evrythign i read on here about credit cards is always somethign negative. im not saying its the best thign in the world but i think that peopel hate them because they dont know how to control them. peopel say youll fall in debt. others say they are evil. othere say there not worth it.they are good if u can control your spending habits...thoughts? thanks
2007-02-20 14:58:07 · 11 answers · asked by justsomeone 1 in Business & Finance ➔ Credit
I think that people hate credit cards because everyone knows someone that has suffered a great deal because of credit card debt.
I dont think that they mean to sound negative but they would like to warn you to help you to avoid the negative traps that others have fallen into.
Read on here about how people are going to credit card management services and getting screwed again in an effort to restore credit that they ruined by using a credit card!
Ultimately the choice is obviously up to the individual but I am thankful personally that people take the time to discuss credit and give personal stories regarding same.
Those that heed the warnings wont be on here crying about bill collectors and 36% interest rates on credit cards and buy here pay here cars.
If YOU knew about a bridge that was out on the road that I was about to travel, I would feel that you owe it to me to at least TELL Me about it...I can go down that path or not but I would rather drive down that road making an INFORMED decision.
IF I went down that road and my car went off the bridge and into the river, would you then go back to town and say nothing to the next driver appproaching or would you warn them.
This is all that they are trying to do
I think you are looking at it all wrong but whatever....just listen and take whatever information you feel worthy
2007-02-20 15:45:09 · answer #1 · answered by kissmymiddlefinger 5 · 0⤊ 0⤋
It's not that the cards are evil, but credit card companies *are* corporations out to get your money. Credit cards aren't intended to help you or be useful, the intention is for you to fall into debt and pay insane amounts of interest. And many people fall into the trap, understandably.
I think if you're a really disciplined person and good with money and bills, you can handle a credit card. But judging by the number of people who accumulate debt, most people can't. There's a problem when someone expresses the thought, "oh, it's only $20,000".
I don't know -- I'm not that comfortable with the fact that money is so disconnected from us, it's all numbers made up in a computer.
Anyway, that's my take. Credit cards are just the instrument of evil. It's corporations that are ill-intentioned. And people are tools.
2007-02-20 15:11:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are two reasons:
(1) If one is late even once on a credit card payment, the interest rate skyrockets to over 30% - which is the default rate. The default rate would also apply to other credit card accounts even if the person was in good standing with the other cards.
(2) The bankruptcy laws made it more difficult but not impossible to write off large amounts of credit card debt.
Credit card companies are aware of both reasons; so, they support pre-paid credit cards where the issuer collects a monthly fee and a person simply has to add money via direct deposit, telephone, etc. With a pre-paid card, if the balance hits $0 - the account is suspended until more money is added. Secured credit cards are also popular because the credit limit is linked to a savings account balance. No savings account, no credit.
2007-02-20 16:06:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Credit cards are great *if* you are a disciplined person. If you are undisciplined and carry a balance or pay late, you'll get hit with pretty big fees and interest (very few cards have reasonable interest rates or fees). I always pay one day early just in case there are any delays in the electronic funds transfer (I've heard of such stories from others).
The best way to use a credit card is to pay off the balance every month and, assuming you've got a rewards card, reap the rewards!
To find the card that will pay *you* the most rewards (cash back, etc.) for your normal spending profile, check out the rewards calculator at http://www.creditcardtuneup.com/ .
2007-02-22 12:41:46 · answer #4 · answered by moviegoer_j 3 · 0⤊ 0⤋
decrease up your mastercard. in case you in effortless words owe $500, it should not be a large deal to pay it off. tell them you'll deliver them $20 a month until eventually it really is paid off. remove the cellular telephone. call your cellular telephone provider and exercising consultation a cost plan that you'll locate the money for. do not rack up extra telephone expenses. Pay down what you've were given. i'm no longer positive what $1100 price you've? is this on your residing house? if so and also you could't pay it, call your lender and a minimum of search for suggestion from from them. i do not comprehend how a lot they could help you yet you should a minimum of try. locate earnings by some means, some way. Babysitting, cleansing homes, pass to a temp employer. you need to be gathering unemployment. See if there are any authorities amenities that you'll obtain. (foodstuff stamps, emergency thoughts.) provide up spending money that you do not have. Sorry notwithstanding it really is the reality. it really is not any longer ordinary and it sucks yet you should do it. Is a clean merchandise truly honestly worth the strain you're feeling at present? No. it really is not any longer.
2016-12-04 10:57:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Because they lack self control and know that if they got a credit card they wouldn't be able to control their spending and would have a load of debt.
2007-02-20 15:06:12 · answer #6 · answered by sohazii 2 · 0⤊ 0⤋
i feel like i wouldn't be able to trust myself with one, that's why i have yet to get one (i'm 22). i overdraw on my debit card enough, so i can only imagine what it would be like if i had a credit card. i know there are people out there who can control their habits and pay the card off every month but the majority of people out there don't realize that not paying the card off every month just digs them deeper and deeper into debt.
2007-02-20 15:09:04 · answer #7 · answered by Meg 4 · 0⤊ 0⤋
Personally, I only hate credit cards because I can't get one!!! Once I actually get some then I will love them (and pay them every month faithfully.)
2007-02-20 16:21:51 · answer #8 · answered by ♥ Mary ♥ 4 · 0⤊ 0⤋
like everything in life, one needs a balance, use credit when u need to, cash when u need to, checks, debit, billpay, etc... all when u need to and in moderation.
But I think for people like me, i hate the interest rate because it is unjust and no need to charge 16%+ when banks rake in millions and millions of profits every year.
2007-02-20 15:13:09 · answer #9 · answered by sam_i_am_eggs_something_somethin 2 · 1⤊ 0⤋
I used mine for shopping because it is cheaper than using eftpos. I think they are great in that regard. Thats about all.
2007-02-20 15:09:18 · answer #10 · answered by kicking_back 5 · 0⤊ 0⤋