Are credit cards evil?

[SnoDog]

http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/AreCreditCardsEvilOrJustDangerous.aspx

[cbressler1976]

In my case....yes....credit cards are evil....

[Theresa]

In my case, no, credit cards are not evil as I pay the balance off every month.

[Emily Ruth]

Only if you use them. LOL

Seriously though - there are some terrible things the credit card companies are doing these days - like if you miss one payment they bump up your interest rate to 33% or higher and a person can NEVER pay that off if they have to use credit cards to get by.

Paying off the balance off each month is great in theory but what happens if a major illness hits or a person loses their job suddenly?

Scripture tells us not to be in debt except for the debt of loving one another.

We may not fully understand why that is but I have a feeling something is coming down the road that we will be VERY glad that we are not in debt for things that are unsecured - such as credit cards.

Debts on secured items like our cars and homes is something different.

If we don't pay the bills on those - they simply redeem the item from us and the debt is cleard (in most cases)

But for credit cards - they are unsecured. It wasn't that long ago (maybe 10 years) where nothing that was a consumable (food, cigarettes, etc) could not be charged because it could not be redeemed for its value if you couldn't pay for it.

When the floodgates were opened to be able to charge anything - that is where the nightmare began.

It is the wisest thing to listen to our Lord as He knows what is coming and how we can live our lives trusting Him even if we can't take vacations or wear the finest clothes or drive the best cars. Listening to HIM is the safest way to live.

[heybales219]

yes, in my case they are. :(

[Vonne]

Seriously though - there are some terrible things the credit card companies are doing these days - like if you miss one payment they bump up your interest rate to 33% or higher and a person can NEVER pay that off if they have to use credit cards to get by.

Paying off the balance off each month is great in theory but what happens if a major illness hits or a person loses their job suddenly?

While I fully agree that its pretty ruthless how many of the major credit card companies are acting. Especially with the changes in bankruptcy law, practically in effect creating debt slavery imho... Its still, at the end of the day, your choice whether you go into significant debt with them.

It seems the scariest thing to me is, instead of people saving up a rainy day fund... most people just apt to use their credit cards as such. Which, when a real storm comes, quickly escalates out of control. But... its still your choice if you use them for such...

[Cameron]

Credit cards are neutral. Its the holder who is evil.

One can use a credit card to feed the hungry or use that same credit card to purchase a gun for a robbery.

[SharpSabre]

Credit cards are neutral. Its the holder who is evil.

One can use a credit card to feed the hungry or use that same credit card to purchase a gun for a robbery.

good points. however, the seductiveness of them leads many into financial ruin, so they can become a temptation into evil.

[Cameron]

One of the fastest ways to make someonen hate you is to loan them money they can't repay. Then when they demand their payment, the borrower makes the lender out to be the villan.

[cbressler1976]

well..you could be a mother who has to feed a baby and have no money...and look there is your credit card....what do you do?? <---it happens to the best of us