TheRealMafoo said:
HappySqurriel said:
ManusJustus said:
HappySqurriel said:
Is a credit card a necessity?
Therefore you have at least one meaningful alternative which is to not have a credit card ...
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Your argument is getting a bit ridiculous. I cant imagine how inconvenient life would be without a credit card. No more online shopping, having to carry large amounts of cash on you at all times, and trying to pay for goods and services where the payment is expected to be through credit cards. Thats not to mention loans, which is the only way that many people can pay for housing, cars, tuition, etc.
I can see the pain in your logic though. You desire for the free market to be infalliable (which actually isnt a true 'free' market since society hasn't had one since the Stone Age) so instead of going with the simple and best choice of having government regulate bad business practices, you instead opt for not letting uneducated people get credit cards and loans until they finish a government provided training course for financial and legal matters.
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You do realize that most credit card companies have pre-paid cards which function exactly like a credit card?
Were you also aware that there are these things called "Banks" which offer debit cards which function like cash without the need to cary cash? These banks also offer a wide variety of loans with much better terms then credit cards do. There are also credit unions which operate in a similar fashion to banks when it comes to loans, and depending on your career may offer better terms than most banks?
The imagined need for a credit card is bullshit, and don't try to pretend that there are not viable options to not own a credit card.
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Plus you can get a Visa ATM card, that works like a Visa, but is just a bank debt card.
Oh, and here are some terms for a Credit Card. I think a very small percentage of the population can't understand this. To think otherwise, is just elitist bullshit.
https://onlineaccess.mycreditcard.cc/WebApps/express?Action=Tac.jsp
There is nothing about that, that would take a lawyer to understand.
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Not everybody can realize a good or a bad contract when they see one. And thats not to mention that contracts are heavily biased towards the company that creates them anyways, your examples included:
We may add, change or delete any of the terms of your Account and the corresponding Credit Card Agreement (including, but not limited to, Annual Percentage Rate and fees), at any time with or without notice.
Now, I doubt American Express would screw over thousands of customers and face the public backlash. However, I'm not entirely sure what powers that statement gives the credit card company, and what options I would have if my APR was increased to 150% overnight or if they bombarded me with fees from nowhere.
