When credit cards put you in jeopardy

[blessednxs65]

http://www.cnn.com/2008/LIVING/personal/02/22/financial.security/index.html

 

[daniyal]

Interesting story I thinks its more of a global trend rather than some thing limited to the US. People every where have become so used to their credit cards that its almost become an alternative cash source for them. One of the reason I've stopped purchasing my cigars using a CC from now on all boxes will be bought on hard cash!

 

[oneaday]

One of the reason I've stopped purchasing my cigars using a CC from now on all boxes will be bought on hard cash!

Don't forget IMOs

 

[Clinton]

The title of that report is indicative of our culture of victimhood. How about:

"When you use credit cards irresponsibly"

 

[dpricenator]

The title of that report is indicative of our culture of victimhood. How about:

"When you use credit cards irresponsibly"

Yep, I talk to these people all the time. Idiots, some lady I talked to this morning has racked up 35K in credit card ebt in the last 6 months and her husband doesn't know.

 

[Clinton]

35K, WTF! I get kind of antsy if one of mine gets into four figures.

 

[Wasch_24]

Yep, I talk to these people all the time. Idiots, some lady I talked to this morning has racked up 35K in credit card ebt in the last 6 months and her husband doesn't know.

Oh man, I would end up in jail after learning of something like that.


Ouch.

 

[dpricenator]

Man we see folks upwards of 100k everyday. some just had business that fail and some just can't figure out how it got that bad. The worst are Bi-polar or manic women. Spending sprees are part of the condition and they go nuts at the mall. I've seen 50 k on just store cards, like macy's JC Penny and on annd on.

 

[Clinton]

Store cards are the worst. Typically > 20% APR. I had a Lowe's card for when they have those spend $299 with no interest for 6 months. When I got a notice in the mail saying they were increasing the rate to 22.99%, I dropped it on principle. You can get better terms from Joey over on the North Side.

 

[cvm4]

If you listen to Dave Ramsey, these people come on the talk show all the time. Man it's hard to listen to but it's like the crash on the side of the road, ya just gotta look.