Are credit cards evil?

[Anguille]

Like a gun, it depends on who's using it. Are the terms grossly written in favor of the companies? Yes. Does that make the companies evil? No. Are there some practices they employ that are bad for consumers? of course. So exercise your right to cut them up or transfer balances.

And exercise your right to lobby law makers to regulate credit card use. Is it fair that credit card companies can jack up people's interest rates to any amount they want and even add on retroactive interest at any time they want?

Credit used wisely and offered under fair conditions is necessary for a healthy economy.

Credit card companies are killing the goose that laid their golden egg.

 

[Albert McDonald]

Personally, I think it's the same thing as legalized lone sharking other than the physical breaking the legs part.

What do you think?

After paying off 38k in Credit Card Debt, I have come to the conclusion that they are not evil, they are just too easy to get, use, and justify. I was ignorant, immature, and impatient. Never Again!

 

[Samson]

Like a gun, it depends on who's using it. Are the terms grossly written in favor of the companies? Yes. Does that make the companies evil? No. Are there some practices they employ that are bad for consumers? of course. So exercise your right to cut them up or transfer balances.

And exercise your right to lobby law makers to regulate credit card use. Is it fair that credit card companies can jack up people's interest rates to any amount they want and even add on retroactive interest at any time they want?

Credit used wisely and offered under fair conditions is necessary for a healthy economy.

Credit card companies are killing the goose that laid their golden egg.

"Regulate Credit Card Use?"



I'm gonna sic Navy1960 on you for suggesting that 18 year olds might be too young to apply for credit, but old enough to check the gas cap on a F/A-18 Super Hornet.

 

[☭proletarian☭]

Are credit cards evil?

Only the ones I got from the Voodoo priestess down the street

 

[xsited1]

Personally, I think it's the same thing as legalized lone sharking other than the physical breaking the legs part.

What do you think?

Credit cards are great!

Just off the top of my head:

1. I rarely have to carry cash.
2. I get a monthly statement with an itemized list of the charges. (Great at tax time!)
3. If someone steals my card, I don't have to pay for any of the charges.
4. I get money back, so I actually make money using my credit card. (Examples are Capital One and Discover.)

Obviously, you have to pay the balance off at the end of the month. You do that and you get a no-interest loan for up to 30 days. Can't beat that!