Credit Cards Are E-Vil

Let’s talk a bit about the evils of credit cards.

First of all, it seems like no matter what the limit is, you reach it within 3 months. The minimum payments don’t seem to be enough to cover the interest, which leads to cascading overlimit charges that further put you overlimit. Then, once you finally battle it back so that it’s just hovering under the limit, they hit you with the $59.99 “credit protector.” If by “credit protector” you mean “overlimit charge generator.” The credit protector charge never seems to kick in unless it’s perfectly timed to put you over your limit once again.

The credit card companies know this. It’s not enough for them to earn 21% on your debt. They want an additional $30 for overlimits every month. Then when you mail your check 15 days early, they wait to open it until it’s past due, so they can hit you with yet another charge, AND they can bump your rate up to 67.5%.

It seem so innocent. Charge your 3 grand, then just pay $75 a month in perpetuity. You never reduce the balance, and you still have to pay your $75 a month. But heck, you’ve got the plasma screen. Of course, the plasma will lose its charge LONG before you finish paying it off.

Credit cards are evil. I have a debit card, and a credit card. The credit card is for freak magnetic swipe incidents when my debit card won’t work. Other than that, I don’t buy it if I don’t have the money in checking. I used to be a credit card, unsecured loan, debt up-to-my-eyeballs consumer. Many times I was buying things I had to buy, but many other times it was just for the heck of it.

The only good thing about debt is increasing your credit rating, and that only matters if you’re buying a house. So here’s the lesson. Get some credit cards. Buy your groceries on them, then pay them off as soon as the bill comes. After one year, go get your home loan. The day you close, cancel out your credit cards and never apply for another one.

That’s the only way you can use credit cards to your advantage.

  16 comments for “Credit Cards Are E-Vil

  1. November 30, -0001 at 12:00 am

    AUTHOR: thea Daamm.. .mm. .it.

  2. November 30, -0001 at 12:00 am

    AUTHOR: Incredipete thea, obviously the problem is that you need a man like me, and there’s only one of me, and I’m in Kansas, and you’re not. Just saying.

  3. November 30, -0001 at 12:00 am

    AUTHOR: syn_ack89 How about “Post your gotarded opinion” – a little bit of Judd love on the Incredipete love site. Because I am totally offended by worthless. It is worth at least $0.02… 🙂 Really I don’t care either way…I’m just glad IP is back and posting.

  4. November 30, -0001 at 12:00 am

    AUTHOR: thea I could care less what’s said where… I however am not easily offended, (p.s. Did you say retard? I didn’t catch it.) Incredipete, menmommy needs help… any suggestions?

  5. November 30, -0001 at 12:00 am

    AUTHOR: Andy I have been accused of being retarded, and let me say, I was not offended by the word. Geezo you now must be PC in your own blog? give it a rest people. You rock Incredipete. tards… all of em.

  6. November 30, -0001 at 12:00 am

    AUTHOR: Walker I’m completely an all cash girl. I never even had an ATM card until just over a month ago…. and I worked at a bank for 4 years! It’s just easier for me, that way, I know that I have what I have, and when it’s gone… well, it’s gone. Less room for me to get into trouble and more debt than I want to take on.

  7. November 30, -0001 at 12:00 am

    AUTHOR: Teets My mom is the smartest credit card user ever. She pays all her bills, groceries, incidentals, etc with a credit card that pays dividends, then she pays off her cards in full every month before they are due. She collects checks all the time and never pays a dime of interest. She refinanced my sister’s truck on a 0% card, and charges my sis a small interest rate for her management skillz. I’m an all cash girl, myself. I am paying off all my debt and I only owe 14,500.00 on my mortgage right now. I’m saving up the cash for my next vehicle. I agree about credit cards being the devil. I’m not as good at managing it as my mom and I don’t trust myself not to forget a bill and make all my cards shoot up to 29% interest, so I stay away from that for now. One day I’ll be good like ma. 🙂

  8. November 30, -0001 at 12:00 am

    AUTHOR: Kamasue Nice to hear from you Incredipete. 🙂 BTW… retard v. cause delay to A great word I love to hear.

  9. November 30, -0001 at 12:00 am

    AUTHOR: Incredipete All that being said, for the sake of Jenna, I will change my modifier so that she won’t stop reading because of my use of one single word.

  10. November 30, -0001 at 12:00 am

    AUTHOR: Incredipete “Retarded” is not the term used for someone with a mental handicap. The term that is P.C. now is “mentally handicapped.” Thus, if I said “Post your mentally handicapped comment” it would be jerky, where as it is, it’s mildly amusing, if you keep in mind that I am using the word “retarded” to modify the word “comment” as opposed to saying “post your comment, you retard” which would indeed be jerky.

  11. November 30, -0001 at 12:00 am

    AUTHOR: Incredipete What word would you prefer to see there?

  12. November 30, -0001 at 12:00 am

    AUTHOR: Incredipete Where the heck did that come from? I don’t believe I used that word in the article, did I?

  13. November 30, -0001 at 12:00 am

    AUTHOR: warcrygirl I feel the same way. My oldest was speech delayed and everyone was speculating that he was retarded or autistic when the kid just couldn’t form speech. He’s now right where he’s supposed to be and yet every day he does something that completely catches me off guard and amazes me.

  14. November 30, -0001 at 12:00 am

    AUTHOR: Anisettekiss Can I just say how much I hate the word “retarded”? My friend Jeff Pierce, a phiysical trainer for the Villanova basketball team has a daughter who is mildly retarded. She is the sweetest, cutest most radiant little girl I’ve ever met, and all I see is her crying face when people say something is retarded. *deep breath* Sorry about the rant. I’m sure you don’t care.

  15. May 12, 2005 at 2:27 pm

    9 – are

  16. May 12, 2005 at 2:27 pm

    14 – with

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