Do you pay your bills off on time every month?
By vivasuzi
@vivasuzi (4127)
United States
September 23, 2008 11:05pm CST
I'm watching a special now on how many people owe 10s of 1000s of dollars to credit card companies and, although I know they say it's easy to get addicted and into this debt, I just don't understand it.
I have people tell me that they will NEVER own a credit card b/c they see so many others in debt. However, I own 2 and I pay them off each month, I never have to pay interest, and I'm not in debt. I use credit cards for the sole purpose of earning cash back. When you pay with Cash, you won't get cash back. When you pay with credit, you earn rewards or cash back.
So why do you think it is that people get into debt with credit? When I charge something, I think of it as if it was coming straight out of my bank account and I only charge things I can pay off that month. I know a lot of people think of credit cards as "I'm gonna get everything I want as soon as I can and pay it off later" but why is it that so many people can't do the math and realize they are paying so much in interest by doing this???
What are your thoughts? Is it because credit cards came out of nowhere and so many people got addicted? Any other reasons you think?
1 person likes this
1 response
@jnk3dfx (721)
• India
24 Sep 08
Ya I always do that, Because i dont want to pay extra for not paying back amount on time or dont to pay extra interest for not paying on time. I have list with me and also my mobile alerts which keeps me reminding about my Credit Card pending payments and Mobile bil payments, or electricity bill payments. So I never being late paid or never forgot to pay any bill.
1 person likes this
@vivasuzi (4127)
• United States
24 Sep 08
I do that too, lots of alerts. I get an alert everytime something is charged over 100$. Usually I know about it, a few times my husband told me and I forgot, but overall I am constantly aware of how much my bill is and I always plan to pay it off once it comes due.
I forgot a bill once, a small one for a store I shop at. They sent me the bill in the mail the week of my wedding... I set it aside and forgot. You know what they did? Even when I noticed it was a month or two late and paid it (very small amount, like 100$), they said my card was on lockdown. Wouldn't approve me to change it to my new married name. I thought it was so dumb that I paid off my bills to them on time or early EVERY time, but I missed once and they totally made it impossible for me to use the card anymore.
Now everytime I go to that store they ask if I want to sign up for their card, and I say No Thanks! I still get all the coupons I used to get, so no need for a card that is that strict.
