Well, this really threw out a tissy, to say the least. I got scolded that I didn’t know what I was talking about. That we all might as well go back to “horse and buggy” days. How using credit cards is better for our whole consumer economy, how getting all the cash back percentages helps individuals and that people who end up in debt are basically stupid. How renting a car could not be done without a credit card. I was told I had a lot to learn and that I had no right to give out advice on something I knew nothing about. WOW.
So my final reply was this:
“I’m so sorry you feel as if I don’t know what I’m talking about. Yes, I have rented cars with my checking account debit card, yes I am able to also save money in very many other ways besides using cash back rewards from creditors. And I certainly commend all the people who use their credit line or lines responsibly, but the situation of high percentages of people who don’t outweigh those who do, unfortunately.
I have never had a problem with my checking account being wiped out by fraudulent transactions. I only transfer a minor amount of money in there to use, as I need it for spending purposes. That’s what my advice is based upon and it does work for a lot people, who don’t wish to use credit cards – whom have had a problem with them in the past- as I did. Millions of young adults are in the throws of overspending before they actually have money or the ability to earn the kind of money they want to spend. Credit lines make it far too easy and tempting for these financial problems to happen for young adults and that’s a fact.
Please don’t question my creditability based on only your opinion, just because you don’t understand my advice, nor understand my goals. Our children and young adults of this nation really do need some serious help with math skills, decent consumer skills, budgeting practices and ethics for saving money. I still really think there should be more control from the creditors, to help be a part of solving the credit card debt crisis. It really does SUCK to be in major credit card debt and have to dig yourself out of it. If you’ve never experienced that mistake, then you have no right to judge that I don’t know what I’m talking about.”
Has anyone here heard or seen anything more about certain creditors putting spending limits on people way before they have even reached their credit limit, due to patterns of too many transactions in a short time? What do you all think?