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Credit cards... Love em...Hate em?

Posted by on Feb. 13, 2009 at 11:36 PM
  • 34 Replies

 

Poll

Question: What do you think about credit cards?

Options:

Love them!

Hate them!

Other, please explain


Only group members can vote in this poll.

Total Votes: 65

View Results

Just wondering how many mamas have credit cards. im thinking about getting one just to build some credit.. for emergency purposes.  so do you love them or hate them?.. I was also wondering how long it takes to get approved? which card company is your favorite?

 

 




 




 




 

by on Feb. 13, 2009 at 11:36 PM
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Replies (1-10):
spoiled_wife
by on Feb. 13, 2009 at 11:37 PM

Hate them.

I haven't used a credit card in over a decade. 

                                      

Ajanee12
by Platinum Member on Feb. 13, 2009 at 11:40 PM

may i ask why? did they charge alot of interest?.. ima newbie at all this lol

Quoting spoiled_wife:

Hate them.

I haven't used a credit card in over a decade. 





 




 




 

thurbese
by on Feb. 13, 2009 at 11:42 PM

Love em! but hate payin them back. lol.

spoiled_wife
by on Feb. 13, 2009 at 11:55 PM

Here's some of my reasons that I do not have/use credit cards.

1. A credit card company can raise your interest rates if you are late paying (even one day) any bill. Not just  theirs. Pay your light bill late, your credit card company can (and will) raise your interest rate.

2. Some credit card companies actually base your interest rates on where you shop and the other shoppers in the store.. Say you use your card at WalMart, the  4 out of the 6 people in the same line as you have crappy credit. The credit card company can/will raise your interest rates based on the credit of other shoppers in the stores you frequent.

3. Credit card companies (fully admit to this as well), make the largest percentage of their profits off of people who can not pay their bills. And they like it that way. Credit card companies refer to people who pay their bills off every month as "dead beats". And some credit card companies are now actually threatening to cut off credit to these "dead beats" because they do not make money off of them. Credit card companies make their profits off of interest and fees. So they prey on people they know can only make monthly minimums (at best) to keep the profits rolling in.

4. I'm a firm believer in"If I can't afford to pay cash for something.. Then I don't need it".

5. For emergencies, I have consistently put a percentage of my paycheck into a high yield savings account for a couple of decades.  Knock on wood, I've never needed to touch that money yet.

I built up my credit by saving and borrowing from my bank. I saved up :X" amount, then borrowed a matching amount from the same bank. Paid it off.. And instantly started building a good credit rating.

Many people are good with using credit cards. I'm just one of those people who do not like or use them. I use my debit card for anything and everything that someone would use a credit card for (like booking hotel rooms and stuff like that).

Sorry for the book.. LOL. But I've learned over the years, that credit card companies have the deck stacked against the debtor and many do not know ho high that deck is stacked.

Quoting Ajanee12:

may i ask why? did they charge alot of interest?.. ima newbie at all this lol

Quoting spoiled_wife:

Hate them.

I haven't used a credit card in over a decade. 



                                               

lovemymarine306
by on Feb. 13, 2009 at 11:57 PM

i hate them!  my hubby always maxed them out and got cards without telling me...so we paid them off and cut them up.  we were way too deep in debt, and keeping them would be too much of a temptation for him

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teresa06
by on Feb. 14, 2009 at 12:00 AM

Here i am not even 21 years old yet(the 28th im exctied) and i have racked up 5000 dollars and now i cant pay it back due to the bitch that fired me a couple months ago from babysitting when we had an agreement. Anyways point is is that i hate theONE i have lol. I was just going to use it for baby stuff and i dont think i ever put one baby thing on there. or i was also gonna use it for just emergencys as well. I would suggest not getting one unless you are 100000% sure you can pay it on time and make the min payment plus some. JMO

LOni01908
by on Feb. 14, 2009 at 12:03 AM

I HATE HATE HATE 'em and refuse to use them! They can suck you in quick! I guess I am not responsible enough? Maybe more like no self control! I just dont trust myself and dont want to screw myself over!


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mamaoftwins9197
by on Feb. 14, 2009 at 12:04 AM

I've had them in the past, but have none now.  I figure if I don't have the money for it, I don't need it!!!


Magpie75
by on Feb. 14, 2009 at 12:04 AM

We have credit cards but use them wisely.  They are a good thing to have sometimes as long as you can pay them off.  We try to keep our balance at half of the limit at most.

LOni01908
by on Feb. 14, 2009 at 12:05 AM

I agree! :D

Quoting mamaoftwins9197:

I've had them in the past, but have none now.  I figure if I don't have the money for it, I don't need it!!!


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