Comments on: The Good, the Bad and the Ugly of Credit Cards, Part 3: The Ugly http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 20:49:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: lisa http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-76785 lisa Thu, 04 Jan 2007 18:21:31 +0000 http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-76785 BAD CREDIT..why is it that lending tree and Ameriquest can continually put out false advertisement and continually get away with it? They advertise all over the place that bad credit no credit isn't a problem, they boost how they will help you and then they reject you because of bad credit..why are we willing to have companies put out informaiton that is deceiving and untrue and no one does anything to shut them down? BAD CREDIT..why is it that lending tree and Ameriquest can continually put out false advertisement and continually get away with it? They advertise all over the place that bad credit no credit isn’t a problem, they boost how they will help you and then they reject you because of bad credit..why are we willing to have companies put out informaiton that is deceiving and untrue and no one does anything to shut them down?

]]> By: Alex http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74749 Alex Sat, 23 Dec 2006 17:18:01 +0000 http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74749 Here is one I learned the hard way. It may be common knowledge to others, but it was the first time I had experienced it. I routinely charge things in the course of my job and get reimbursed. The upside is the airline miles and other points. Recently, I billed over $100,000 on my cards (three different ones). Two of them were fine, but the third hit me with a large interest fee because the balance was on the card for a few days. They calculate interest based on the average daily balance which was skewed by a $50,000 charge. The other two cards did not do this, but it was hard for meto complain as it was in their literature, albeit in a font of 1. Here is one I learned the hard way. It may be common knowledge to others, but it was the first time I had experienced it.

I routinely charge things in the course of my job and get reimbursed. The upside is the airline miles and other points. Recently, I billed over $100,000 on my cards (three different ones). Two of them were fine, but the third hit me with a large interest fee because the balance was on the card for a few days. They calculate interest based on the average daily balance which was skewed by a $50,000 charge. The other two cards did not do this, but it was hard for meto complain as it was in their literature, albeit in a font of 1.

]]> By: Toby http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74670 Toby Fri, 22 Dec 2006 16:30:37 +0000 http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74670 <blockquote>but are there really any great, wonderful things that can be said about alcohol in general? Same for credit cards.</blockquote> Uhhh, yes and yes. You've obviously never savored a velvety, well-aged Cabernet. Or felt the joy of getting a $300 check in the mail for doing nothing more than charging your usual grocery and gas purchases. But there's obviously no convincing you. Please, for your own sake, try and rent a car without a credit card in this country (the US), then come back and tell me if you still think you don't *NEED* a credit card.

but are there really any great, wonderful things that can be said about alcohol in general? Same for credit cards.

Uhhh, yes and yes. You’ve obviously never savored a velvety, well-aged Cabernet. Or felt the joy of getting a $300 check in the mail for doing nothing more than charging your usual grocery and gas purchases.

But there’s obviously no convincing you.

Please, for your own sake, try and rent a car without a credit card in this country (the US), then come back and tell me if you still think you don’t *NEED* a credit card.

]]> By: Nagel http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74655 Nagel Fri, 22 Dec 2006 12:44:44 +0000 http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74655 I think if you pay your balance every month there are a lot of benefits of having a credit card. If you have poor credit then they can be a burden. I think if you pay your balance every month there are a lot of benefits of having a credit card. If you have poor credit then they can be a burden.

]]> By: PCG http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74579 PCG Thu, 21 Dec 2006 22:11:51 +0000 http://www.consumerismcommentary.com/2006/12/21/the-good-the-bad-and-the-ugly-of-credit-cards-part-3-the-ugly/#comment-74579 I really can't imagine any great reasons that we NEED credit cards. It really just makes life easier, short term. But they can make life more complex if not handled very, very carefully. The author makes an analogy with alcohol. Sure there is a big difference between an alcoholic and those that drink responsibly, but are there really any great, wonderful things that can be said about alcohol in general? Same for credit cards. Wouldn't it be better to just live without it and simplfy your life? Don't over-complicate the issue. I really can’t imagine any great reasons that we NEED credit cards. It really just makes life easier, short term. But they can make life more complex if not handled very, very carefully. The author makes an analogy with alcohol. Sure there is a big difference between an alcoholic and those that drink responsibly, but are there really any great, wonderful things that can be said about alcohol in general? Same for credit cards. Wouldn’t it be better to just live without it and simplfy your life? Don’t over-complicate the issue.

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