How Has the Spending Affected You?

[dfr52]

And that mindset is becoming more and more popular obviously. I'm for personal responsibility, not someone else being responsible for you. If you can't control yourself, why should that be someone else's problem?

I believe in personal responsibility but when it comes to money and drugs temptation can be too much.

[TheTGB]

That's technically not part of the stimulus though...that's the gov "cracking down on shady" credit card practices (ie them doing what they told you they'll do if you're late with a payment).

Eh, you're right. I'm just grouping the whole economy with banks and such since we did bailout the credit card company I use(d). As soon as I pay it off that card won't ever see the light of day again, no more Bank of America for my credit card needs, I got a nice Capital One card now :)

[tutall]

i work for one of the evil giant credit card company so let me give you a little more insight into this thing...

First off it is my job to offer a credit card to my customers. I explain everything to them, explain how it is supposed to be used, explain what will happen if you choose not to follow the rules it states clearly on the application disclosure i hand to them, and explain why CC debt is not good to carry (for many reasons) I also explain if they are not happy with the limit they have call me and i can reduce it or put limits on the credit. When they get the card i always send another letter and let them know i am not trying to put them into debt but making this credit available should they need to use it. Surprisingly, i see many more 30 somethings in bad shape than college kids. I think they are starting to teach this kind of stuff in high school and the young kids are doing just fine. I have one credit card that i use for everything to get points then pay it off. Dont keep a balance and you dont have to worry about the interest rate.

I will say though, one of the things another couple companies are starting (i have gotten several offers in the mail for this) is a great promo on balance transfers to this new card as long as you use it X times per month. In case you didnt know, when you pay a credit card you always pay towards the lowest APR first then work your way up. So in essence when you go for a gimmick like this you are biting yourself in the butt by paying the interest on your purchases.... easiest way to avoid it is to live inside your means and if you dont have cash available wait until you do.


sorry to get off topic but it is really frustrating hearing that argument every day about how i am trying to put people in debt. It IS the individuals fault as no one made them take the card, no one made them use it, and no one made them not pay it.

[dfr52]

i work for one of the evil giant credit card company so let me give you a little more insight into this thing...

First off it is my job to offer a credit card to my customers. I explain everything to them, explain how it is supposed to be used, explain what will happen if you choose not to follow the rules it states clearly on the application disclosure i hand to them, and explain why CC debt is not good to carry (for many reasons) I also explain if they are not happy with the limit they have call me and i can reduce it or put limits on the credit. When they get the card i always send another letter and let them know i am not trying to put them into debt but making this credit available should they need to use it. Surprisingly, i see many more 30 somethings in bad shape than college kids. I think they are starting to teach this kind of stuff in high school and the young kids are doing just fine. I have one credit card that i use for everything to get points then pay it off. Dont keep a balance and you dont have to worry about the interest rate.

I will say though, one of the things another couple companies are starting (i have gotten several offers in the mail for this) is a great promo on balance transfers to this new card as long as you use it X times per month. In case you didnt know, when you pay a credit card you always pay towards the lowest APR first then work your way up. So in essence when you go for a gimmick like this you are biting yourself in the butt by paying the interest on your purchases.... easiest way to avoid it is to live inside your means and if you dont have cash available wait until you do.


sorry to get off topic but it is really frustrating hearing that argument every day about how i am trying to put people in debt. It IS the individuals fault as no one made them take the card, no one made them use it, and no one made them not pay it.

The reps are not to blame but the individuals pushing to extend credit to customers who can't afford it.

Its easy to say live w/ in your means but emergencies and life happen.

Maybe companies shouldn't be offering sneaky gimmicks to lure customers in?

[tutall]

The reps are not to blame but the individuals pushing to extend credit to customers who can't afford it.

credit card companies have a set guideline to who gets one who doesnt... there are credit restrictions, income restrictions, several other factors... it isnt like someone with no income and terrible credit is walking out with a card in hand.

Its easy to say live w/ in your means but emergencies and life happen.

then what happened before credit cards?

Maybe companies shouldn't be offering sneaky gimmicks to lure customers in?

Maybe customers need to stop trying to beat the system and try to not rack up credit card debt....

[shortking98]

The reps are not to blame but the individuals pushing to extend credit to customers who can't afford it.

Its easy to say live w/ in your means but emergencies and life happen.

Maybe companies shouldn't be offering sneaky gimmicks to lure customers in?

Credit card companies are a business, yes they have shady gimmicks etc. but if you are going to use their product then you need to do your research and make a plan. Credit cards aren't there to bail you out for not planning ahead of time or spending too much, they are a business just like anything else. If you don't like them, then don't use them. Sorry to sound harsh but life is tough and you need to do things for yourself instead of trusting advertising gimmicks and then expecting the government to swoop in and save you

[OnePimpTiger]

i work for one of the evil giant credit card company so let me give you a little more insight into this thing...

First off it is my job to offer a credit card to my customers. I explain everything to them, explain how it is supposed to be used, explain what will happen if you choose not to follow the rules it states clearly on the application disclosure i hand to them, and explain why CC debt is not good to carry (for many reasons) I also explain if they are not happy with the limit they have call me and i can reduce it or put limits on the credit. When they get the card i always send another letter and let them know i am not trying to put them into debt but making this credit available should they need to use it. Surprisingly, i see many more 30 somethings in bad shape than college kids. I think they are starting to teach this kind of stuff in high school and the young kids are doing just fine. I have one credit card that i use for everything to get points then pay it off. Dont keep a balance and you dont have to worry about the interest rate.

I will say though, one of the things another couple companies are starting (i have gotten several offers in the mail for this) is a great promo on balance transfers to this new card as long as you use it X times per month. In case you didnt know, when you pay a credit card you always pay towards the lowest APR first then work your way up. So in essence when you go for a gimmick like this you are biting yourself in the butt by paying the interest on your purchases.... easiest way to avoid it is to live inside your means and if you dont have cash available wait until you do.


sorry to get off topic but it is really frustrating hearing that argument every day about how i am trying to put people in debt. It IS the individuals fault as no one made them take the card, no one made them use it, and no one made them not pay it.

Great post.

Its easy to say live w/ in your means but emergencies and life happen.

If you live within your means and save money for emergencies like you're supposed to, you don't need a credit card when emergencies or life happens.

Credit cards aren't there to bail you out for not planning ahead of time or spending too much, they are a business just like anything else... Sorry to sound harsh but life is tough and you need to do things for yourself instead of trusting advertising gimmicks and then expecting the government to swoop in and save you

Exactly right, but that is the mind set of far too many people nowadays.

[dfr52]

credit card companies have a set guideline to who gets one who doesnt... there are credit restrictions, income restrictions, several other factors... it isnt like someone with no income and terrible credit is walking out with a card in hand.

No, but they could reconsider the amt. they make available to consumers.



then what happened before credit cards?

I'm guessing people had to work out repayment plans w/ the companies that provided services.



Maybe customers need to stop trying to beat the system and try to not rack up credit card debt....

I agree people need to act responsibly but as do the credit card companies.

[dfr52]

If you live within your means and save money for emergencies like you're supposed to, you don't need a credit card when emergencies or life happens.

I think this is great advice for individuals w/ high paying jobs who have good amts. of disposable income.

I'm not talking about credit card spending on pools, vacations, and junk like that but illness and emergency house repairs.

[dfr52]

Credit card companies are a business, yes they have shady gimmicks etc. but if you are going to use their product then you need to do your research and make a plan. Credit cards aren't there to bail you out for not planning ahead of time or spending too much, they are a business just like anything else. If you don't like them, then don't use them. Sorry to sound harsh but life is tough and you need to do things for yourself instead of trusting advertising gimmicks and then expecting the government to swoop in and save you

The government shouldn't be there to save consumers but to offer protection.