Thank You Obama!

shel90 said:
That's my 5 year plan...to have no credit card balances. I hope nothing goes wrong and sets me back again.
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Don't sign any contracts after you get your credit cards clipped up.

It's how I fell into debts two years ago. Didn't really get back on my feet until like last summer.
 
souggy said:
Don't sign any contracts after you get your credit cards clipped up.

It's how I fell into debts two years ago. Didn't really get back on my feet until like last summer.
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Not going to sign up for any other credit cards...fuck them! Once all of my balances are zero, I wont touch them unless it is an emergency.
 
shel90 said:
Not going to sign up for any other credit cards...fuck them! Once all of my balances are zero, I wont touch them unless it is an emergency.
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I hate it when people ask me to sign up for a credit card and get 10 percent off purchase, I'm like err no thanks.
 
Cheri said:
I hate it when people ask me to sign up for a credit card and get 10 percent off purchase, I'm like err no thanks.
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Give them the bird when they do that. LOL!
 
I've had a credit card since 2002 and I've been debt-free.
 
shel90 said:
Not going to sign up for any other credit cards...fuck them! Once all of my balances are zero, I wont touch them unless it is an emergency.
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I never owned a credit card in my life.

Ended up signing an agreement with a bunch of people for things I didn't need like expensive furnitures, took over a few of my friends' gambling debts and so on. All I did was sign papers that say "souggy must pay this person ______ by the end of the year" or something similar to that.
 
souggy said:
I never owned a credit card in my life.

Ended up signing an agreement with a bunch of people for things I didn't need like expensive furnitures, took over a few of my friends' gambling debts and so on. All I did was sign papers that say "souggy must pay this person ______ by the end of the year" or something similar to that.
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Oh, I never co sign for anyone but my hubby. My best friend did that for her friend for a trip to the Virgin Islands and that friend messed up on her bills so my best friend ended up with the bill for the trip that was never taken.
 
Gah, cosigning is one of the stupidest things people can do. You really have to make sure that person is reliable before cosigning. Even if it's your own kids...
 
Never co-signed either.

:p

Just people don't like having to do things for you if you don't have the money upfront. So they usually make you sign a contract that you have to pay them in full by a certain time.
 
shel90 said:
I wish my parents had taught me the evils of credit cards. I had no understanding of them so when I got my first one at 20 years old with a balance of $5,000, I went crazy buying all kinds of stuff that I didnt need. It took me like 10 years to really understand the implications of getting oneself deep in credit card debt. My parents really never taught me about real life..I had to learn the hard way. Right now I am teaching my daughter all the pros and cons of real life.
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My parents didn't teach me anything about credit cards because it wasn't common for families to use them when I was a kid. My dad had some for business travel but they were limited mostly to restaurants and hotels. Not many businesses accepted all cards in the 50's and 60's. It used to be hard to get a credit card. Now it is too easy, and people get sucked into the credit trap.

I'm glad that you have "seen the light" and are taking the responsible route to pay your debts. That is a major accomplishment, and good example for your kids. Kudos! :P
 
Jiro said:
the interest rate only goes high if you miss the payment - I believe around 25-40%. INSANE!!!
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The interest rates can go up for no reason, too. That's why Obama is regulating those non-sense.
 
Jiro said:
lol they're not greedy but they're merciless. The credit card companies are not forcing you use their cards. It's you who are accruing the debts with credit card and it's your responsibility to make payment on time.

don't blame them for your mess. blame yourself for putting yourself in a bad financial situation and for not educating yourself about credit card's tricky fineprint. don't take it wrong but it's how I see it. That's why some people don't use credit card EVER and they stick with debit card.
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Why don't you become a credit card company and quit your job, si? :D
 
Jiro said:
the interest rate only goes high if you miss the payment - I believe around 25-40%. INSANE!!!
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My boyfriend has had interest go up on his cards and he pays his bills on time.

I think it all depends on the type of interest rate you get. Fixed or variable.

If it's fixed it stays the same. If it's variable it can vary year to year <---(which they take advantage of I'm sure.)

When he calls the credit card company, about the interest, it can take him hours to get to someone because of their stupid call system. :roll:
 
Jiro said:
lol they're not greedy but they're merciless. The credit card companies are not forcing you use their cards. It's you who are accruing the debts with credit card and it's your responsibility to make payment on time.

don't blame them for your mess. blame yourself for putting yourself in a bad financial situation and for not educating yourself about credit card's tricky fineprint. don't take it wrong but it's how I see it. That's why some people don't use credit card EVER and they stick with debit card.
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I agree with you that if it is your mess you deal with it. However, some credit card companies allow you to pay the minimum which can be as low as 30.00 dollars a month. That's not bad.

I don't own a credit card or a debit card. I pay cash, I have a savings account thats it. That's how I keep myself debt free. :D
 
DGirl101 said:
My boyfriend has had interest go up on his cards and he pays his bills on time.

I think it all depends on the type of interest rate you get. Fixed or variable.

If it's fixed it stays the same. If it's variable it can vary year to year <---(which they take advantage of I'm sure.)

When he calls the credit card company, about the interest, it can take him hours to get to someone because of their stupid call system. :roll:
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he'll need to read a very very tiny fineprint :lol:
 
DGirl101 said:
I agree with you that if it is your mess you deal with it. However, some credit card companies allow you to pay the minimum which can be as low as 30.00 dollars a month. That's not bad.

I don't own a credit card or a debit card. I pay cash, I have a savings account thats it. That's how I keep myself debt free. :D
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it is required by law that the minimum payment is, if I remember correctly, 4% of the debt. It used to be 2%.
 
Reba said:
My parents didn't teach me anything about credit cards because it wasn't common for families to use them when I was a kid. My dad had some for business travel but they were limited mostly to restaurants and hotels. Not many businesses accepted all cards in the 50's and 60's. It used to be hard to get a credit card. Now it is too easy, and people get sucked into the credit trap.

I'm glad that you have "seen the light" and are taking the responsible route to pay your debts. That is a major accomplishment, and good example for your kids. Kudos! :P
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Thanks Reba..I just couldnt file for bankrupty so I worked two full time jobs for two years until I had my son.
 
I own 4 credit cards, one is zero interest rate till 2011 then I will cut this one cuz I do not need it while other credit cards, I use them to keep my credit scoring hihger. I sometime use them for dentist and other important stuff but I bought my own camera with my credit card for christmas present to myself but I will paid it off Feb no problem. Only use if you know u can pay it all in one month.

Gottschalk is out of business so I do not know what to do with that card anymore. I will cut it but need to call somewhere to close the account. I used it to buy furtinure with zero rate for one year and I love it.

We simple have to be wise with it.
 
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