and hate their credit card. Is it realy for you? Do you are stopping to use the credit card? Why? In Brazil everyone use everytime! Please comment this!
If someone to want, correct this text for me. Thank you!!
2007-10-01 15:05:26 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Perhaps people in Brazil still remember when Inflation eat away their debt (and savings) faster than they could spend it ....
Whilst that may well be a thing of the past (Inflation target is now 4.5% per year), Inflation was running at 20% only 4 years ago ...
Past Inflation has been truly astronomical = in each of 1967, 1986 and 1993 the currency was devalued by 1000:1 (see link) ... in 40 years a billionaire would have been reduced to a pauper ...
So it's perhaps not surprising that most people still have a 'spend it before it's gone' approach to life ..
2007-10-01 19:40:55 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
In 2005 in America, our federal politicians (congress) enacted a law that allows credit card companies to charge whatever they want in interest, AND they mandated a new minimum monthly payment percentage.
As many Americans were carrying tons of credit card debt, they have seen their monthly payments go from small to huge and most cannot afford to use their cards anymore.
The media here is blaming the "subprime" mortgage mess for the tanking of the economy, but they are soooo wrong. Our economy has been growing because of credit cards for years, and now thanks to Congress, that has stopped.
Coming soon to another American job, unemployment.
2007-10-01 15:21:47 · answer #2 · answered by Gem 7 · 1⤊ 0⤋
Credit cards can be your best friend or your worst enemy.
As a friend they will give you cash or perks back for the money you spend but you must pay the balance every month.
As an enemy, if you don't pay the balance each month any rewards you've received will be eaten up immediately with the high interest rates. Also, if you only pay the minimum due it will take forever to pay the balance down.
2007-10-01 15:12:04 · answer #3 · answered by Nvr2soon 6 · 1⤊ 1⤋
If you have money, credit cards are useless. If you don't, they are useless and dangerous. The only real good point of credit cards is when you're buying stuff abroad, online or not.
2007-10-03 09:01:02 · answer #4 · answered by Alvaro Augusto 4 · 1⤊ 0⤋
I stopped using credit cards.........I got a debit card for my checkbook and that is the only way I pay now....... NO more credit cards..........they just make you buy things you dont really need..... If you cant afford to pay cash for it........ you dont need it............. I kept one card for emergencies..... such as a car breakdown on vacation... or medical emergency .. and I dont use it at all ...
2007-10-01 15:20:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Some people are better of with out them . I use mine wisely and i love it. So many people still use then not much as they use to because all the bills they can't pay.
2007-10-01 17:44:42 · answer #6 · answered by Anonymous · 1⤊ 0⤋
credit card is very helpful but when teh bill comes its big problem!
2007-10-01 16:00:38 · answer #7 · answered by iloveitingreece 2 · 0⤊ 0⤋