01.22.10 | Myth: Credit Cards are Evil
When I write about student credit I get more comments that simply say “credit cards are evil!” I can only laugh when I see this because it is so far from the truths. Today’s students have probably seen a lot of credit care misuse by their parents, family members and friends. They have seen people who have buried themselves in debt and ruined their ability to obtain a mortgate, car loan, or even a student loan.
Credit cards are not evil, but the way some people use credit cards is evil. There is a right way and a wrong way to use a credit card. The right way can help you build a healthy credit history and credit score. The wrong way can put you in deep financial debt.
Some people use credit cards to make normal purchases every month. They put their groceries, gas and phone bill on their credit card, but always have money in the bank to back up these purchases. This is the right way. Some people use credit cards to spend money they do not have. This is the wrong way. You can be a credit card user and never get into financial trouble. It just takes a sense of personal responsibility and self-discipline.
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Credit card is like a short term of borrowing
February 20th, 2010 | #
Credit cards are good only if you keep track of your spending
February 19th, 2010 | #
Credit cards can be a useful tool as long as you are able to pay the bills timely for everything you purchase. Sometimes having no credit score can be almost as difficult as having bad credit.
February 19th, 2010 | #
it so true, that the person who used a credit card without having any back up plan to pay for it, will have touble pay it off. I don't have a job, so that are no reason for me have. Plus it a good way to carrier credit card instand of cash. It our credit card get stole you can stop you credit card.
February 18th, 2010 | #
credit cards are just a pain, i could see my self getting into trouble with it. so i rather not use them.
February 17th, 2010 | #
they are not evil as long as you pay the bill
February 17th, 2010 | #
only Evil if you aren't mature enough to have one. Only spend what you can afford.
February 17th, 2010 | #
cards really do help as long as you have a stable income source
February 17th, 2010 | #
I don’t know if I am getting it or not but its cool to have one.
February 16th, 2010 | #
I will get a credit card when i am ready and think i can handle it. I will also use it wisely.
February 16th, 2010 | #
I want to get a credit card now but I think I should probably hold off until I get to college.
February 16th, 2010 | #
Credit card companies unfairly target individuals who don’t have the credit history to get decent interest rates and then punish them with higher interest rates for life.
February 16th, 2010 | #
i totally agree…
February 15th, 2010 | #
good way of showing both sides of the arguement
February 14th, 2010 | #
I definately agree with this article.
February 14th, 2010 | #
I agree with ad, credit cards are not evil, it is the the way people use them that is evil. Credit cards can actually be a big help if you use them in the correct way.
February 13th, 2010 | #
The exert is correct about credit cards aren’t evil, it’s the way you use them that is evil. People make dumb choices that ruins their future income. They never really think about what could happen if they charge so much to their card.So i agree with the exert.
February 13th, 2010 | #
Yea i really do believe people dont know how to use their credit cards wisely.
February 11th, 2010 | #
people who choose to use credit cards definitely need to make sure they are responsible and don’t go overboard. helpful information!
February 11th, 2010 | #
Credit cards are not evil, its people who don’t know who to use them properly.
February 11th, 2010 | #
this is good information to know
February 11th, 2010 | #
Credit cards are evil if you ask me! I like many other people in our country, have found myself caught in a credit trap that could only be solved by making an arrangement to have them take over a hundred dollars out of my account automatically every month for a year! Im paying more in interest than I would have ever imagined.
February 11th, 2010 | #
credit cards are only evil when miss used and no paid off
February 10th, 2010 | #
Scary, but probably a necessary ‘evil’ these days……glad I had a great Econ teacher!
February 10th, 2010 | #
Having credit card is really great, it is really useful if you don’t have cash in your pocket. But if you don’t manage it well, it can turn into worst situation.
February 10th, 2010 | #
What a great resource!
February 10th, 2010 | #
very interesttingg
February 9th, 2010 | #
good to know
February 8th, 2010 | #
I believe that everyone needs a credit card in order to biuld credit, but it is not necessary to over spend and go crazy with it. People need to be recponsible and if they do their credit cards will be a benefit not an evil thing that they must have.
February 8th, 2010 | #
credit is a big part of this country and needs to be earned in the earlyer years you can!
February 8th, 2010 | #
What makes credit cards so evil is that they are not always used with much thought, but I never thought about building credit. Just might have to do that now.
February 8th, 2010 | #
i think people have to be very care full with credit cards, debit is a lot better and easier to control.
February 7th, 2010 | #
These are very informative and useful intel. Credit cards are not bad unless you use them carelessly.
February 7th, 2010 | #
whoa.. this is scary but.. i already new this.. but thanks for the info.
February 7th, 2010 | #
I feel that if you are using the credit card for building credit and you can pay it back then they are fine.
February 7th, 2010 | #
This is all true, credit cards can be so helpful as long as you are using them and keeping track of what you’re spending.
February 6th, 2010 | #
This is a money management responsibility that all need to learn and more importantly, live within your means.
February 6th, 2010 | #
I completely agree with this. I haven’t actually had the money to back any purchases I make so I have never hada credit card.
February 6th, 2010 | #
Credit cards are not evil, but the way people use them today is evil. The card has no emotion and cannot tell what its owner is doing, but the owner does. Keep the money in the bank and use your card only when you know there is some in there. If you dont have a clue look at a statement and keep your balance in check!
February 5th, 2010 | #
If you do not have a credit card then you will not have credit which will restrict you from many things life has to offer through your credit
February 5th, 2010 | #
they arent really evil just more like a lot of work paying it back later
February 5th, 2010 | #
This is so true and is the right way to use your credit. Students should build their credit, when they have the opportunity, because credit is extremely important in this country.
February 4th, 2010 | #
Credit Cards can be your enemy. People literally get so far in debt because of them that they go and commit suicide. And when people are standing outside the schools promoting young people to get them knowing they won’t be able to pay for them.
February 4th, 2010 | #
Credit Cards are a good thing when used correctly. Use only how much money you actually have-preferably less. Then pay it off-and build up your credit!
February 4th, 2010 | #
When using a credit card to purchase items one already has money for first struck me as silly. ‘Why even have a credit card,’ I thought, but then I remembered the countless purchase which require one. To name a few: hotel rooms, music online, tests, some registrations, etc. Don’t go into debt simply because you can. Thank-you for this article.
February 4th, 2010 | #
interesting
February 3rd, 2010 | #
I agree, my family members and credit card is a disaster. My sister is not easy with her credit cards. It is a scary thing to see sometimes. In the end, you will need to learn that credit cards are a way to build your credit not your debts.
February 3rd, 2010 | #
This really helps me to understand credit now! It can really help you atay responsible with your finances.
February 3rd, 2010 | #
Noting evil about credit cards. You have to be discriminate and know how and when to use them and how to protect your credit.
February 3rd, 2010 | #
Credit cards can be a great help in case of emergencies. You just have to learn control.
February 2nd, 2010 | #
I’ve always wanted to get a credit card, but now it looks like I shouldn’t get one for a while.
February 2nd, 2010 | #
I’ve never owned a credit card, i’ve always wanted one; but now I don’t think I will get one for a while.
February 2nd, 2010 | #
I don’t think credit cards are evil. I think there are bad things associated with credit cards because of the bad decisions people who have them make.
February 2nd, 2010 | #
CREDIT CARDS AREN’T ALWAYS THE ANSWER, THEY ARE USEFUL FOR EMERGENCIES…
February 2nd, 2010 | #
i do think credit cards are evil. and not a smart way to live either.
February 2nd, 2010 | #
Credit cards cause the owner to have excessive dept and one should use the money they already have, not get themselves into a situation that spirals out of control.
February 1st, 2010 | #
Credit cards are very important because you need to build good credit. Creditors want to see that you can use the card and pay it off promptly. Cards are also good for emergency situations.
February 1st, 2010 | #
Everyone needs to have at least one credit card to build up some credit. Creditors need to see that you are reliable in that you use the card then pay it back promptly. Credit cards are also good for emergency situations.
February 1st, 2010 | #
Banks slave individuals with credit cards. They know people need the money and will pay the minimun but the minimum is only paying for the interest so the individual never pays the bill. People think credit cards are a good thing, but they would be even better if the interest was low and they would teach individuals how to use them. The banks are making the money and the people stay in debt.
February 1st, 2010 | #
credit card is not evil when you know how to use it and know how to pay for it. (:
February 1st, 2010 | #
Credit cards are great, especially when you use them responsibly (pay your balance in full every month). I use my credit cards to acquire cash back and student loan rebates while making everyday purchases.
February 1st, 2010 | #
Great article! I think credit cards are needed but you need to be careful with them
February 1st, 2010 | #
Though the statements in the above article are true and I agree with them, because anyone who thinks a credit card is “free money” just isn’t thinking, I do want to point out that the statement “Credit Cards are Evil” isn’t necessarilly false. Credit Cards have the power to corrupt othrwise sane and money smart people because it is there. So a Credit Card is in fact Evil if we let it be and it takes a strong will power to prevent that.
February 1st, 2010 | #
No one needs a credit card. Pay with what you have.
January 31st, 2010 | #
I agree credit cards can be evil if not used correctly. You definitley should only use credit cards in emergency situation and only if you know you can get the money back to the bank.
January 31st, 2010 | #
I would agree. It is how you use the credit cards.
January 31st, 2010 | #
i think this article changed my perception of credit cards
January 30th, 2010 | #
I agree that it is all in how you use the card.. but debt is a scary monster and I know some people who find it easier to just get rid of their credit cards because its too much of a temptation to just use it whenever.
January 29th, 2010 | #
having a credit card can start bad habits
January 29th, 2010 | #
getting a credit card is a good idea, but only if your responsible using it.
January 29th, 2010 | #
I learned a lot about credit cards I’m thinking about getting one.
January 29th, 2010 | #
good to know this!
January 28th, 2010 | #
they aren’t people just cant abuse them
January 28th, 2010 | #
I am thinking about getting a credit card when I head off to college so that I can slowly build my credit.
January 28th, 2010 | #
Hmm. In my opinion, the best way to use a credit card is to pay out off right after you use it without building up debt.
January 28th, 2010 | #
I agree credit cards can be dangerouse if you don’t have self control or don’t know how to properly use them. If you use your credit card wisely there is nothing wrong with them.
January 27th, 2010 | #
i believe that credit cards are not all bad, but need to be used when you know you can pay them back. Also you can set a limit on your card so you can only charge but so much money a month.
January 27th, 2010 | #
Very helpful information, but I believe that the credit card itself isnt “evil”. Just the people that abuse the use of them are evil. I concure what my friend brooke said!
January 27th, 2010 | #
I agree, I’m surrounded by so many people who miss use credit cards and tell me to never invest in them.
January 27th, 2010 | #
if credit cards are so evil what is our alternative?
January 27th, 2010 | #
Credit Cards are, in my opinion, only for emergencies, but only for that..
in other cases if you have some other way to take care of your financial problems, do it that way.
January 27th, 2010 | #
With Credit cards, all you have to do is becareful in not spending to much money, look at your buget first.
January 27th, 2010 | #
This article came in much handy. I am a senior in high school about to graduate and the one thing that everyone has been drilling in my head is do not apply for any credit cards!
January 26th, 2010 | #
Credit cards are only bad if you use them irresponsibly.
January 26th, 2010 | #
be wise and responsible. don’t got over board when you are using your credit card!
January 26th, 2010 | #
i feel that if you can pay bak wat you spent, then you should get one.
January 26th, 2010 | #
i feel that if you can afford to pay back what you spent, then you should get one.
January 26th, 2010 | #
i feel that if you can pay back what you spent, then you should get one.
January 26th, 2010 | #
My teacher told me to get a credit card and buy a candy bar every month.
January 26th, 2010 | #
Credit cards CAN be “evil”, but only if you abuse your spending
January 26th, 2010 | #
I think that this article is has very good information and I think that its not the credit cards its just we get carried away and end up not being able to pay them!
January 26th, 2010 | #
Well, if that’s the “case of the secret ways of using a credit card” then it is best that I don’t get one. I’m sure I know myself more than anyone (hopefully) and so I’ll go get a credit card as soon as I know I’m ready for it.
January 26th, 2010 | #
Very helpful! Credit cards should be just for emergencies. I personally prefer a debit card.
January 25th, 2010 | #
Credit cards are not evil, they are far from it. Getting into debt because of them is evil. Buying thing you don’t have the money for is evil. It’s just dangerous to buy everything on credit. If you keep good records of your money, buy only what you need, and pay off credit, then all will be well.
January 25th, 2010 | #
Credit cards are good for an emergency and nothing else. they can get you into serious trouble.
January 25th, 2010 | #
I’m probably never going to get a credit card. I’ll just spend what I have.
January 25th, 2010 | #
If you cant pay your bill’s, dont get a credit card.
January 25th, 2010 | #
i think that the credit card is evil, i know a whole family who are in debt beacuse they used the credit card. its so tempting. if you dont have the money simply dont spend money beacuse if you dont have cash how are you gonna pay it back same with barrowing money from your parents or friends if you cant pay it back in cash than dont even think or ask to barrow, credit cards have intrest you know if you dont pay it back your debt growes.
January 25th, 2010 | #
i am hoping to get a credit card when i go to college and i dont think they are ” evil”
January 25th, 2010 | #
i dont think credit cards are “evil”
January 25th, 2010 | #
i dont think credit cards are evil
January 25th, 2010 | #
credit cards are not evil, they dont charge themselves their owners do. They abuse them and then cry about them being in debt..i mean did you really expect to buy ALL the latest clothes and shoes and not have to pay for those things?? I feel like if you cant control or keep what you buy to a minimum, then you dont need to have a credit card..simple as night and day.
January 25th, 2010 | #
Student credit cards are typically better. you have lower interest rates on them.
January 25th, 2010 | #
The truth is you have to have and use your credit card(s) to establish a credit history. However, you have to watch yourself and be responsible about the way you use it to have a GOOD credit history. You must remember that you’ll have to pay it all back plus interest, so use your money wisely.
January 25th, 2010 | #
make sure u can afford whAT ur spending to pay back
January 25th, 2010 | #
Also, if it isn’t too tempting, have a spare credit card that you won’t ever use. This will make it easier to build a better credit score and with a better credit score comes lower interest rates. So, if that “spare” earns you very low interest, you can then switch credit cards and make this spare, your new credit card.
January 25th, 2010 | #
Credit Cards should be used wisely and when needed. No one should go over their capacity of being able to pay it back.
January 25th, 2010 | #
use credit card wisely
January 25th, 2010 | #
i think you should only get it if you know how to take care of it
January 25th, 2010 | #
i think you should get a credit card only if you know to take care of it and be responsible
January 25th, 2010 | #
Actually, I’ve never once thought about your point here.
And now that I do, it makes sense.
It’s true – all I end up hearing as well is that they’re evil.
But this comes from my father who spends just as endlessly as I (try not to) do. ^^”
January 24th, 2010 | #
I will get a credit card but almost never use it, this is how to be responsible.
January 24th, 2010 | #
Yup its true. I got a credit card when I was seventeen years old. I went in debt for 800 dollars. So finally I just tore it up and cancelled it. Im way better off without it.
January 24th, 2010 | #
I think that one day I would like to get a credit card, to help rebuild my credit.
January 24th, 2010 | #
I have been living off of a credit card since I lost my job a year ago. Huge debt, and don’t see a way out yet.
January 24th, 2010 | #
This was useful. I mean its frightening to think we’re just crying out to world steal my credit card when we have so much especially before college to write down. Our social and birthdate and then we have to pay online for things. But thanks for the advice.
January 24th, 2010 | #
So I’ve been reading a lot about good credit and bad credit, and I have to say I’m feeling a little overwhelemed, but then it seems rather simple. Just don’t spend money you don’t have….still its a scary concept. Its easy to just scan your card when you don’t have the actual money but you still get what you want. Especially for college students I think this is a huge responsibility that often get’s out of hand.
January 24th, 2010 | #
Interesting. One credit card. Use it only when necessary. Always pay balance. Parents do the same. It seems to work this way.
January 24th, 2010 | #
Credit cards themselves may not be evil… Credit card COMPANIES on the other hand…
January 23rd, 2010 | #
i will most likely end up getting a credit card when i am older but for now no thank you.
January 23rd, 2010 | #
OK…I agree with the main idea.
A credit card is an animate object and therefore incapable of being inherently “good” or “evil.”
However, I’m a trained BBB Ambassador and have been involved in my family’s financial planning and I can tell you credit cards are very easy to abuse. The system actually encourages overspending and lures in the unsuspecting into using cards which quite honestly use highly unethical practices to make a profit.
Students are the most vulnerable for this form of predatory lending, especially college freshmen, who have little experience with the real world.
My advice to most students is to avoid using credit cards. If you can’t afford to buy it with cash, then don’t use plastic money to pay for it.
Credit cards are a CONVENIENCE, not a necessity.
January 23rd, 2010 | #
Credit cards are great to have, while debt is terrible to have. As long as I use them wisely and with moderation, they are needed for college.
January 23rd, 2010 | #
In the second paragraph in the first line whoever typed this article forgot to put the word “the” after but.
January 23rd, 2010 | #
This essay is absolutely right. Establishing good credit, especially in today’s economy, is CRUCIAL to starting your life after college. And if you only make purchases you can pay off, your credit will be spotless!
January 23rd, 2010 | #
I will apply for a credit card, and if I get it,I use it for college only
January 23rd, 2010 | #
Im getting a credit card when I go to college but I don’t think they are neseceraly evil.
January 23rd, 2010 | #
One of my teachers said the best way to build a good credit history as a new credit card holder is to use it for one or two small purchases a month.
January 22nd, 2010 | #
Very informative. I’m thinking of getting a credit card when I head off to college anyway. Just for emergencies though!
January 22nd, 2010 | #