In light of your own experiences and recent Congressional hearings.
2007-03-11 07:52:19 · 4 answers · asked by ALASPADA 6 in Business & Finance ➔ Corporations
Credit card companies are not for me. I don't believe in paying interest on anything. And in light of the Congressional Hearing, it just proves that I am on the right path. I don't have any credit cards, my checking is interest free and I if I needed a loan for something I would get a non-interest loan.
Many people should live this way.
When credit card companies charge interest they are stealing, they didn't earn that money, I did.
2007-03-16 02:41:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Great money maker for the businesses but bad for most consumers. Credit/Debit is the most convienent way for people to pay for things however all of it comes at a cost either to the consumer (interest rates), the seller (for each sale - a percent of that sale goes to the credit card company - i.e. if American Express charges the seller a fee of 2.5% - then on a $100 sale - AMEX gets $2.50 of it as a fee) or both (as in the seller gets dinged and the customer gets dinged for fees). The best way around this is to pay cash or use debit - but then you can get charged a transaction fee ($0.25 or 0.50 per transaction - so on a $3.00 purchase - you pay $3.25 or $3.50 out of your account). Interest rates are extremely high but companies get away with it because there are no limits and people continue to use credit cards and pay the interest. Basically it comes down to companies making money off of our own laziness, stupidity and greed.
2007-03-11 08:00:29 · answer #2 · answered by bigej65 3 · 0⤊ 0⤋
Actually i love my credit cars,,,,i make money from them. i charge everything then pay off the balance at the end of the month, I recieve reward points that i trade in for gift certificates to stores. Just remember to only charge things that you would normaly pay cash for,,,(gas,food, etc.) u know, the normal things you spend in the month,,and never charge what you can't pay the balance off at the end of the month..it works for me,,,,i actually MAKE money that way, not the other way around,,, i : ))) all the way to the bank.heheh
2007-03-17 22:59:56 · answer #3 · answered by igottadrive2001 5 · 1⤊ 0⤋
robbers without guns will smile at you and cut your throat
2007-03-11 21:04:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋