| How do credit card help you to stay out of debt? |
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lynda
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| How do credit card help you to stay out of debt? |
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Hi to all,
need advice........? how credit card helps to get out of debt...?
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Wed Nov 24, 2010 11:51 am |
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C9Consulting
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That question seems a bit counter-intuitive don't you think? A credit card gets you into debt since it's using someone else's money.
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Wed Nov 24, 2010 5:24 pm |
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Roksana
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We have all become very used to buying whatever we want when we want it but this has led us into difficult with debt and credit cards so the question now is, "How To Stay Out Of Debt".
Money is a simple idea. If I have money I can give some to you in exchange for the goods that I want and you can go spend that money on something else. Where it all begins to get complicated is when I want something from you now but I do not have enough money to pay you. This is why loans and debts came about.
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Wed Dec 08, 2010 3:21 am |
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josht
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I guess the only answer is, if you use credit cards, and pay off the balance, and that helps you build credit, and that then helps you get a better rate on a home mortgage or a car loan, then I guess a credit card can help you get LESS debt.
But that's the only way I could spin it. Other than that I don't know why you are posing this question.
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Mon Dec 27, 2010 7:32 am |
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financegenie
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Credit cards cannot help you stay out of debt. On the contrary, in most cases, it is the improper use of credit cards that causes serious debt. Therefore careful credit card use only can prevent you from getting into in debt. Try to pay cash whenever you can, and avoid using the credit card.
Thanks
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Wed Dec 29, 2010 6:29 am |
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wystanfi
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More use of credit card get you into debt. So if you want to keep away from the debt than don't use your credit card in any purpose. Just put your credit card in a locker.
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Wed Jan 12, 2011 1:02 pm |
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Spencer01
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| How credit cards help you |
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JoshT actually nailed it. Having credit cards and managing them properly will certainly help your credit score, which in turn makes things like auto and home loans cheaper.
The key is responsibility. Having credit cards doesnt mean having credit card debt. Use them once a month for very small purchases e.g. gas, lunch etc.
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Mon Feb 21, 2011 9:09 pm |
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MrPolarZero
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The thing is, you are still in debt wh4en having a credit card. But I think the best thing that can be gain from having a credit card is being able to control your spending.
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Tue Feb 22, 2011 4:41 am |
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photon2157
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The only thing I can think of here is a debit card, which can also be used as a credit card. It helps you out of debt because since you are essentially spending your own money (ie. not the bank's money), you are more conscious on what you can actually afford. This is the biggest influence in avoiding debt while still being able to enjoy the benefits of transacting with a credit card.
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Wed Mar 02, 2011 10:53 pm |
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littleroc02us
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| Re: How do credit card help you to stay out of debt? |
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quote:
Originally posted by lynda
Hi to all,
need advice........? how credit card helps to get out of debt...?
They don't! Think about it this way, if you have debt and you use a credit card to go further in debt how is that a good idea? Work is the only solution. I remember when I was laid off I did home computer support and telephony service. When I was even younger I would drive my parents lawn mower down the street and mow lawns. Don't fall into the credit card trap.
“If you want to stay in debt forever, keep borrowing money.”
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Thu Mar 17, 2011 4:02 pm |
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mike95910
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quote:
Originally posted by buziness2011
Thats why it is called credit card because you will use the card as credit, which means you are making a loan.
LOL thank you i was just about to say the same thing. Credit cards are a way of making debt, even if you pay it off every month, you are still accruing the debt for a short period of time...
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Fri Mar 18, 2011 2:50 pm |
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stepbystep2
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Credit card companies are all deceitful liars. They are debt instrument and are not instrument for wealth, There is good debt and bad debt. Examples of good debt would be your house, your car, stuff of that nature. Examples of bad debt is credit cards period. You should keep a credit card around for emergencies. Do not finance your lifestyle with credit cards or you will be paying $50 for something that cost you $5. Hope that could help in some way.
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Tue Mar 22, 2011 1:21 am |
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Jerry333
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quote:
Originally posted by buziness2011
Thats why it is called credit card because you will use the card as credit, which means you are making a loan.
Nice post, easy but important point.
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Tue Aug 23, 2011 3:04 pm |
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