Credit Cards and their evil users

[Dragon Lady]

A friend of mine posted on Facebook about a Mastercard ad she saw where the tagline was "See it, Want it, Buy it." And commented that this is what's wrong with America. Another someone commented on it saying, "credit cards are just straight up evil and serve no good purpose." Which, of course, started quite the drama-filled thread. It was hilarious. I'm fine with the thought that the misuse of credit card breeds entitlement, which is the root cause of many of our problems. But this guy was incredibly stereotypical and blinded by his bias that I seriously laughed in incredulity for at least an hour tonight. Actual quotes include:

im not sure how to say this but I think saying credit cards are ok as long as you can control your self is like saying strip clubs are ok as long as you always look at the ground.

After someone commented that they can serve a good purpose, but only if you have total self-control:

Your bluffing Kathy I know your bluffing. You may pay it off every month like a cooperate good girl but you spend more because of it. it hurts to use cash it feels ok to use plastic.

I later discovered that he considers debit to be cash, and has no problem with people using debit cards. Just credit.

im sure you are good enough with money. But your choice to use a credit card is not a good one. Just use a debit card for a online purchase. The whole purpose of using cash is to not buy as much. live on less. When it comes to raising children less is more. You can only use credit in a irresponsible way some of us are just more irresponsible than others. I spend by my comment about bluffing when I hear the comment "its ok to have a credit card just pay off the balance each month" I know they are full of s[***].

um Mrs [Yellow] you just told me your life story of struggle and deliverance in order to justify why you should have a credit card. don't you find that weird? Kathy also told a story of how she raised 7 kids on a shoe string and now cant pinch pennies any longer. [Note: She actually said that she used to pinch pennies and thus won't spend more now that she has more money] Is this not a red flag. BTW I never mentioned your weight or body image just your integrity.

Oh, well. Just my integrity? No big deal. Sorry I argued with you, dude. (Apparently the body image comment was based on the fact that I said, "I'm sorry that you think I'm a big fat liar.")

Or someone said, "My husband is an accountant, and he will never have a debit card. It is too easy for someone to get your number and empty your account before you even know about it." His response?

Now people are using their spouses profession as an excuse to get credit cards we truly are in the last days folks.

Im not saying people who are bad with money should have a credit card im saying people who have them are bad with money.

Goodness. I'm pretty much quoting everything he says, but they're all just so amazing!

[Dragon Lady] I dont think your evil and dont really even think your a liar but if we lived in a country where people paid what they had and learned to live with out we would be better off than if we had credit even if some of you paid off the balance every month. I dont think people are liars but I do think when people are getting what they want instantly they tend to decieve even themselves. Why not have a surplus? Why not build a emergency fund? The Mormon church doesent live on credit its not by accident. Im not wrong Kathy im wrong about other things but not this. Rich people who stay rich also dont use credit.

its not personal.

Oh, you're right. My integrity is not personal.

I just mean its not personal in the sence that I would questioned anybodies integratity if they claim credit cards are ok. Its not personal for that reason i still stand by my anti credit views.

The conversation finally wound down when I said:

I think there are two main ways to use credit. 1- I want this, but I don't have the money now. But I will when my paycheck comes in a few weeks. So I'll buy it on credit, then pay it off when I have the money. 2 - I have the money right now, and I'm buying it on credit in order to build up my rewards, but I'm setting aside the money in my checking now so that when the end of the month comes I'm sure to have the money to pay it off.

I think your main argument is against the first group. I think those of us being defensive are in the second group.

To which he responded:

Great analysis. I think number 1 is very foolish. number 2 is just kind of foolish.

My drama/humor quota is definitely filled for the night.

[mic0]

Woooooooooow. That's some excitement you've got there! He would be really disgusted with my husband's business wherein he now uses like 3 credit cards to just buy (and sell) stuff. There are so many things to comment on in all of that... The only one I'll comment on though is: "The whole purpose of using cash is to not buy as much. live on less."

Really? That's the purpose of cash? I'm pretty sure the purpose of cash is so that we don't have to barter and so that we CAN buy more. Does he not realize that cash is older than credit?

[Giovanni Schwartz]

intergratity (9th quote, third from bottom.) -- definition please?

[Portia]

I don't like credit cards on principle, but I have a browser with a spell check. <eyeroll>

[Dragon Lady]

I don't think that everyone should have credit cards. And I agree many use them irresponsibly. But the stereotyping that anyone who does is evil and anyone who says they pay off the balance monthly is a liar? Man. That guy…

[Laser Jock]

Is it unfair of me to observe that atrocious spelling (or orthography in general) often implies poor reasoning skills?

(I also recently realized that if someone can't present a nuanced stance on an issue, I likewise have a hard time taking their views seriously.)

[Whistler]

some people just will not be persuaded

[Katya]

Is it unfair of me to observe that atrocious spelling (or orthography in general) often implies poor reasoning skills?

My little brother is a terrible speller, but he's one of the most careful thinkers I know. (Dyslexia runs in our family, so I wouldn't be surprised if his spelling issues were caused by something along those lines.)

(I also recently realized that if someone can't present a nuanced stance on an issue, I likewise have a hard time taking their views seriously.)

Yeah, I agree with you there.

[Portia]

Is it unfair of me to observe that atrocious spelling (or orthography in general) often implies poor reasoning skills?

My little brother is a terrible speller, but he's one of the most careful thinkers I know. (Dyslexia runs in our family, so I wouldn't be surprised if his spelling issues were caused by something along those lines.)

My little sister also has dyslexia, I suspect. That's why I think that making use of an in-browser checker can be so useful. it will catch the most egregious misspellings, and therefore lend credence to your arguments. I know I had to spell check my Board answers, and I'm very much an orthographist, but I am a careless typist, sometimes.

[bobtheenchantedone]

I used to be determined to never get a credit card, but even then I never thought they were evil - I just thought I would use it irresponsibly and didn't need to build credit.

He sounds like he may have read a little too much Dave Ramsey.

[Laser Jock]

I was pretty uncomfortable with the idea of a credit card at first, but it was because the whole system seemed so complicated that I was sure they would find some way to charge me money, whether through tricky fees, or because I was afraid I wouldn't understand when things were due (which seems silly now, but I wasn't completely sure of things like how long I would have to pay). Or even that I might just forget to pay it on time. So although I got one when I got to BYU and signed up for a bank account (they pitched it as somewhere to link my savings account for overdraft protection, I think), I never used it. (Never even activated the card they mailed me, in fact.)

Fast forward a few years, and I eventually started using one as my primary purchase method. It wasn't really a change in my spending habits; I just stopped using my debit card and started using my credit card instead. And once I got automatic bill pay set up to pay the bill every month (in full, of course), a lot of my worries about forgetting went away. But this way I don't worry about someone draining my account (like DL pointed out), and I get cash back through Discover, and I hear you even get some warranty protection and such for many purchases.

Oh, and presumably building credit, too. Because somehow my credit rating is quite good, despite not having much credit history besides a credit card...which seems strange to me.

[Emiliana]

Another non-evil use of a credit card:
Yesterday we went to the drug store to pick up a prescription, coffee, and toilet paper for my sister, whose car is stuck at her office 'cause ice storms. It came to just under a hundred dollars, which we put on the credit card. She wrote us a check when we got to her apartment, which check will be deposited and used to pay off the credit card within a few days.

[Yellow]

Nope, sorry. Pretty sure that makes you 100% pure evil. The guy on Facebook said so.

[thatonemom]

Yikes to the whole thing. I've seen this kind of thinking before from people who are just realizing that things they assumed were services because they were "free" are actually businesses. Of course credit card companies have to make money. That's why they exist. But just because they are making money doesn't make them evil. They don't create irresponsibility. People have struggled to live within their means long before credit cards. In general, And I don't think credit cards target the poor in the same way that title loans/pay day loan places do. Especially in the last few years. It's much harder to get credit than it was when I first started college in the early 2000's.

Anyway, I think it's best if consumers understand the ways their credit card company, or bank, or social media of choice makes money. Because they all do. (Even LJ's helpful banker was most likely getting some kind of bonus for promoting a credit card to go with his bank account.) But once you know that you can be smarter about how you use/participate in things. And not be afraid of them or feel like you need to shun them...

[bismark]

Chase bank is paying for my flight to South Korea and Japan this summer in the form of credit card sign up bonuses... cost me ~$200 for two business class round trip tickets. evillllllll

[wryness]

I don't think credit cards target the poor in the same way that title loans/pay day loan places do. Especially in the last few years.

I hate payday loan business commercials with the burning white-hot intensity of a thousand suns. I always get this impression that those businesses are trying to take advantage of people who are desperate, and I imagine that in most cases the end result for their customers is that they are financially worse off than before.

I think it's best if consumers understand the ways their credit card company, or bank, or social media of choice makes money. Because they all do. . . . But once you know that you can be smarter about how you use/participate in things. And not be afraid of them or feel like you need to shun them...

Yep. It's just a question of acting, instead of being acted upon. If people advocate for themselves, they will reap the rewards. I just think of my credit card as a delayed cash payment, and I always plan to pay off the complete balance every month. My credit score is okay, so I think I'll stay that way and reap the nice side benefits.

(Insert evil laugh here)

[Dragon Lady]

Another completely evil [cough] use of credit cards: I get reimbursed by the church a lot in my calling. And often they're big purchases. Ones I'd really rather not have to budget around until I get my reimbursement check up to 2-3 weeks later. So I put them on my credit card instead. Let the church build up my bonuses. I'm good with that.

My neighbor has a coworker going to grad school. Adobe pays for it. But they reimburse him. So he pays for tuition on his credit card, Adobe pays him a week later. He immediately pays off his credit card. And now, after one year tuition that he didn't pay a dime of, he and his wife are going to Hawaii for free.