Disadvantages of not having a credit card : is there any ?

People having credit card tend to spend more

you wont get any offers like 10% off and discount on daily groceries in bigbasket etc.

My advice for new credit card holders  is to use it like debit card. spend and instantly transfer money from account to credit card. so if you dont have money you cant buy the item ....simple

Disadvantage ka pata nahi but advantage is like

Peace of Mind

If you are looking to buy any property on loan in future then good CIBIL rating is a must which happens on taking small loans or credit cards and obviously timely payment is important.

Yes because when i bought realme 3 pro that time in first sale there was a discount offer of 1K i missed and then when iPhone has huge discount in 2021 i also Missed it becoz of not having any credit card 

arko1983650 wrote:

you wont get any offers like 10% off and discount on daily groceries in bigbasket etc.

My advice for new credit card holders  is to use it like debit card. spend and instantly transfer money from account to credit card. so if you dont have money you cant buy the item ....simple

I do the same

GreyHenna wrote:

People having credit card tend to spend more

It is a Myth

Jab paise nahh ho , aur Gpay accept nah kare dukaan wla , tab agar  cc ho toh, use kar skte uss time.

You won't get the kick and rush of Savings, for those who don't have a CC yet, get one and feel the impulse

You miss all the discounts.

If you are earning then only use credit card.

I see nowadays many students using it and falling in trap.

Security is what I use them for. Rewards are just a cherry on top.

HDFC is my expenses account. So once I transfer my monthly budget to HDFC, that is what'll be used to pay off my only CC bills (hdfc) & the remaining will be used for UPI. Keeps me in control. 

A few advantages I can think of are below

•  It not your money you are spending, so if there is a fraud, it's easier to get a chargeback/investigation done because it's the banks money, and they will fight tooth and nail to find it. In case of a debit card, your money is stuck and you do the fighting.
• If you haven't taken any other loans, it gets you a credit rating and as long as you manage it properly, it makes it easier for you to get loans in the future.
• There's a lot of rewards in terms of experiences or perks that you might or might not want depending on your lifestyle, but they are often not available without them, or even on debit cards.

DimeEarner wrote:

Yes because when i bought realme 3 pro that time in first sale there was a discount offer of 1K i missed and then when iPhone has huge discount in 2021 i also Missed it becoz of not having any credit card 

Are you still using realme 3 pro?

It depends on what service you use. If you have a WestStein card open, then there should definitely be no problems. I myself have been using their services for some time and have only been able to notice the advantages. And besides, there were no problems with opening such a card, everything was simple and fast.

I feel it's all about usage. If you use it responsibly, it saves lots of money, ease of use, offers etc.

But in wrong hands , it can put in debt trap.

I have been using credit cards since 15 years and no issues so far.

Yes, biggest disadvantage of not having a credit card is just that you don't possess a credit card. That's it for me.

Rest, everyone has a point of view.

IMO not a major disadvantage but one can't get interest free loan and may find it slightly difficult to manage a cash crunch in contingency.Again,that doesn't mean everyone should necessarily have a CC to deal with such situations.It's all about financial discipline.Falling into a CC debt trap is synonymous to inviting a disaster.Alll the pros and cons need to be weighed up before getting one.

megankliry47 wrote:

It depends on what service you use. If you have a WestStein card open, then there should definitely be no problems. I myself have been using their services for some time and have only been able to notice the advantages. And besides, there were no problems with opening such a card, everything was simple and fast.

ye konsa card h

Sam0001 wrote:

Are you still using realme 3 pro?

No brother 😂

Charge back and No loss in fraud.

Lesser buyers remorse esp. during sales.

If you buy something for a good deal at X, there will be a friend or work colleague who'd say I bought this for X-10 through SomeBank card during Diwali sale. Then you don't feel that great about the purchase.

GreyHenna wrote:

People having credit card tend to spend more

That's like saying "People having cars tend to consume more fuel"

Golden rule of statistics - Correlation is not causation.

Just because you have a credit card does not mean you are going to spend more compared to you not having one.

Generally, people who have money to spend will try to find ways to maximize the value of their spends. Credit cards offer excellent value. Thus, such people get credit cards and spend money using those cards.

People who do not have money to spend will neither try to get a credit card and even if they try they are likely to be denied.

I understand your meaning though - that certain people with poor impulse control / economic sense get credit cards and spend more than they can really afford.

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