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If you want to pay someone interest for 3 years and not own anything you purchase knock yourself out, get 10 or 12 credit cards and go shopping, have a good time. Good luck with it all.
PS -- You seriously need to take a class that you can understand and comprehend regarding personal finance.
If you want to pay someone interest for 3 years and not own anything you purchase knock yourself out, get 10 or 12 credit cards and go shopping, have a good time. Good luck with it all.
PS -- You seriously need to take a class that you can understand and comprehend regarding personal finance.
This thread is about charge cards. They rarely charge interest.
You are paying for it. Have any idea how much interest charges are built into the products you buy? Then interest is often a tax deduction which means they need to tax someone else. With 60 trillion in bank credit outstanding, all inflating prices as much as cash, what do you think it the annual average interest charge on that? 5%?
This thread is about charge cards. They rarely charge interest.
Actually, this thread is about pretending you don't have any idea how credit cards work in order to see if you can get people stirred up. Check out the OP's three contributions and see if you don't agree.
Oh, and I'm pretty sure the OP doesn't know the difference between charge cards and credit cards.
Quote:
Originally Posted by cokeman
I think charge cards are great, because the monthly payment is $20 for 3 years if you spend like $800 its better then it taking out your checking account.
Quote:
Originally Posted by cokeman
charge cards are great I can get expensive clothes for free pretty much and pay a low monthly payment fools?
Quote:
Originally Posted by cokeman
I can get all designer clothes and pay $10 for 30 years damn im rich haha.
I think charge cards are great, because the monthly payment is $20 for 3 years if you spend like $800 its better then it taking out your checking account.
Because people understand them.
$20x36 = $720.
Try more like $30... $30x36 = $1080. Paying an extra $280 (and more likely more than that) for instant gratification on an $800 item you probably don't need... dumb. Now if you're using that to fix the car so you can get to work or an emergency plumbing repair or something of that nature that's actually necessary it's a different story.
I think charge cards are great, because the monthly payment is $20 for 3 years if you spend like $800 its better then it taking out your checking account.
I think that credit is great if you have the knowledge and discipline to use it properly. First, only use charge cards that give you some form of rewards, preferably cash back. Second, never use charge cards that charge you any fees. Lastly, but most important, always pay the balance in full every month so you don't pay any interest charges. The interest rate ( APR ) is not important because you will never pay any interest.
I charge absolutely everything I can to my credit card. That includes utilities, and everything where my card is accepted. I not only get the rewards but also a 28-58 day float on the money.
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