Is owning a Visa Credit Card good or evil?
Many people will say, "Tie your credit cards to a big rock and toss them in the ocean" (Make sure to cancel them first. You know how the fish love to spend).
But you know what. You need a Visa Credit Card to establish a line of credit. If you ever apply for a loan, the lender will be looking for a good record of payment. Make sure you pay off your balance every month, and if you have a balance, pay it off as soon as you can. This will show you are responsible, and if you are a responsible person, you need not fear the "evil" credit card.
Besides establishing a line of credit, what other reasons should you have a Visa Credit Card for? First of all, credit cards can come in handy for big purchases where you don't have the money right now, but will have it when you get your next pay check.
Secondly, you definitely need a credit card for booking reservations and making purchases online.
If you don't have money in your checking or savings account, your debit card won't help you. So in case of emergencies, you'll need a credit card.
And yes parents, kids should have one in your name for emergency purposes only. When they are old enough to get one on their own encourage them to do so as soon as possible. You can never begin building a line of credit too early.
