New Credit Card

[dazlinpearl]

I think Credit is too easy to charge. IMO - credit is for buying a car, house, ect. And 2% is a good rate - but this could be an introductory rate. And most credit cards are like 28.9%! I don't like the interest. But you know your own personal income - and you will do what you want. I'm just sharing my experience, credit is too easy to use. And spending this way is not the best way to get things we want. I never liked hearing this - until you experience where your debt is more than what you can afford. And I always felt like all I'm working is to pay interest. Until I got a better job - and then I was able to pay things and I brought the department cards down - and those cards are cut up. Its a lesson well learned. Visa and Master Card are good to have for emergencies.

 

[rishin]

2% is really cheap.... enjoy now pay later =) that is what i always do.. and dont let my signiture fool you... i dont save 4 years for a bag LOL

Yea I was curious about that!

 

[Shopaholic Isis]

Debt is the reason why I'd never ever get a credit card. I believe in cold hard cash and paying for everything in CASH.

 

[Sternchen]

I wouldn't do it...But maybe that's because I'm scared of going into debt. If I don't have the CASH (or money in my bank account), I don't buy it. Period. I have ONE credit car (an AMEX on my Parents' account) that I have NEVER used, but that I keep in my wallet in case of emergencies (like when I drove my car into a snow embankment because some ass cut me off and my car spun out of control).

But do what you want. It's your money, and your responsibility.

 

[shalomjude]

I think you should cut it up. I don't own a credit card and don't feel the urge to get one at all

 

[sandyinspace]

I sometimes use my credit card to buy my bags. But I'd pay all back as soon as possible. It's not fun to be in debt, isnt it?
Actually, I wanna pay all in cash but our value of money is quite low compared with yours ($1 = 38-39 Baht) So, when I wanna buy only one LV bag, I have to carry many of notes...that's not comfortable.
IMO, credit card is good when you use it with consciousness.

 

[LisaG719]

I just got a new credit card with a really low interest rate (prime +2%) with a $5,000 limit - Is it bad that ALL I'm thinking about is handbags, wallets, and other Louis accessories? :shame: :shame: :shame:

As louislover stated the interest rate on the credit card is Prime + 2% - not simply 2%. This means it would come out to atleast 16% interest on each purchase. Also prime changes and could go up or down depending on the market. So in my opinion this isnt that low of an interest rate. JMHO

 

[Veronika]

Debt really does suck. But, so does living only on cold hard cash... to each her own...