Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.
How do you know? You have no idea what people are up against. Credit cards aren't being used for fun anymore, they are being used for survival...as in paying bills and eating.
>>Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.<<
It can be the last resort. But it does start a hole that is really difficult to dig out from (but it can be done).
Payday Loans — THAT is the losing proposition.
“Anyone that uses a credit card and doesn’t pay it off in full every month deserves to lose big.”
Credit cards should only be used as a form of cash. If you don’t have the cash, you should not use your card.
Instead of paying off these 4 and 5 percent debts, I'm investing my money in options on gold and silver and stock indexes and make more every month doing that than the combined card payments are worth.
Until you know an individual's unique circumstances, it would behoove you not to shoot off your mouth so freely.
Once I had the ducks in a row, GSA signed, and was ready to go, I started my business with the cards. They'd been zero balance for years, but got me going. I'd never been that far 'in', but you gotta spend money to make money. It worked, and that's paid off, now.
Credit is a tool, to be wielded carefully. You can use it to carve a niche in a market, or you can cut your fingers off. You have to have a solid business plan, still be frugal, and plan to pay off the debts first.