Do you agree that Credit car is like a debt trap?
By ssh123
@ssh123 (31071)
India
May 26, 2007 5:02am CST
Easy enough to get into, hard enough to get out. Ultimately the borrower ends up paying interest, compound interest and penal interest. What is your opinion.
3 responses
@rladiga00 (1165)
• India
29 May 07
I do have a card but I never used it. My husband is very notorius in using the card and making purchaes and often I see him in some trouble repaying the card amount.
1 person likes this
@mimpi1911 (25464)
• India
26 May 07
hi!!
i used to own 3 credit cards and guess what, every month i used to end up buying far more than my budget!! obviously, paying time was tough. i am a spendthrift and a compulsive buyer and for someone like me, i think, its not agood idea to keep credit cards.
as of now, i have no credit cards, i only carry debit cards which is working okay for me. no doubt, i am better off without it.
thanks.
1 person likes this



