Comments | fpb: As I always say, DEBT IS NEVER YOUR FRIEND. Only spend the money you have, and not all of it either

fpb

As I always say, DEBT IS NEVER YOUR FRIEND. Only spend the money you have, and not all of it either

Nov 07, 2011 08:16

http://www.cracked.com/funny-4179-credit-cards/

economic crisis, lessons for living, credit crunch

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la_mariane November 7 2011, 10:06:03 UTC

That's why I don't even have a credit card and refuse every time my baker tries to sell me one. Some practices of the banks are just legal robbery in my opinion.

la_mariane November 7 2011, 10:07:20 UTC

I'm tired and I can't spell, damn it! My banker tries to sell me credit cards, my baker is much nicer and gives me croissants.

fpb November 7 2011, 12:52:49 UTC

I did wonder. I only have a debit card, which can only spend money I actually have, and I always refused to have an overdraft limit on my account. I've learned it the hard way.

shezan November 7 2011, 18:27:19 UTC

I have only a debit card with my (nice) bank in Britain. In the US, I had to INSIST MANY TIMES to repay ENTIRELY at the end of the month whatever credit card bills I incurred. The system was GEARED to only let me pay minimum. Screw you, Citibank.

In France, "credit" cards basically work as debit cards you repay at the end of the month (giving you a couple of weeks' grace, in fact) unless you have specifically arranged with your bank to pay on tick. Also, "Usury" rates are illegal: currently this cannot exceed 21% for small consumer loans (it falls to around 18% above €3,000 and under 11% when you borrow more than €6,000). IOW, we are all descended from French peasants WHO DO NOT BELIEVE IN DEBT.

fpb November 7 2011, 18:30:12 UTC

Likewise we from the boot-shaped land. (With a few exceptions, alas.)

fpb November 7 2011, 18:31:49 UTC

P.S.: you and la_mariane are fellow countrywomen.

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