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Sunday, September 26, 2010

Opinions on credit cards?

Hello again blog goers today in this entry I'm going to ask your opinion on credit cards. You see the reason that I'm asking this is because both mt roommate and I have credit cards and we both use them for very different things. You see I use my credit card only for emergencies such as my car suddenly needing expensive repairs where as my roommate uses his credit card to buy things he can't currently afford and pays off the balance when he gets his next paycheck. I think the way he uses his credit card is dangerous and can lead to him racking up a big debt but what dou you guys think?

Also here is a funny video.

49 comments:

  1. I have and use a credit card, but I don't really use it in the two ways you said. I do use it to buy me stuff I want but the difference between me and your roommate I actually can afford it. I guess I treat mine more as a debit card.

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  2. I don't have a credit card.
    I use my debit card for everything because I'm afraid that I'd go overboard spending money I don't have if I owned a credit card.

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  3. I was going to get a credit card but ended up getting a debit w/visa. I felt it was a safer bet because I would have to keep track of the cash I had in the account. Credit cards are a very bad thing if you overcharge...

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  4. I have a debit Mastercard and I hate using it because I hate seeing my balance go down. :( I've used it once so far and it was to send SAT scores.

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  5. I only use my credit card for school books and parking passes and such. I rarely use it for anything other than that

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  6. I only use my credit card because I'm attempting to build up my credit rating, I also have it set to a very, very low limit so that I can't be tempted at a night out at the bar or something :P

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  7. I only use my credit card when buying online, otherwise debit card all the way :P

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  8. You are doing the right thing, I don't think people should get credit cards, they are like loan sharks! Well the system says you have to have credit to move on in life... so you kinda have to get them. And if someone does what your friend is doing, they are going to slowly rack up debt and screw himself over.

    save up for the crap you don't need... the plus side, in the process of saving you will learn you don't need it and in turn don't want it. So now you have money to spend on other things.

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  9. Your roommate doesn't understand the purpose of a CC. ;)

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  10. Well, he's using his credit card the way the credit card company wants him too. Which is not a good thing.

    Is that lady in the video a man?

    "Everyone is better than you" rofl

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  11. credit cards=shit you want today for tommorows earnings(plus a lil extra)

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  12. The way you use the credit card is the way it should be used. If used otherwise, it will accumulate a high amount of debt for irresponsible users. You've got the right idea, bro. Pat yourself on the back for being responsible.

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  13. haha, nice video.

    As far as credit cards, they give you a feeling like you're not really using money. It's just a card, like you can get whatever you want. People need to be careful with em.

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  14. I personally don't own a credit card and don't plan to apply for one. I live modestly and have no need for it

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  15. I use my credit card just for school-related things.

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  16. I've never had one. Sucks because my credit score is like non existent...but i have lot of friends in their early 20's with thousands in credit card debt. I don't envy them...

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  17. I like my credit card, being young im just establishing credit, and with a job im able to pay it off yahoo!

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  18. cool post dude, keep the work up!

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  19. I agree, I stay away from those things. Try not to spend money that I don't have...

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  20. I don't have a credit card at the moment, but I do use a debit card for convenience.

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  21. have one, but never overspend my account, overspending is why people got fcuked over in the last crisis!

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  22. get a credit card with points and pay it off every month, american express is the shit

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  23. looking forward to the next update...

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  24. Like most people have said I've stayed away from credit and just use debit. I know that if I had a credit card I'd end up buying things I wouldn't normally just because I could.

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  25. Credit cards are best used when you spend within your means (never when you can't afford something)
    I prefer using them over debit cards because you don't get stupid bank fees when you use it, and I prefer it over cash because you get a papertrail and know where all your spending is. Credit cards are soliiiiiiiiiiiid.

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  26. yeah, your way of going it about is smarter, I think

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  27. I like using credit cards for online purchases and expensive things, but for small/medium purchases I only use cash

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  28. Your friend is going to have a lot of debt. You're doing the smart thing by controlling your credit card usage.

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  29. In my country you have to have 500$ minimum on a credit card. my income is 0$ I hate credit cards.

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  30. i have always refused to get a credit card. they are bad news.

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  31. What Beatrice said, I use my debit card. Don't trust myself with Credit! :x

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  32. good advice above...just got a credit card myself

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  33. Ugh, I used mine to start playing Magic the Gathering Online... I don't want to be reminded.

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  34. Credit cards are great if you can pay them off every month. Only use them for daily purchases e.g. gas, groceries, etc. Don't use credit cards if your already in debt and just want to use it to get things when you have no money.

    Building credit is quite important, i'll probably discuss the merits and pitfalls sooner or later in my financial blog, check it out =)

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  35. credit cards are the devils and reason for US wealth at the same time xD

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  36. i would love to get a credit card to help build my credit, but i don't trust myself with one

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  37. It should go without saying, but one should never use a credit card as a way of living beyond one's means. It's fine for online purchases and whatnot, but it's very important not to let oneself grow dependent on plastic to sustain a standard of living.

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  38. No credit cards for me, broke college student.

    And also I fucking love Whitest kids you know!

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  39. I've never had a credit card, in fact I hate the whole concept but I recognize it's necessary. I just never really had the need to have one either. Oh well. I guess it'll be fun down the line when I want to buy a car.

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  40. I dont like credit cards. Debt sucks bro.

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