Comments on: Credit Cards and Guns http://cashmoneylife.com/credit-cards-and-guns/ Money Management, Small Business, Career Tue, 22 May 2012 21:43:35 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Ryan http://cashmoneylife.com/credit-cards-and-guns/#comment-15810 Ryan Thu, 18 Dec 2008 18:39:34 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-15810 No doubt, FFB. But it's amazing how many people's problems aren't their fault. ;-) No doubt, FFB. But it’s amazing how many people’s problems aren’t their fault. ;-)

]]> By: FFB http://cashmoneylife.com/credit-cards-and-guns/#comment-15808 FFB Thu, 18 Dec 2008 17:59:53 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-15808 Credits cards don't put you in debt, you put you in debt - to paraphrase the NRA. My credit cards have never jumped out of my pocket on their own to buy something. I'm always the one responsible for my credit card bills! Credits cards don’t put you in debt, you put you in debt – to paraphrase the NRA. My credit cards have never jumped out of my pocket on their own to buy something. I’m always the one responsible for my credit card bills!

]]> By: Ron@TheWisdomJournal http://cashmoneylife.com/credit-cards-and-guns/#comment-7337 Ron@TheWisdomJournal Sun, 20 Apr 2008 22:27:25 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-7337 Great analogy. As a little kid in the South, guns were always around. We were taught gun safety and no one I ever knew got hurt. We had many, even dozens, of guns and ammunition in the home. As a little kid, I was NEVER taught anything about credit, personal finance, debt, budgets, or anything of a financial nature. I had to learn all that on my own. I'm just glad it wasn't the other way around. ;) Great analogy.

As a little kid in the South, guns were always around. We were taught gun safety and no one I ever knew got hurt. We had many, even dozens, of guns and ammunition in the home.

As a little kid, I was NEVER taught anything about credit, personal finance, debt, budgets, or anything of a financial nature. I had to learn all that on my own.

I’m just glad it wasn’t the other way around. ;)

]]> By: Mike http://cashmoneylife.com/credit-cards-and-guns/#comment-7278 Mike Fri, 18 Apr 2008 12:49:45 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-7278 I see where you are going with the post and I understand your point. I would probably go a step further and say that if used incorrectly credit cards could be liken to weapons of mass destruction (WMD). We now see the financial mushroom clouds caused by the misuse of credit cards and mortgages. I read somehwere that the next big financial problem will come from bad credit card debt...potentially worse than subprime... if that is possible. I hope not. I see where you are going with the post and I understand your point. I would probably go a step further and say that if used incorrectly credit cards could be liken to weapons of mass destruction (WMD). We now see the financial mushroom clouds caused by the misuse of credit cards and mortgages. I read somehwere that the next big financial problem will come from bad credit card debt…potentially worse than subprime… if that is possible. I hope not.

]]> By: kitty http://cashmoneylife.com/credit-cards-and-guns/#comment-2179 kitty Tue, 30 Oct 2007 14:17:03 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-2179 "Are there honestly people on the PF blogs who do not fully understand, or do not even read, the T&C of credit card offers? " But do you really need to understand full details? There is really only two things that are important about credit card use: 1) if you borrow money, you always have to pay it back - any moral and ethical person should've learned this in childhood. If you understand that you always have to repay your debts, you cannot really believe that buying on credit allows you to buy more. 2) if you don't pay your credit card bills in full and on time. you'll pay a lot more. If you really understand and follow these two basic rules, you don't care about details of the contract: if you always pay your credit card bill in full and by the due date, you never have to worry about fees or universal default or two cycle billing. By the way, I only learned about these last two things recently from a PBS program; for some reason for 20-something years I used credit cards I've never needed this information. When my parents got their first credit card their English wasn't good enough to read a newspaper, much less T&C. But because they understood these two rules above, they've never had gotten themselves in debt. By the way - we came to the US from a communist country. No legal or financial education there - this was the economy where a small salary was given to you in an envelope in cash, and you had to stand in line with cash to pay your bills. If people from a communist country with little English can understand how to use credit cards for convenience, why can't those who were born in the US? I think guns are more dangerous -- when misused they can kill. Death is final, debt is not. I'd consider alcohol or gambling a better comparison - some people can enjoy alcohol and some people shall avoid it entirely; some people can come into a casino, spend $40 for some entertainment and leave, others get in trouble. “Are there honestly people on the PF blogs who do not fully understand, or do not even read, the T&C of credit card offers? ”
But do you really need to understand full details? There is really only two things that are important about credit card use: 1) if you borrow money, you always have to pay it back – any moral and ethical person should’ve learned this in childhood. If you understand that you always have to repay your debts, you cannot really believe that buying on credit allows you to buy more. 2) if you don’t pay your credit card bills in full and on time. you’ll pay a lot more. If you really understand and follow these two basic rules, you don’t care about details of the contract: if you always pay your credit card bill in full and by the due date, you never have to worry about fees or universal default or two cycle billing. By the way, I only learned about these last two things recently from a PBS program; for some reason for 20-something years I used credit cards I’ve never needed this information. When my parents got their first credit card their English wasn’t good enough to read a newspaper, much less T&C. But because they understood these two rules above, they’ve never had gotten themselves in debt. By the way – we came to the US from a communist country. No legal or financial education there – this was the economy where a small salary was given to you in an envelope in cash, and you had to stand in line with cash to pay your bills. If people from a communist country with little English can understand how to use credit cards for convenience, why can’t those who were born in the US?

I think guns are more dangerous — when misused they can kill. Death is final, debt is not. I’d consider alcohol or gambling a better comparison – some people can enjoy alcohol and some people shall avoid it entirely; some people can come into a casino, spend $40 for some entertainment and leave, others get in trouble.

]]> By: Ryan http://cashmoneylife.com/credit-cards-and-guns/#comment-2167 Ryan Tue, 30 Oct 2007 00:48:26 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-2167 Brandon, I'm sure that most people reading PF blogs read and understand the T&Cs of credit cards, job offers, mortgages, etc. - At least, I think most people understand them <i>now</i>. There are a lot of people who come to PF blogs to learn, and in my opinion, learning at any time, even after making mistakes, is better than never learning at all. It's hard to judge someone who is trying to improve his situation. Brandon, I’m sure that most people reading PF blogs read and understand the T&Cs of credit cards, job offers, mortgages, etc. – At least, I think most people understand them now. There are a lot of people who come to PF blogs to learn, and in my opinion, learning at any time, even after making mistakes, is better than never learning at all. It’s hard to judge someone who is trying to improve his situation.

]]> By: Brandon http://cashmoneylife.com/credit-cards-and-guns/#comment-2162 Brandon Mon, 29 Oct 2007 14:36:23 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-2162 Are there honestly people on the PF blogs who do not fully understand, or do not even read, the T&C of credit card offers? How about the T&C for job offers? Home purchase offers? How many contracts are you signing and being bound to without understanding those contracts? No wonder the rich get richer... Are there honestly people on the PF blogs who do not fully understand, or do not even read, the T&C of credit card offers? How about the T&C for job offers? Home purchase offers? How many contracts are you signing and being bound to without understanding those contracts? No wonder the rich get richer…

]]> By: Ryan http://cashmoneylife.com/credit-cards-and-guns/#comment-2126 Ryan Fri, 26 Oct 2007 23:46:44 +0000 http://cashmoneylife.com/2007/10/22/credit-cards-and-guns/#comment-2126 Plonkee, I'm assuming you mean Andy2's suggestion to go target shooting? If guns are not your thing, that is not a problem; don't go target shooting. The only point I am making is that guns are not inherently bad - just as credit cards are not inherently bad. It all comes down to the intent and use of the <i>tool</i>; be it the credit card or the gun. Thanks for the comment. :) Plonkee, I’m assuming you mean Andy2′s suggestion to go target shooting? If guns are not your thing, that is not a problem; don’t go target shooting.

The only point I am making is that guns are not inherently bad – just as credit cards are not inherently bad. It all comes down to the intent and use of the tool; be it the credit card or the gun. Thanks for the comment. :)

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