Chris S: Should they redefine the definition for “credit card”?
With more people sinking themselves into debt by using credit cards as a extension of their income, it seems that most people really do not understand what a credit card is, or how it can impact their overall finances. Seeing society is in the norm of redefining terminology of so many words (eg. family room = great room), how about changing the word “credit card” to “temporary loan cards” or something that indicates the use of these cards are not just an impact against your credit score. I really think people do not fully understand what the term means or how to use a credit card.
Answers and Views:
Answer by Life Is Better After Retirement
You make a good point, but the HIGH PROFIT for more profit c card banks would never do that.
I don’t mean to sound harsh but I have had credit cards for over 35-years and never had a problem because I took the time to read and understand the terms and conditions.
Plus I always pay my cards off in full every month so I can collect the cash back rewards, never pay interest or fee’s.
I make several hundred dollars a year doing this and I don’t in the least bit feel sorry for people that are not smart enough to do the same.
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