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visa and mastercard will be the last american companies standing.
If you have to ask, its probably already too late.
This article on Credit Cards is the same old piece of news, we digested last year. Our eco. is 100% worse now. You might as well get real with statistics, the old 8,000 per family debt ,doesn't hack it. Banks (sub- Prime credit cards) to seniors alone, must reach at least 30,000 -50,000 per family. Pharmacy drugs, 20% hospital stays, from medicare, Oil for heating for the last 2yrs. God help you if you get serious sick, another 5000. Social Security 1,300 a month, barely pays for food...
Don't write checks your ass can't cash. In other words, stop putting shit on your credit card that you can't afford. If you can't pay cash, don't buy it. Its really very simple or are people really that dense? We use our cards for everything, but the payment is always in the bank and we rarely if ever carry a balance.
while this may be good advice, most americans are used to doing business via plastic. the use of cards per se isn't the problem; it's spending what one doesn't have that gets people in trouble. debit cards are the saner transition from credit cards to make sure people have a sense of control over their own finances.
Number one rule: Ask yourself: Do I really need this crap???
Number two rule: Engage yourself in a life that does not need crap for contentment!!!
Pay off your balance every month. If you can't control yourself, avoid the temptation and cancel your cards or leave them home. "Don't leave home without it" indeed.
If you really feel you need plastic, buy a prepaid card. Some of the ones available allow you to load large amounts of money on them and can be used for car rentals and hotel reservations, others have a maximum limit of 500.00 and are excellent for paying bills or ordering things online. When you spend the last nickel on them, that's the end of it. No late fees, no interest, no penalties. Simply recharge the card (if it's rechargeable) or discard it and buy a new one.
Rule #1...do not apply for credit card
Rule #2...do not apply for credit card
Rule #3...if Rule's 1 and 2 fail, try pulling a Tyler Durden on 'em.
on the other hand, expect robberies to increase this year and plastic is a protection from carrying large sums of cash.
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First Posted: 05-27-08 09:53 PM | Updated: 06- 4-08 05:12 AM