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Message: <blockquote data-quote="$pirate" data-source="post: 7135404" data-attributes="member: 261790">My Dear Zan, I'll make one thing clear before anything, there is no Good in any credit card. A CC can only plunge your life into debt trap for a long time in your good life. First of all try to understand the basic requirement of getting your self a CC. Is it for your daily expenses or is it for your long desired expenses or maybe it's for those unforeseen emergencies...what ever the requirement always remember "IS IT WORTH IT"? Maybe if your choice is the last option, well that's a wise thought, but then again, isn't it better you take a life insurance than a CC.A CC will have so many charges/payments tagged along with it to add extra burden, plus to make it more attractive your host bank will throw you extended credit lines.All this will tie you up in higher debt. A small point to make it clear;Average CC monthly interest in the local market = 3 - 5% (per month)Therefore, your annual interest rate                 = 36 - 60% Average Personal Loan interest rate in local banks = 19 - 24% (This is per Annum/year)So you do the math & understand what's better. Added reading - <a href="http://moneyfor20s.about.com/od/creditcards/tp/needacreditcard.htm" target="_blank">http://moneyfor20s.about.com/od/creditcards/tp/needacreditcard.htm</a>Best of Luck!!</blockquote>

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