Credit card companies are suckers!
By marisriel
@marisriel (1156)
Philippines
November 13, 2008 8:47pm CST
We had a mistake years ago of depending on credit cards and I definitely regret using it. If I had someone then who warned me against using it, I wished I had doubted using it. Now I had huge debt that I need to pay. It was on the years when me and my husband can't go anywhere to borrow money to pay for our rent and to put my kids on the hospital since they often have UTI. These credit companies add up interests on the amount I debt so I had to borrow again and again until I find myself in a quicksand. However, I still know that God will lead us on the right path since I am able to pay our debts little by little though not that fast. I think I will be the happiest person if I will be able to pay all our debts and then save finally for me and my family's future. I hope others will not experience what I have experienced and if I may be able to warn those new users or those who would want to try credit cards just for curiosity sake, please, if you are able to pay in cash, pay in cash. Or just leave within your means. Just do anything just to be able to live without debts. You will live peacefully if you do that.
1 person likes this
5 responses
@jesssp (2712)
• Canada
14 Nov 08
Credit card companies aren't the suckers as they're literally laughing all the way to the bank. They provide a service to people and if people choose to use the service then it's up to them, not the provider, to manage it properly and know the consequences. I use a credit card for ever single purchase I make and never pay a dime in interest because I am able to always pay the balance in full.
That being said I do see how people can get in over their heads, especially when no other credit is available. In a situation where you are paying off heavy credit card debt on more then one card it may be a good idea to see a credit specialist and find out about a consolidation loan. This may help being buried in interest.
But I think you hit the nail on the head - it's best to live within your means and do everything you can to avoid debt. You will definitely be much happier that way!
@marisriel (1156)
• Philippines
14 Nov 08
That is a good suggestion jessp especially if there is really something like that out here, someone who will really help you. But sometimes it's really hard to trust these days, they will say they will help you and give this money to pay your debt but in the end you are still on the quick sand and buried even more. However, I think it will be worth the try and I should be researching it more and ask first before I will trust them.
@jesssp (2712)
• Canada
14 Nov 08
You're right, it is very hard to find any company or agency that isn't just out to get your money. But it could definitely be worth doing a little research in your area too see if there are any non profit groups that have a credit specialist service.
And thanks very much for BR!
@kekexinfeng (1295)
• China
14 Nov 08
I haven't have a credit card,and I won't,because when I buy something with cash,I find my money is decrese,then I will save,and I can make a plan to use money at the point,but if I use a credit card,when I buy something,I find my cash is still there,and as I don't spent the money,then I will buy more usefull things that I can't afort.So I don't like credit card.
Tough I haven't used it,but when I watch my friend in debt,I think I am lucky without credit card.
@marisriel (1156)
• Philippines
14 Nov 08
You are right about that keke. Credit cards do sometimes look good to have in the wallet but they are temptations that are very hard to resist. As for me, when I still I haven't had them, I thought it was a very good thing to have but I was very wrong and regretted it.
@makingpots (11915)
• United States
14 Nov 08
Yes, marisriel, credit card companies are suckers and they know their business very well. You are doing a good service here trying to help out others who might fall in the same trap you did. It is a trap that is so enticing and easy to stumble into.
I am married to a man who is so adamently opposed to credit that he has always kept us sqarely on the right path with that. Much to my chagrin at times, but we have lived peacefully as you say.
@Shar1979 (2722)
• United States
14 Nov 08
I know what you mean. I got so hooked with online shopping using credit card. Before I knew it, I am stuck in large amount of payment. It's good that I had a great husband who paid for it. Now I learned my lesson. Hope you pay your credit card debts.
@Yori88 (1465)
• Philippines
14 Nov 08
I definitely agree with what marisriel said. Credit card companies are really suckers but the best lesson in all credit card users is to know how to manage credit card usage well. I don't have a credit card and swear to God not to have one. I didn't even think of the idea of getting one nor trying to borrow one. I'd better us debit card like atms, because you know that you've worked hard for that money your spending. Thus, you will spend it wisely. Unlike in credit cards, the temptation is very strong and you even need to pay big interests. Anyway, it's up to those people out there who still believe that credit card helps. For me, why don't you just pay in cash if you have cash or just use debit card? The only advantage of credit card is that you can have what you want in advance (without paying for it in an instant) or you can use it during emergencies. But why don't you just borrow to relatives and friends? And it's not really helping you when worries on how to pay debts starts and you can't even concentrate in your job because of what you need to pay. So just focus on getting things on their exact price! Right?
