Over the years I have been sent so many offers from credit card companies. Some letters say that I am pre-approved. They don't seem to care if you have enough income to pay the debt from borrowing from them. I was once preapproved for $15,000. I stated that my income was only $20,000 per year, but that did not matter. I ended up using that credit to buy things when I got laid off of work. It was just too tempting when I was broke. I was in trouble with the cards because the interest alone would only cover the minimum payment. I ended up going to a bank and getting a loan. I paid all the credit cards with the loan. I cut all the cards up and didn't have a credit card for years. It took me years to pay off the bank loan. Since then credit cards still send me letters wanting me get a card. I think the credit card companies are pushing these darn cards down our throats. What do you think?
I agree with you. I think that credit card companies are pushy and people don't tend to realize that they are being taken advantage of as cardholders. My husband and myself got into some trouble with credit cards in the past and that stank. We've since gone through a debt management plan and paid off all of our credit cards and neither of us have a desire to own a credit card again.
Credit card companies are pushy and they do charge lots of fees, but ultimately people choose to use credit cards. I have credit card debt and I only have myself to blame. As a single mother who got my own place 6 months ago, my credit card helped me buy beds and get the utilities turned on. Now I'm paying interest on those beds, but it's my responsibility and I don't blame the credit card company.
I will not blame the credit card companies for exploiting personal flaws. Most of the money made by the richest people in the world is made on the backs of those that would be scammed. A failure to take personal responsibility for controlling one's spending is to blame. Falling prey to "want" rather than "need" and being impatient are the things that create personal debt. As a teacher, I will take ownership on behalf of the school system for part of the problem. There is typically no education in place to teach people how credit works before they get themselves into trouble.
I blame the individuals for going into debt not the card companies. People with credit cards tend to way overspend because they have a card and don't have to pay it off every month if they don't want to. People must learn money responsibility before getting a credit card. No mercy should be on anyone that has a credit card and in debt. They done it to themselves.
I never had a credit card and I will never get one ever. My husband has one and he tends to think of using his credit card when we don't have enough money but I kept telling him to never tried and do it. It's better to live with just enough things than going into debt just for better living. I understand that having credit cards increase the temptation of getting more than what we need but at the end of the day, the company must not be blamed. We have all the powers to be in control of what we want to do, so it goes the same for having credit cards.
Credit card companies KNOW very well the weakness of people. Thus they exploit that to the core in the guise of 'privilege' by giving you higher credit limits. So is it really the cardholder's fault that they are in huge debt? Partly yes. BUT if the temptation was not offered in the first place, will the cardholder even overspend? Society itself encourages people to be in debt. Credit standing as a plus? That is what they want us to believe. We got rid of our credit cards 7 years ago and paid off our balance. We never looked back to getting another credit card ever. Debit card all the way for us now and we are living debt free!
No i don't think so,We can go through our own plans which finally works for us and having some appropriate outcome from it is finally what we need and help us so yeah this is the way for it and at the same time learning from it helps us in a certain way because at the end it leads to the betterment.
No not at all. People have the choice to say no and not apply for the card. Yes I do think credit card companies send out a ton of offers, I probably receive at least three a day, but I shred them. People need to take responsibility for their spending, read the fine print and know their spending tendencies so they can manage them accordingly.
Where to begin with who;s fault it is? Credit card companies love those down on their luck. WE choose whether to dive into that or not. Sometimes people feel backed into a corner with everyone breathing down their necks for money, so they give in. That's another big reason credit card companies are there. There will always be vultures.. the poor are very profitable. Or do we blame schools for not properly educating kids in this area? Or the parents who are first on the list? In the end, I think we all know better, but we do what we can to keep the vultures fed. It's a group effort.
Credit card companies don't force people to go into debt, but I will say that they add to the debt. Late fees and over limit fees multiply very quickly, so if you're late once, you can find yourself getting into a deep financial hole where the fees are adding up more than you're paying every month. That was how my ex lost his credit card and destroyed his credit.
