credit cards are evil!!!!!!!!!!?

Question

i think credit cards are such a bad idea!
i got my first credit card at 19 and was given a huge credit limit!!
of course i got my self in so much debt that i had to then take out a loan to pay it off
do u think credit card companies offer them to easily and prey on young people by offering cards in different colours and with different picture

Answer 1

Yes, unfortunately credit card companies make all their money out of people exactly like you who can't control their spending and keep it within their means. And the card companies will fight each other for your custom, and your money.

But, I don't think the credit cards themselves are evil. To re-phrase a well known saying "Credit cards don't run up debt, people do (people with credit cards)."

Answer 2

People who complain about credit cards are the ones who seem unable to control there spending, or spend what they know they cant repay. If you use a little common sense you can get the credit card companies to pay your debts for you, how you may ask . simple say I. If you can get say 10 credit cards which is easy these days. proceed thus. You spend money on credit card 1 in the first month. bill arrives pay with credit card 2. keep what payment was due on 1 in bank gaining interest not paying interest. month 2 bill due to credit card 2 pay with credit card 3 keep money in bank gaining interest get the drift after 10th card used you should have enough saved money in bank to pay card 10 if not use card 1 to pay off excess. Now remember you have been using credit cards for 11 months and not paid any credit card company a single penny in interest. and by now you should have 12 or more cards because credit company's keep an eye on the way you pay your bills, and of course they see you always pay them in the same week you get your bill then they up you credit limit. go on have a go I know your gaging to.

Answer 3

All Credit Card companies care about is earning money. They will do anything and everything to get people to sign up!
The girl next door to me is a single Mum of three kids, on benefits and she got a Credit card with £1000 limit and her interest rate was 144%!
These companies know that if they give card to young people (such as yourself) they will blow the limit and have a lifetime of debt in the interest alone!

Answer 4

I think it is upto the individual, I've had a credit card since I was 18 as I got mugged and so don't beleive in carrying cash after that! I always pay the bill off in full every month and despite the fact my credit limit was £4k I only ever used it for things I could afford.

In short, you need to be sensible with them and if people cant be that is hardly the cc company's fault.

Answer 5

Yes they sure do. I am amazed at the young people I see with the debt that they owe as such a young age. They are ruined. All for the ability to buy a big screen TV and other material goods.

Answer 6

i sooooooo agree i mean why give someone earning little over minimum wage a credit card with such high limit if i bothered to get one i would only use it for emergencies like the car breaking down and such!! but i dont want one as im not sure i would be able to distinguish a shoe emergency from a car emergency then i expect i would get myself in **** because i couldnt pay the bill so whats the point!!! burn them all !!!!!!!!!

Answer 7

They are a lure to debt - they get folk in the habit of being indebted. Then the Bank will ask you to roll up these as a consolidation loan and 'a little extra, sir' ... etc etc.

The fees and charges can quickly mount up - so always look at such lending as a short term solution.

Answer 8

No. Credit cards are not evil. But stupid people think that they can spend money they haven't got without thinking how they can repay it.

At 19, you were legally an adult, and entitled to be treated as such. That carries responsibilities as well.

Answer 9

i think the schools need to teach more on the importance of credit , you can't blame a company for trying to make money. As a 19 year old kid you probably had no idea the impact of maxing out your card would have on your future

Answer 10

The cards are not so bad, but the laws (or lack of) regulating them are f'd up. Why would any company not market itself to it's highest profit-margin customers? That is only smart business. My ex was unable to control themselves with credit card spending and it cost me dearly, so I to have been a "victim"...........of poor choices (both marriage and spending habits) not a victim of CC companies. Take responsibility for your actions and stop blaming others for your poor choices.