Credit card abusers

@ellie26 (4128)
Malaysia
June 11, 2007 5:10am CST
Most of us use credit cards. Those who use it wisely will benefit from it while those who use it to spend without control will surely fall into debt trap. I have personally fall into deep debt when I used my credit cards. I didnt think before I spent. I came close to being declare bankruptcy when I couldnt even come up with the minimum payment. It was just pure luck I was able to get out of my credit card debts. So, do you think having credit cards give more advantages than disadvantages? Who do you think spend more on credit cards, men or women?
6 people like this
18 responses
• United States
11 Jun 07
I think that we buy more things, women I mean. However men buy more expensive things, less but higher priced. I think that they don't buy quite as many things as we do, just more pricey. My husband and I recently got credit cards, and I really never liked the idea of a credit card until now. I only pay about 15 dollars a month on my balance, and I pay it on time. I can use my monthly mylot earnings to pay it, its that simple. I think that credit cards are a great way to build credit, good or bad. You just have to not splurge as much, I have a family member that has 30,000 dollar limit. Of course they've had the card for like 20 years, and they pay on time and more than the min. Still if you can keep it up and get that kind of limit on your card its the best insurance you can have. I couldn't imagine ever getting that high, but I think that its great to get a credit card to purchase the things you need. We use my credit card for gas, and my husbands is for groceries. We only buy a few groceries a month on it, such as milk, eggs, and etc. The gas one is a little more expensive, but its easy to use and helps you keep track of your purchases on gas receipts. So if my advice to you is if you have credit cards, just use them wisely. They can help you, or they can hurt you.
3 people like this
@ellie26 (4128)
• Malaysia
11 Jun 07
Thanks for the advice, SilentRose19. Unfortunate, due to the bad experience I had with credit cards, I am now opt for debit card which I can easily control my spending plus I do not have to pay the high interest credit cards company imposed to users. Thanks for your response.
• Singapore
13 Jun 07
Assuming you do not need to pay for your membership, I think it is a good deal. In Singapore, most cards are eager to offer you free waiver on their membership fees. With cards, they can help you consolidate your finances. Most also have some cashback or reward programs that would be out of your reach if you were using just cash.
2 people like this
@mamacathie (3929)
• United States
11 Jun 07
Credit cards are very dangerous. They are so tempting. They make you want to spend way beyond your means. If you can spend and pay the entire amount off at the end of the month but so many times there is not enough money left at the end of the month to pay the entire bill. The credit card companies offer great rebate offers but all in all we need to stay completely away from them.
2 people like this
@easy888 (10405)
• Australia
11 Jun 07
Hello.ellie,how could you get out of the debt then?Pure luck can mean many things. Credit card can have its advantages and disadvantages,depend on howj you are going to use it.If you can control your budget,it will be very convinient for you when you are shopping,you do not need to carry so much cash when going out,you can also shop online. However,if you cannot control yourself,it will be very easy to financial problem.
@ellie26 (4128)
• Malaysia
11 Jun 07
Hi easy888. Well, I was able to clear my credit cards debt when one of my mother's land was bought by a developer to turn it into housing project. My mother distributed the money evenly amongst my siblings. So I used my portion to pay off my credit cards debt. Isn't that pure luck?
@easy888 (10405)
• Australia
11 Jun 07
oh that was really lucky then,i think you have learned how to control your spending now,aren;t you?
1 person likes this
@ellie26 (4128)
• Malaysia
11 Jun 07
Yes, I guess so. Learn from your mistakes?
@livewyre (2455)
13 Jun 07
I like your discussions... Congratulations on getting out of debt. I have overspent on cards on a couple of occassions in the past, but am on the way to paying them all off now. I have switched to a 0% credit card deal and put all my spare cash towards paying the debt off. I never use credit cards now and like you, only use debit cards. I rarely even take cash with me unless I know I will need it, that way I am not tempted to spend here and there. I am resolved to pay off all I owe and start saving so that I have money in the bank when I need it. I will probably have to take out another 0% deal to switch the debt to in a years time, but am determined to pay it off completely. My wife is now a full-time Mom, so we have had to look at our finances very closely. As a result I think we are probably better off than when we had two incomes because now we are so careful. There is a frightening amount of people who have not grasped that it is bad to spend more than you actually earn!! and credit cards is the way you do it...
1 person likes this
@livewyre (2455)
13 Jun 07
oh and the other thing...I definitely had more CC debt than my wife!
1 person likes this
@ellie26 (4128)
• Malaysia
13 Jun 07
Hi livewyre, I am glad you like my discussion. This is what some people experience and hopefully with some we will be able to learn more about the use of credit cards from here. I hope that you will be able to pay off all your credit debts. Thanks for your response.
@sukumar794 (5047)
• Thiruvananthapuram, India
11 Jun 07
I'm also in a trap like you .I didn't imagine that holding credit cards can be this much burdensome. Now i feel it very hard to pay them up and being called upon by the issuer from time to time, it gives me a lot of tension too. By the way did they take any drastic measures to recover the debt from you ?
1 person likes this
@ellie26 (4128)
• Malaysia
11 Jun 07
Yes, they did. They get the debt collectors agent to call me every month to pay and issued me legal letters. They even come knocking at my door. They did not care how you come up with the payment. To make matter worse, every expenses incurred by them to recover my debts will be borne by me including legal fees. On top of that the late payment charges/interest was terrible and kept on increasing. It affected me mentally. I closed all my windows and door to make it appeared nobody at home. I didnt even dare to pick up the phone. There was one time where they were in the process to confiscate my house and everything in it. But I was lucky because I managed to talk to the solicitor who handled my case to delay the process. Now that I have cleared all my credit card debts, I can live peacefully. I hope everyone who have credit cards to be prudent in their spending.
1 person likes this
@greylady (153)
• United States
11 Jun 07
They will call as many as seven or eight times a day. They call on Saturdays and Sundays even more often. At least that has been my experience. Once you miss a payment or are late they raise your interest rate. Once you fall behind late fees and penalties are added onto your balance which causes you to owe more than you did to start with. If you can't pay the entire balance at the end of the month stay away from using a credit card
@mamasan34 (6521)
• United States
14 Jun 07
i think credit cards can be advantageous if you are careful and use them in the correct manner. those who abuse their credit cards can't pay them back in time and end up owing more than what you spent. Therefore you end up losing twice as much money due to interest. My brother depends upon his credit cards to live and this is dangerous! I think both men and women can be addicted to credit cards and some just don't need to have htem in their lives.
1 person likes this
@wisedragon (2330)
• Philippines
12 Jun 07
I've seen this lots of times, on men, women, gays. They are usually people who shop impulsively, without thinking, without considering the consequences. They think "credit limit" means "this is how much you should spend every month". The bottom line is financial intelligence. If you educate yourself about money, how it works, how to manage it properly, and discipline yourself in handling it, the credit card can actually be a very convenient tool especially in emergencies.
@Haisum (35)
• Pakistan
12 Jun 07
well i also dont like them coz i m also like i just buy whtever i like so dats y
1 person likes this
@jcvernz (477)
• Philippines
12 Jun 07
Me, personally i have also credit cards. But if only i have a choice then i would get out of this credit cards but one way or another it really has advantages to my life. Its up for you to control yourself in using it. Me i used my credit card for the needs of my family...like groceries, milk for my baby and his personal belongings. I have learn to use it as wisely as possible or not i would have a big debt for sure. Be responsible in using credit card is what i opt to coz i don't want i have to regret after, if it is used on not so important things. As my observation in most cases women do spend more on credit cards on men.
1 person likes this
@maddysmommy (16233)
• United States
12 Jun 07
Well in my case the only reason why we applied for a credit card was to establish a credit since arriving in the USA. This is our very first credit card ever so I have heard of family members getting themselves into debt because of credit cards, so we are taking it slow. There are advantages and disadvantages and that would depend on the people using them, whether they pay their bills on time or neglect to pay them at all. We only have a small credit amount, just enough to use if and when we really need to and it is always paid off in full every month. I hope it stays this way :)
@FSCAries (881)
• United States
12 Jun 07
I try and be responsible with my credit cards and usually I am. Currently though, I am into one for about 2500 though, I fell on rough times and let my credit card see me through it! I will have to work at getting it right again, but that's how it goes. I think women probably spend more on credit cards, seeing as how men don't usually like to even shop!
1 person likes this
@maryannemax (12170)
• Sweden
12 Jun 07
i am not sure whether men uses credit cards more or women. but i know lots of friends of mine who ended up being in debt with their overusage of credit cards. they admitted that with credit cards, they feel so rich that they can buy anything they wanted. and so, it's when they start falling into debt, too. but they realized the consequences of it later. i am glad to know you are already okey and that you have learned your lessons. and i hope you won't be tempted to use them again... anne
1 person likes this
@kgwat70 (13395)
• United States
12 Jun 07
I am guilty of abusing my credit cards in the past and am doing better with them. The biggest advantage of having one is if you have a car that breaks down and needs major repair work and you do not have the cash. I try to avoid using my credit cards now other than that or a large purchase and use my debit card and cash for pretty much for everything else. It is best to only have one credit card so you can resist the temptation. It is tough to say who spends more since guys like to buy computers, tvs and electronic stuff and women probably like buying shoes and clothes more than anything else.
@lingli_78 (12836)
• Australia
11 Jun 07
well, i think you are right... credit card can bring advantage to you if you use it wisely... but it can trapped you into a deep debt if you use it unwisely... for me, i always think carefully first before i use my credit card... if i can afford it, then i will buy it... otherwise, i won't... i usually use it just for groceries and i only have one credit card that i use actively... i also set the credit to the minimum to avoid over using it... so for me crefit card gives me advantages because i can always make the full repayment on time... it gives me extra time to earn money to pay for my spending... it's good that you had managed to clear your credit card debts...
1 person likes this
@anja31 (708)
• Canada
11 Jun 07
I have one credit card and I am using it rarely. if I know I can pay I will use my credit card, but I prefer for not using it. I hate to use the credit card. There are many men who like to spend money, not only women. For me is you are using the credit card wisely than it is an advantage.
1 person likes this
@rusty2rusty (6760)
• Defiance, Ohio
11 Jun 07
I think credit cards offer huge advantages if you use them properly. To many people think they know what they are doing and how to use them but don't. I am one of the lucky ones who have not fallen trap to the credit card abuse. I think it is about even on who spends more on credit cards. Society is getting more and more plastic and trying to get away from using the dollar bill. Thus I think is the reason so many people fall pray to credit card abuse.
1 person likes this
@abroji (3247)
• India
11 Jun 07
I do not know if men use credit cards more than women or vice versa, but I know this. While using credit cards we should be very carefull. It seems like these cc companies have no norms in fixing charges, interests and fines. If possible we should avoid using credit card. I have a card, but seldom do I use it.