us know at readers@gulfnews.com or fill in the form below to send your comments.

I've never tried to own a credit card myself to avoid any financial trouble, my husband owns one plastic but we rarely use it, for necessary needs only, not for the pleasure of wants.
Nora
Dubai,UAE
Posted: June 04, 2008, 14:51

I don't have a credit card. I don't think I quite need one either. Except when I think about buying some books online, I don't really feel the need of having a credit card. I'd like to manage my money the old-fashioned way, as I have more control of my expenses and personal finances. Having credit card(s) is the most inefficient way of managing your personal finances. Try calling a call centre to figure out why your credit card statement isn't the same as it should have been. However, just one card to take care of your online purchases and bill payments doesn't hurt as much.
Anand
Abu Dhabi,UAE
Posted: June 04, 2008, 14:47

I do not use any credit card, with what ever offer they may come with. I am follower of the conservative school of Financial Thought, "Save for the Rainy Days". Those who support the usage of this plastic money follow the New School of thought, "Spend in Advance"
mohammad
Abu Dhabi,UAE
Posted: June 04, 2008, 08:16

Credit card is a big hell of interest. Once you will be in credit then very difficult to take out yourself from it. I have cancelled all my cards. Without cards I noticed that I can meet my expenses and even some chance to do saving. I would not advice any of my friends to apply for a card.
Aqif
Abu Dhabi,UAE
Posted: June 04, 2008, 08:15

I am a holder of a credit card for the last 12 years. At no point of time, I have over spent my limit and am on debt. People should learn to manage their own finances, whether it is credit card or cash transaction. If you ignore this, you are likely to end up in a disaster
Nanda
Abu Dhabi,UAE
Posted: June 04, 2008, 08:09

I do have a credit card (yeah just one!) but I seldom use it. Only to book tickets or hotels and thats it.In this age and time of Debit cards, why does 1 need credit cards for regular shopping. Like some of the readers above have said, credit cards are a nuisance if you are not good at managing.
Supriya
Dubai,UAE
Posted: June 04, 2008, 07:58

In today's world, I dont think I can live with out a credit card. I make all my bill payments over the internet, study online, recharge my telephone line through the website. so its pretty clear that plastic money is necessary especially to me. But this does not mean that I am perfect. I was once in very bad credit card debt and it took me years to clear it.I am in much better control now.
Umm Ahmad
Sharjah,UAE
Posted: June 04, 2008, 07:57

Till 2 years back I was very happy to not to have any credit Cards. But now I have two. It is impossible to maintain your budget with credit cards in hand. I Will be canceling one credit card soon after clearing dues and keeping another one only for emergencies (As no annual fee)
Kasim
Dubai,UAE
Posted: June 04, 2008, 07:32

I closed my last credit card in jan.2004. since then I am living on cash and it works very well.People must know that how much extra they are paying to banks every month like credit shield, interest etc.
Rakesh
dubai,UAE
Posted: June 04, 2008, 06:53

I do not have a credit card. Banks are going on canvasing. Its not good to be debted to anyone. Try to live without debts. Its good to use a debit card. Live on what you have. credit cards are the only way to book hotels, rent a car etc.. have to find a solution for that.
Zacharia C
Abu Dhabi,united arab emirates
Posted: June 04, 2008, 06:45

plastic money is good for emergencies only, once i withdrew an amount with my cc but after a year and a half i realised that almost the same amount was still due ,so it turnd out that i was paying the interest plus a little amount of my credit ,i made a cheque for the bank with the whole amount +upcoming interest and cut the ccs by scissors ,that was the end
sulieman
sharjah,UAE
Posted: June 04, 2008, 02:38

It certainly feels a lot better to pay for things in a manner where you could sleep soundly at night and not have a nightmare about the credit card shark! I say we get a credit card only for emergency utility. Otherwise the banks get richer and we, in turn, have burning holes in our pockets and a bank statement that states zero at the bottom.
Christian and Marnelli
Sharjah,UAE
Posted: June 04, 2008, 01:57

Credit Cards are the most horrible
Namreen
Abu Dhabi,UAE
Posted: June 04, 2008, 01:44

I live in Dubai since 3 yrs and do not own a single credit card or have any loans although my husband has kept one just for buying online tickets and emergencies. We are both very young and understand the power of temptations but it is a foreign country and we want to have very low or no liabilities at all. We budget our expenses and have fun with what we have be it more or less sometimes. Its always better to be safe than sorry! Isn't it?
Shraddha
Dubai,U.A.E.
Posted: June 04, 2008, 00:54

WE HAVE CREDIT CARD AND IN SAME BANK WE MAINTAIN SAVINGS ACCOUNT . WE HAVE EXACTLY DHS 3000 MORE THEN OUR CREDIT LIMIT IN OUR SAVING BANK AND WE HAVE GIVEN THEM AUTO DEBIT INSTRUCTIONS . SO WE THINK ITS SAFE TO USE THIS WAY . AT END OF DAY WE ALSO GET POINTS THAT WE CAN UTILISE FOR TRAVELS. WE ONLY HAVE TO BE VIGILANT OVER THE STATMENT OF ACCOUNT .
vijay
DUBAI,UAE
Posted: June 04, 2008, 00:50

Credit card is not good for those people who dont know how to use credit cards, I am working in sales officer for banking credit. My experience is that majority of people dont know how to use credit cards.
Muhammad
Abu dhabi,UAE
Posted: June 04, 2008, 00:33

Credit card does not have a direct control of expenses. It can confuse you at times,eg.you have 3-4 credit cards, you go on using them and if you are not good at keeping track of your expense limit or paying bills ontime then you may land up paying penalities.With cash money you surely know what you have spent and your balance for the month. You have a direct contorl on expenditure.Thank you.
Bharti
Abu Dhabi,UAE
Posted: June 02, 2008, 09:31

I used to work for a financial institution before so I kind of know the crazy stuff banks can charge people owning credit cards... (irrespective of whether you think you can manipulate the bank or not). Credit cards are completely prohibited in my family. My advice to people wondering whether or not to indulge themselves in the pleasures of plastic money.... DON'T!. You want that special something save and buy it.... you'll value it more plus there's one less bill to pay.....
Michelle
Dubai,UAE
Posted: June 02, 2008, 00:02

I have never used a credit card until recently I was compelled to get one to rent a car while travelling. Apart from that, I feel banks just want to lure people to over spend and then they expect high returns, horrible fees and useless points schemes and offers. I now have a credit card which I seldom use and I hope it stays that way.
Owais
Doha,Qatar
Posted: June 01, 2008, 17:35

I have been living in the UAE for the last six years and until now I haven't fallen into the credit card trap. It needs little will power to resist. I find immense pleasure in spending in cash.
Siddiqui
Fujairah,UAE
Posted: June 01, 2008, 17:24

Though I am the owner of two credit cards, I have never used them. You can say that I have credit card phobia. I find using cash more convenient and it is also easy for my monthly budgeting.
Sawmya
Abu Dhabi,UAE
Posted: June 01, 2008, 17:05

It is always a good idea to have a credit card for emergencies and unexpected bills.
Salman
Dubai,UAE
Posted: June 01, 2008, 16:51

Falling into debt traps is the last thing I would like to get into to satisfy my desires. I manage to buy what I need with the cash I have.
Sukanya
Dubai,UAE
Posted: June 01, 2008, 16:27

I once had very high debts and it took almost 10 years to clear them. I now only use credit cards for emergencies, and when required to do so for renting a car, reserving a hotel, plane ticket, etc.
Brad
Abu Dhabi,UAE
Posted: June 01, 2008, 16:22