Hang on the correction is coming. Just saying.

Don't worry J.
Being a GTSer, you will be able to afford gas in the boat.

Nah I got enough jelly jars buried I can afford anything I want Plus grab up some deals when the other shoe drops

Problem is people forget that they owe the money on these things , it’s just a tool for business and must be used properly and it starts with paying it off each month

Don't forget that your share of the national debt has now cracked the $100,000 mark.
That's every man, woman, and child.

Don't worry, well print our way to prosperity!

I never use credit card anymore.

56% of Americans do not have access to $1,000 cash.

Never owned a credit card. Matter of fact according to the credit bureaus I don't exist.

What worries me is the Federal government will ,as is par for the course, try to bail the delinquent credit card accounts out in the name of what's best for the national economy. Thus transferring the burden to every citizen, causing taxes to rise and ultimately making Federal government larger and giving them more power. More the Feds spend the bigger and more powerful they get and that's the plan.

I don't even have a pair of those shoes.

Haven’t had a credit card with a balance owed in over 15 years.

You only get bailed out if you are too big to fail. Unless one can figure out how to flip it over on a college loan, then you are forgiven.

Just think of all money the Feds will save on ink and paper when they switch over to electronic funny money !

I don't blame it on the economy, sucker and losers abuse their credit and when someone spends or overloads their credit and defaults someone else makes money, its just a circle. Smart hard working people make money others just don't get it. If all the wealth in the world was divided up in equal shares it wouldn't take long for a wealthy few to have it all back.

All you no credit card guys here's something for you to think about with some made up monthly budget numbers...

Electric Bill = $150 x 12 = $1800
Gas Bill 100, 1200
Trash 60, 720
Car 1 Gas 200, 2400
Car 2 Gas 100, 1200
Groceries 500, 6000
Cell Phone 250, 3000
Car Insurance 150, 1800
House Insurance 100, 1200
Hair cuts, Vet, Oil Changes, Netflix, Amazon, Etc 75, 900
Cable $0 b/c someone will say they don't have cable.
Eating Out $0 b/c someone will say they don't eat out.

Anyway that adds up to $20,220

A credit card that pays back 2% on all purchases would give you $400 for things you have to buy anyway (the number is bigger, they aren't all listed above).

Anyway, thats Christmas money at the end of the year or a rifle budget.

But if you don't pay it off monthly as you go then its not worth the say $500 a year of FREE MONEY. (they are betting you wont pay it off as you go.)

You are mostly correct, However in times of high inflation, even smart people can get lulled into complacancy and get passed by. These days you need your head on a swivel.

Cell phone=$250????A month???

No way!

I have four phones on mine. I wasn't sure what to put.

All true, but my biggest bone of contention is government/banking interest collusion to encourage the least savvy to incur unrecoverable debt. Guess who gets ahead in that model?

I feel the same about the lotteries as well.

Govt policy should be absolutely neutral in all things market and financial.

Sucker's bet.

One major medical, unexpected career change, income earner partner death, etc and that house of cards collapses.

You're much better off salting away 2%, or more, of your income as an emergency fund.

BTW, I didn't include divorce as that should be off the table but for many its a sad inevitable.

Lots of people get credit cards with no intention of ever paying anything back.
Credit card issuers dont care,they just write that off and get it back from the suckers.

That's sad, but true. In some respects, it's kind of like the US student loan program only on a plastic card.

Exactly right C,Money is the bottom line for these big entities,and if it costs more to go after the bad debt,with little or no chance of getting it it is more fiscally prudent to write it off,and incorporate the loss as a cost of doing buisness.
The crooks with multiple fake identities know well how to game the system,and the big boys know that the suckers will cover it.
I wont play that game.

You pay it off monthly Warrior. It doesn't build up to be the suckers you describe if I am imagining it right. Whatever catastrophe you list takes place in the same month you planned to pay it off and worse case maybe you miss a month but last month and everything prior was paid off. I guess I am assuming everyone has some savings to dip into should something come up if that is your point. If your wife dies you still have to pay your bills no matter if you have a credit card or not right?

First shoe?

43% of small businesses cant pay rent in full or on time right now.

You assume wrong. Reports are suggesting a large part of the public are unable to lay their hands on a thousand dollars in the event of an emergency.

Is $2000 2024 stimulus check just a rumor. Say it ain't so Joe .

Credit cards aren’t for everyone

People abuse them,,,,and get wrecked

Government’s abuse them,,,,,and get wrecked

It’s capitalism,,,

the alternative sucks BTW

But as long as you never pay any fees or service charges then you are not paying off someone else's bad debt.