Credit Cards Next On Block

Ron · #1 12-01-2008, 10:11 AM

I heard this on the Weekend that Credit Cards are going to be curtailed!
While that in itself is not bad (people are living on borrowed money) if it curtails personal spending it is another indicator things are going from "bad to worse".

Pay off your credit cards!

http://news.yahoo.com/s/nm/20081201/...ch_oppenheimer

Digging4Truth · #2 12-01-2008, 10:19 AM

Yep... our economies are built on the acquisition of debt.

When debt availability is curtailed then people are not able to spend above their means and our economy is built on debt based spending.

Without continual increases in the availability of debt our unrealistic standard of living cannot be maintained.

This is going to be another serious reality check.

rgcraig · #3 12-01-2008, 10:21 AM

Mine are PAID OFF!!!!

Ron · #4 12-01-2008, 10:22 AM

Quote:

Originally Posted by rgcraig

Mine are PAID OFF!!!!

Wooo! Hooo! That is great news!

A great feeling too!

ILG · #5 12-01-2008, 10:26 AM

We have some at zero percent. I wonder what will happen there.

George · #6 12-01-2008, 10:34 AM

The only card I ever use is my check debit card. If I can't pay cash for it, I don't get it.

Neck · #7 12-01-2008, 10:37 AM

Quote:

Originally Posted by Ron

I heard this on the Weekend that Credit Cards are going to be curtailed!
While that in itself is not bad (people are living on borrowed money) if it curtails personal spending it is another indicator things are going from "bad to worse".

Pay off your credit cards!

http://news.yahoo.com/s/nm/20081201/...ch_oppenheimer

There is a man in the US who has asked the US for a bailout of his credit card crunch....

Neck · #8 12-01-2008, 10:39 AM

Quote:

Originally Posted by George

The only card I ever use is my check debit card. If I can't pay cash for it, I don't get it.

I use AMX when I can.

Then I have a record of what I purchased and when.

Then I pay the one bill.

I start out each month with a ledger and I deduct from the ledger just like a checking account.

So I always know how much my AMX bill be and what I needed to budget..

Ron · #9 12-01-2008, 10:48 AM

Quote:

Originally Posted by Neck

I use AMX when I can.

Then I have a record of what I purchased and when.

Then I pay the one bill.

I start out each month with a ledger and I deduct from the ledger just like a checking account.

So I always know how much my AMX bill be and what I needed to budget..

That is wise!
In Canada, it ain't much better, most Canadians are in hock to thier eyeballs!