NJ5 on 02 February 2010
I second what nordlead said.
IF you don't pay the balance in full every month, the bank owns your ass from then on. They can jack up interest rates as they please, charge you fees if you don't accept the interest rates, etc.
However there's nothing wrong with credit cards provided you pay the balance each month. Then you're not spending any money on interest, as most credit cards give you 30-45 days interest free, sometimes more.
In this sense, a credit card is not too different from a debit card, as you're spending money that you already have (or will have very soon). However, a credit card adds several advantages (easier to dispute charges, bonuses etc).
My Mario Kart Wii friend code: 2707-1866-0957
