Are you in debt ?

Confident Learner Joined: Jun 09, 2008 Posts: 68

Are you in debt YES/NO
And If YES then why and how did you get into it ?

I personally am not in debt and I don’t know why someone would get into getting a credit .

Posted: Fri Jul 18, 2008 8:30 am

I've been in debt for several years, ever since I went to an art college for one semester back in 2001. I was trying to work while going to school full-time and ended up putting a lot of expenses on my two credit cards. I'm slowly paying it down, but it's awful having that debt over my head all the time. Also, I owe money on some medical bills because I went to the ER twice in one year with severe intestinal/stomach infections. I have decided never again to have any credit cards. They're just not worth it.

Confident Learner Joined: Jun 09, 2008 Posts: 68

Weary intelligent , I never understood why to get a credit or use a credit card (Use a pace of plastic that is going to make you pay more instead of paper money ? ).

O and I forgot you don’t have socialized medicine UUU Sad

(like a kick in the bools) the hospital is expensive.

Do you have government organized universities ?
If not there is no wonder the more modern things of life are trebly expensive for you.
Is it really so bad that your education and medicine are expensive like gold (it seamed to be a little over propagated to here this from Michael Moore and others) ?

Posted: Sun Jul 27, 2008 7:09 am

I'm in debt and slowly digging myself out. When my kids start school and my wife gets a job we will pay things off quicker.

Most of my debt was necessity however a bigger than should be share of it was spending on things I truly didn't need.

Graduate Thinker Joined: Mar 26, 2008 Posts: 519

Quote:

Weary intelligent , I never understood why to get a credit or use a credit card (Use a pace of plastic that is going to make you pay more instead of paper money ? ).

Well actually, a credit card is a lot more convenient. And no, it doesn't make you pay more as long as you pay the balance by the end of the month. Also, if you can use a credit card and keep it balanced, it really helps your credit history which can help you a lot when buying a house or a car.

Confident Learner Joined: Jun 09, 2008 Posts: 68

Cygnus wrote:

Quote:

Weary intelligent , I never understood why to get a credit or use a credit card (Use a pace of plastic that is going to make you pay more instead of paper money ? ).

Well actually, a credit card is a lot more convenient. And no, it doesn't make you pay more as long as you pay the balance by the end of the month. Also, if you can use a credit card and keep it balanced, it really helps your credit history which can help you a lot when buying a house or a car.

Well ether I’m misunderstanding something here or … .
Convenience ridicules if it’s a casual pay use paper money its not a gold bar for crying out loud (1000 dollars in paper fill up the same space like a credit card ). For more expensive stuf I use bank transfers.

Lets calculate if I wont to get some bred for 10 dollars normally I pull 10 paper dollars and pay easy.

If I pay for bred with a credit card 10 dollars + interest for the credit. Ether I’m completely misinformed or 10$ NOT = 11$.

Ps Isn’t there a card that instead of automatically getting you a credit like a credit card simply makes a bank transfer ?

Remember always that if you have paper money you kind of fell and can check how moth you are spending if you use a credit card you have no way to check it and it’s a awesome way to run into debt. There’s a study conducted that I read abut and I participated in a little experiment in school where I simply realized on my own skin how you can get lost in invisible numbers instead of paper.

Posted: Mon Jul 28, 2008 12:33 pm

carx wrote:

Are you in debt YES/NO

Never have been and in my current situation never should be.

Quote:

I personally am not in debt and I don’t know why someone would get into getting a credit .

I do however purchase everything I can with my AmX credit card. They give me nifty cash returns, it's very convenient and improves my credit score(which really isn’t a concern). I never carry a balance that charges me interest. If I can't afford something I don't purchase it.

Quote:

If I pay for bred with a credit card 10 dollars + interest for the credit. Ether I’m completely misinformed or 10$ NOT = 11$.

Most credit cards (I'm pretty sure all of them) only charge interest if you carry a balance. Many cards pay you perks for puchasing with their cards even if you never pay any interest to them. The way they get around this is charging the merchant a percentage (normally around 3 to 4 percent).

Confident Learner Joined: Jun 09, 2008 Posts: 68

MockingGods wrote:

I never carry a balance that charges me interest. If I can't afford something I don't purchase it.

Quote:

If I pay for bred with a credit card 10 dollars + interest for the credit. Ether I’m completely misinformed or 10$ NOT = 11$.

Most credit cards (I'm pretty sure all of them) only charge interest if you carry a balance. Many cards pay you perks for puchasing with their cards even if you never pay any interest to them. The way they get around this is charging the merchant a percentage (normally around 3 to 4 percent).

Can you elaborate on this ? Is it like the Vat tax ?A hidden tax in products ? Is the product more expensive because of you paying with a credit card ?

Posted: Mon Jul 28, 2008 11:28 pm

Cygnus wrote:

Quote:

Weary intelligent , I never understood why to get a credit or use a credit card (Use a pace of plastic that is going to make you pay more instead of paper money ? ).

Well actually, a credit card is a lot more convenient. And no, it doesn't make you pay more as long as you pay the balance by the end of the month.

Famous last words. If you play with snakes, you're going to get bit. Almost everyone I've ever known that said that, ends up one day not being able to pay off the balance due to some financial crunch. It usually takes years to get out, and in the mean time you're paying an average of 18% interest.

With that aside, why on earth would you buy something that you don't have money to pay for anyway?

Cygnus wrote:

Also, if you can use a credit card and keep it balanced, it really helps your credit history which can help you a lot when buying a house or a car.

A home loan requires no more then steady employment and a history of paying your rent early or on time for at least 2 years.

This is a myth perpetuated by banks. Banks suggest you get credit cards to help your credit, but they own all the credit cards. Do you see a slight conflict of interest on this advice?

Besides, why are you getting loans for buying a car? Cars lose value like a dropping rock, that's about the worst things to pay interest on. New cars are almost always a bad investment, let alone a new car that you pay interest on. Talk about bad math. Good math is paying cash for a 2-4 year old car. It's still basically new, and it's half price.

Posted: Tue Jul 29, 2008 6:01 am

carx wrote:

MockingGods wrote:

I never carry a balance that charges me interest. If I can't afford something I don't purchase it.

Quote:

If I pay for bred with a credit card 10 dollars + interest for the credit. Ether I’m completely misinformed or 10$ NOT = 11$.

Most credit cards (I'm pretty sure all of them) only charge interest if you carry a balance. Many cards pay you perks for puchasing with their cards even if you never pay any interest to them. The way they get around this is charging the merchant a percentage (normally around 3 to 4 percent).

Can you elaborate on this ? Is it like the Vat tax ?A hidden tax in products ? Is the product more expensive because of you paying with a credit card ?

Of course products are more expensive because of this practice, but generally speaking, you'll pay this extra fee regardless of whether you use a credit card or not. In other words, most businesses do not give discounts for cash. In the cases where some do (this is rare) I would opt for the cash option if it was more then a 1-3 percent savings, dependant on my card rebate. I wouldn’t necessarily call it a tax though; it’s more like a user’s fee that everyone shares regardless of their preferred payment method.

I think this is a good example how capital/money obfuscates the reality of the actual goods and services we use.

Posted: Tue Jul 29, 2008 6:04 am

CET wrote:

Good math is paying cash for a 2-4 year old car. It's still basically new, and it's half price.

Purchasing it privately is usually even a better deal.

Confident Learner Joined: Jun 09, 2008 Posts: 68

MockingGods wrote:

Of course products are more expensive because of this practice, but generally speaking, you'll pay this extra fee regardless of whether you use a credit card or not. In other words, most businesses do not give discounts for cash. In the cases where some do (this is rare) I would opt for the cash option if it was more then a 1-3 percent savings, dependant on my card rebate. I wouldn’t necessarily call it a tax though; it’s more like a user’s fee that everyone shares regardless of their preferred payment method.

I think this is a good example how capital/money obfuscates the reality of the actual goods and services we use.

Well this just shows how simple capitalism tends to corrode and make everything more fucked up and worse .

And if its universal it’s a tax for our government in making ops I meant firms you must understand there is little distinction between government and firms and now the are staring to tax the populous wow I never assumed that my predictions are correct.

Definition of a TAX “Universal fee played in some circumstances buy someone to somebody ” and this shit is a hidden tax on where the expending are taxed to be precise.

PS : You have no idea how money and our system tends to obscure things.

Posted: Sun Aug 03, 2008 5:37 pm

carx wrote:

if its universal it’s a tax for our government in making ops I meant firms you must understand there is little distinction between government and firms and now the are staring to tax the populous wow I never assumed that my predictions are correct.

It's not universal nor is it a tax. It's up to the individual business whether or not they wish to add the additional cost of using the credit card to the products they sell (I would say most do). There's no reason a business couldn't completely refuse to take credit cards, some of which do. Some businesses also offer discounts for those that pay in cash or by check.

Costco for one doesn't take credit cards except for American Express, whom I'd assume they've worked out a better rate with.

Confident Learner Joined: Jun 09, 2008 Posts: 68

MockingGods wrote:

carx wrote:

if its universal it’s a tax for our government in making ops I meant firms you must understand there is little distinction between government and firms and now the are staring to tax the populous wow I never assumed that my predictions are correct.

It's not universal nor is it a tax. It's up to the individual business whether or not they wish to add the additional cost of using the credit card to the products they sell (I would say most do). There's no reason a business couldn't completely refuse to take credit cards, some of which do. Some businesses also offer discounts for those that pay in cash or by check.

Costco for one doesn't take credit cards except for American Express, whom I'd assume they've worked out a better rate with.

But the non users of credit cards pay it finally to and if not every business is using it than the point that paying more if you use a credit card gets valid.
Is it finally you pay more with credit or we have a hidden tax that benefits credit users. I’m seriously confused thus points are mutually exclusive and we are talking about the majority of business places (over 70%). I need to see the statistics and contracts + the money transfers in one of thus models I’m a economy student.

To me this just sounds completely absurd and I need to really get some sources explaining this credit system. Is it like this :
Business owner “Hmm I can earn 10 on a product if everyone pays the same regardless if they pay with credit or cash and if I need to give 18 % percentage to the banks if they pay with credit. Hmm if I encourage people to pay with cash I can earn more money I can give a 5% discount on cash. So the logical solution is to not encourage paying with cash because I’m border line retarded and American hurry go America Very Happy

”.

However some are using it and some are not well I’m completely confused .

PS: there is little distinction between a firm and a government the structure is the same stains central planning is in fact the free market (This credit thing is just a tax like every single tax created buy the government on in this scenario the free market who is identical to the government)for more discussion on this topic please express your opinion and reflections in this topic http://infidelguy.com/ftopict-942.html

Posted: Mon Aug 04, 2008 7:41 am

carx wrote:

This credit thing is just a tax like every single tax created buy the government on in this scenario the free market who is identical to the government)

The main difference is that taxes are mandatory. There is no mandate for a business to accept credit cards nor is there a mandate for them to recoup credit card surcharges from their customers. Paying with a credit card is seen as a convenience service, and as with any service, it’s paid for and not given away freely. The customers that are most penalized for this nearly universal service are those who choose not to use credit cards. I believe most debit card sales are also subject to this same surcharge.


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