Comments on: Credit Perspectives: Credit Cards Are Dangerous Tools

By: * A Credit Card Is Not Your Ticket To Financial Freedom

* A Credit Card Is Not Your Ticket To Financial Freedom — Tue, 02 Jun 2009 03:23:43 +0000

[...] not help you achieve financial freedom, nor will they send you to financial hell. They are simply financial tool that must be used with care. There are pluses and minuses to consider, and when used responsibly credit cards can make your [...]

By: That One Caveman

That One Caveman — Thu, 10 Jul 2008 22:27:40 +0000

Emily,

Thanks for chiming in. I agree with everything you said except for (nearly) equating credit cards to drugs. The word drugs naturally carries a negative connotation. Now, if you said “prescription drugs,” I would agree more since that doesn’t carry the same feel.

“Free money” is exactly how some people treat it. I know that some school districts now require personal finance courses for graduation, but that is only a recent change. I wonder sometimes if credit education should be mandatory before you’re even allowed to apply for a credit card, but that would certainly get shot down for “discrimination.”

By: Emily

Emily — Thu, 10 Jul 2008 22:07:27 +0000

I think credit card usage can almost be compared to drug usage. Many people can use them without a problem, but for some people, they become addictive and problematic. Heck, there’s even a recovery group called Debtors’ Anonymous. I think one of the biggest problems is that there isn’t enough credit education. Too many people look at credit as free money rather than a loan that must be paid back at a higher rate. Some people can handle it, but some certainly can’t.

By: Ron@TheWisdomJournal

Ron@TheWisdomJournal — Thu, 10 Jul 2008 20:00:55 +0000

“Look For Help Before You�re Over Your Head”

THAT’S the best advice. It’s almost impossible to learn how to swim when you’re dumped out in the middle of the ocean.

By: Personal Finance Buzz

Personal Finance Buzz — Thu, 10 Jul 2008 17:38:14 +0000

Personal Finance Buzz…

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