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	What should young people learn about credit cards? By keithold thanks all baggers Asked Oct 6 2007 8:19PM	233 Pts Rate Question

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Top Answer out of 124

by LynfromNM on Oct 6, 2007 at 8:25 pm Permalink

1) If you use a credit card, you have to budget making the payments on it, including any interest.
2) A credit card isn't a license to overspend your income.
3) You should never charge more than you can afford to pay off in a month.

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LynfromNM Oct, 06 2007 at 09:07 PM

Thanks for another good question!

mitcham Mar, 13 2008 at 06:36 PM

might I add; 4)credit card balance doesn't mean money you have.

LynfromNM Mar, 13 2008 at 07:00 PM

yes, it helps to know the terminology!

Answer 2 out of 124

by Tom47 is howling in his wolf COAT on Oct 7, 2007 at 1:46 am Permalink

Don't put anything on a card you can't pay off monthly!!!

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keithold thanks all baggers Nov, 16 2007 at 01:13 AM

Thanks Tom47.

Answer 3 out of 124

by - M.C.S. - Dave on Oct 7, 2007 at 1:45 am Permalink

That they are not free. And that they come with a cost.

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keithold thanks all baggers Nov, 16 2007 at 01:14 AM

Thanks MCS,

- M.C.S. - Dave Nov, 16 2007 at 01:18 AM

You're very welcome Keithold anytime...........M.C.S.

Answer 4 out of 124

by tamarakh is ready for a vacation on Oct 6, 2007 at 8:24 pm Permalink

First and foremost:

........

IT'S NOT FREE MONEY. Wait wait, what was that? Oh yeah....IT IS NOT FREE MONEY. It's so easy to think "hey, they gave me a $2500 line of credit, I'm gonna go get a new HD tv!"

Then the bill comes, and you have to pay it back..and if you don't pay it all back at once, you have to pay FEES for not paying for all of it. It's not free, it's not yours, and it's not a gift. That's the main thing :)

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keithold thanks all baggers Oct, 06 2007 at 09:05 PM

Thanks Tamarakh for your answer.

qnupuiman Feb, 24 2009 at 11:44 PM

About credit cards can be read in http://usa-people-blog.blogspot.com/

Answer 5 out of 124

by 11nomad16 on Oct 6, 2007 at 8:22 pm Permalink

debt is slavery

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keithold thanks all baggers Oct, 06 2007 at 09:06 PM

Thanks 11nomad16.

Anonymous Oct, 06 2008 at 10:41 AM

I couldn't agree with that more. It's a trap.

Answer 6 out of 124

by Anonymous on Oct 6, 2007 at 8:20 pm Permalink

That you actually have to pay for the stuff you bought through a credit card.

=)

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keithold thanks all baggers Oct, 06 2007 at 09:06 PM

Thanks mantobeat for your answer.

Anonymous Oct, 06 2007 at 09:09 PM

Answer 7 out of 124

by American Idle on Oct 7, 2007 at 6:31 am Permalink

They DO have an ending.

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keithold thanks all baggers Nov, 16 2007 at 01:13 AM

Thanks American Idle.

Answer 8 out of 124

by discobod on Sep 26, 2008 at 2:02 pm Permalink

1. someone has to pay the bill eventually
2. try a debit card instead and feel real achievement when you save money to buy something
3. to learn that if they earn 10,000 a year that means they can only spend around a third of that safely - ie 3,000
4. do not miss the payment day and do not pay minimum payments for too long - cos it will end up costing you a small fortune in the long term
5. know when to cut up the card - if you have overspent too much cut the thing up now!!!!!!!!!!

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keithold thanks all baggers Oct, 06 2008 at 09:50 PM

Thanks discobod.

qnupuiman Feb, 24 2009 at 11:44 PM

About credit cards can be read in http://usa-people-blog.blogspot.com/

Answer 9 out of 124

by Voodoo on Oct 7, 2007 at 6:34 am Permalink

Credit cards are BAD!! Using credit cards is spending money that you don't have, and soon you will have less.

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keithold thanks all baggers Nov, 16 2007 at 01:30 AM

Thanks Voodoo.

Answer 10 out of 124

by SG QOTABD RIP SHELLA DARLING on Oct 7, 2007 at 1:47 am Permalink

that credit cards are very very evil.

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keithold thanks all baggers Nov, 16 2007 at 01:31 AM

Thanks SuperGirl/