Credit cards should be banned.

*Sparkle*_3

yep i agree i'd ban my credit cards because i've abused them but if you know how to use them and are sensible then they can be great.
I do think there should be a limit on how many you can get or in other words there should be a "better" credit limit system,so people dont commit themselves to,too much credit and then they cant pay it back!

regards

Mark7799

I love my plastic.

GettingThere wrote:

If you can afford to pay off your cc each month in full, you don't *need* the card. If you can't afford to pay it off in full, then why are you spending money you don't have?


:T

I 'need' the card to avoid having to carry large amounts of cash around with me when I'm shopping.

I 'need' the card to give me a bit more protection when I'm making larger purchases &/or shopping on the internet.

I like to use the cards for bonuses (airmiles, clubcard points, cashback) when I'm spending.

IN_LIKE_EVERYONE_ELSE!

Blimus! It is amazing that such a small piece of plastic can stir such emotion!

dinkylou

I love my plastic.

I love my credit card. Its made me £19 so far this year (up to april)

Even if cards were banned people would still take out loans, use overdrafts or find other ways of borrowing money.

We should be taught how to use them properly as Martin is trying to do.

Thefunkygibbons

It is a shame that the market developed as credit cards

We would have been all better off with just charge cards

Edna_Bucket_2

I love my plastic.

dinkylou wrote:

...We should be taught how to use them properly as Martin is trying to do.

Hope he succeeds

bank_of_slate

After my previous credit card (which I'm still paying for!)
I'd rather rip of my arm and beat myself with the soggy end than get another one!
...Linda xx

Edna_Bucket_2

I love my plastic.

keanoman wrote:

The best book I have read on getting out of debt so far by Jerrold Mundis "How to get out of debt, stay out of debt and live a prosperous life" - simple little book, and it will save your life. I feel bad plugging a book on MSE other than Money Diet, but I think it is a different book for a different type of person...

Good suggestion for people - not heard of that one.

You shouldn't "feel bad" at all though - this is an open public forum and different shades of opinion are welcomed thankfully - as long as they are made politely.

Besides the Money Diet gets plenty enough shameless plugging from the past master!

calleyw

Why should something be banned just because some are not able to handle them.

Some of us can and I never charge more than I can pay off in one month. Makes the cash flow easier for me. And as I write down all my spends in a book and a spreadsheet so I know what I have and when.

To me saying ban credit cards is rather like saying lets ban alcohol because a few people can't handle it and go out every friday and saturday night and cause trouble. Or lets ban cars because people get killed in accidents.

Makes no sense. And yes I was once in debt to the tune of £1800 not a lot but way to much for me. It was £800 on a overdraft and £1000 on a credit card. I could see what happens if you don't pay off much more than the min payment. it can become catch 22.

Yours


Calley

Entrepreneur_en_faillite

Credit cards are a bad thing.

All Credit is bad - for the unaware or uninitiated.

We live in a society hell bent on profit, and if making that profit involves selling mankind down the finncial river then so be it. I have just been to see a client of mine who has several credit cards. The cheapest interest rate he is payng is 19.2%APR withBarclaycard, not because he is a 'bad risk' but simply because he is unware of what is availbale - is that fair?

credit cards are evil
credit cards are evil
credit cards are evil
credit cards are evil