Credit cards are one of the most popular forms of payment today.

In class we discussed the use of credit card, whether or not shoppers feel that they need to have or multiple credit cards.

Students created a table brainstorming advantages and disadvantages of having a credit card.


Technique: Questions for brainstorming and Listing ideas


Why do people have credit card?



Advantages of having a credit card Disadvantages of having a credit card
It is an emergency savings funds.

Prevents people from stressing about having cash money or not;

Allows people to buy more than their actual income;

Facilitates expenses’ review buy using the online account in comparison to using cash where you would have to write down all expenses;

If you cannot afford to buy something

,you can buy on credit and pay every month.

It is a way to increase your credit.

It helps you not to lose the money (for ex. Fall from your pockets)

It helps to buy a lot of things online

It allows to pay monthly bills online from home(save time).

_ When you don’t have cash you can buy on your credit card that can be very helpful.

_ you can use your credit card to buy something and pay little by little.

_ the credit card helps to get a good credit

It is easy  to carry from one place to the other

If you desire unlimited shopping you can buy what you want.

Learning more about finance.

You can use credit card in every country  with different currency

If you lose your credit card your bank can  replace your card easily

You can get into debt easily.

It can lead to an obsession about buying things with no fear of accumulation of debts;

Hackers can trace the credit card’s information and easily take advantage of it;

You have to pay extra fee for the spent money.

Can cause financial issues.

You can turn into a shopaholic .

Trigger  addiction to use it.

If you lose it, anyone can use it

If you do not pay  on time, you will pay interest.

You can use it more than your budget limit.

Your information can be copied

It charges high interest.

_ when you don’t pay on time they` are going to charge you

_ Someone else can use it to buy a lot of things and give you big problems with your credit

_ When you have bad credit you can’t never use it to buy anything


I asked students One of the biggest finance problems most people have is debts in credit cards. As the use of it goes viral without full payment, owners of credit cards see themselves in a money “snowball”.

Please read the fantastic job students did in class.

Sample 1

Advantages of having credit card   

Nowadays, having a credit card is very common. The number of people who have an affinity card can vary from one country to another. Here in the USA, most of people have a plastic money. According to credit card ownership statistics, about 7 in 10 Americans adults possess at least one charge card. In my opinion, there are three main advantages of having a credit card. First of all, charge card prevents people from stressing about having hard cash or not. For instance, I remember one time I did not realize early in the day that it was my best friend’s birthday. When it came to my mind I was at a shopping center. With peace in mind and no stress about cash, I went to a gifts store and bought a present for her.  The quality of being replaceable in case of loss or theft is another advantage of having a plastic card. When people lose cash no one is committed to give the money back. However, losing plastic credits require the action of the issuing company which is beholden to their clients. Last, credit card facilitates systematic expenses review. Gold card companies offer online services that allow people to follow their expenses. With cash it would be very time consuming and would require a lot of memory effort and good organization skills  to write down all expenses each time. To sum up, putting an end to stress relating to whether having cash money or not, being regainable and enabling easy expenses follow-up are three major advantages of owning a plastic money.

Sample 2

Credit cards save the day!

In these modern days credit cards can make your life easier. There are three advantages of having a credit card. The first benefit of owning a plastic is that it is an emergency saving funds. Credit cards  can save you from monetary troubles at the moment that you do not have cash. For example, when people face an unexpected situation such as, medical charges, a sudden rise of the rent, an emergency travel or a delay in your work payment; that  plastic money is the hero of the day. Another convenient aspect of credit cards is that they allow you to pay monthly bills from home. It is absolutely annoying and a waste of time when I have to drive every month to a store or a company to pay a bill. Instead, I can do it from my comfortable sofa with a simple charge plate. As a result, I save gas and time. The third advantage of having a bank card is that it helps to increase your credit score. In the USA, where the credit it is more important than the money, credit cards are a good way to start your credit. After a few years using  the card your credit would be increased. For instance, when you  decide to buy a car, your credit file facilitates the deal and a mortgage for a house. All in all, credit cards can be an important tool in your life. They give you an emergency line of credit, simplify regular payments and can build your credit rating.

Sample 3

Disadvantages of to having credit card

According to the US Census Bureau, there are 181 million credit cardholders in United States. It is growing every year. A credit card is useful for emergencies. However, there are three disadvantage of having a credit card. One disadvantage is not to have credit card can cause financial issue as you can use it more than your budget limit for instance some one has law salary ,he use a lot of his credit card .therefore, he can be deficit his budget. in addition disadvantages is not have credit card .if you do not pay on time, you will pay interest. For example I  bought on a flat screen TV, the price was $ 500 if I do not pay all amount the money, they charge me high interest. Also you lose it, anyone can use it. Finally,  a disadvantage for possessing a plastic card is trigger addiction. For example, many people use it because they cannot control the craving for shopping. To sum up, credit card may be reachable and useful but effect to financial problem my recommendation is not to have credit card if you need it badly, you use it wisely and carefully.

Sample 4

Why I don’t like to have a credit card.

Nowadays a  lot of people in the world have credit card and use it. However, there are three reasons that I don’t like a credit card. First of all, if you have a credit card you can buy with card more than your budget limit. For instance, if you don’t have a high budget to buy an expensive item like a nice leather best brand handbag, having a credit card encourages you to buy that handbag. Now your problem has started. You have to pay for that item with a lot of problems. The second reason that I don’t like a credit card is a continuation of the first reason. If you can not pay even monthly payment in your credit balance your monthly interest charges become higher than your payment. At last you can not pay total balance and now you are in a big trouble. Finally when you have a bad credit you  can not never use it to buy anything. For example you can’t buy on line. To sum up credit card may be seem useful at first for everyone but at the end it’s a big big finance problem.

Sample 5

Disadvantages of a credit card

A credit can be very helpful sometimes, and can make the life very easy. However, it can also be a disaster because of so many disadvantages. First of all, you can use it more than your budget limit. In fact, when you have it and you see a lot of beautiful things you can have obsession to buy them. When you buy without thinking even things you do not need, you end up spending a lot more than you make in a month. You will get big trouble because you’ll never pay on time. A second disadvantage is the interest. I know a person who payed $ 300 for a thing that he bought $ 100. He told me that he was always late because he did not have enough money to pay, so many bills that he had. Now we sure he is going to become a shopaholic. A third disadvantage is when another person use it as your name. All your information can be copied, resulting in problems with your credit. All in all, consider these three disadvantages  before you use a credit card.

Sample 6

Do you really need a credit card?

When you are getting started as an independent adult, it is important to establish a good credit, in order to make big purchases in the future, such as a home. One way to do so is by opening a credit card. Nowadays bank cards are really popular, and most of the people are adapting to use them. However, its use can also bring some disadvantages and serious problems if you do not use them correctly. First of all, if you lose a charge card, someone else can use it for you without your knowledge. When you use your charge card for small purchases, it is very common that the seller never ask for an ID, thus, the person who found it, could be buying small things, no expensive ones, but at the end the result of all of these small purchases will bring a large amount of stolen money. Another reason is that a “plastic” card encourages impulse buying. This is excellent for the commercial industries, but not for you. Swiping a “plastic” card is easier that open a wallet and take the money out, as a result you will lose the knowledge of your actions, and that sense of guilt and regret that we feel when give someone else our “paper” money. The last reason is the lack of knowledge about how to use a credit card. When you do not have experience with a credit card, you can assume that using it, is easy, but it is not. Thankfully, there is a lot of information on internet which can help you to learn how to use it wisely. When you understand how a machine card works, you are ready to get one and use it responsibly. Credit cards could be useful, but as you can see they can bring you serious problems if you do not pay attention to the disadvantages described above. Keep them in mind and make the right decision for your particular case.

Sample 6

  Disadvantages to have a credit card

Having a credit card nowadays is a normal thing for every single person. It is very comfortable to use it. However, there are many disadvantages of having a credit card and I want to emphasize three of them. First of all, it may be difficult to  calculate how much you are spending. You go to do some shopping and you just swipe it without notice the total of money you spend. A second reason is the high interest rates and increase the debts. Credit card companies charge you a huge amount of interest on each balance that you can’t pay off at the end of the month. And the last one is that you can easily be fool from your credit card companies. They encourage you to spend money that you don’t have. Most credit cards do not require you to pay off your balance each month, the more money you spend , the biggest debt you will have by passing time. These are the reasons that can push you to think if is really necessary to have a credit card or not.

Sample 7