Juat a rant, ignore me

[Platapus]

I gotta get this off my chest.

Every day when I am watching the morning news, I am inundated with these commercials trying to convice people that it is ok to defraud the credit card companies

Credit card companies are in the business to make money and they offer a convenience service to the customer -- Use the credit card company's money now and promise to pay it back later with interest.

If you don't like that deal don't use it

But if you take the credit card company's money, buy stuff with it, then you have to pay it back!!!

These "credit help" commercials are driving me nuts! It is not OK to garner benefit from borrowing money and then not pay it back. To me this is stealing or fraud. Just because Credit Card Companies are willing to accept a settlement does not mean it is right. They are willing to accept a settlement because it is better than being cheated out of their entire money.

It is dishonourable to use a credit card and then not pay back the money. The only saving grace is that people who defraud the credit card companies by using these "credit help" companies, will probably never be able to get credit again and rightfully so.

The attitude of these "credit help" companies drives me nuts. They make the defrauding customer out to be the victim and the credit card companies the villain because they simply want their money back.

Sorry for the rant. I really need to move to decaf.

It gets worse. What they are saying is that it is OK to let others pay for your irresponsibility. And believe me others do pay. Either through passing the loss onto other customers, reducing dividends to shareholder, layoffs, or not exrending credit to those who would otherwise be deemed credit worthy.

[Sledgehammer427]

I made a decision very early on to stick with an ATM/charge card.
I will never have a credit card.

If I don't have/make the cash to be buying something, I'll just learn to shrug it off and save my money.

[Ducimus]

I hadn't really looked at this commercials as, "Hey lets cheat the credit card company!", but more of a thing targeted to financially irresponsible dillweeds, and a sign that there must be alot of them if their making commercials like this. Fallout from the "instant gratification" society i suppose.

My ex was terrible. Every christmas, she'd put her self 1500 to 2000 dollars in the hole buying gifts. Not to mention Payday loan's (aka loan sharks), multiple credit cards, etc. It's all a vicious circle, and downward spiral when someone refuses to man up, and endure the hardships that being a financially irresponsible, consumerist schmuck, and shopohaulic brings.

Yeah, i know EXACTLY who those commercials are targeted at. People like my ex.

[Takeda Shingen]

Originally Posted by Ducimus

I hadn't really looked at this commercials as, "Hey lets cheat the credit card company!", but more of a thing targeted to financially irresponsible dillweeds, and a sign that there must be alot of them if their making commercials like this. Fallout from the "instant gratification" society i suppose.

My ex was terrible. Every christmas, she'd put her self 1500 to 2000 dollars in the hole buying gifts. Not to mention Payday loan's (aka loan sharks), multiple credit cards, etc. It's all a vicious circle, and downward spiral when someone refuses to man up, and endure the hardships that being a financially irresponsible, consumerist schmuck, and shopohaulic brings.

Yeah, i know EXACTLY who those commercials are targeted at. People like my ex.

Absolutely. Payday loans are the worst thing that you could possibly do, and those people just prey upon the desperate and irresponsible. Frankly, credit cards are little better. The downfalls of our society of consumerism; we are to want things that we cannot have, and likely do not need.

Personally, I have never touched a credit card. I have zero debt; I have paid off my mortgage and my car. The hundreds of credit card offers I get in the mail every month go promptly in the shredder. They are as a very seductive poison, and a piece of advice that I always give my students is that one of the fastest ways to ruin your life is to mismanage your finances.

I have paid off my mortgage

How did you do that? I am so envious of anyone who can do such a thing as paying off the mortgage. You must be one of the rich. Your effective taxes must be around 93%.

If not they will be under the top 1% class warfare. And you shoulfd be doing anything to reduce your tax rate.

[TLAM Strike]

This is what my banker told me:
Get a credit card and use it to buy gas once a week only. Use it for nothing else.

It build up your credit and doesn't put you in debt.

Credit cards if used wisely can be of financial assistance. If used unwisely they are a disaster for the user and society.

[GoldenRivet]

Couldn't agree with your rant more

[Ducimus]

Originally Posted by TLAM Strike

Get a credit card and use it to buy gas once a week only. Use it for nothing else.

That is exactly what i've been doing.

My truck is paid for, and I owe creditors zero dollars. Well, aside from the weekly trip to the gas pump. Doing this though, besides helping with credit, lets me see exactly what im spending on gas per week/month. I view my credit card as more of a "gasoline bill" then anything else.

[Takeda Shingen]

Originally Posted by Ducimus

That is exactly what i've been doing.

My truck is paid for, and I owe creditors zero dollars. Well, aside from the weekly trip to the gas pump. Doing this though, besides helping with credit, lets me see exactly what im spending on gas per week/month. I view my credit card as more of a "gasoline bill" then anything else.

I can understand why people do that, and I applaud your restraint. Yes, it will boost your credit score. Personally, I would just rather not have them in the wallet at all.

[AVGWarhawk]

Originally Posted by TLAM Strike

This is what my banker told me:
Get a credit card and use it to buy gas once a week only. Use it for nothing else.

It build up your credit and doesn't put you in debt.

We keep small bean bag cards just for this purpose. My wife has two clothing store cards and we have one major credit card. All paid on time and carry a minimal balance. Creditors want to see consistancy in payments. No late payments or going over the credit limit. This builds your credit. Need to be careful and show restraint with the cards. That hole is so easy to dig and clawing your way out is very difficult. Been there and done that a very long time ago. Learned our lesson and got it straight.

[TLAM Strike]

Originally Posted by AVGWarhawk

Creditors want to see consistancy in payments. No late payments or going over the credit limit. This builds your credit.

Consistency in everything is what a creditor wants to see. I have a friend who works in the loan department of a car dealership a few towns over, I was talking to him once and said I've been at the same job for 3 years now and he said that's good. People who come in to his office looking for finance for their new car get denied because they can't hold down a job for a long period of time.

[yubba]

Well if they are stupid enough to give me money

[jumpy]

^^
hehe

If only that was the whole story with banks though.

My credit debt was not caused by unfettered spending above my means... at least until my means were taken away lol, then it was use the credit card or live in the dark, or outdoors in a cardboard box.

I wonder how true this is for many people who are living with the cost of the recession when they were prudent and conservative in their spending and saving habits - ie what was traditionally defined as good banking customers?