Credit Cards Suck.

[WTL]

This is a public service announcement from WTL.

Credit Cards are satan incarnated into plastic. Stay away. They are a great deal.... for credit companies. Interest rates are prone to going up by only missing 1 payment. My APR was at 28 and something percent. The language used in user agreements is so deliberatly obtuse that it makes the US federal income tax code seem reasonably concise. To pay these things off try to have them consolodated and the interest levels reduced (I used incharge.org) and then save every nickel and dime for several years and you will get out of slavery - and credit card ownership is a form of slavery. Most people who "need" credit cards are the same people who can't pay them off if the debt gets too big. Keep your kids away. Repeat, KEEP YOUR KIDS AWAY!!! Give them a 3 pronged speech every night regarding safe sex, being drug free and flicking the bird to every credit card company in existence.


Yes, I just paid off about 3 grand in cards a few seconds ago. All that money gone to some pointy headed douche with a calculator who had me by the balls and by a single number; an interest rate. But my indentured servitude is almost over, I am almost free.

[Jim80]

Personally have never had a card other than my bank card and refuse to . If i can't afford it i don't buy it . It takes it a little longer for me to get some of things i want but no debt .

[doc]

Jim im in the same boat as you. I'm a banker I see every day the troubles of people with credit cards. I have my debit card if I need it and not a single credit card. I also have a checking account and don't have a single check. I still believe in cash, money... When its gone its gone and you cant get in trouble by spending more

[Jim80]

Ya know what gets me is the credit card companies have moved society as a whole . It's almost like people have forgotten that cash is still around . I recently bought a new tv nothing insane but when i handed the girl behind the counter $700.00 she looked at me like i was retarted for paying with cash and on top of that she couldn't properly count the change . just goes to show the state of things .

[WTL]

Its just more of a hassle to count money than credit. I work part time at a hotel and I always (secretly) hope that when someone opens their wallet they hand me a card. Its just quicker thats all. Debit cards are good, just as long as you watch your balance and don't overdraw.

[BigBassin144]

Credit cards are fine as long as you can pay them off ON TIME. When you do this, you're just building up your credit and it makes getting loans and such much easier. But when you use your credit card for things you can't afford and can't pay off, that's when you've got trouble.

The thing that gets me is the new cards where you just touch it to the thing and walk away. That just doesn't seem safe at all....

BB

[Bass'n'cast]

without out credit cards it pretty hard to build up credit, no? how else can u get credit?

[Jim80]

trust me i hear on that i'm in retail myelf and do find it easier to take a credit sale as well but , it is another one of those things that adds to the lazy attitude of the average american . I'm more than sure that if someone handed you cash you could give them the proper change without the help of the register were as the girl that waited on me could not and was what i was reffering to .

[Jim80]

there are other ways to build a credit score ie. your cell phone bill (which actually hurts your credit score if not paided worse than a delinquent credit card ) car payment or pretty much any monthly bill .

[bamabassman]

another way to build credit is to get a 90 day loan. pay it in 90 days. get another one. and don't get a 5,00 dollar one. start small. i did that years ago. got them where i banked at.

[doc]

Originally Posted by bamabassman

another way to build credit is to get a 90 day loan. pay it in 90 days. get another one. and don't get a 5,00 dollar one. start small. i did that years ago. got them where i banked at.

A bunch of small loans is a sign of credit trouble

[3dkicker]

For some unknown reason I've always had excellent credit (yep over 800). When I bought my house last summer I got a credit report and it showed that my rating had dropped due to too much interest from the banks in my credit rating. Because I was looking for a loan to buy a house my credit rating dropped. Amazing how things work.

Oh and I love how the debt collectors threaten to hurt your credit ratings if you don't pay up. I have $31 due to a major gas company because they failed to shut off service when I instructed them to. They want me to pay it and I won't due to their screw up. The debt collector threatened me with my credit rating and I laughed at them and told them go ahead. A contested $31 bill is going to keep me from getting a car loan. I don't think so.

[bamabassman]

worked for me doc. it was over 20 something years ago though. things have changed now i guess. we have great credit rating too 3d. went through he!! to get there. but we have it after both getting bad deals with first marrages. long story, but you get the idea i am sure.

[Marty]

As has been said, credit cards are great if you pay them off each month. They offer me unparalleled convenience, from the gas station to the supermarket to the tackle sellers to emergency situations.

[bamabassman]

agreed...but DO NOT over use them friends. can get you into aLOT of trouble. especially if you and your wife are having troubles. she'll run em up and kick you out, hahahaha. then YOU have to pay the bills. happened to me. now i only have 2 cards. and a check card. credit cards are for emerginecs, check card is for everything else.

[Bender]

I had the same credit card troubles when I was younger too, they give them away like candy when you are in college. Finally got all that taken care of a few years ago but it still hangs on the credit report for a long time. Now I just have one that I only use for online purchases. I'm still too scared to share a direct link to my checking account (debit card) over the net and have that info stored in somebody's database.