PSA: Credit Card Minimum Payments About to DOUBLE
- Thread starter Murpheeee
- Start date
Anyone who only pays the minimum (heck, anyone who doesn't pay it COMPLETELY off by the end of the grace period) on a credit card is any idiot anyway.
you are ignorant.
this may not affect you, but its gonna crunch a heck of a lot of people out there.
bankruptcies may about to double too.....
This would be a Good Thing for most Americans. Short term pain but would encourage long term financial responsibility.
Looking at the long term economy of the nation, I think this is a most excellent thing to happen.
Looking at the long term economy of the nation, I think this is a most excellent thing to happen.
This is why America is in the debt were in. You people actually pay 10%+ interest rates? Are you insane? Nothing that costs you 10%+ in interest is a necessity, or even worthwhile.
Homes you can finance for 30 years, and it's a necessity. Cars you can get 0% interest on if you bargain. But there's no way in bloody hell 10% is acceptable...you end up paying rediculous amounts for crap you didn't even need.
Treat a credit card like cash or else you can easily fall in debt you'll never get out of. Some people are fine living in perpetual debt, and I'm not one of them.
Homes you can finance for 30 years, and it's a necessity. Cars you can get 0% interest on if you bargain. But there's no way in bloody hell 10% is acceptable...you end up paying rediculous amounts for crap you didn't even need.
Treat a credit card like cash or else you can easily fall in debt you'll never get out of. Some people are fine living in perpetual debt, and I'm not one of them.
GTaudiophile
Lifer
- Oct 24, 2000
- 29,767
- 33
- 81
LOL. Simple: Don't let it get out of control in the first place. Discipline? Delayed gratification?
Proud to be debt free with 3 credit cards! (Car paid for with cash too.)
I got a $3K Mastecard bill coming this month! No problemo!
Budmantom
Lifer
- Aug 17, 2002
- 13,103
- 1
- 81
This is big for small businesses that use these cards, and carry a big balance and are barely scraping by to pay bill, payroll, debts, and pay the monthly minimum of a couple say $300, if it doubles to $600, that's a pretty large chunk of change they are going to have to account for...
GTaudiophile
Lifer
- Oct 24, 2000
- 29,767
- 33
- 81
So whose control then? If it's the wife & kids, take their cards away with scissors!
If it's a small business, then I feel for you. But still, budgetary discipline is necessary.
Homerboy
Lifer
- Mar 1, 2000
- 30,890
- 5,001
- 126
did you read my post(s)?
AFter my 2nd child was born I was laid off for ~6months (sure I had odd jobs here and there but nothing of substance)... so I had unemployment coming in that paid the rent and put SOME food on the table... but gas, more food and diapers DO cost money. Only way to pay for those is with CREDIT correct?
Maybe this guy said it better than me.
Hard times? That's what friends and family is for, not digging an impossible ditch.
Wow.. some people need some perspective here. Especially with the economy the way it has been the past few years I'd imagine there'd be more understanding flying around. Sh!t happens, and not everyone is a moron that turns to credit to get them through. You people ride some high friggin horses.
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