Congratts here is your credit card!

Well, by topic name you must have guessed. This topic touches the credit world prevailing in all countries. Giving buying power in form of credit cards at some cost.

Earlier it was hard to buy things in dream due to money contraints - nowaday atleast in india take 4 credit cards which have 10K as credit line... wooo hoooo with 17K salary u now have 40k+17K buying power - Go buddy get what u want...

Alas, u got to pay the credit cards back and with 40K credit u cannot pay in full. now comes the interest and other circumstances, this amount of 40K is never ending to pay

Well if this facility of credit was not available would you ever spend that kind of amount?

Buying stuff on credit which otherwise you never thougth of, a good buy?

Shouldn't credit card companies limit the credit available to 20% of salary earned combiningly?

Teenager for xyz reason go overboard, should credit card companies restrict credit availability to people without a certain age (25) or certain amount as bank balance?

teenagers go overboard?? I was 20+ and wayy overboard. I even fetched myself bad credit that did come to bite me while buying house
So yes!! 25 sounds like good age!! make it 35 for those like me😳.

Now if I see a credit card offer, I chop chop shread first thing first! 😆 😆

Originally posted by: mermaid_QT

teenagers go overboard?? I was 20+ and wayy overboard. I even fetched myself bad credit that did come to bite me while buying house .
Now if I see a credit card offer, I chop chop shread first thing first! 😆 😆

😆

Originally posted by: mermaid_QT

teenagers go overboard?? I was 20+ and wayy overboard. I even fetched myself bad credit that did come to bite me while buying house
So yes!! 25 sounds like good age!! make it 35 for those like me😳.

Now if I see a credit card offer, I chop chop shread first thing first! 😆 😆

😆 at 20+ I assume you were working... but 18 years still studying and one month's job pounding with few credit cards to play around... by the time 18 gets to 19 damage is done for 2-3 years.. lol ...

Originally posted by: raj5000

😆 at 20+ I assume you were working... but 18 years still studying and one month's job pounding with few credit cards to play around... by the time 18 gets to 19 damage is done for 2-3 years.. lol ...

I was studying 😛 forever dude! haven't you heard that I am the "HUH??" or "dumb" variety ?? 😆😆 nvmd.
Sadly, I still don;t know how to manage money. One day my husband takes my money and invests in in OIL, one day in Gold, one day in Japan and one day back in OIL. He says it grows, if not I got his 😉. "Who cares" attitude prevails 🤢.
CREDIT cards however, Touba Touba.. na na na.. I develop skin rash and ulcers to hear the word ever since my credit check 😆😆 became a reality check - a sad one.

Originally posted by: mermaid_QT

I was studying 😛 forever dude! haven't you heard that I am the "HUH??" or "dumb" variety ?? 😆😆 nvmd.
Sadly, I still don;t know how to manage money. One day my husband takes my money and invests in in OIL, one day in Gold, one day in Japan and one day back in OIL. He says it grows, if not I got his 😉. "Who cares" attitude prevails 🤢.
CREDIT cards however, Touba Touna.. na na na.. I develop skin rash and ulcers to hear the word ever since my credit check 😆😆 became a reality check - a sad one.

😆😆 u r funny (as if u never heard that one before😛 ) ... Earlier I used to love to have percentage off on opening cards in big stores later to realize they all impact the score... now its like no thanks... I don't need ur discounts on cost of 10 points😆😆 we are deviating but thats the fun of debating, isn't it?😆

No credit card should be offered to anyone who are in school and are not employed. Make the age 25+. I have known people who accumulate thousands of dollars debt while in school by going on shopping spree and ofcours are not working 😡 . Such a nice trap for this young ones who have no clue that ruining their credit is going to come and bite them in their rear ends when they are ready to make the best investment of their life is buying a home.

I have known some real grown up people who still can't control their urge to surge the charges on their credit cards knowing the fact that they can't afford to buy those things

"You pay now or you pay later" A great saying.

When i started college i didnt have a job neither have i worked in my life, I automatically recieved an application for the plastic dream. 😆 Obviously i filled it out for a visa and in a few weeks i had my own credit card. i couldnt believe it then i went on a rampage, bought things which looked cool or were on sale even though i didnt need it, was beging to buy stuff without even looking at price tags. then the bill arrived...it was a LARGE SUM. thank god for parents, my dad paid it off and had made me promise to be reponsible (usually i am but it was a new toy). I also took a lesson from my roommate who is in a huge credit card debt. so at the age of 24 i have learned to be very thrifty and responsible with moola all thanks to credit cards.
i will never forget the poster for this card it had a monkey and a student and it said "you can fulfill all your dreams, even buy pet you always dreamed of" 😆

Originally posted by: raj5000

Well, by topic name you must have guessed. This topic touches the credit world prevailing in all countries. Giving buying power in form of credit cards at some cost.

Earlier it was hard to buy things in dream due to money contraints - nowaday atleast in india take 4 credit cards which have 10K as credit line... wooo hoooo with 17K salary u now have 40k+17K buying power - Go buddy get what u want...

Alas, u got to pay the credit cards back and with 40K credit u cannot pay in full. now comes the interest and other circumstances, this amount of 40K is never ending to pay

Well if this facility of credit was not available would you ever spend that kind of amount?

Buying stuff on credit which otherwise you never thougth of, a good buy?

Shouldn't credit card companies limit the credit available to 20% of salary earned combiningly?

Teenager for xyz reason go overboard, should credit card companies restrict credit availability to people without a certain age (25) or certain amount as bank balance?

The credit card companies monitor the paying ability of students and low income people very closely, the credit ratings are decided based upon their records of payments.

I distinctly remember my first credit card, I remember the sheer joy I felt that day

My weekly earning was $60, my monthly expenses were $400, I had promised myself I would not ask money from my parents to sustain myself.

I got a card with limit of $600.00, that card kept me afloat till I got an job as a gas station attendant

I am sure there are millions like me who wont like them to be squeezed out of retaining some sense of selfrespect b'cos some irresponsible kid cannot understand the value for money.

Originally posted by: sareg

I am sure there are millions like me who wont like them to be squeezed out of retaining some sense of selfrespect b'cos some irresponsible kid cannot understand the value for money.

👏👏👏 Do you know something? You have really made me switch side here.
I see your point. Looks like you limited yourself responsibly and I wonder if you represent the minority. (BTW, not being a girl wanting every shoe and purse in town helped you 😭, trust me! 😆)

I think the MORE SERIOUS ISSUE is about unlimited credit cards and store cards from every financial institute thrown at children. May be they could work on defining the Golden mean 😳 so that responsible kids like you are benefitted, while the brats like me are kept under check!
qt