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www.youtube.com/bestbuy - Musician and Best Buy employee, Keith Parsons, rocks his Best Buy holiday campaign audition.
327 Comments
- uncltim, on 08/31/2008, -13/+252About friggin time! God I hate finance industry scumbags.
Die by fire you prick bastards. - belumaves, on 08/31/2008, -5/+103sounds good. best advice I ever heard about credit cards: "if you have a balance on the card after paying your bill, cut up your cards" they are only good for reducing the amount of cash you carry, don't use it to live beyond your means.
- inactive, on 08/31/2008, -10/+96Good riddance!
- JoshuaLowe, on 08/31/2008, -4/+78Whatever. More like the temporary death of irresponsible lending and irresponsible spending until this storm passes, then back to the usual business of living beyond one's means and lending money to people who are risky. After all, the government will just bail both sides out all over again. There was no lesson learned from this.
There's nothing wrong with credit cards, they extend your purchasing power when used responsibly and they provide a layer of security in that debit cards give thieves direct access to your bank account. Plus there are a lot of rewards to using certain cards such as cash back, discounts, etc. But as a rule, you need to pay your credit cards in full every month. - primesucka, on 08/31/2008, -6/+80There is nothing wrong with credit cards. The problem is how people use them. Just pay off the balance when you get the bill and credit cards can actually be quite helpful in certain situations. It just takes a little self control and common sense to not buy stuff you can't afford. Geez.
- inactive, on 08/31/2008, -13/+58yes it's about time; i've never owned a credit card, you're better off waiting & saving your money to buy something rather than use a CC to get it now & risk paying interest on it.
if it only costs $400, I'm gonna pay exactly that. I'm not paying $440 to the bank because I used a plastic card to buy it. - jsdratm, on 08/31/2008, -2/+45I only use my credit cards for convenience and pay the balance right away. They are great for that, but I wouldn't dare to keep a balance on them.
- a1cd, on 08/31/2008, -3/+44To all the people bashing credit card companies... if you pay your ***** bill on time you dont have to worry about anything, and if you cant afford to pay it all at once buy less *****.
- durruticolumn, on 09/18/2009, -4/+44
Yes. You need to start building your credit. Purchase things on the credit card, and then set aside the actual cash to pay it off at the end of the month. Effectively, use it as a debit card. - yaddayaddayoda, on 08/31/2008, -1/+39If this is true, and we really are moving away from a credit to a pay-as-you-go society, there will be ramifications.
If credit card companies are not making money on new charges, they will do absolutely anything to keep you on the hook, paying your debt plus interest, forever.
Expect more penalties and interest hikes, if you maintain balances. Expect that they will lobby for more and more power to do more of these, and less and less power for the consumer. Witness the changes in bankruptcy law in the last few years as an example. - jggube, on 08/31/2008, -1/+38I paid off all my credit cards and cut them all up earlier this year. I'm never going to use credit ever again. It's a great feeling to have zero debt. Your money just drains away, and if you ever get stuck in a position where you can't make even the minimum payment - the finance charges on top of the interest fee - end up making your Starbucks cafe latte or Xbox360 game twice as much as what you bought it.
Don't use credit! - inactive, on 08/31/2008, -2/+35You guys never owned a house either huh? Credit is a tool to be used wisely, that is the problem. If you own a home, you have something on credit.
- ToKnow, on 08/31/2008, -2/+33I don't use credit cards to "borrow" money, I use them for security purposes (such as internet purchases). I immediately pay off my credit card after every purchase.
- mfc5200, on 08/31/2008, -1/+30What the hell are you talking about? I've used a credit card almost exclusively for the last 4 years and have loved it. Of course I pay of my balance immediately every month as though I was spending cash, and I don't buy anything unless I can afford it.
But basically, I can get an infinite amount of 0% 1-month loans on demand whenever I want. It is extremely convenient (don't have to carry around cash or make sure that my checking account has enough in it).
On top of all that, I get 1-2% cash back on every single purchase. I get a $50 check in the mail for no reason every 2-3 months.
And if you pay off your balance every time (which I always have), all of this is absolutely FREE.
If you are responsible enough to only purchase things you can afford, credit cards are wonderful.
Now of course, a ton of people abuse the privilege, but that is not my fault and I wish them the best of luck. - norman619, on 08/31/2008, -1/+29They don't like customers who pay off their balances on time. they love the people who are always late. It makes no sense. You don't have the money to pay on time so we are going to make you owe even more. That's insane to me.
I have lived just fine w/o a credit card and still have the toys I want. Living within your means is great. Knowing you can actually afford the toys you want is fantastic. It's a pretty basic principle we are taught when we are kids and getting an allowance. If you want something and it costs more than what you have on hand you must save up for it. Crazy concept eh? - Ajajadude, on 08/31/2008, -0/+26If you're going to use a credit card, don't buy anything you wouldn't otherwise buy if you didn't have it.
- flyindutchman, on 08/31/2008, -3/+29The comments in this article are proof that digg has been overrun by kids.
Credit cards are not evil. You need credit to function in today's society. Try buying a house or car without ever having a credit card. IF you get the loan, you will be paying very high rates compared to someone with credit history.
Get a credit card and use it, but pay it off every month. If you don't carry a balance, credit cards are good. It is that simple. - sjbdallas, on 08/31/2008, -9/+34"never owned a credit card"
You mean a credit card has never owned you. Once you start using them you're in indentured servant to the credit industry. - xeemo, on 08/31/2008, -16/+41***** the credit card companies
- SoulDesigner, on 08/31/2008, -1/+25How much do you think house or a car would cost if there was no such thing as credit?
Credit allows poor people to bid up the price of items they shouldn't otherwise afford. Recent house price boom for example. - dood, on 08/31/2008, -2/+25I agree with the sentiment: never pay interest. Why pay 10-30-100% more for an item, just to have it now?
But, for now, credit cards are still useful. They act as a safety barrier between random merchants and your checking account.
That might all change if people stop carrying balances on credit cards, but I don't believe that will actually happen forever. - Cwolf267, on 08/31/2008, -1/+24Irresponsible Lenders + Irresponsible Spenders = One giant facepalm
- DiscoLando, on 08/31/2008, -1/+23There's a vast difference between financing a house at 6% and financing a toaster at 24%. A home is the only thing I would ever suggest someone financing, and that's after making a sizeable down payment.
- bobjrn2, on 08/31/2008, -3/+24You're retarded. You obviously know NOTHING about how a credit card works. You only owe interest on a credit card if you leave it on your monthly balance, if you pay it off, you dont owe interest, and if you are smart, you even make money from rewards points.
The credit card industry is the best thing to ever hit this economy. Don't blame credit card companies for people's irresponsible use of credit cards. Would you rather send a check to people you buy ***** from on the internet? Would you rather carry all the money you own in your wallet for a thief to take? Would you rather lose HUNDREDS of dollars of coin change a year? Credit cards are to the economy what roads are to transportation, an asset we would have a hard time living without. - Bhima, on 08/31/2008, -2/+21Did the same thing in 2002. Really, Really changed my life... and for the better
- norman619, on 08/31/2008, -3/+21Credit should only be used for big ticket items like a home or a car. It doesn't make much sense to buy most anything else on credit.
- Outdoor83, on 08/31/2008, -2/+20Yeah, what's up with these people? This article makes it sound like you get more money and can spend more if you have credit cards. Last I checked, credit cards didn't spawn money from nowhere (actually, I think it's the opposite). Saying people can buy "dinner and a movie" where now it's "dinner or a movie" is unbelievable.
Carrying credit card debt over the long term *reduces* your capability to buy things, not *increases* it (as the article hints).
Do people really think this way? Are they that irresponsible? - kd1s, on 08/31/2008, -0/+17I switched to a cash basis several years ago and it definitely has benefited me to do so.
Hopefully we'll see savings rise this time around and perhaps we'll see a reduction in the crass consumerism that seems to have overtaken us. This will force manufacturers to build durable goods again, imagine that concept. - chmcarro, on 08/31/2008, -0/+17I love using my credit cards. They are great if you are responsible with it and pay it off each month. It's like getting 1% off everything you buy, if you keep up with the rewards program. And there are ones that will reward you even more for gas and groceries. They are betting that you spend more than you pay, so think of it as a game of "you vs. them" and come out ahead.
- yugnats, on 08/31/2008, -1/+15"Die by fire you prick bastards."
Best. Comment. Ever! - inactive, on 08/31/2008, -0/+14Yeah, the lack of logic by many Diggers here is really astounding. So many people proclaiming the evils of credit when in reality, credit ***can*** be a great tool if used properly. It's like saying swimming pools are "evil" because people drown in them every year. The consumer is ultimately responsible for their downfall.
I also laugh at the people who proudly proclaim they don't own a credit card who will get turned down at every avenue in the future if they ever try to buy a home or car and realize they have no credit history. - JigoroKano, on 08/31/2008, -1/+14I never had a credit card, and then I couldn't rent an apartment because I had a non-existent credit rating. I had to get a cosigner.
- afruff23, on 08/31/2008, -0/+13@Ajajadude
Finally, somebody with common sense. Credit isn't a bad thing for consumption if you don't spend beyond your means. And it isn't a bad thing for investment if you stand to make more by borrowing now than later after considering interest. - byikes, on 08/31/2008, -1/+14Living Debt free!! and its pretty nice
- FutureGuy, on 08/31/2008, -4/+17I love the credit card model, I think its awesome. See, I always pay off my credit cards and don't carry any balance but I am sure there are a lot of dumb wits who don't and they help pay the interest on the money I have saved up, thanks a lot, banks like ING Direct pay decent interest, that money has to come from somewhere. If you think you are smart don't ever carry balance on a credit card unless its an emergency and even then not for more than a couple of months.
- norman619, on 08/31/2008, -3/+15No they don't like it they are addicted to it.
- durruticolumn, on 09/18/2009, -1/+13Lines of credit and credit cards can be fine if you're really strict about your finances. Keep spreadsheets, read the fine print, calculate your interest, etc. If you want to make a $2500 purchase on a 9.99% APR credit card, assume you won't be able to pay it off for two years. Are you comfortable paying an extra $280 in interest over the next two years? Can you bargain hunt the purchase down to $2200, somewhat canceling out the interest? I feel these are all skills I should have learned in high school, but instead had to figure out myself. Now I keep spreadsheets, receipts, records, etc. I always know exactly how much money I effectively (ie, assets - debts) have, as opposed to how much money I think I have.
Also, follow the rules to keep your credit score up! Don't use more than 30% of your credit limit, and pay it off as well as you can at the end of each month. Remove any derogatory items immediately, and dispute any incorrect information on your report.
As an aside, in this day and age of the internet, why can't I see my FICO score change day to day? Why do I have to pull a 10 page report, instead of subscribing to a service that gives me regularly updated numbers right in my browser? Does anybody know of a service like this? - cruzlee, on 08/31/2008, -1/+13If you can't pay once now, you won't be able to pay twice tomorrow.
- DiscoLando, on 08/31/2008, -1/+13If you think living requires that you finance 20k on a car, then you deserve to be up to your eyeballs in debt. I'll stick with spending cash on a good, reliable used car.
- stonebear, on 08/31/2008, -1/+12Perhaps you aren't aware that even your ING account doesn't keep up with [true] US inflation. Any of your savings held as dollars are actually losing value just sitting there. Most people think of that as dumbwitted, but I am not one to judge. You should be aware also that said inflation is caused directly by banks lending money they don't have, which is what makes the credit card economy possible.
- geoboy, on 09/01/2008, -0/+11Really? If you think about it, having debt technically makes you somebody else's bitch.
- imneat, on 08/31/2008, -0/+11Credit cards are great for people who know how to use them well - like those commenting that they pay their balance when due and have no fees. The problem is that most people don't understand how to use them effectively, and see them as a good way to debt finance.
I too would like to say good riddance to credit for individual consumers. Enough living beyond our means. Leave leverage and the like to companies and professional organizations. - whorunbartertwn, on 08/31/2008, -0/+10Credit cards give you much stronger buyer protection and fraud protection.
- geoboy, on 09/01/2008, -1/+11Exactly, Ajajadude. Think of credit cards as a monthly money buffer. If you get paid twice a month like most people, your income comes in two very large spikes. Using a credit card to buy things and pay bills smooths out those spikes. This also gives you more freedom to put your money to work in investments like afruff23 mentioned. And let's not forget extra perks some credit cards offer such as rewards and extended warranties for some things you buy with it. And you won't have to pay a dime in interest to get those rewards if you pay off the balance in full every month.
So as long as you live below your means and manage your credit cards responsibly, they can prove to be a valuable money tool. - DentThat, on 08/31/2008, -0/+10Don't be stupid. If you don't have the money, then don't buy anything. I've racked up $150 in credit card rewards
Take advantage of it - BelatedHero, on 08/31/2008, -0/+10Great Frontline show about the credit card industry:
http://www.pbs.org/wgbh/pages/frontline/shows/cred ... - inactive, on 08/31/2008, -5/+15though you are doing the right thing, having a cc is not necessarily a bad thing, some hotels and car rental companies only take cc and not a debit card so yes it is convenient.
and a big ***** you to you for making ff13 multiplatform, buddy - IphtashuFitz, on 08/31/2008, -2/+12I agree in principle. All the comments about people cutting up their cards and never using them is good up to a point. But realistically I still think it's a good idea to have a credit card, as long as you use it wisely and don't let it trap you into spending more than you can. It's a lot easier to pay for some things like gas with a credit card since most gas pumps (at least here in the US) have credit card readers built right into them. But more importantly, if you find yourself in a difficult situation without access to an ATM then a credit card can be a lifesaver. I once had my car break down on me in the middle of nowhere. I got it towed back to my mechanic around 9:00 at night, and the only way I got a loaner car from them was thanks to having both my drivers license and a credit card with me. They simply wouldn't have taken a cash deposit. I much prefer having a credit card in my wallet to a pile of cash, but I also make absolutely sure to not use it for impulse buying and to pay it off in full every month.
- mfc5200, on 08/31/2008, -1/+10Also, because I get 0% loans on demand, that means that money can sit in a savings account for the meantime at around 3%. So If every month I spend $3,000, that means roughly I can earn an extra $90 a year from having a credit card, else that money would have to be in a checking account for use with a debit card where it is not earning interest.
- inactive, on 08/31/2008, -2/+11The baby boomers got filthy rich while putting their kids and grandkids into debt that they will probable never see paid off.
The National Debt is over $9 TRILLION and growing around a BILLION dollars a day. Baby boomers have been at the helm of the country for the past 3 decades and have taken America from the largest creditor nation to the World's largest debtor nation. And now, they want us to pay for their retirement and health care when they get old so not to disturb their high quality of life while the other generations find out that the American Dream is a lie and most people in the U.S. could not survive being out of work for more than a month without going into financial ruin.
The WW2 generation is known as the Greatest Generation but they spawned the Baby Boomers and the Nation's Worst Generation. -
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