yes the credit must be used with great care like at petrol pumps or for purchasing expensive things like furniture.one should avoid its frequent use bcause loosing it can cost you a lot.

I wish I could use my debit card for everything. If I can’t I use my credit card whenever and however I want. I will not stop myself from buying something I need because I do not have sufficient fund in my bank account, that’s the wonderful benefit of having a credit card.

Sure, banks earn BILLIONS every year from fees. They love it when you overdraft, use your ATM card when there is NSF etc. All of their profits come from people who are unable to manage their finances.

Eric, your right. We have a credit card terminal at our shop which is offered by Bank of America. They charge us abput $45 for their service. They charge us 1.67% of each transaction so if you add that up, they're making pretty good money.

ok guys...here's a fact about the credit card companies...so you think that if you pay your credit cards in full...pay no finance charge what so ever that your sticking it to the bank.... think again! Visa, Mastercard, Discover, AMEX, BofA, HSBC, Chase, Citi are all making alot of money off of us when we use are cards. Everytime you swipe your card, 3-4% of your purchase is ours right off rip. Its a transaction fee that the merchant has to pay.

Now Im going to be honest. If a customer calls in and wants a late fee or finance charge waived and they spend $5-10k on their card every month, I would NOT hessitate to remove any extra fees associated. Now if I see an account that may spend $100-$500 a mth...I have a hard time removing anything for them.

We are profit driven at the bank...everytime the card is used there is money...finance charges, and late fees are just icing on the cake for the bank... of course the world runs on credit. Not many people can go out and buy a nice home cash. So like Porgy said...your only hurting your self if your not taking advantage of credit.

Thanks Meya, I owe it all to everyone here at FG. You guys are great and that's why I'm here for everyone working hard on commenting on everyone's post. I am giving advice from my own experiences and it can't get any more genuine than that. But if you guys ever need some advice whether on your credit life or your personal life, just feel free and I'll be happy to help you guys out. Meya and I have been helping each other out with our personal lives and it has been great knowing Meya. She is a wonderful person and deserves the best AMEX card in the world and much much more.

Whew, I have to give you credit for what you are doing. I know that it is pretty hard paying off something that you done years ago, but it will all fall in place for you. Becoming a member at Fg is going to make that time fly by so fast because you are going to find new routes to take care of old debt and more stories to keep you focused. It will be all over before you know it. I remember when I first started here back in the 50's....lol just kidding, but I used to have way more baddies than what I have now, but it has cleared up before my eyes due to members here keeping me motivated on my future credit. Take hjm331 for instance, he never thought he would be approved for an AMEX this year, he was waiting til the end of next year to apply. Just by getting info at FG, he was recently approved for a AMEX Delta GOLD[/color][/b]
You go HJM.

Hi Meya,

I believe there is no one in this world who would give me a credit card lol - the fact that I owe debt to over 6 companies all of these are third party debt collectors that I am now repaying monthly, I also dabbled stupidly with a type of loan shark company that gave loans to those of really poor credit rating and I got into trouble with repaying them in fact I am still sending them letters to find out where the debt has gone too. I now have a basic bank account and I only have that as I went through a bank that helps people with extremely poor credit. One thing I need to do and that is check my credit score as I think the last time I did that was about 5 years ago. Hence why I come here picking up lots of ideas and help - I am due to get married and plan to start a family so the more educated I can get into the world of banking the better as I got into a terrible state.

I use a Discover card for routine purchases and pay it off every month, but even with this, I have to be careful not to overspend. I have had situations before where I have paid my debt down completely over time, used credit cards responsibly, and then got in a situation where I could not pay back the balance at the end of the month. So, whether a person has one card or 30, we all need to exercise great care in our spending habits.

Hi Meya,

I believe there is no one in this world who would give me a credit card lol - the fact that I owe debt to over 6 companies all of these are third party debt collectors that I am now repaying monthly, I also dabbled stupidly with a type of loan shark company that gave loans to those of really poor credit rating and I got into trouble with repaying them in fact I am still sending them letters to find out where the debt has gone too. I now have a basic bank account and I only have that as I went through a bank that helps people with extremely poor credit. One thing I need to do and that is check my credit score as I think the last time I did that was about 5 years ago. Hence why I come here picking up lots of ideas and help - I am due to get married and plan to start a family so the more educated I can get into the world of banking the better as I got into a terrible state.

Princess, what Porgy just said is true. If you do not have a credit card, I find it very interesting that you would take the time out to read credit stories that make you jitter. Have you had a bad experience with them before? Its ok to talk about it here, trust me, you would be amazed to hear about who has been in a credit disaster before. This is why the Poor-fair credit stories are flooded.

YOu will eventually realize that not having credit cards established will sort of keep you in the whole with your scores because they weigh heavy on your credit report. If you are not interesting becoming involved with one then try applying for one and then put it away for a couple of months at a time. Just purchase something very small, pay it off, and then repeat this step for a few years and you will see a major difference in not having one on your credit report.

If you do NOT have a credit card you are only hurting yourself. When you will need a car loan, to buy a house etc, without a good track recored of payments you will get nailed big time with a high interest rate.

The best thing to do is get credit when you DO NOT need it. This way you will have a track record for when you will need credit

Wow interesting reading for a novice like me on credit cards, I dont have a credit card and couldnt trust myself with one! but I look at credit cards as just another way of borrowing too and just hearing the words credit and card put together, I break out in hives lol. I just associate credit cards with getting into trouble with debt if like me you cant control yourself with spending and money.

It is all so true. We should take extra care to our credit cards. One mistake could get us in serious trouble. I have a very bad experience regarding this

Nobody should "borrow" from credit cards, either by over spending or cash advance. Credit cards should be used for convenience and free-creitit period.

Whenever you use your credit card, you are borrowing. If you do not pay it back, all hell breaks loose. I know that debit cards do not have the same as credit cards, but to a certain extent they do. US Banks offer rewards for those who use their debt as visa charges. I have recieved up to $15 and I cashed it in to my account quick as lightening.

When you say credit should be used for convenience, and free-credit period, that is only saying that it is "finance free" through a grace period. Nothing is free with a credit card, even if they have to catch you at the end of the year for an annual fee.

I had to disagree witb you again

When you use a credit card to make a purchase knowing that you actually have enough resources to pay in full now, you are not borrowing - you just enjoy a free credit period.

As for annual fees, waiver is always possible if your account is in good standing. Banks know fully well that is cheaper to keep an existing customer than acqurie a new one. Remember: no credit card is worth paying for.

Nice talking to you