Do you agree that the problem with credit cards is people who use them wrong?

I use to be one of those people who charged up more than I could pay. Then when I was 25 I wised up, and payed off every last one of them by the time I was 28. I now live debt free, and plan to stay that way forever! Like Dave Ramsey says: Debt is dumb, and cash is king! I sleep better knowing that I am not a slave to the credit card companies. When you pay with only the cash that you have in your account, you tend to make smarter purchases, and always look for discounts.

I hate credit cards, because they give us the happiness that we can buy something, that we need, but at end we have to pay much more than we paid with the credit card for the product. I can't save money, that's sure for me, because i've tried. And i always need something and need something and pay something with the saved money so nothing is saved at the end. Once i had credit card and it was so great feeling. I had job, where i received my salary every month and even if i bought something with the credit card i could pay little amount every month, instead of the big sum, but finally, when i lost my job it started to be more and more hard. That's when i decided to say no to this credit stuff. It's life on credit, if you ask me. Nobody deserve it and i hope that one day all banks on the world will disappear and we will live free and happy. Fake life with the fake feeling that we have money, which we doesn't own - blah.

There is no problem actually when we use our credit cards wisely. So far, I have been using one credit card only and it is hassle free. Just make sure that you will not go beyond your limit.

I do have to agree with you. I do think that, if the card holder can't control it, then it can certainly be a problem. Credit cards can be a problem for some people, who have problems with money, spending, and such. It's somewhat sad, when this happens. But it does happen unfortunately.

No, I disagree. The problem with credit cards is that they exist. It's like having a "booky." or a "legalized monster!" I used a credit card, when I no longer had a job to pay for the upkeep of my home. I used it to pay my electric bill, my phone bill, etc...It was not wrong for me to want to live. I did not want to borrow money from my family, and the mortgage company refused to lower my payments or even let me make a fraction of a payment. I believe the credit card companies need stricter rules and regulations. I don't have looming debt because of the credit card, but I do have debt that was incurred on trying to "make it work!"

I couldn't agree more. That is why I'm using a Debit Card rather than credit card. Yeah people get sucked down when they used credit cards. Practically here in the Philippines people go bankrupt or they get so much bills to many banks. My dad was my example. Hate to say it but yeah he used so much cards and invested on something and for sometime BILLS are piling up. So as Ive learned from him.. I ain't getting one for sure. Borrowing money over time has its price you know.

i can't agree more with you... that's why people say that credit card can both become a friend and an enemy as well at the same time... a friend if you know how to use it wisely and an enemy if you can't exercise self-control and keep on spending and spending without knowing your ability to pay back... that's when you will end up in debt... take care and have a nice day...

Hi Megamatt, I agree with you. Most people see credit card as free money, that is why they spend without thinking twice. if they have given time to think carefully, they will not spend as freely as ever. I think we must have balanced viewpoint towards debt. It is impossible to be debt free as long as we have mortgage and car loan to pay off. At the same time, we must not incur more debt due to our desire for more material goods.

Credit cards are not a bad idea. there are people who are very successful in their lives when they use credit. When credit is used poorly, thaat is wwhen credit cards can fall into a bad light. not everyone uses their best judgment when credit is available to them.

For me it is good that way so that you are not paid without knowing the thing's are not good in you.

I think there are other issues involved. I will point out only one among them. When you have a Trojan in your PC, you run the risk of having your credit card information stolen from your system. A Trojan is something that can be equipped with programs that will record all they keys you strike. On top of that, it can be programmed to take screenshots at regular intervals. Then the when you connect yourself to internet, that Trojan may send all these sensitive information to the person who programmed it. One morning you may be bombarded with a huge credit card bill where you may find expenditure that you made. Problems with credit cards may occur even if you use them in the right way.

credit cards ajust a simlple way of getting into debt for many people. My ex wife got a load of stuff on the credit card, when we seperated she took the stuff and left me with the bills as the cards were in my name, i have never had any since. I now go by the point of if i can't afford it then i won't get it, it is not worth getting into debt.

I think there is no problem with credit cards. When used right, it will give the user benefits. If used incorrectly, the user will have problems with his/her credit card. A person who uses it right will maximize the benefits of a credit card. A credit card that is used wrongly will give the user debts and high amounts of bills.

I totally agree, because some credit cards even have many benefits but people misuse and abuse the limits and end up in debits that they can not afford to pay. Also, many people get credit cards for the sack of have credit cards which is wrong because the likelihood is that those people are the one that will end up not using them properly

not necessarily while it's true some people are prone to spending spree and have a bad habit like gambling that takes away most of their savings there are also people who have no choice but using loans and credit cards to survive they probably lose jobs, being lied to (by family or someone like) then lose money they've been saving for a logn time etc in my case I do have the choice to not use credit cards, but many people don't so I can't say that credit card owner is the only one to blame

hey matt. Yeah i agree with you that the people who use them and have no means of paying them back is wrong. But i also feel that the stupidly high interest rates on these cards do not help, also that credit cards should not be given out as easily as they are. I have no credit card and have no intention of getting one ever.

I must say I am one of those who cannot use credit cards properly either. Actually I have only one and it is charged almost max now already! Sheesh! I am paying on it and my goal is to pay it off this year. Then I want to use it for something smart - like to publish a book ( more like an investment!)

I so agree with you. Credit cards should only be used in emergencies, like being rushed to the hospital or in buying first aid medications. Unfortunately so, credit card companies make it more tempting for the people to use them more often. I know many people who were blocked by financial institutions because of credit card cancellation or are down with debts because of irresponsible spending. I feel sorry for them.

I agree with you that too many people do not think before getting and using credit cards. It is too easy to spend more than you have. I do not think these companies should be able to charge the interests rates they do, as well as being able to raise those rates whenever they want. If you have gotten into a debt thinking that the interest is one rate, then they raise it by 5%, you will be in big trouble, even if you planned to pay off that debt responsibly by budgeting for your previous interest rate. I only like to use my credit card to keep up a good credit rating; I am not at all comfortable using a credit card unless I have enough money in the bank to pay for it right then.

just one thing for use credit card "wise to use it" most of people who use credit card never pay this attention.. use it without planning, and spend so much only for shopping.. and the impact is pay the bill higher.. and cannot pay it back in the term. after that they will confuse how to pay it... i think, better we do not use if its not important or having something urgent, because if we cannot control it we will spend "less" and pay "more" and make us broke and have much debt on it