This evil thing called the CREDIT CARD
@mihama_poohbear (449)
Philippines
July 24, 2010 3:51am CST
I really hate credit cards. They're the root of all evil in this house.
Just this morning, my parents got into a fight when my dad saw mg mom's credit card bills. Apparently, my mom has just been paying the minimum amount due since she could not yet afford to pay it in full. My dad was angry because of the looming interest added up each month. He scolded my mom for not managing her finances properly. It was like a civil war in the house!
When things cooled down, I explained to my mom the evils of the credit card. Since I took up Econ and Accounting subjects in college, I was forewarned about this. My mom didn't know that the bank still charges an interest based on the principal amount and not on the balance yet to be paid. That was the reason for her ballooning credit card bills. In the end, I managed to convinced her to shred her credit card.
Now, we need to earn money to pay those bills.
3 responses
@masakristo (5)
•
21 Aug 10
i do hate that stuff also. it just gives me a pain in the neck. it makes expensive looks so affordable. i cant imagine how my sister became so debt-related everytime she holds her C-card. using credit card, the world is at your hands, but hell lies at the end....then i began to think if im going to curse the one who created it hahaha well im just kidding. it will always be depend upon the users.
@mihama_poohbear (449)
• Philippines
26 Aug 10
Yeah it depends on the user but it's better to destroy the root of the temptation to get it over and done with. I won't ever get a credit card for myself ever. Unless maybe if I'm really sure that I can already handle it properly and it becomes absolutely necessary.
@astreadido (608)
• Philippines
24 Jul 10
Credit cards are really tempting object, a shopaholics main tool. It teases you to buy and buy until your debt becomes to much to handle. Yes, they are handy especially on emergencies but it requires control and good finance management to handle well.
@mihama_poohbear (449)
• Philippines
25 Jul 10
True. My dad is someone who has great control and financial management. He's had his credit card for years but he has never had any trouble with it. He is very meticulous when it comes to paying the bills in full at the end of the month and he even keeps all the receipts of the purchases he mads so that he can check it with the monthly bill to make sure that there is no discrepancy. As head of the family, I think it is enough that he has a credit card. Good thing I convinced my mom to shred hers.
@elvismoraes19 (305)
• India
24 Jul 10
Hi mihama i hate credit cards too. Credit cards charge a lot of interest than the bank loan.
@mihama_poohbear (449)
• Philippines
25 Jul 10
Oh. I didn't know that credit cards charge more interest than bank loans. maybe because applying for a loan takes more time than swiping the credit card. Anyway, I have resolved within myself and promised to myself that I would never get a credit card or apply for a loan unless absolutely necessary.
