Read this article and comment on what the author believes about credit cards. Do you agree? What is your plan?
This article is for May 11th.
Wednesday, May 6, 2009
Credit Cards: Do we Need Them?
Read this article and comment on what the author believes about credit cards. Do you agree? What is your plan?
This article is for May 11th.
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33 comments:
First of all, Chuck Bentley has great logic. I agree with him fully. Credit cards are not a necessity. So many people are in debt because of their credit cards because they have no self control. I have seen families not use their credit cards for a year, and they would end up saving thousands of dollars. It is up to the holder that can control their money and stay out of debt. Families all over the country try so hard to save money by selling their valuable possesions when all they really need to do is stop using their cards. What ever happened to using credit cards only for emergencies?
Too many people rely on their credit cards today. Its ok to use them, but not everytime you want to buy something, that's how people end up in so much debt. People should just stick with paper money, not plastic cards.
I agree with Boyce. People use their credit cards WAY TOO MUCH. They end up not paying the payments and getting behind. With credit cards, people just get in debt. Just use cash! : )
That is one reason why i dont want a credit card, i kno you have to have one to build your credit but i rather just pay for things with cash because its my money.
Credit Cards are very helpful and convenient when used responsibly. Credit card companies have simply seized upon the greed and "pay it off tomorrow" attitude that characterizes American consumers. Sure these companies are avaricious, but they can't be totally blamed.
If the aforementioned mentality cannot be changed by Americans, then credit cards shouldn't be used. If it can however, and we learn to practice prudence and self control then bring on the plastic.
I do not think that anyone should spend money that they don't have. It's a set up for disaster. Many Americans get credit cards and don't think about the future debts it will bring them. Also, with credit cards, interest must be paid, which is wasted money. People should be wise with their money and only use cash or debit.
I do not think we need credit cards. I know that we are suppose to have them to purchase certain things or certain companies make sure you don't purchase their goods with out one but why do we really need them? All they do is cause people to go in debt and some people go into big debt. They ruin people's lives. Now on the other hand I do know people that have them that are smart with them and use only the amount they know they can pay back as soon as possible!!!! If people are going to have them they need to be smart about them!
Spending money that you don't have is what got us in this rut in the first place. To many people, credit cards are ways to buy merchandise without even really paying for it. When I was a little kid, I used to think that when you used a credit card, you got stuff for free. I didn't know you actually had to pay back that money. Well, I grew up and I learned. The problem is, too many people still believe what I did when I was a kid.......
I think credit cards come in handy but you have to make sure that whatever amount you are spending you can end up paying all of it. Like Boyce said, use cash or just make sure you're not spending more than you can handle and pay all of it off when you get the bill.
i think that credit cards are i good and bad thing. The reason i think that it is good because you dont have to carry loose change around. The reason i think its bad is becasue if you loose the card then that is all of your money gone down the dran...
I think credit cards are good and bad. They are good because you can make bigger purchases and pay on them later if you can afford to pay them off which brings me to my next point. They are bad because those certain people who make those large purchases that can't afford them go in debt. I really think that they are not a necessity and we could live without them with no problem, but I personally think, not knowing from experience because I don't have one, that they will come in handy and I will have them for emergencies and other things that they may come in good use for.
..credit cards are used to build up credits but you it could mess your credit up if you are not careful enough. what i really like about it, you dont have to carry all your cash and you have a less chance to lose your money from your pocket
I think Chuck Bentley has a great point when he talks about using them correctly. They are not evil and wrong, it's just that people get greedy and lose sight of why they have it. They do come in handy for last minute needs or emergency situations as long as it's all paid for by the end of the month. I honestly, would NOT trust myself with one right now. I know i would dig myself into a hole that I dont think I'd ever get myself out of. I've somehow already managed such things without even having a credit card. lol. :]
I have always heard you only need one credit card, and thats so you can get your credit established. Any more credit cards are not necessary. People just abuse the power of the credit cards an spend to much that they can afford. I know alot of people that are in serious debt because of credit cards.
Credit cards are or aren't a necessity depending on how you view the situation. On one hand, good credit is essential for loans and can make all the difference if you wish to buy a house or any other expensive item later in life. On the other hand, failing to pay bills and slipping into debt will not only destroy your credit, but you will lose massive sums of money due to hasty and irresponsible spending. In the end, it's all up to the individual whether or not they can handle the task of using a credit card wisely.
I believe that credit cards can be easier rather than using cash. But you just need to be careful with how much you are spending on them because you can get in a lot of trouble if you don't. People are too careless these days and they can get in major financial trouble with credit cards.
Credit cards are really bad for spenders because it can put them in horrible debt. All the money they use with the credit cards don't compare to the money they actually have so they cant pay it off. I know a credit card would be bad for me because i would most definitely over spend and get in a lot of trouble.
Spending and borrowingg money we dont have is how got into the recession!! Chuck has great ideas. Credit cards are not necessary and too many ppl rely on them! I think most people dont realize they eventually have to pay that back, or forget they dont have enough money to! The credit card used to only be used sometimes and for emergencies.
my mom owns a credit card and only uses it every so often so she knows she can pay it off. i dont see the point in using them over and over and building up all of this debt! i agree with chuck that credit cards are not something we NEED and i think people have forgotten that.
I agree with everyone I don't think credit cards are necessary. I think too many people go into debt this way. I think they would be less inclined to spend so much if they actually had to hand over paper money.
I think we need credit cards because some people buy things that cost a lot of money but dont want to carry lots of cash around. Its easier for people to lose cash than a credit card so credit cards are needed.
I think credit cards today are to relied on by people. There are a bunch of people that have credit cards but they do not have enough money. Therefore our country is getting worse because people do not pay off there debt on there cards
i have friends who use credit cards for 3 dollar items. i agree that they should only be used in emergencies. i will personally never have a credit card till i know i need one. plus people dont pay them off and that ruins there credit...
Credit Cards are great and can do you an extreme amount of good if you use them properly, but most Americans do not use them responsibly and commit financial suicide. With that being said, I still think there needs to be something done about the predatory attitude of the credit card companies.
Credit cards should be used as a privilege rather than just debt cards. if people just paid off credit cards as they used them then i wouldn't see a problem with them. most people nowadays just abuse their credit card and dont bother to pay any money on it.
I honestly only believe in the use of credit cards in the case of long distance transactions, such as buying things over ebay. At the same time, you cant expect people to give up their conveniences which they've grown accustomed to. but, it is definitely true that self-control is needed. Too many people put themselves too far in debt due to their lack of responsibility.
Credit cards are a great luxury, but people overuse them way too much. People need to start using cash more because then you will get in less debt, actually no debt. People are poor and have bad credit and all that because they cant pay their credit card bill. They just go crazy, have no self control. I have a debit card, but I'm crazy with it at all. My parents have taught me to manage my money, and I believe everyone should learn. There should be a class about money management as a requirement for graduation.
I think credit cards are convenient, but not really necessary. I mean, cash really isn't that bad, you just have to be careful. Like not being irresponsible about where you leave things, or how you carry things. I guess credit cards are better for big purchases, but not for little stuff.
Chuck Bentley is a smart man. As long as there are people that can use credit cards responsibly they would not have a problem. But when you have the people that think using credit cards makes things free they will have problems. If you cant use a credit card right dont get one.
Credit cards are not nessacary. its leads to dont only great debt but also bad credit, which hurts you in other departments. i believe we should use them more carefully but thats hard to put across when people continuely over spend
I agree with tramzl. I'd much rather just not bother with credit cards..why should I? im going to be rich one day..so no need. although they might be a good idea for some people.
Credit cards are not a necessity and are used way to often. When people don't have money on them they just charge it to their card with out even thinking about it. Convient and no problem... right? Wrong!Intrest rates are absurd and people could save thousands of dollars by not using there cards unless absolutly neccsary. And this could really help out with alot of peoples debut and other bills they have.
Too many people are using their credit cards for dumb reasons. People use their credit cards at all times, and then don't really care about paying it back, so their credit gets all messed up even though credit cards help build up credit.
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