Credit

**Sp00k** · 03-26-2006, 11:59 AM

What's you view on buying on credit or hire purchase? I personaly don't like it but the buy now pay later scheme appeals to me, especially if its interest free credit.

Seems to me that the credit facilities are getting out of hand & its all too easy for people to get a credit card & run up a hefty debt.

At the moment I've just got a direct debit card for my bank account & if the funds aren't in the bank then I can't use the card.

The amount of invitations for credit cards is astounding. If I took up every offer I could amass a lot of presents at a hell of price later on.

I suppose a mortgage is credit in a way but that is a necessity in life unless you're rich enough to buy it outright.

**Nightmare** · 03-26-2006, 12:07 PM

I don't really care for credit cards .. it's too easy to get yourself in a bind . I too have a check card but no others besides the department store I work for and I use it only to get my discount , I make a payment on the card then do my shopping .. that way no interest and no bill later .

*Godfather* · 03-26-2006, 12:08 PM

Well for the world, credit is an o.k. thing; except that whole Great Depression thing maaay have had a little to do with it

Personally, just being young I dont go and buy stuff more expencive than I can realisticly afford right there an then, but I do work on my credit rating by purchasing, and repaying immediatly. Someday in the (hopefully) not too distant future my rating will be very important

But I totally agree, far too many credit card offers and crap like that...some shiny new, or more protected or better credit card is available. There's really only one bank that's good...the one that's sending me to school

**Sp00k** · 03-26-2006, 12:19 PM

I was reading about the debt figures in a newspaper last week & the world debt is in the Trillion for the first time. Bankruptcies are on the up & obviusly the doom & gloom its spreads is devastating.

*Godfather* · 03-26-2006, 12:30 PM

Why is it that the world looks so fragile now to everyone anyways? I mean, from the inevitable doom that is upon us, we would be lead to believe the Baby Boomers were the generation that F'ed it all up for however few generations are left.

Then again, WWI and WWII musta looked pretty close to being the end of civilization, the Hundred Years war musta sucked, in fact, the Middle Ages in general must have seemed like man was moving backwards.... Ok, debt is in the trillions, global warming, phycos with nukes, terrorists, no rain forest, no ice caps, AIDS, Bird Flu, GW Bush, killer astroids, the coming of christ (I saw it in a tabloid), I mean.... it seems insane. I know your thread is about Credit spooky bud, but to me it's just another reason we are lead to believe we should build a bunker and hide away.

So, if anyone can answer this young, innocent

youth's question....just how bad is this, and compaired to what the world has pulled it's fat ass out of before, how screwed have my parents left us as the next generation rises and has to deal with these problems that seem to promice to be the end???

(I'm not sure how off track that was spook, but your doom and gloom got me ranting

...sorry)

wIggy · 03-26-2006, 12:34 PM

for the world's debt to be in the trillions for the first time, it sounds bad, but look at the per capita income of the world as well. I'm sure, that our grandparents, thought the world debt being in the millions was a HUGE deal too. I think it's all relative, now I'm speaking ONLY about world debt and credit, I can't speak for anything else.

*Godfather* · 03-26-2006, 12:37 PM

Sure... go buy all the stock you want on credit

...errr, sorry Nono and Nana

...

**Sp00k** · 03-26-2006, 12:50 PM

Hey GF, no probs my friend, you may be digressing but at least its topical & SD. What I was trying to convey was the credit has created so much complacency & apathy in some cases that when the bubble bursts people take drastic measures to make ends meet.
Classics are druggies stealing to feed their habit once the credit facilities are dried up.
Don't have to be druggies but when people realise the disastrous results they've incurred with borrowing too much beyond their capabalities, some will turn to crime or worst case`scenario is suicide.
Now the knock on effect is calamitous, so yes its doom & gloom to a degree.

Its surprising how man people have about Ã‚.£15,000 - Ã‚.£50,000 pounds in debt with credit cards. Some have even more due to easy access to their many cards.

Its amazing how many people have 10 or 20 credit cards. It needs redressing so that you can only have 1 credit card with a limit to their capabilities.

*Godfather* · 03-26-2006, 12:52 PM

The people with 10-20 are the ones paying credit card debt with other credit cards...I suppose once you hit that point you better win the lottery or bankrupsy isnt far eh :?

**Sp00k** · 03-26-2006, 01:01 PM

Kinda impulsive & reckless. Defies logic but greed takes over necessity for a lot of people.

**Dragoness_Cutie** · 03-26-2006, 02:40 PM

I have two credit cards: one MasterCard and one Visa. I got them both when I was eighteen, soley for the purpose of building my credit. I never use them unless I have the cash to pay them off immediately. And the few times that I have actually paid payments were because of large purchases that my 'rents were giving me the money for (example: tuition and books). As long as they're used that way, I think credit cards are wonderful. If not... they can be very, very dangerous!!

wyeast · 03-26-2006, 07:23 PM

Using credit demands a higher level of willpower and planning than to go without. That said, having credit opens a lot more opportunities for you in terms of what you can obtain and in some cases may be necessary to even qualify for things such at mortgages.

We have a fairly high level of credit for what we make. A lot of that is based on my credit history of never going far beyond my means. In my lifestyle, credit was merely a way to condense the number of ATM visits and checks I had to write. Know your lifestyle, what you can afford, and pay off your credit balance.

*Big Boss* · 03-26-2006, 09:40 PM

damn thought this had to do with street creds