Watch out for the fees charged by credit cards. If you are late, you will be a hefty fee. If you go over your limit, the same is true. Some cards also have annual fees and other fees simply for using the cards.

The ones with annual fees are more for people with bad credit, to give them a chance. I have 2 cards with an annual fee, its worth it for building up credit.

This is another reason for paying off your balance each month. You can avoid interest or late fees. I don't mind annual fees, however, my American Express charges one, and it's not too significant.

One of mine is $40/year, the other is $6/month with a huge apr, I would get different cards but I want to keep them until I get a house because they have aging well.

Wow..I didn’t know you get charged for going over. That’s awful. I heard that banks are raking in the dough on service fees.

Yes, Credit Cards take advantage of the people that charge to much and can't pay it on time, by charging huge late and overage fees. It is quite sad that they are luring people in with the huge maximum charges. Then the people rack up a huge amount of debt and find out that they are beeing charged a ton of late and junk fees.

Well unfortunately many of us learn the hard way, we think its free money when we have a credit card.

I know exactly what you mean. Using cash i feel is better since your actually 'giving' your hard earned cash away so that helps me be more responsible

I use cards with various bonus features but I use them as charge rather than credit cards.

If you know yourself and believe you won't abuse them, credit cards can be a boon, though; you can boost your credit and save money on future loans, for example, or receive rewards.

They can also be handy as many places give extra discounts if you use their store credit card as opposed to another card or even cash.

Banks are very sneaky. I once ínformed Barclays that I would be using my credit card to buy something expensive so that they wouldn't start suspecting anything strange (I have had my card cancelled before because they thought it was being used illegally). My bill was delayed until I bought the item so that they could charge me as soon as possible.

Ya, I like cards with bonus features as well. I just use them so I can get the points. They have some pretty good stuff