It's not the credit card companies fault- it is the fault of the individual for not staying liquid enough. It is an unfortunate situation, but it's life. And if a car breaking down would prevent you from making your payment on time, then perhaps it doesn't make sense to have a credit card.

Ok, bad example and I wasn't blaming cc companies. I was attempting to illustrate why not to use CC's at all but did a poor job of it. How about instead of your car breaking down your heat/air unit in your house goes out? Or your appendix ruptures? Or you car breaks down and you get termites?

 

If your that liquid then why use the card to start with?

Ok, bad example and I wasn't blaming cc companies. I was attempting to illustrate why not to use CC's at all but did a poor job of it. How about instead of your car breaking down your heat/air unit in your house goes out? Or your appendix ruptures? Or you car breaks down and you get termites?

 

If your that liquid then why use the card to start with?

Because the advantage of a Credit Card compared to a Debit Card is that you get rewards for a CC, and you get to defer payment (I know, you don't need to, but you can)

 

I won't deny that debit cards or checks or cash are safer. But if you keep very, very close watch on your CC and can make your payments on time without fail, then you might as well use it.

The bailouts in general are yet another illustration of the TRAGIC death of personal responsibility in this country. Everywhere you look.......

 

1. Don't want to work? AFDC, Section 8, Food stamps there to bail you out.

2. Dump a cup of hot coffee in your lap? A nice bloated legal settlement there to ease your pain.

3. Want to loan money to people who can't pay it back? No, problem. Plenty of taxpayers out there to pitch in.

4. So you ran your automobile manufacturer into the ground? Stop worrying. Uncle Sam will save you, steal the company from the investors, and give it to the perps. Smile. Be happy.

5. Upset by something somebody said? Easy. We'll just label it "hate speech" and call it a crime.

6. Made a few bad investments in your insurance conglomerate? See #3.

I don't feel bad for the credit card companies. I'm pretty sure a bill was passed that they can't jack up the rates like they used too. If it hasn't passed it is being looked at. I think that is a good idea. Like others I got the free tshirts on spring break and ran up my card in college. I had the attitude that I only lived once and was going to enjoy college. I worked all through college and paid on it. It was still high plus borrowed money for engagement ring and paid my Masters Degree myself. My parents weren't about to bail me out. I learned the hard way which was the right way. I worked and paid it all off.

I don't know how we expect the younger generations (I'm not that old but I'm talking about high schoolers etc) to work hard. We have set up a society that looks like this:

1. Spend tons of money to go to college.

2. Get a degree but good luck finding jobs in a lot of cases.

3. Spend like crazy and live off the government or others that work because that is what is the standard that is being set right now.

I still work with high school kids coaching football. I can't tell you how many times I've talked to kids about setting goals and thinking about their future. The sad thing is I've had multiple conversations where kids say I'm not doing anything after school. Why would I? I can just hang out and do what I want all day plus still get a nice check + eat well. It's really sad but true!

I use my BP card for a lot of purchases. 5% on all gas purchases at a BP. 2 % at restaurants and hotels and 1% for anything else. We pay it each month and we use the cash back money each year when we go on vacation. As long as you make your payments and draw no interest you can make some money off the credit card companies.

I use my BP card for a lot of purchases. 5% on all gas purchases at a BP. 2 % at restaurants and hotels and 1% for anything else. We pay it each month and we use the cash back money each year when we go on vacation. As long as you make your payments and draw no interest you can make some money off the credit card companies.

 

Excellent point. I use my business VISA card religiously, but pay it off each month. We also use the cash back money for "fun" things.:thumb: