Pros and Cons of Getting a Credit Card

Pros:
Safety Net-credit cards are a safety net for when you don't quite have the money to buy something that you really need to buy. Perhaps your gas gauge is on E, but you don't get paid for another two days and you still need to make it back and forth to work.
Convenience-Credit cards can be extremely convenient. If you see a sale on something that you really want, but don't quite have the cash in hand, a credit card can be your savior. You kow that item will more than likely be gone by the time you actually have the cash. Credit cards are a great, buy now, pay later option.
Rewards-Many credit cards do offer rewards such as so much cash back depending on how much you spend in a certain amount of time. Many credit cards also offer "miles" for money off of airline tickets, hotel rooms, and rental cars when traveling.
Building Credit-This is probably the biggest pro of getting a credit car. Many people suffer from either poor credit or no credit. Maybe its because you never paid those hospital bills, or maybe you just haven't done anything to create credit at all. Credit cards are great for building credit, if you do it right.
Big Purchases-Credit cards allow you to make big purchases. They allow you to buy things that you generally wouldn't be able to unless you could make payments, like that 52" 3D TV that just doesn't ever seem to fit into the budget.


Cons:
Late Payments-Late payments are one of the major downfalls of credit cards. Once you make one payment late, it can be easy to fall into the never ending abyss. Suddenly your credit card turns your worst enemy.Late fees, interest, and penalties will add up quicker than you realize. The longer you don't pay, the bigger each of those numbers get.
Debt-As stated above, credit cards can get you into a lot of debt if you don't do it right. There are always "minimum payments," but in the long run you will end up paying more. If you fall behind on your credit card, you can be driving off the edge into a world of debt.
Hidden Fees- Credit card companies will do anything to get you to sign up with them so that they can get your money. They make their credit card seem like this amazing deal. Once that ink dries, they suddenly remember that there is an annual fee for owning and using the credit card as well as start up fees and processing fees.
Over Spending-It's very easy to overspend with a credit card because you don't see that money coming directly out of your bank account. Spend $10 on gas, then $20 on groceries, then $15 on that shirt you just had to have. Then, when you're credit card bill comes in the mail, It turns out you spent $300 this month just picking up things you needed or wanted here and there.
Interest-Interests rates will come to bite you in the ass. Credit card companies will reel you in this time of year by saying "No APR until September 2013," and because we're still in 2012, 2013 seems to very far away. It's a trick. Don't fall for their scams. Always make sure to check for the lowest interest rate when applying for a credit card.
Minimum Payment Trap-These are not actually set to help you pay off your credit card.When you only make the minimum payment, your balance will raise more and more each month even if you don't charge anything because the amount that you haven't paid off yet is helping the credit card company charge you even more for interest.
Destroying Your Credit-I think, with everything I've stated above, you can clearly see that there are many ways that credit cards can destroy your credit. So, I don't believe I need explain myself any further on this one.


Tips:
Fuel-If you're looking into getting a credit card, maybe the best idea would be to set a specific use for it, like getting gas. If you use your credit card just for fuel, It can mean having the little extra money to have during the week to get food for dinner or paying the electrical bill on time.
Pay Off the Full Balance- As stated earlier, pay off your full  balance when the credit card bill comes in if at all possible. This can save you from paying a lot of money in interest.
Choose Wisely-Don't sign up for the first credit card you get a ad for in the mail or the one with the flashiest website. Do your research. See how much the interest rate is, check out annual fees. Don't slack when it comes to finding the right credit card, because credit can be easy to plummet and hard to build back up.
Keep Track of Your Purchases-If you keep track of your purchases with your credit card, you are far less likely to receive that bill of $300 when you were only expecting, maybe $70. This will also help you spend less when you realize how much you've already charged this month.
One is Enough-Don't sign up for multiple credit cards. This is just a bad idea. With more credit cards, you feel as though you have money. With credit cards, you don't actually have "more money," you just have the option to buy now and pay later. Don't take this as "buy now, pay never" or you may never be able to get a house, car, loan, or anything else that checks credit before considering you as a customer or rentee.


If your considering a credit card, you're probably already Living On Your Own, but this may be a good message to give to your younger friends and family. Just click here for said message.