[Libloather]

17.64% APR

Brutal.

[Pearls Before Swine]

About 20 years ago, one of my kids, then about 8 or so, asked me why the credit card companies gave you these credit cards. I replied, they do it because they hope you'll screw up, not pay, and they can charge you big penalties. Then I added, "Almost no one, except possibly your family, does anything for you for free."

When I related the conversation to my wife, she said, "Harsh." "But, True."

[Varda]

Credit cards add 3-5% to the price of things so it’s not just the month to month charges. I pay cash if they give a discount for cash. If not, I use a card.

[thoughtomator]

I can assure you it is no surprise to the banks.

[utax]

“17.64% APR Brutal.”

I got a cash advance in Dubai once useing my personal credit card when my business card would not work. APR was 50% or more. Apparently that’s legal for overseas transactions.

[Pollster1]

There are very few things urgent enough that I would be willing to carry a credit card balance to have it now. Even when I was starting out in business, I preferred eating beans and rice, with occasional hamburger, to going into debt. That soy-boy latte at Starbucks adds up (or it would if I bought those), so I skip unnecessary expenses.

[Simon Green]

I currently have 15 credit cards, with a balance of zero on every one of them. I do this to get signup bonuses for airline travel points, allowing me to fly business class internationally 2 to 3 times per year for virtually no cost.

[GrandJediMasterYoda]

Speaking of credit cards......

Public warning: When you're not looking cats can steal your credit card and order thousands of dollars of cat toys on line. BE CAREFUL. Keep your credit card on you at all times!

[Innovative]

As they say, you can’t help stupid.

[eaglestar]

Can we break it down by Political Party?

[hanamizu]

A few years ago there was talk of charging ‘freeloaders’—people who always pay their bills on time—a special charge for not going into debt.

[sparklite2]

Many years ago, interest paid was tax deductible and interest income was taxable.

Now, interest income is still taxable while interest paid is not deductible. Kinda chicken shit, eh? When interest paid became no longer deductible, I stopped carrying a credit card balance and, to this day, pay the balance in full every month.

People who carry credit card balances over month to month need to look at living below their means. And so should the federal government.

[MrEdd]

Yawn.

Cash on the barrel.

[foxfield]

One of the benefits of using a credit card is the ability to dispute charges. If a merchant will not cooperate, the bank will, in most cases, go to bat or you by giving you a refund and charging back to the merchant.

[sheana]

We use an Amex and pay it off every month. But I’m starting a new business and applied for and received a Discover card to make it easy to track original expenses. It has a 14 month no interest if paid off by then. It will be. I think the paperwork said 24% after that. OMG! We haven’t carried any CC interest in about 20 years.