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Dave Smith[_1_]

On 2014-10-18 3:36 PM, wrote:

>> BTW "Credit" cards should really be called "Debt" cards, because that's
>> what they are.
>> Graham
>
> That's a sweeping statement! I think I have six or seven credit
> cards and don't owe a penny on any ~
>

It sounds like the words of someone who got himself into credit card
debt. Anyone who uses a credit card to buy something they can't afford
at the time is making a big mistake. If they need a big item but don't
have the money and won't have it by the time the bill comes in, they
would be better off to get a loan or line of credit.

I use my credit card for a newspaper subscription, satellite TV and
phone/internet bills. I also use it when ordering things on line or by
phone. I must be old fashioned. I put my money in the bank and the
monthly income is more than the expenses, so I went up with more and
more each month. When I get enough socked away, I start thinking about
things I can get with it. Too many people buy, buy, buy, putting it all
on their credit cards. Then they end up not being able to afford to buy
anything because their cards are maxed out and they are spending a huge
amount of their income just to pay the outrageous CC interest rates.