Credit cards, license to spend or practical addition to well thought our finance
By Amy
@artemis432 (7474)
Abernathy, Texas
6 responses
@musicman6 (2406)
• United States
18 Sep 07
Oh, I'm sure credit cards have affected everybody's life that have them! There are very few people I know of, that use credt cards to their advantage! They have run this economy rampantly into debt! People do not see the money they are throwing away on finance fees associated with credit! I finally seen the light, and eventually got rid of mine,and I get along great without them!
2 people like this
@artemis432 (7474)
• Abernathy, Texas
18 Sep 07
Thanks for your response. "Describe a way they have affected your life."
2 people like this
@musicman6 (2406)
• United States
19 Sep 07
They have given me an insight into the world of bookkeeping! Ever since those "financial failures" I had with credit cards, I learned to keep a budget, and a close watch on my expenditures, and even plan for the future!
1 person likes this
@yellowmandi (102)
• India
19 Sep 07
Hi friend, I think credit cards are only for those who have a lot of money, but cann't travel with money. and credit card is not for middle class family like me.
thanks
2 people like this
@musicman6 (2406)
• United States
20 Sep 07
This is a good perspective yellowmandi, I've never looked at it like that before!
@Perry2007 (2229)
• Philippines
22 Sep 07
I never had a credit card, That was by choice because my sister talks about how bad the services of credit cards are, how she complains and denounce credit cards but can not live without them, so I didn't dare having one. now I have problem because the Internet purchase mostly ask for a credit card, and I don't have one. lol.
@anniepa (27955)
• United States
19 Sep 07
Credit cards can be both a life-saver and a killer! I've told bits and pieces of my "sob story" here on myLot so I'll now simply say I went from having a good paying job and excellent credit (and the lifestyle to go with it) to being out of work and awaiting a disability claim and deeply in debt with terrible credit. My husband and I used our credit cards wisely for years and they really helped us out when my daughter started with Crohne's disease and had to take very expensive medication which her insurance didn't pay for. When I say "expensive" I mean $500+ for 5 pills which had to be refilled three times within a week and a half and if she didn't take them her liver may have failed. If we hadn't had the credit cards I shudder to think what would've happened. But, as I said my situation now is such where I have debt I can't pay right now and it really hurts. I'm not the kind of person who spends like crazy and doesn't pay my bills but it's been a case of circumstances beyond my control. I advise anyone who will listen to me to avoid credit card debt like the plague if at all possible.
Annie
2 people like this
@pyewacket (43903)
• United States
22 Sep 07
I noticed you responded to my reply here...Oh, how I wish, with the credit cards I had that I could have gotten "things"--like a new stereo system, or bed..but no...since I was on SSI benefits, but no food stamps I used them mainly for food...I'm so glad that I recently came into some money...it was a tax refund check of my mother who is deceased, but I still had to file her taxes and I was entitled to have the money as her personal representative --with it I plan to pay off three of my four credit cards in full, tear them apart with my bare hands and say goodbye to them..as for how I'll pay the fourth though..no idea...and you're so right as you mentioned in your reply to mine...with those "fees" they slap on cards, it's so easy to not only owe the total credit limit but a few hundred dollars over it...what a rip off!
@pyewacket (43903)
• United States
19 Sep 07
Well right now I just came into some money that will pay off three credit cards entirely and plan to get rid of them, and can pay something into the fourth one...the credit limit was never big..$500 each..I had no problem paying them when my mother was alive, but now...yeesh...I'm in "hardship" mode with the cards as I haven't been able to pay them off at all...And nope, I didn't use them to be extravagant with myself..when my mother was alive we both tried to get food stamps but the combined money from her SS/pension and my SSI was considered too much by about a mere $40 a month..so believ it or not I used the cards just to get food! I'll be SO glad to pay off those cards now
1 person likes this
@anniepa (27955)
• United States
20 Sep 07
I sure do believe you! Can you imagine being over by $40 a month, I mean what can that buy? Then the CC companies sure don't show you any mercy if you happen to be an hour late with yur payment. I think it's shameful how they tack fees upon fees - late payment, over-limit, then they increase your interest rate because of your late payments. A $500 balance can turn into $2000 in the blink of an eye and that's outrageous. Uh-ohh...I'm getting started with my venting over the CC industry...
Annie
1 person likes this
@pyewacket (43903)
• United States
22 Sep 07
I was so happy to think that with the money I had gotten from my mother's refund check from the IRS could pay off three of my credit cards in full, and at least the total of the overlimit and late fees on the fourth, but by the time I was able to settle the business of getting the refund check, the CC slapped on more fees! So now I can only pay off three of the cards in full...crap!
@andyliuzn (1029)
• Guangzhou, China
21 Sep 07
Hi Credit Card does bring me into debt quite often, but it also brings me much convenience in cases when I don't have that much cash on hand or also when I would like to pay something by installment:)
WBR,Andy
