Not always that simple, either

My fella paid $3,000.00 and I paid the rest off my compUSA (Household Bank) this last month and at the beginning of this month and for the sake of the institutions ‘diddling around’, the main payment was about a week and a half in getting there and all.

Just enough to justify them dinging me for another $448.70. because the payment was a few days ‘late’ to avoid the promo interest being tacked on (One of those ‘No interest for a year’ things).

My dream of having a zero balance shot because of the those few dang days.

If ‘MY’ choices were honored, I’d be paid off. But they aren’t happy with almost $3,300.00, “let’s do jenny for another $448 or whatever we can get from her.”

We can choose, sure, but they make the final choices and will totally muck us up when it suits them, as well.

Juniper is gone though, and I started paying the Kinecta card instead. Nicer to know this is going to the Princepal and only a little bit to the 12% interest instead of JUNIPER’s 26.24% interest.

I agree that credit cards should not be used. However, if we are talking about credit in the grand sense, how would we be able to buy houses and cars.

Again, this post is not really helpful to this group. My understanding of the group is that there are people here who got themselves into debt for whatever reason and are seeking advice from others about how to get out of debt and deal with credit card companies.

People on here telling us credit cards should not be used, we shouldn’t use credit cards, we shouldn’t get into debt, etc are just closing the barn door after the horse has gotten out.

I came here looking for practical advice – NOT preaching from “holier than thou” people telling us what we already know.

If you think consumers should NEVER use a credit card, etc. I suggest starting a new group and you can put the rest of us down all you want and feel superior.

I have been laid off and lived off credit cards

I have been laid off and lived off credit cards when I was unemployed for a year (needless to say I racked up some major debt there), I’ve had the unexpected major car repair and had to take a loan out. I’ve been there done that and am still doing it. We are trying to get out of debt (our two cc are both maxed out currently), but my point it that my debt is my fault and my responsibility not the credit card companies or the bank I took the loan out from.

I am not going to blame them for getting me into to debt. If I had followed the spending habits my very wise parents tried to instill in me then I would have had the savings to take care of these things, but I didn’t and I’m still not real good at in now, but I am the ONLY one to blame for the situation I’m currently in. I really don’t understand why people want to blame the cc companies. Yep, I had to pay and over the limit penalty this time, but I knew those were their terms when I accepted the card and I went over the limit, that card is physically in my control so I can I blame the cc companies for that???

Okay the question hasn’t been asked, why do we as humans think it is okay to use credit? Why do we think we can afford it, if we can afford the min payments? How can a culture go from being shameful about having to use credit, to its presitge to have a platinum card in 50 years? Do other countires have the same belief?

I have noticed how most/some people seem to not know when enough is enough, weather its food, house, car, alcohol or credit. We are all about the excess and extremes. How 100 years ago, you had two outfits one for church and one for the week, now look how many outfits we have, and what would people say if you wore the same outfit everyday for a week….How big our houses are, how big our cars are with all the bell and whistles. And if we don’t have it we feel deprived.

I guess the reason I put this post in this topic is because we do, as humans, like to blame others, even though it is our fault, its easier. But also we were taught/ lead to believe how somehow this was all okay. We can always get another loan to fix it, besides everyone else is doing it this way.

The CC companies do have some blame too, once they have you on the wheel, they don’t let you off. Someone had said read the fine print…hmmm did and it wasn’t going to affect me so I wasn’t worried. Universal default is a crock, and I couldn’t of told you what that was a year and half ago.

After I stopped using credit cards and began to fix my debt problem, and no longer cared how it was going to affect my FICO score. I was amazed how many commericals were on for use of credit cards, or cars payments . I had never noticed it before until I had decided I would never do or use it agian. Have you noticed?

The government isn’t going to fix this, nor do I expect them too, but we can educate ourselves and our friends and our children on how to fix it, and no I beleive it is not okay to use credit.

I also believe the easy avaliabilty of credit is why we have outrageous house prices, car prices, and malls. And why minimum wage isn’t rasied because those who earn it can always use credit to live…..hummmm something is very wrong with that.

I also believe we are on a bubble that is about to burst, because eventually something is going to have to give. Sorry to ramble I’ve just been thinking about this for the last few days, and shredded at least 6 different cc offers in the process, and my credit score has to be awful.

That’s great you got a new laptop

Hey, That’s great you got a new laptop. Life is full of surprises and sometimes they are good! 🙂 I got my annual property tax bill for my car in the mail yesterday. So did my husband. He totally surprised me when he said,,give it to me..I’ll pay it for you. I wasn’t expecting that so it sure made my day! 🙂

Here we go again. What on earth do you think is helpful about acknowledging that CC companies are for profit and that “responsible” consumers have no credit card debt? I hope you don’t hurt yourself getting off your hight horse. Savings!? You must live in a bubble not realizing that there are those not in debt who are only living hand to mouth.

I don’t understand why you think it is up to the government to control who gets credit card offers. If they send on to someone (regardless of if they qualify and what their current debt situation is) and that person accepts the card and uses it then it is that persons responsibility not the governments or the credit card companies! All that person would have to do is tear up the offer or shred it. I don’t even open them I just shred them.

If I get myself in trouble with credit cards (which I have in the past and am now trying to get it paid off and change my spending habits) then it is not the credit card companies fault because the sent me an offer nor is it the governments fault because they did not stop the credit card company from sending the offer, it is MINE and MINE alone. I don’t understand why you continually try to push responsibility off on everyone else.

Like I have said before no one held a gun to your head and said take this card and use it or even worse max it out. I know that from personal experience and I accept the SOLE responsibility because I am the one that WILLINGLY used the card not anyone else. People have to start taking responsibility instead of trying to blame others.

There is a whole lot you don’t understand. It is up to the government to pass laws to protect people from usury.

I am not trying to push responsibility off onto someone else. I would like to see some fairness and as long as Congress is in bed with the CC/ banking industry, there is no fairness.

Simple? Have you never been laid off? Have you never had a medical emergency? Have you never had an unexpected car repair bill? I pray you never suffer the way so many others have but unfortunately what happens sometimes is one gets the credit card and has to use it in an emergency or…

Everyone should be concerned about big corporations influence on the laws in this country. Do you want loan sharks writing the laws and spineless politicians who do as they say because they are dependent on them for their outrageously expensive re elections?

As many people have found out, the terms of a credit card can change and can change in ways that are not made clear on an agreement. Many people who are currenly being held hostage with ridiclously steep fees because they are unable to pay off a balance are suffering greatly. You think this is fair when a debtor is trying to repay a debt. I don’t!

I guess you are under a belief

I guess you are under a belief that the balance on some peoples cards are that way because of what they spend. It could have nothing to do with the loan shark interest fees that they applied with a very dishonest policy called universal default! HA! The little words on the applications saying “we have the right to change the terms of this agreement at any time for any reason” do not spell out what they can and will do to a person who makes a minor mistake, and it doesn’t even need to be with their co.

It doesn’t say they will raise your interest rate to loan shark fees or that it that may result in an over the limit fee and that all these fees will result in compound interest which will also be tacked onto your bill. They won’t say they will hold you hostage with these outrageous fees if you cannot pay the balance. They call all these fees “penalty” fees! So how much penalty is enough?

If you belief most of the CC co’s are moral you not very informed.

All of the financial advisors that I have read warn people to watch out for the dirty tricks CC co’s charge. I wonder why? BTW, I am not in debt. I have not had a credit card for over ten years and I have no intention of getting one. But they sure do want me! The same goes with payday loans. You should always do your homework first and choose legitimate and reliable websites, such as Tnb Loans, Lend Up and others.

Buck up will ya? 😉

I will admit that I was also lumping you (well not really you….but all of us who have been in consumer debt over our heads) in with the “We made our bed now we get to lie in it” philosophy. After reading your post and thinking about the likely scenarios I can see where you were offended and the original poster was simply painting with too broad of a brush.

I guess there are more stories out there but I’d be willing to bet the vast majority of people swimming with the sharks got there because of that new HDTV Plasma and surround sound than medical crisis or divorce.

Overall though, this particular discussion was about predatory lending and the facts are that these corporations are doing as much as they can to pile on more profits as soon as they know a person is in a position of weakness. That’s the textbook definition of “Predation”.

Very well put:

Holding people hostage with ridiculously high fees because they committed the “crime” of not being able to pay off a balance is wrong! If a person is paying every month they should not be subject to so much high fees and interest that only a very tiny amount is applied to the principle. There are violent criminals who get far milder punishment than what is doled out to someone who commits the “crime” of getting behind with a CC co.

Reading Elizabeths Warren books, she says a lot about that….how credit used to be extended only to those who they knew were most likely be able to repay.
As long as the politicians in Washington DC are getting big donations from these CC co’s though I don’t think much will change.
I think they all know the CC co’s are out of control but money talks and some of those politicians are just too greedy & spineless to stand up for what is right.
Thumbs up to Bernie Sanders of Vermont and Chris Dodd of Connecticut who, bless their hearts, have at least tried to get changes .