Is it true that people who have more credit cards with them are less well off financially than those people who use more of debit cards for spending.Please give your opinion on this view point.
I don't know if there is a relationship between the number of credit cards you have and your financial well being (even famous people use credit cards), but I can tell you that if you're so poor it kills your credit you sure aren't going to have many.
I can honestly tell you that i do NOT use credit cards at all. The one thing that really pisses me off is when they send the credit card without you even applying for them. Think about it, you didn't apply for it, and what if by chance someone else gets a hold of it and signs it? It's on your credit report. And what's even funnier about it, is I actually DO take the time to call the creditors and bitch to them about it, and they have the nerve to give me(?) the attitude? wtf 0_o ... maybe they shouldn't be sending me their credit cards when I didn't apply for them. <-- end rant --> And to answer you imho, i dont think thats true at all. I think it's a toss up.
Well considering atm's let debit card holders take out cash even after they are withdrawing more than they have in the bank, i think its equal chance of financial debt.
I don't think credit card is related with your financial well beingness, alternatively it increases your purchasing power and so on the liability, IMO.
No, I do not think thats possible. You have to activate that CC and to activate they ask you few questions to identify you. However if someone close to you get it like your wife Then you might be in trouble otherwise its not a problem. If that happened to me i would sue that damn bank or card company and could easily WIN... I have been getting offers when i was 16 WT* Never used CC in my life and i think that was smart move. I do use debit card and reason i dont use CC is i do not want to get into debt like 99% of americans are
Yes, of course you have to activate it. But the whole point of the matter was them sending out cc's without applying for them. You never know has your information these days. And acquiring information is extremly easy to do. They do not ask you questions. Everything is automated these days. they ask basic information that can be acquired easily. dob, ss, addy. Another thing I find funny, is you are supposedly suppose to only be able to activate it from the phone number in which you supplied (e.g. for my debit card) and yet, by using a totally different number( i use vonage now), you(I) are/was still able to activate the card.
I dont know about you but i dont think anyone even have clue about my SSN and they do ask for that. SSN is not easy to get... Do you know you can get almost anything on other persons credit if you have their SSN and some basic information And as long as you dont give out your SSN to them you have nothing to worry about because it cannot get on your credit since they dont have SSN
I get at least 1 credit card a week, with $10,000 credit limit. I'm only 19 and the fact that i have gotten over $400,000 worth of credit cards that i could activate seems kinda strange.
Doesnt work like that, You activate one of those your CC limit for other will decrease that means more CCs you have less limit they will have on them. So you activate one 10k and next one you will get no matter what company it is from it will be looooot less then 10k
It is because of the person. A person that has no financial discipline will tend to take on many credit cards to cover their debt (which is probably how they got into the whole in the first place). It's not that getting many credit cards will automatically make you poorer, it's how you use those credit cards that will do you in.
if you think things of that nature are hard to get, then you may be in for a rude awakening one day. (god forbid of course) pretty much so. the key things to look out for should you decide to maybe take them up on their offer one day is annual free (there should be none). the apr you start with, and the apr that it adjusts back up to after the trial period. going from like a 1.9 to a 19.5 is plain ridiculous. and that's how they sucker people. definately watch out for their so called 'late fees' they try to stick you with late fees unbeknownst to you. watch out for that. all in all, you will eventually need credit to get 'things' you want. just be very careful with credit, as it can really reem you a new one if you aren't careful with it. yes, i did learn the hard way when i was your age. young dumb and not a care. had the money to pay for everything, but i was too busy being one of the wild child's of the world. Rob
I do not use CC and dont recomment it anyone. My brother learned his lesson hardway after that he is on cash for everything too. I know its not possible for everyone in US atleast to not to use CC because you dont bulid credit if you dont have CC and most of the people cannot afford cash for Cars and Homes but if you can afford that i suggest that you avoid CC as much as you can or dont even use it at all. If you can afford Debit card gives you access to everything you need CC for but ofcourse you need money sitting in your bank. an0n, I dont think it is possible if you protect your identitiy and i do that very well
I use credit cards when they are 0% APR then I transfer balances to a new card when it's about to start charging interest. By that time, I've usually paid them off. Oh yeah, I usually use debit anyways.
No, I don't think having credit cards means better off at all. I know lots of people, from their appearance you would never know how well off they are. So appearances are deceiving, almost anyone can acquire a credit card these days. lol