why no talk about bad parts of CC debt?

[hogrider88]

Cc is like drugs.

Can't use it for good use, dun touch.

just like your dp, same same

 

[fzhfzh]

I use my credit card for points to fly first class. I will never charge an amount to my card I can't pay back in a month. In US, if you make late payment, the interest is a small matter, the bigger hit will be your credit ratings, which will screw you over in a lot of things.

i wish everybody thinks this way.

banks will hate it though..

Banks will actually love it. The extreme high interest rate is meant more as a form of punishment as well as to make up for the percentage who defaults. Most of the money credit card companies earn is from merchant transaction and credit card fees. There are credit cards designed to earn from interest though. Those cards will usually have much lower interest rates but no point rebates.

 

[hyperbole]

i've personally seen many cases of terrible CC debt destroying lives... it's such a scary scene. anybody else got such experience?

Got. Go see the old threads in this forum. Even got siao ppl who think the banks are in the wrong for chasing money. Owe money don't want to pay and still don't think they are wrong.

 

[invisible999]

Owe money don't want to pay and still don't think they are wrong.

Hey, the whole country in Europe thinks this way.

 

[ORELLE]

Hey, the whole country in Europe thinks this way.

siao ang mo

 

[derrickgoh]

What is there to talk about? Credit card debt is like any other kind of debt. You don't get into debt unless you want to get in deep sh*t. Plain & simple.

Spend within your means. If you know you don't have $5,000 in your savings account to pay for that sexy OLED TV then don't buy the bloody TV. Either go by installment (provided its interest free) or buy a cheaper model.

Of course some idiots may say never mind lah sign first, if no money to pay then come and worry. These people are self pwning and IMO do not deserve sympathy.

I half pity and half laugh at people who think its okay to pay the minimum sum and keep rolling over the balance. Don't they realise there is INTEREST charged? Already got no money to pay the original amount then still want to kena charged interest month after month.

 

[invisible999]

If you know you don't have $5,000 in your savings account to pay for that sexy OLED TV then don't buy the bloody TV.

As a person who does not have TV at home last 15 years I really don't get it...