Why Debt?

njoker555 · 03-12-2007

Why do people go into credit card debt? I know some people cant pay all their bills but some out there are just lazy. They dont seem to care about their credit score or reputation. People just need to work more. What are your thoughts on this?

vinodkv · 03-13-2007

money management, thats the main key with all types of loans and credit cards, i take my credit card with me, when i go to shopping, actually i am very carefull with the money management, otherwise i will be a bankrupt, so be carefull when you are shopping with your credit card.

vinodkv

ebittner · 03-13-2007

I think it is the idea that you have the power to buy what you want when you want it. The fact that people don't have to wait fr a paycheck to buy what they want will cause them to use credit cards and then something happens and they are unable to pay that money back.

**onlineexperts** · 03-13-2007

That is one reason why I stopped using credit cards. It makes it easier for me to purchase things I want. I'm a very compulsive buyer and I tend to buy so much when I have my card. Recently, I've been using Debit cards, living in my own means.

**louj** · 03-15-2007

I think that it is a matter of discipline and paying your accounts on time. Make it a priority to pay your bills, although the interest rate is low as we see it; it is still way better if we don't pay any interest at all.

KHyuga · 03-16-2007

Quote:

Originally Posted by louj

I think that it is a matter of discipline and paying your accounts on time. Make it a priority to pay your bills, although the interest rate is low as we see it; it is still way better if we don't pay any interest at all.

I would agree with you. Money management is definitely very important and I would only recommend one to apply for a credit card only if he or she can exercise reasonable self-control over his or her own expenditures. You certainly don't want your credit card debts to snowball, especially with the hefty interests.

**rant** · 03-23-2007

We may consider some interest rates reasonable sometimes cos we see it as a small percentage only. But you won't normally think that 2.2% of 1000% is 22$. That is; if your interest rate is only 2.2%, which I doubt.

chandni_aqua · 03-23-2007

i totally agree with the money management thing. I guess credit cards should be used only in case of emergencies.. i know its tempting but then controlling one self is what its all about

dasha101 · 03-25-2007

People go into credit card debt because they don't plan out their expenses. Credit card offers minimal interest rates per month which is only 2% or less. The percentage seems small but when you owed a big amount that percentage is also a big amount.

People lack self discipline. I am happy that right now, I'm debt free.

sood123 · 04-25-2007

The reason why people go for CC debts is that its just tooo easy to go for CC debt rather than other conventional sources of debt like banks.

03-12-2007	#1 (permalink)
njoker555 Senior Member Join Date: Feb 2007 Posts: 284 Rep Power: 2	Why Debt? Why do people go into credit card debt? I know some people cant pay all their bills but some out there are just lazy. They dont seem to care about their credit score or reputation. People just need to work more. What are your thoughts on this? __________________ Gamers Forum << PR3 Forum WebZ Junk Zone << PR3 Blog ZenPix Web Blog << Another PR3 Blog DUJT Webmaster Forum

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03-13-2007	#2 (permalink)
vinodkv Junior Member Join Date: Mar 2007 Posts: 7 Rep Power: 0	money management, thats the main key with all types of loans and credit cards, i take my credit card with me, when i go to shopping, actually i am very carefull with the money management, otherwise i will be a bankrupt, so be carefull when you are shopping with your credit card. vinodkv

03-13-2007	#3 (permalink)
ebittner Junior Member Join Date: Feb 2007 Posts: 2 Rep Power: 0	I think it is the idea that you have the power to buy what you want when you want it. The fact that people don't have to wait fr a paycheck to buy what they want will cause them to use credit cards and then something happens and they are unable to pay that money back.

03-13-2007	#4 (permalink)
onlineexperts Banned Join Date: Mar 2007 Posts: 111 Rep Power: 0	That is one reason why I stopped using credit cards. It makes it easier for me to purchase things I want. I'm a very compulsive buyer and I tend to buy so much when I have my card. Recently, I've been using Debit cards, living in my own means.

03-15-2007	#5 (permalink)
louj Banned Join Date: Mar 2007 Posts: 139 Rep Power: 0	I think that it is a matter of discipline and paying your accounts on time. Make it a priority to pay your bills, although the interest rate is low as we see it; it is still way better if we don't pay any interest at all.

03-23-2007	#7 (permalink)
rant Banned Join Date: Mar 2007 Posts: 106 Rep Power: 0	We may consider some interest rates reasonable sometimes cos we see it as a small percentage only. But you won't normally think that 2.2% of 1000% is 22$. That is; if your interest rate is only 2.2%, which I doubt.

03-23-2007	#8 (permalink)
chandni_aqua Senior Member Join Date: Mar 2007 Posts: 121 Rep Power: 2	i totally agree with the money management thing. I guess credit cards should be used only in case of emergencies.. i know its tempting but then controlling one self is what its all about

03-25-2007	#9 (permalink)
dasha101 Senior Member Join Date: Feb 2007 Posts: 184 Rep Power: 2	People go into credit card debt because they don't plan out their expenses. Credit card offers minimal interest rates per month which is only 2% or less. The percentage seems small but when you owed a big amount that percentage is also a big amount. People lack self discipline. I am happy that right now, I'm debt free.

04-25-2007	#10 (permalink)
sood123 Senior Member Join Date: Apr 2007 Posts: 274 Rep Power: 2	The reason why people go for CC debts is that its just tooo easy to go for CC debt rather than other conventional sources of debt like banks.

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