Why are people so stupid? (credit)

[Kire]

I'm watching this documentary called "Maxed Out" about the shifty practices that credit card companies and banks. Still, as bad as they get, why are sooooooooo many people in credit card debt??? I mean, it scares me that I'm the exception to the rule. Do people don't think they'll have to pay them back, and that they won't have to pay these off??? You'll have to pay eventually, and way more. I pay all my cards monthly and have hardly ever payed a fee (usually a slip of the mind a month or two).

I'm not trying to come off as elitist or anything, I'm just saying...

[Kefka Jr.]

Re: Why are people so stupid? (credit)

I don't get it, either. Student loan debts are terrifying enough.

[Kire]

Re: Why are people so stupid? (credit)

yeah, I can understand things like college loans and car loans...I paid off my car ASAP. It's the lots of little things and neet gadgets that I don't understand. I can sometimes get some crazy stuff, but I never go beyond my means...never give them an opportunity to screw you, cuz they will.

[The_Real_Crunk]

Re: Why are people so stupid? (credit)

I usually pay off my card the day after I use it. Im paranoid Ill forget to pay it if I dont do it right away.

[peachy]

Re: Why are people so stupid? (credit)

i use my credit card as my "i dont have the money for this, but i work and dont anticipate getting fired so im going to buy it now instead of waiting until i have enough" card. also its my "oh god i have to pay for tuition and books tomorrow and im completely broke" card. and my "im so baller that when i eat at a restaurant while everyone is trying to figure out how to pay the bill i just ninja my card over to the waiter and have a great big laugh" card. and my "im a degen, lets gambol" card. its also apparently my bands bank account.

coincidentally, im often in a lot of debt.

[Crimson Knight]

Re: Why are people so stupid? (credit)

LOL

Debit cards FTW

I don't see the point in having a credit card at all. I can wait to buy stuff I think I need. Unless it's food, then I rob homeless shelters.

[Ms. Porkchop]

Re: Why are people so stupid? (credit)

I'm in horrible credit card debt. I used to date a guy with a gambling problem and found myself paying out rent and other bills quite frequently with my credit cards.

[Kirin]

Re: Why are people so stupid? (credit)

Even though I pay my credit card bills on time, I often ended up losing money because of hidden fees (Instead of nickel and dime-ing you, Bank of America tends to five and ten dollar you ). After a while I learned exactly what caused fees and what didn't so I stopped funneling money to them. In addition to some people just being plain stupid with lines of credit (especially with those tax refund advance checks, which can have up to 700% interest), a lot of people are oblivious to the fees that get tacked on, and it only makes things ten times worse.

Lesson learned: read, read, READ, the terms of service on those things.

I don't see the point in having a credit card at all.

When you do it right, it can be very useful. I think it's good to have at least one even if you don't use it so that you can have credit history if you need to buy a car or house or get an important loan someday. It's bailed me out several times when I had real emergencies and I didn't have $500-600 on me. Most of the time I end up paying my tuition on it because my financial aid doesn't come in time to pay it for me.

[Karr Lord of Chaos]

Re: Why are people so stupid? (credit)

I usually pay off my card the day after I use it. Im paranoid Ill forget to pay it if I dont do it right away.

this is the same way for me. im over zealous with my cards and always pay it off next day or before it comes due. i hold myself closely to a budget and try to not go over, especially if my income is severely limited. my friend lives from over draft to over draft, even though he works 40 hours a week plus extra shifts he still cant get ahead. i dont want to put myself into that position.

i am fortunate that i have both a mother and grandparents who are willing to doll out some extra money when i need it most. without the support of my family i would be in a lot worse of a position then i am now. i have always been generally responsible so im sure that helps too. also not having a strong desire to scrimp and save is definitely a plus.

[Sabram]

Re: Why are people so stupid? (credit)

I dont have a credit card, but that's mostly cause i got married to a girl with some horrible credit, lol. But its all good atm, i've still been able to afford what i need

[Kire]

Re: Why are people so stupid? (credit)

F-R-E-E that spells free, credit report dot com, bay-bee.

GOD I hate those commercials.

[thetruecoolness]

Re: Why are people so stupid? (credit)

Yeah It's not even free, damn liars. I pay off my credit cards after I get paid. I use my card instead of cash whenever possible because I get airline miles with it, so I figure why not get free miles while buying things. I should have my student loans paid off in a year, and maybe my car in 3. But yeah I don't see how people end up spending as much as a nice car on their credit cards, at that point just get a damn loan .

[Kefka Jr.]

Re: Why are people so stupid? (credit)

When people come into the convenience store for a single bottle of Mountain Dew and whip out their Master Card it takes much of my energy just to keep from reflexively tossing the scanner at their face.

[Karr Lord of Chaos]

Re: Why are people so stupid? (credit)

they need an idiot tax for people like that. im sorry to say but a bottle of moutain dew does not equal a major credit purchase and thus does not warrent the use of a card with a few thousand times the value of the pop's in credit allowance. how hard is it to keep a fist full of change under the car seat? or to keep at least one small bill in your wallet?

[Duel]

Re: Why are people so stupid? (credit)

I have one credit card and it's my emergency credit card.

Cold hard cash for me.