Credit Cards May Be Better Bargain Fo...

Credit Cards May Be Better Bargain For Holiday Shopping | WBNS-...

There are 21 comments on the 10TV WBNS story from Dec 14, 2009, titled Credit Cards May Be Better Bargain For Holiday Shopping | WBNS-.... In it, 10TV WBNS reports that:

For many people, the holiday season brings with it plenty of debt - 12 million people nationwide have still not paid for their credit card purchases from last year.

Join the discussion below, or Read more at 10TV WBNS.

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ForX2U

Columbus, OH

#1 Dec 14, 2009
You've got to love it when the media promotes the use of credit cards.
Rob

Columbus, OH

#2 Dec 14, 2009
i always use my credit card for everything. i get 1% cash back on everything and 3% on my top..3(?) categories.(from chase bank) then i pay my card off every payday...which is every 2 weeks. they call it "dollars" instead of "points" but when i get 200 "dollars" i can exchange them for a check for $250. its awesome! in the last 3 years i think i've gotten 3 checks for $250 on things that i buy anyway and i've never paid a red cent of interest.
Chris

United States

#3 Dec 14, 2009
This article is hilarious. Rob, you are in the minority being a responsible credit card user. The truth is most people don't pay off their credit cards every month. If they did, the credit card companies would be out of business because they wouldn't be able to collect interest. If people want to make banks and credit card companies money in exchange for the chance at "points" or "rewards" go right ahead. But to justify using a credit card for holiday shopping because it is easier to return items, that's idiotic.

I've got a better idea. How about everyone budget for the holidays (they happen the same time every year) and pay cash for their items. This way, it won't end up following you around with interest for the rest of the year.
Knows from experience

Columbus, OH

#4 Dec 14, 2009
If the debit card is ran through as a credit purchase, it IS covered by the Visa/Mastercard purcahse protection. It's only not covered when the PIN is used.

So if you have a Visa/Mastercard debit card and you run it through as a CREDIT - then yes, it's covered and the only liability you *might* have is $50; which is often times waived by Visa/Mastercard (as it was in my case).

It upsets me how facts can be massaged or left out for the sake of a good story. It's crap like this that scares my parents. Not cool 10-tv...
Josh

Arlington, VA

#5 Dec 14, 2009
This is a surface-level at best attempt at reporting. Not only do debit cards have the same protection (as mentioned above and see the card websites), advising people to use credit has a long track record of failing.

This angle makes me think there is some major credit card advertiser pulling the editorial strings over there at 10TV. It may not be the case, but it makes you wonder.

There are several studies that show you pay more with credit cards vs debit or cash. The people that think you can get rich with points or 1% cash back are the same ones that are probably advocating we "spend our way out of the slow economy."

How about an old fashioned "method" that works every time - save up and pay cash for things you want.
Heath

Lewis Center, OH

#6 Dec 14, 2009
...."12 million people have not paid their credit card purchases from last year..."???? Are you kidding me with this? You 12 million people are idiots. How do you sleep at night?

Suze Orman is furious with banks and crdeit card companies and has challenged the country to simply pay cash for everything. We all need to go back to the "good old" way....if you don't have the cash, you ain't buyin' it!!!!

“Defecting to Mexico”

Since: Sep 09

Location hidden

#7 Dec 15, 2009
Unless you pay it off every month (which most don't do) don't use credit cards. You'll save yourself a ton of money over your lifetime by saving and using cash to make small and medium purchases.
Caring

Troy, OH

#8 Dec 15, 2009
The bad thing about credit cards is that the banks / company raise the rate for the finance charges after Xmas - at that point, you are stuck with the bill.
Astounded in OT

Columbus, OH

#9 Dec 16, 2009
Chris wrote:
This article is hilarious. Rob, you are in the minority being a responsible credit card user. The truth is most people don't pay off their credit cards every month. If they did, the credit card companies would be out of business because they wouldn't be able to collect interest.
thank you for the compliment and i understand your point but really the CC cos dont exactly LOOSE money on people who pay off their cards since they charge the companies who accept the cards a fee of about 4% for the privillege of doing business. you are correct, however, in spirit, since MOST of what they make is in interest and fees.
BATUKETA-BONDO LUSILAVOVO

Calgary, Canada

#10 Dec 17, 2009
I have bad credit but now have a good job and this card can help me when renting car if mine is broken going to the garage for something to repair on and when I have to buy diesel in gas station.
BATUKETA-BONDO LUSILAVOVO

Calgary, Canada

#11 Dec 17, 2009
I'm looking to repear my credit if you can help, I have now a good job,
Rob

Columbus, OH

#12 Dec 17, 2009
BATUKETA-BONDO LUSILAVOVO wrote:
I'm looking to repear my credit if you can help, I have now a good job,
and if THAT isnt an invitation for fraud, i dont know what is. how about i help you by telling you that you should never NEVER trust anyone on the net???(and only about .001% of people in real life)

“Defecting to Mexico”

Since: Sep 09

Location hidden

#13 Dec 18, 2009
Rob wrote:
<quoted text>
and if THAT isnt an invitation for fraud, i dont know what is. how about i help you by telling you that you should never NEVER trust anyone on the net???(and only about .001% of people in real life)
That's good advice. I don't even trust my wife with my money.
Rob

Columbus, OH

#14 Dec 18, 2009
Net Guru wrote:
<quoted text>
That's good advice. I don't even trust my wife with my money.
well, if your wife is a woman, then i'd say thats a smart move.

“Defecting to Mexico”

Since: Sep 09

Location hidden

#15 Dec 21, 2009
Rob wrote:
<quoted text>
well, if your wife is a woman, then i'd say thats a smart move.
LOL. Yes she is a woman, at least that's what her boyfriend told me.
Jack Flannigan

New York, NY

#16 Dec 21, 2009
Guru - If your wife has the same attitude as mine "Our" money does not survive - it goes directly into the general fund. Generally gone after it comes home.

“Defecting to Mexico”

Since: Sep 09

Location hidden

#17 Dec 22, 2009
Jack Flannigan wrote:
Guru - If your wife has the same attitude as mine "Our" money does not survive - it goes directly into the general fund. Generally gone after it comes home.
My wife's philosophy is that her money is her money and my money is her money. Since I make 4 times what she makes that seems to work out well for her.

Since: Jul 10

Delhi, India

#18 Aug 3, 2010
Worst.... happens with the fast payday loans is that they are with high interest rates and the repayment term is very short.
sjm

Columbus, OH

#19 Aug 3, 2010
Well, I'm the financially responsible one in my household and there is no way in Hades I would go out and destroy myself financially for a holiday that has become nothing but a commericalized bastardization of what it is supposed to be.

I can't believe when this country is STILL mired in financial troubles caused by over-extension and misuse of various forms of credit that any REPUTABLE news agency would be promoting frivoulous use of credit cards to the masses.

Since: Dec 09

Delhi, India

#20 Aug 3, 2010
the use of credit cards is good for as long you pay your monthly debts on time...othwise the credit card debt is a great reason of bankruptcy...

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