Sure, credit cards can do a lot of immoral things to people, but it is mainly the consumers fault for failing to understand what they are getting themselves into.
I love credit cards. This may sound absurd to most people. But I don't believe in buying anything in this day and age without being rewarded for it.
I am 19 years old, started with a Secured Credit Card, then got my American Express Blue Cash, and now have a Chase Freedom MasterCard to use for everywhere that does not take my American Express. I pretty much abandoned my secured card but do not believe in closing credit cards.
I have a credit score of 750, have a great savings and investment plan in which I am able to invest 40% of my paycheck, 5% in which is put into a 401k, and matched, the other 35% goes into my brokerage account, and I have saved up over ,000 in investments, while working part time since I was 16, have never carried a credit card balance, go to school full time at UT Austin, have no loans, pay my phone bill, car insurance, gas, utilities, and am reimbursed for tuition through work. I also purchased my car on my credit card, and paid it off the same day and was able to earn a whopping amount of cash back.
I just really dont understand why people hate them so much. I have been able to reap the benefits of a credit card. Thank you mr. american express blue, and mr chase freedom for letting me take advantage of you.
People are stupid for ever financing anything. WHy is the concept of paying for things in full so hard to understand. THe only thing that should ever be financed, and only if it must, is a home. THeres no reason for anything else to be financed. I hope the world learns one day to be responsible for their actions, and instead of being dependent on everyone else, takes responsibility for their finances, and that way we can improve the growth of our economy, and improve our 0.3% gdp growth.
Anyways, Im just tired of hearing all the crap about people losing their homes and crying about it, people paying everything on credit and carrying the balance, people making stupid decisions and blaming it all on someone else. I mean seriously, yes its wrong and crooked for companies to do some things like subprime loans, but what kind of idiot that makes 60,000 takes out an ARM worth 600,000. fucking retard. anyways, i just wanted to vent. thanks to whever reads this.
oh yea, and to everyone that is scared to accept a credit card, and scared about inquiries. inform yourself. i will gladly accept any credit card that will raise my credit availability. inquiries only negatively hurt your credit for a few months. the long term effects of high credit availability with no debt will make my score soar. inform yourselves people.
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\\ tags: 19 years, 401k, American Express, brokerage account, car insurance, chase, crap, Credit Card Balance, Credit Cards, Credit Score, full time, gas utilities, Gdp, gdp growth, investment plan, Love Cards, Part Time, paycheck, Secured Card, Secured Credit Card, ut austin
