 A few questions about credit cards? |
I was thinking of getting a credit card ..but before i do i have a few questions and i am hoping someone will be able to help me.
I was thinking of starting with a credit card of a limit of $500 ... |
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 Are you supposed to pay your credit card bill in full every time? |
| I have heard a few different theories regarding building your credit using a credit card...I have paid off my credit card IN FULL every time the bill is due. Some people tell me that if I just pay ... |
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 Collection agency.? |
| Wow, I just talked to one of the agent and he was quit rude; I asked if I can work out a payment arrangement or pay a lower amount so I can pay it full and he said "we don't give out ... |
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 What is the point of holding on to paycheck stubs/reciepts??? |
Some one told me to hang on to my paycheck stubs and reciepts that i get from using my debit card...
why would i need to hold on to these things and when can i shred them??... |
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 How can I get out of the payday loan trap.? |
| I have fallen into the payday loan trap and am looking for a way out. Any advice will be appreciated.... |
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 Can a collection agency but my account and then file a judgement againgt me? |
| a collection agency is sueing me for an account i had with a credit card company. The credit card company charged off the debt. Is this legal? can this be done?... |
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 Need some advice on an old debt? |
| My partner recieved a letter yesterday from a debt collection agency saying he owed £8,136.00! He telephoned them to ask what on earth it was for and he was told it was for a car he got on finance ... |
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 Where do you get a loan? |
| When even prosper says your credit score is to low? I just bought a car for 200 on friday it broke down on monday. Need a car BAD. is there any place that will loan money to people with less then a 52... |
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 Debit Cards? |
| If i want to purchase an item online, and it asks for credit cards. Am I able to still purchase that item with my debit card?... |
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 I owe several old debts under $70. Should I pay? |
Additional Details
The debts are all from the year 2004... |
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 Which bill should I pay right now? |
| I know they always say to pay off the credit card/loan with the highest interest rate. In my case, if I have $1,100 to spend, should I pay off a loan that has a balance of $600 (7.9% interest) and ... |
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 Where can I go to see my entire credit history? |
| Is there anywhere on the internet where I can go to find out exactly what debts I have in my name? I'm in the process of trying to fix my credit but I have a few things that I'm not even ... |
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| How can I get a Visa card? |
| I'm 18 years old, just finished high school and frequently I find myself on the internet wanting to buy cheap things in the $20-50 range, and I was wondering how and if I can get a $500-$1000 ... |
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JSM | As I started a finance education course recently, I realized how destructive the credit card system is to? |
the country and the world. What can be done as an alternative so we can take back our freedom and sanity from the credit card companies?
Additional Details
for those of you who are not quite convinced that the way credit cards are marketed and used today is destructive, you simply have no clue. It is not that far from how the tobaco companies market cigarettes. |
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Panos
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dont never borrow.Paying minimum payment (2.5%) on a debt of 7000 £ will take about 30 something years to clear!!!!! |
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jimb053188
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There really is no "alternative" that will work. People need to save money and not use credit. However, the savings rate in the US is -1.5%, the lowest since the Great Depression. This is a "want it now" society and until people realize they NEED to save and only spend the money they have (unless its a house or REAL emergency, not a sale on shoes) we will be dependant on credit. I dont like it, but there isn't a popular solution that people will go for. Hopefully with all of the refi issues in the mortgage industry people will start to realize that. Staying out of debt from day one and teaching our kids to do the same is the BEST and only real solution. |
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Paddy
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I agree. There was a time when the only way to obtain expensive items was by signing a Hire Purchase agreement if you couldn't keep up the payments the company reclaimed the item and the debt was cleared. Also you could get a bank loan but had to declare the reason for this and fill in the forms. Now since the advent of the; American Express Card credit companies are falling over themselves to get you into debt. Ultimately the credit card companies will have control of most of our income, and whatever you earn will be reduced by whatever interest your card is charging |
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src50
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The credit card industry is not "evil" if you understand it and manage your use of it. It IS somewhat unethical, though legal, the way they pander to unsophisticated potential customers like college students. |
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John B
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Although I know nothing about the finance education course you are enrolled in, I would be wary of any course that makes blanket statements like "credit cards are destructive". There is a large number of people for whom credit cards have been destructive, but properly used they can be a useful tool.
The best solution is to strengthen finance education in this country. Educate young people so that they know that paying the minimum balance on most cards will result in being saddled with debt for decades, that credit card debt is no longer discharged in bankruptcy, and that irresponsible use of a credit card can affect your ability to buy a car, house, etc.
The only alternative would be to abolish credit cards entirely in a grand statement that Americans are as a whole too irresponsible and stupid to handle credit -- something I don't personally believe to be true. |
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Contented
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As long as the banks and credit card companies are making such huge profits, there is no way that will consider any reform that jeopardizes those profits.
The only people who use credit cards to their advantage are those who pay them off monthly - incur no credit charges - they get to use the money for free. Credit card companies call them deadbeats. |
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Ken D
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Because the credit card is just a piece of plastic and people don't see it as real money they spend money like water, my credit card company has just upped my limit another £4000, why I don't know but just look at the debt I could get into, my limit now is £15000 |
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enoriverbend
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A credit card is a tool. It's not evil in itself. It's not entirely the fault of banks that people are stupid about money. After all, people are stupid about money in a number of other ways that don't have to do with credit cards.
What can be done? You have a choice -- you can do without credit cards, you can use credit cards responsibly, or you can be an idiot. |
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heybulldog
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dont use them. There is a movement going on in this country. People are getting rid of their cards everyday.
Banks brainwash people into thinking they need credit cards and a good fico (I Love Debt ) score to make it in todays world. Thats a bunch of bull! Pay as you go and you'll always come out ahead.
check out daveramsey.com and listen to his radio show on money and debt. |
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Steve R
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Credit cards are the best idea if you can afford to pay with cash. Are you going to walk around with a wad of 200 $20 bills in your pockets? CCs are safe, you get buyers protection if something goes wrong with the item. If they are lost or stolen, you are only liable at most for $50. If you lose cash, it's gone. |
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