Tilted Forum Project Discussion Community - View Single Post - NoSoup's Guide to Obtaining and Maintaining Excellent Credit

AVoiceOfReason · 06-23-2005, 06:34 PM

NoSoup, you're doing a good work here. Like Mobo, I am an attorney that does some bankruptcies, and I'm continually astounded at how folks don't seem to understand that a credit card charge is a loan from a bank. No, papers don't have to be filled out each time money is advanced, but for cryin' out loud, it has to be repaid. Using a credit card for anything other than convenience, and failing to pay it off each month is extremely irresponsible. The interest rates charged on that new TV or stereo drives up the cost of the great deal you think you just go.

Bottomline: If you don't have the cash in the bank to pay for it when the bill comes in, the card shouldn't be used (yes, I know there are some limited exceptions, but those should be treated as such).

06-23-2005, 06:34 PM	#19 (permalink)
AVoiceOfReason Psycho Location: Greenwood, Arkansas	NoSoup, you're doing a good work here. Like Mobo, I am an attorney that does some bankruptcies, and I'm continually astounded at how folks don't seem to understand that a credit card charge is a loan from a bank. No, papers don't have to be filled out each time money is advanced, but for cryin' out loud, it has to be repaid. Using a credit card for anything other than convenience, and failing to pay it off each month is extremely irresponsible. The interest rates charged on that new TV or stereo drives up the cost of the great deal you think you just go. Bottomline: If you don't have the cash in the bank to pay for it when the bill comes in, the card shouldn't be used (yes, I know there are some limited exceptions, but those should be treated as such). __________________ AVOR A Voice Of Reason, not necessarily the ONLY one.