[ambrose]

No, I love credit card companies. I charge everything I can with them. Makes things easy, don't have to carry lots of cash, have recourse if I get in disputes with merchants, provided with a statement of all my spending... and then I get cash back!

Not only that, I can double my cash back to get cool gift cards. This month, I turned a $20 Discover cashback bonus into a $40 giftcard from the Sharper Image. How cool is that?

Oh yeah, and I pay off the balances. Let some other moron pay 30% interest. If they don't give it to the credit card companies, they'll blow it at the Bingo Parlor, Indian Casinos, stupid investments, etc.

[octobersky]

Very well said.

[cpdiii]

I buy everything on plastic. I pay the plastic off at the end of the month. However, I am aware that the plastic is structured to "entrap" the naive. The billing cycle is designed to make late fees unavoidable unless you have a check in the mail within one week of receiving the billing statement. The late fees as a percentage are in the range which Al Capone would charge. Credit is extended to those that are not credit worthy and as a result drive up the the cost of credit. The industry does need a clean up.

[montag813]

Let some other moron pay 30% interest. If they don't give it to the credit card companies, they'll blow it at the Bingo Parlor, Indian Casinos, stupid investments, etc.

And if they get cancer like my college friend did, and lose all their income and can't pay their mortgage or credit cards? No bingo for him. Of course, now he doesn't have to worry about that anymore. But his family does.