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Why Use Credit Cards?
littleowl
Posts: 594 Forumite
in Credit cards
Time was when our parents budgeted for spending and did not need credit cards - in fact they did not exist. So, why is it that these days so many of us cannot seem to manage without credit cards?
We justify their use by saying they allow us to make purchases we need (sic) and we can pay off the balance at the end of the month and incur no interest. OK - but how many people just pay the basic amount and proceed to rack up higher and higher credit without a hope of ever repaying it? That temptation is always there. There come along difficult months with unexpected expenses and just paying the basic amount helps us to get by.
I fervently believe that this whole cycle of debt, interest charges, and repayments can be solved by an abrupt change of thinking. If we go back to the era of saving to spend; of not taking the easy way of buying on credit, we would be a healthier nation. Perhaps the present economic meltdown will force us into it and I believe that would be a good thing.
Many years ago I ran a business and used credit cards. I was forever juggling the figures and deciding what and how to pay for my commitmnets and I was not a happy person.
Many years later and I would not take out a credit card if I was begged to do so - and how the banks do that, in every other post there have been the temptations to take this or that card, to buy this or that totally unnecessary object that I can well live without. It is significant that in these recent times unsolicited mailings of this sort have almost ceased to exist.
I lived in France for some years and there credit cards are almost non-existent. I fervently believe that we would be a far happier nation if that were true here. Because of that ethos France is feeling the heat of the economic downturn to a lesser extent than we are in the UK.
While the present, and worsening, extent of financial meltdown will affect us all it will, in the end perhaps herald a change for the better. It might make us realise that living on credit is not living at all. That we don't need the consumer objects that every television advert tells us we either cannot live without or that will make out lives in some way better and more fulfilling.
We have to stop being attached to credit, stop thinking that somehow we owe it to ourselves to have the latest television, car, kitchen or whatever. We don't. We don't need these things and the sooner we realise that the sooner we escape the clutches of the greedy bankers who rely on our own greed to fund their excessive life styles.
We justify their use by saying they allow us to make purchases we need (sic) and we can pay off the balance at the end of the month and incur no interest. OK - but how many people just pay the basic amount and proceed to rack up higher and higher credit without a hope of ever repaying it? That temptation is always there. There come along difficult months with unexpected expenses and just paying the basic amount helps us to get by.
I fervently believe that this whole cycle of debt, interest charges, and repayments can be solved by an abrupt change of thinking. If we go back to the era of saving to spend; of not taking the easy way of buying on credit, we would be a healthier nation. Perhaps the present economic meltdown will force us into it and I believe that would be a good thing.
Many years ago I ran a business and used credit cards. I was forever juggling the figures and deciding what and how to pay for my commitmnets and I was not a happy person.
Many years later and I would not take out a credit card if I was begged to do so - and how the banks do that, in every other post there have been the temptations to take this or that card, to buy this or that totally unnecessary object that I can well live without. It is significant that in these recent times unsolicited mailings of this sort have almost ceased to exist.
I lived in France for some years and there credit cards are almost non-existent. I fervently believe that we would be a far happier nation if that were true here. Because of that ethos France is feeling the heat of the economic downturn to a lesser extent than we are in the UK.
While the present, and worsening, extent of financial meltdown will affect us all it will, in the end perhaps herald a change for the better. It might make us realise that living on credit is not living at all. That we don't need the consumer objects that every television advert tells us we either cannot live without or that will make out lives in some way better and more fulfilling.
We have to stop being attached to credit, stop thinking that somehow we owe it to ourselves to have the latest television, car, kitchen or whatever. We don't. We don't need these things and the sooner we realise that the sooner we escape the clutches of the greedy bankers who rely on our own greed to fund their excessive life styles.
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Comments
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tl:dr
I use my credit cards for purchase protection and to help me budget. I always pay off in full each month by direct debit.
PS I wish there was a 'no thanks' button!!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Convenience?0
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Cashback. Why would you not want free cash?0
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But that is still borrowing isn't it? Purchase protection is also offered on debit cards I believe.
I don't expect people to agree with me, how could I in a Britain living on the basis of credit? And 'no thanks' is fine.0 -
Er? like what!?Because it carries unpleasant strings doesn't it?
Amex = 5% cashback for FREEEEEEEE.
Also, purchase protection is not offered on debit, please go and read up on the 'XL' incident. And do some research before you make such ridiculous posts.Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
I like to use mine to spread the cost of a big purchase over two pay days (interest free). As long as you can be sensible and pay off each month they're handy.0
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Stoozing .....0
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well I've never had a credit card and i'm now 35 and have never felt the need for one.....I've seen to many horror stories when people just can't be sensible (and i guess I don't trust myself)
Its like anything else you make one mistake with them and they will bleed you dry.....especially if your stupidIf you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0
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