1 to 4% of your transaction value,

Take that and multiply it by a zero transaction person like you say you are and then what will the banks say? Small cow or no cow? Mooooo, its better to have some milk than no milk at all.
[/quote]Doing everything right means pay in full every month[/quote] is no different then someone who pays on time by the month but not in full. You dont have to agree with HJM331 nor I, but what would you agree to when you can not pay a bill in full by the month and then you are not left with any choice but to pay what you could? What will be your story then? It is not called you did something wrong, you are still showing them you can make your payments.

My main point is that, what do you need a credit card for anyway, if you can pay for everything in full? To build credit? Maybe so, but to me, that is where using your own cash comes in.

HJM331 I have to agree with you again. I reside in San Francisco with 3 kids and a husband, we both makes decent money, but when it comes down to these bills (all the neccesities that you mentioned) that is a major deduction from revenues. There are some people out there who have it a lot easier when they are grown and still can't leave their parents house (no offense towards anyone) or live somewhere where their share of the rent is a nickle below zero. There is a lot you can do then. Be as for me, it is just not happening, hjm331, from what you tell me, you know what it is like too. A pain in the smacker!

Liowkc, not everyone has high income. Most of us are on a tight budget right now bearly paying out fixed monthly bills such as car payments, telephone bills, rent/mortgage for our homes, etc. That does not even include the expenses for kids. So whatever we buy on credit cards means that we need it at the moment but don't have the money to put up for it in full. If people were like you say they were, then banks would've all filed BK right now because they wouldn't be making any money off of their interest rates. After all, that is their biggest revenue. I don't think there's as many people going over their limit or paying late when compared to people carrying balances from statement to statement. Check MATE!

Liowkc, that's 2 against one. Anyone else want to agree with me? LOL

hjm331,

Don't worry, I do not agree with Meya (Meya Sorry!) - you do have the choice in credit cards - no balance by the payment date you pay 0% - you can made that happen; card companies will not close your account when your balance is 0. when you spend on their cards, they make 1 to 4% of your transaction value, so you are still a small cash cow to them

Liowkc, that's 2 against one. Anyone else want to agree with me? LOL

Hjm I will agree with you on credit card companies forcing you to pay higher int rates. If you dont pay it and have a balance, then you have no choice unless you are going to pay in full and close the accout. Some choose to make it sock drawers, but if you charge on thing on there, you agreed to pay it (the higher int rate). Creditors can go up on your rate anytime they want to, you and I both know that.

Hi I still had to disagree On the second potint, you can choose to have a zero balance, what can these card loan sharks do to you?

On the first point, I said in my previouis post, the givt may have good intentions; notice the operative words "may" and "intentions". Card companies simply want to suck you dry .

Nice talking to you.

Liowkc, you're telling me that the gov't has good intentions by forcing us to pay for the war in which we didn't have anything to do with in the first place?

Actually, a cardholder is FORCED to pay the high interest rates as long as their account is open with a balance. The only way a credit card lender will close an account is when there's a zero a balance on the account or a BK. You can't run away from the interest rate as long as you have a balance on the card.

Now trying disagreeing with that

I had to disagree with you on two points why govt is different from credit card companies:

1. It is possible that govt may have good intentions but definitely not the card companies.
2.. Govt can force you to do certain things like pay income tax; card companies cannot force the high interest down your throat unless you are stupid or desparate enough.

Credit card companies are just like our government. You have to pay the interest rates they set your card to just likes taxes, there's no avoiding it. When the government loses money especially in a war, where do they make it up from? The U.S. citizens. Just think of it that way you'll be alright.

uh oh, I made a typo, BofA only earned 9 billion last year not 90 billion. I guess they would have earned more if they didnt buy out Countrywide. You do know that we will all be paying for the Countrywide bailout next year

hjm:

It's impossible to know how much they're earning unless you work in one of their corporate offices I guess.

Porgy is right hjm, you can find out thier earnings through wall street etc, acutally if you watch the news or any business news/paper, you will see it al the time. but Porgy, I thought that bofa took a 90 billion lost last for years earning because of a merger that went bad. Did I misread or heard wrong?
[/quote]Do you think people are in heaven when they mortgage the rest of their life to FICO and credit card companies?[/quote]
I had to laugh from the way you said it, sometimes people can say something that just makes me laugh, and the writer don't even realize that it is funny. Porgy does it all the time..lol. But

Yes I do belie that people think they are in heaven when they mortg thier life away to FICO, that is the way to destruction. They get the world on credit and then hide under a rock, or take antidepressants when it is time to pay it back. What felt like heaven then is burning their skins now...lol

Hi Meya

What so funny about the statement that you have to laugh so hard. Do you think people are in heaven when they mortgage the rest of their life to FICO and credit card companies? Give me a break

BofA posts its earnings every quarter . Wall street posts the earnings report and in 2007 90 BILLION in earnings. Poor poor Bank of America. Maybe we should take up a collection for them :

It's impossible to know how much they're earning unless you work in one of their corporate offices I guess.

Yes, we should all sit and cry for Bank of America. That poor bank only earned $90 BILLION dollars last year on those crazy high interest rates, overdraft fees etc.

Maybe they should raise everyones rates from 25% to 45% so they can earn 150 billion next year. Poor poor BofA, dont you feel just awful for them?