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Destigmatize Bankruptcy.
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this post was submitted on 01 Nov 2023
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Destigmatize using credit cards to fund a lifestyle you can't afford
Existing is a lifestyle most cant afford at this point, but ok.
Existing is free.
...for a few hours, until you need water. And food. And shelter.
Please don't tell me that you think people living in the woods by themselves because our extremely advanced modern society with practically limitless resources compared to nearly all of history can't provide basic needs like that for everyone participating in it is a-okay.
Right?! Capitalism has quite literally made it illegal to revert to a hunter-gatherer lifestyle, unless you have money of course....
Capitalism didn't make anything illegal.
Our extremely advanced society provides convenience. And convenience is not free. Go live in the woods if you want a free life.
People own the woods.
Pony up, rents due.
You're a pony? Ok
If you can't afford to exist you definitely shouldn't have credit cards, because then you're just existing with interest.
Hmm let me see, buy groceries on credit, or buy no groceries and starve to death, i guess I'll juat starve to death lmao. Glad life is going well for you friend!
Unless your spending outweighs your earnings (in that case not even credit cards will help you), there is no reason to use credit.
I'll play devil's advocate here: I'm on the side with destigmatizing credit cards, as it just propels the bank's wallets with interest. But if you don't have money, and absolutely must get on credit to hang on to your life, I think you should, but you should also work toward repaying the debt you've grown.
Edit: I'm actually curious as to why I got down voted, maybe I'm wrong somewhere, so take it with a grain of salt ...
Really the only good thing about credit cards is it helps raise your credit score. I only use them for that to be able to get a decent apr on a loan.Otherwise i would never use them.
There are more benefits to credit cards, but if you don't pay them off every month pretty much all pros are massively outweighed by the cons.
People are being stupid in this thread and downvoting you. Credit cards are designed to make poor people SUFFER! There are better ways to avoid starving
Agreed. Food banks are literally designed for this scenario. They exist to help people put food on the table. Few scenarios actually require credit cards. No shame in accepting help when you need it. And you can always donate later when you're on your feet. You cant ever give back if you're dead from starvation.
I use my debit card for almost everything and use my credit card for small things to keep the usage low if i use it at all.
True there are more. I just typically dont use it otherwise i would rack up more debt. Using my debit card is the best way for me to track my finances.
You gotta find a good one that gives travel rewards or something. We've had a few vacations with free flights because of ours. Of course you should only spend what you can pay off in a month but it still adds up
TRAVEL REWARDS??? We're in a conversation about people starving, and you're like "oh but this one gives you a free flight to Jamaica"
If those are your only two options, buy the food. But let's be honest here, Americans aren't in $1 Trillion dollars of credit card debt because of groceries.
Nope, that would be because of rampant consumerism being sold as the solution to depression.
I agree, but ultimately it is the individuals decision to engage in rampant consumerism and accumulate debt.
Yeah cause getting into crippling debt is a totally conscious choice /s lmao
With the exception of debt from unexpected medical costs , yes it is a conscious choice.
Lmao no it isn't.
Could you elaborate?
But what about all those reward points I am missing out on? If I spend big now, in a decade I may be able to cash them in on a shitty kettle.
Credit card companies: "We'll give you 1% cash back and charge 25% interest"
Americans: "Wow 1%! This is a great deal!"
Part of the problem is you have to build credit to buy a house or car, and cards are the best way to do that.
But for many it is easy to get behind and they will eat you up quick. The whole system sucks.
You don't need credit to buy a car, only to finance one. I bought my current car used and with cash and plan to do the same for my next one. Cars are a terrible thing to finance because they lose value so quickly.
If you want to build credit for a mortgage, use it to pay for a recurring monthly payment like car insurance or a phone bill. Pay it off every month and dont use it for anything else.
Yet another example of how car-dependent zoning is a trap. Imagine the financial freedom people would have if they didn't "need" a car in the first place!
Absolutely. Fuck cars.
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Why do you need a credit to buy a car? You don't.
You don’t as long as you have enough cash to get something and keep it running. There is a huge market for predatory car loans for people that need a car but have shit credit.
A car is a privilege, not a right. If you can't afford it - use a bus instead.