Should Lolie get a credit card?

[jimmytavino 16]

***
"Credit Cards are the biggest scam going"


Running up huge numbers and then dancing away from your responsibilities,,,
by "declaring bankrupcy"........... THAT's the biggest scam
going........... wouldn't you agree??????
Like everything else in this world...... you can be an adult about it or you can be a child about it...If you get with the "buy now pay later" philosphy.... at least PAY when the time comes......otherwise.... don't BUY
As for Lolie..... If you look at this as a chance to demonstrate financial maturity,, and as a chance to begin to build a GOOD credit history,, then Go ahead....get one,, but begin planning for the pay back,,, even before you get the bill.... and for SURE,,,,,pay MORE ,,, MUCH MORE than the Minimum amount each month.....remember you don't pay ANY interest,,, if you pay your bill in full each month......

[fasterfaller 0]

The credit card system is broken and needs to be fixed . The credit card companies keep increasing limits slowly until the consumer realizes they are in deep shit . I'm sorry , but a person that makes 50k a year does need a 350k credit limit . I do not feel one bit sorry when a credit card company does not get paid . You SHOULD not have a line of credit on credit cards that exceeds your yearly income . The credit card companies are fucking Americans over by making it VERY easy to over extend yourself . It is a trap , plain and simple . I have three credit cards and I do pay them off every month if I even use them . I just want to see the crooked credit card companies put out of the business of putting Americans in a debt situation they can not afford to get out of .

[darkvapor 0]

Sure, the credit card companies are immoral and unethical, especially in the information they give out and educating the public. HOWEVER, what ever happened to personal responsibility? I like having a high limit, it allows to me purchase things that would otherwise be difficult (like buying a whole rig over the internet). Just because they give you the credit doesn't make it their fault that a person maxes out their card. And I think bankruptcy laws SHOULD be very harsh. If people get in over their heads, its their fault, and I don't see a single reason that they should be allowed to just ignore their debts. People used to be sent to jail for being debters, I think we have it rather easy now.

[skybytch 273]

I dunno. I think the c/c companies should have much higher income limits before giving someone a card (imho nobody making $12k/year should have a credit card; I've seen many applications on which that is the minimum income requirement, and I've seen some that have NO minimum income requirement). I think they should also scale credit limits down to an amount that could realistically be paid off within a year or so with only a small percentage of what the cardholder is making in income.

As for personal responsibility - Yes, I freely admit that I'm the one who screwed up by maxing the cards out when I knew I'd never be able to pay them off on the money I was making... I'm just not sure it's ethical for the c/c companies to be allowing people to get in way over their heads and then making the big bucks on the high interest that keeps those people from being able to pay off the debt.

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If people get in over their heads, its their fault, and I don't see a single reason that they should be allowed to just ignore their debts. People used to be sent to jail for being debters, I think we have it rather easy now.

I agree that there are people out there who abuse the bankruptcy laws. But I also know people who fully intended to pay their bills in full when they charged them up and made their payments on time every month - right up until the time that shit happened to them (lost job, major illness, major injury, etc). We do need to have a way for people who, through no fault of their own, can't pay their debts to be able to get out from under them and have a fresh start. If having that means that some people will abuse it... well, I guess I'm okay with that.

[outofit 0]

go for it! if u get in too much hock do like that bitch did on the internet. she went in hock about 20k due to going on shopping sprees and to bring herself out of it she developed a website called savekaryn.com where she solicited nearly 13k by way of the internet to pay her way out.

It is better to be dead and cool than alive and uncool!

[newshooter12 0]

IMHO. Don't do it for the reasons you are considering. I did something similar while in college. Let's just say I could have bought 2-3 loaded rigs for what I've paid and still have to pay. (I graduated 2+ years ago) Live within your means to the best of your ability, beyond that beg and plead with relatives for low/no interest loans. My dad helped my cousin when she asked. If that doesn't work try to take out another subsidized student loan. matt

[fasterfaller 0]

I think bankruptcy laws should be harsh too , but they need to ALSO apply to large corporations and wealthy people as well as middle income individuals equally . Corporations and the rich , get away with murder every day and now they lobby for tougher bankruptcy laws to protect them from us , the consumers , oh boo hoo for them . I have zero compassion for a corporation that will give a person on welfare or a college student with next to zero income a credit card . I WANT to see the credit card companies bankrupted for what they have done to the consumers in this and other countries . I like my high limit credit cards too , but I have the money in the bank to pay the bill at the end of the month . I want the bastards to stop pushing people into debt . Credit card debt is a trap as is welfare , keep people in a situation they can not afford to get out of . Just charge it , after all it's the American way .

[fasterfaller 0]

Lisa , I agree with you that some people abuse bankruptcy laws . I also agree that the c.c. companies should scale limits to incomes . There are a lot of people that get in over their heads over time without realizing it .

[sharpfive 0]

With a name like Arthur Anderson, you can just shred those nasty CC bills when they arrive