ebrown p wrote:
Cyclo I am with you... no credit card for me (only a debit card).
Chai, you are part of a gambling ring. They are betting that you will fall behind... and when you do they will extract far more that $700 out of you. Of course (as with any gamble) they may lose... but then they may win big. The fact that a few people make it ahead shouldn't surprise you, this was even true of the Bernie Madoff scheme.
I promise you they win big more than enough to pay for their jet planes and shiny tall buildings.
Should you really make it ahead, you should sleep well at night knowing that this money they are giving to you is being bled from some single mother who is just trying to keep her kids fed and clothed.
The credit card industry is evil.
I'm not gambling. I pay off my credit card(s) each month, period, end of subject.
A gamble is when there is risk involved that I will not pay my debt. That risk does not exist for me.
I can say with 100% certainty that I will never owe interest on the credit card I use for my daily expenses.
I am not starving a single mother who is trying to keep her children fed and clothed. She made the decesion to not handle her money properly If she had come to me looking for advice I could have prevented her from falling into her debt trap, of this I have no doubt.
Why is it that when people are smart with their money, it means they are cheating someone else?
I am taking advantage of the fact that credit card companies do not have faith that I will pay my debts. That's their fault.
So, instead of benefiting from my good spending habits, I should pay cash and not reap the benefits of those life long habits?
That, is foolish.
Would you be happier if I was a single starving mother?
Sounds like I'm damned if I do and damned it I don't.
Roger, I agree with you, I do not have, or use a debit card. I have never been able to see the sense in them, and for me they would serve no purpose.