backhoeboogie":3oy0m3ju said:If I buy a car, its not because the bank is making me do it. If I buy a hamburger, its not because the banks say I have to.
Brute I don't understand your hatred for banks. They've loaned me money to buy caterpillars, backhoes, a farm etc. All of which made money for me.
Its kind of hard to buy something online, from places like Florida, and fly down there to pay cash. A credit or debit card makes life simple. But the bank doesn't tell me I gotta buy things.
Plenty of nickels in the checking account. I buy $150 item online, use a credit card, no big deal. When the bill comes I pay it. Pretty simple.
If I need to buy 50 head of cows, I can use my credit line. Go to the bank next week and flip around some savings to cover things. No big deal. Really not much different than using a credit card except it might actually cost a little bit.
I don't hate all banks. Just the mega banks that have lost common sense.
I do despise all cred card companies. I believe they do nothing positive for society and are bottom feeders. They are no different then pay day loans. They stole the play book from tobacco companies. They went after adults, then college kids, and now children.
People don't realize that when they take out debt, the treasury prints money to keep interest rates down, which devalues our dollar, which makes products seem more expensive, which makes debt increase, on and on and on.
It's not good for those of us who are responsible with are money to condone credit cards and this debt. When interest rates go up it will be us who will pay to bail the companies and people out who will default on all this debt.
I'm not against all debt but I am against credit card debt. I know it's easy and convienent to use credit cards but rarely is the easy, convienent way the best way long term.
Credit cards are the gateway drug to bad financial habits. Some people can manage it... but most cant.... 66% cant in fact.