How can't most adults handle a credit card?

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[ARCHIVED THREAD] - How can't most adults handle a credit card?

Posted: 1/12/2006 7:43:53 AM EDT

When ever people mentions credit cards on here, 15 members respond right away and say never get them, there evil and will ruin your life. What the hell is the deal with that. I'm almost 20 and have had one since i am 18. I've never carried a balance from month to month. I always pay my bill on time. I basically charge all my purchuses sinces its easier then carrying cash. Since i run my own business, i sometimes have 6-8k credit card bills. But i always pay them on time. I don't ever run into proablems because i don't buy stupid shit i don't need.

How in the world can adult with college educations, with decent jobs not be responsible to handle a credit card? What the hell.

Posted: 1/12/2006 7:44:29 AM EDT

[#1]

Well, who was trained in how to use them? Seriously.

As a society, and as families, we don't do much to teach people how to handle money, credit, etc....

Posted: 1/12/2006 7:45:08 AM EDT

[#2]

BECAUSE I NEED MORE RECEIVERS!!!!

Posted: 1/12/2006 7:45:39 AM EDT

[#3]

No no no. The Arfcom consensus is that credit cards are evil and must be destroyed. Nobody is iresponsible, its the cards fault.

Posted: 1/12/2006 7:46:42 AM EDT

[#4]

I think most people can and do.....you only hear about the ones who can't.

Judging from the credit scores posted by the Team members of ARFCOM........everyone here does quite well managing their finances.

Posted: 1/12/2006 7:47:16 AM EDT

[#5]

how can't I use propper grammer......

seriously, credit cards are the same as checks, it's free money man, buy now pay maybe.

Posted: 1/12/2006 7:47:26 AM EDT

[#6]

Most people use cards to buy things they don't need and can't afford.

Posted: 1/12/2006 7:47:52 AM EDT

[#7]

Some people are just weaker than other people. They don't have the self control to keep themselves from digging a massive hole.

The average credit card debt for a person is something like $8,000. That is outrageous.

I've had credit cards since I was 16 (under my parents). I use my card all the time, yet I can't remember the last time I carried a balance for more than 1 month (and typically, there is never a balance).

EDITED TO ADD: No, my parents didn't pay the card balances at all.

Posted: 1/12/2006 7:48:25 AM EDT

[#8]

People don't understand (or don't internalize) that "minimum payment" will not prevent you from having a snowballing balance.

I don't know what college education and employment have to do with it. I know surgeons I wouldn't trust to go buy a six pack of beer and come back without getting lost along the way. Just because you know a lot about one area, does not mean you are know about, or are competent in, other areas. A retired insurance claim adjuster once told me "never get in an airplane piloted by a doctor."

Posted: 1/12/2006 7:48:31 AM EDT

[#9]

It's called denial and lack of willingness for delayed gratification.

Part of the reason the rich/wealthy are in the minority is many peeps do not have fiscal discipline.

Posted: 1/12/2006 7:51:25 AM EDT

[#10]

i amagine families, babies holidays all take its toll on fathers who do not want to let their families down.

I have never had any financial problems I am only 22 but have saved up quite a pile of cash while paying my way through college and working.

Although I am not driving a new escalade (insert stupid MTV vehical) and putting myself in the red for cool stuff to prove myself... Except guns

Posted: 1/12/2006 7:51:50 AM EDT

[#11]

Quoted:
No no no. The Arfcom consensus is that credit cards are evil and must be destroyed. Nobody is iresponsible, its the cards fault.

Oooooo..ZING!

Posted: 1/12/2006 7:54:41 AM EDT

[#12]

Quoted:
No no no. The Arfcom consensus is that credit cards are evil and must be destroyed. Nobody is iresponsible, its the cards fault.

I don't buy guns. My credit card buys guns.

There's nothing wrong with credit cards if you use them responsibly. However, it's easy for someone to think to themselves "Well, I'd like to go on that ski trip. I can't afford it now, but if I paid it off over 4 months, I'd really only be paying $35 in interest, so I'll go ahead and book it, and then I'll pay it off over the summer." And this logic works until 2 months later when you think "That's a great price on a new Remington. I'd be an idiot not to buy that. The savings I'm getting on this sale price more than makes up for the $40 in interest I'd pay if I paid it off over the next couple months." The process snowballs very quickly.

I now carry no balance on my credit cards, but I've used them irresponsibly in the past.

Posted: 1/12/2006 4:11:32 PM EDT

[#13]

Why can't most adults handle a credit card?

You can be an adult and yet lack the maturity to say no to yourself.

Posted: 1/12/2006 4:22:38 PM EDT

[#14]

Gonna apply for one tommorow as per my dads advice. I really don't want one since, while I'm the greatest money saver when theres a fixed income, but if someone tells me "oh its alright, you can pay us back later" I will go hog fucking wild. Expensive nights at the club, new shoes, going to restaurants, etc, etc. Once my credit rating goes up, the card will be locked up in a safe.

Posted: 1/12/2006 4:24:23 PM EDT

[#15]

I lost my credit cards in a terrible boating accident. However, Uncle Sam has decided to give me a government credit card. Hopefully I'm responsible with this one.

Posted: 1/12/2006 4:30:48 PM EDT

[#16]

Credit cards are an excellent tool to build credit and do business in the modern world.

I have no fear of them. In fact, I welcome the challenge.

Posted: 1/12/2006 7:45:02 PM EDT

[#17]

Some of you are too young to realize this, but there are millions upon millions of really stupid people.

Posted: 1/12/2006 7:46:57 PM EDT