paying higher rates to use credit cards

xarjia · #1 (**permalink**) 12-11-2007, 09:01 AM

hey.

Doesn't seem like it's a good time to overspend on our credit cards or get loans at the moment.

The article in the times today said that analysts are predicting higher charges to borrow money and higher rates to use our credit cards.

is this going to affect us now?

Triton · #2 (**permalink**) 12-11-2007, 11:52 AM

It's never a good idea to overspend on your credit cards, regardless of interest rates.

You should never buy something that you can't afford in the first place. Credit cards are a great tool but you need to know how to use them otherwise they will have a great negative impact on your balance sheet.

xarjia · #3 (**permalink**) 12-14-2007, 12:06 PM

thanks

newbie · #4 (**permalink**) 01-29-2008, 02:38 PM

Here here

Felix · #5 (**permalink**) 07-22-2008, 03:45 PM

Quote:

Originally Posted by Triton

It's never a good idea to overspend on your credit cards, regardless of interest rates.

You should never buy something that you can't afford in the first place. Credit cards are a great tool but you need to know how to use them otherwise they will have a great negative impact on your balance sheet.

+1 agree