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Credit Cards Are Scary
10 months ago
In most of my adult life, I've had a banking account.
And in my banking account, I've kept myself to only having a debit card to my name and my logic was simple, credit cards are fucking dangerous and I didn't think I needed one. If I didn't have the cash in my bank account to do what I needed then I just didn't need to buy it.
And yet I kept getting prodded with it.
"You should get a credit card. It'll help your credit score." they say, because we all know how that works with banks talking to each other and determining how worthy you are as a person.
So fine, a couple years back I got a credit card; nothing special, just one of those bog standard cash-back types that I didn't have to pay for because I just do not see the logic in paying for a piece of plastic.
And for the most part, I don't mind it as much as I thought I would. So long as you understand the difference that buying something with a credit cards means you don't own it, the bank does, and then you pay the bank back for it, things are great. And pay it off frequently so that there's never any chance of an outstanding balance carried on it that becomes subject to their extortionist interest rates for doing so and exceeding what you actually have in your bank account.
And yet it seems the bank does everything in their power to just...go against this.
The credit limit on my card has been for the longest time, nine thousand four hundred dollars.
Dude, that is plenty for me. If I ever need ten thousand dollars worth of shit on a credit card I'm exceeding my means of operating.
...and here recently I notice that there's now a "one" preceding the dollar amount of what I can buy with the card. I...honestly kind of thought it was a glitch of sorts, because even looking at the statements even the most recent one only listed a credit limit of nine thousand four hundred dollars. In fact, I'd say about a week went by before the bank actually sent me an email about it.
"Congratulations. We've increased your credit limit to $19,400, effective immediately."
No reason.
Just "we're doing this for your benefit" things.
Dude this shit is terrifying. NINETEEN thousand dollars!? Who needs this!? I can now purchase so much shit on a piece of plastic that it would exceed my bank account balance entirely. And escaping from a "variable daily interest rate of 28.49%" for carrying a balance would be utterly impossible.
Now logic and sense is telling me NOT to, but where is it even logical to put that into a common persons hands anyway to begin with? I was just fine with the nine thousand dollar limit; never even close to it; but nineteen thousand dollars just seems obscene.
--Mozdoc
And in my banking account, I've kept myself to only having a debit card to my name and my logic was simple, credit cards are fucking dangerous and I didn't think I needed one. If I didn't have the cash in my bank account to do what I needed then I just didn't need to buy it.
And yet I kept getting prodded with it.
"You should get a credit card. It'll help your credit score." they say, because we all know how that works with banks talking to each other and determining how worthy you are as a person.
So fine, a couple years back I got a credit card; nothing special, just one of those bog standard cash-back types that I didn't have to pay for because I just do not see the logic in paying for a piece of plastic.
And for the most part, I don't mind it as much as I thought I would. So long as you understand the difference that buying something with a credit cards means you don't own it, the bank does, and then you pay the bank back for it, things are great. And pay it off frequently so that there's never any chance of an outstanding balance carried on it that becomes subject to their extortionist interest rates for doing so and exceeding what you actually have in your bank account.
And yet it seems the bank does everything in their power to just...go against this.
The credit limit on my card has been for the longest time, nine thousand four hundred dollars.
Dude, that is plenty for me. If I ever need ten thousand dollars worth of shit on a credit card I'm exceeding my means of operating.
...and here recently I notice that there's now a "one" preceding the dollar amount of what I can buy with the card. I...honestly kind of thought it was a glitch of sorts, because even looking at the statements even the most recent one only listed a credit limit of nine thousand four hundred dollars. In fact, I'd say about a week went by before the bank actually sent me an email about it.
"Congratulations. We've increased your credit limit to $19,400, effective immediately."
No reason.
Just "we're doing this for your benefit" things.
Dude this shit is terrifying. NINETEEN thousand dollars!? Who needs this!? I can now purchase so much shit on a piece of plastic that it would exceed my bank account balance entirely. And escaping from a "variable daily interest rate of 28.49%" for carrying a balance would be utterly impossible.
Now logic and sense is telling me NOT to, but where is it even logical to put that into a common persons hands anyway to begin with? I was just fine with the nine thousand dollar limit; never even close to it; but nineteen thousand dollars just seems obscene.
--Mozdoc
Your never in dept if you have the ability to pay it off 100% same times there are good dept like mortage when it was 3% in a world of 6% inflation.