slate.com — The most revolutionary notion in commerce today is one of the oldest. If you want to buy something, you may actually have to pay for it. We are reverting from a "borrow and buy" economy to the "cash and carry" model of our grandparents.
Aug 31, 2008 View in Crawl 4
twigboyAug 31, 2008
my Visa debit card works as a CC, and my limit is what i have in my bank accountso a big f**k you to you boontobias
remccainSep 1, 2008
@EntrophyFan - Do you understand that cutting up the credit cards does not mean never owning a house or car? Hell, credit cards didn't even exist before 1946. How did people buy a house or car? They would take out a loan from the bank and use the purchase item as collateral, that's how.
Closed AccountSep 1, 2008
No, living beyond your means is a bad idea. I'm tired of people saying credit is universally bad. Sure, you need to be responsible with it, but it can be extremely useful. Just because you can't handle your own money well doesn't mean everyone else is a total dumbass too.
bitorlogicSep 1, 2008
Serious question - What kind of security doesn't a debit card provide? A year ago some website I'd never done business with fraudulently charged my debit card for a small amount - about $13. I contacted my bank and the police. (Not much money, but it's the principle of the thing. Plus, I'm sure they charged countless others in hopes that people wouldn't bother challenging such a small charge.) I got the money back. I've used a debit card for online purchases for years and that's the only problem I've ever had.
carlososSep 1, 2008
Those terms come from accounting. Here are the definitions of the words:Debit - An expense, or money paid out from an account (taking money out)Credit - An accounting entry acknowledging income or capital items (getting money)
esc27Sep 2, 2008
Like many, I just use my card as a secure form of cash and pay it off every month, but having read this article I think I understand my aversion to mortgages better. I hate the idea of losing significant amounts of money in interest on a house loan (and if possible would much rather rent for many years then pay cash...) because I'm not used to losing money in credit card interest.
jefflundbergSep 3, 2008
@HamletlereI never understood that logic. If everyone is paying up to 6% extra, regardless of what method of payment they use, be it credit, debit, or cash, why would anyone not make their purchase on a credit card that gives them 1 - 5% cash back? Until merchants hang signs that say "Save 6% if you pay in cash", I'm going to use my credit card that gives me 5% back. If the merchant decides not to accept credit cards, I'm more likely to shop somewhere else. (And of course, I never carry a balance.)
wchurl1965Sep 6, 2008
CREATE A NEW FREE CREDIT PROFILE A CPN NUMBER, THIS NEW CREDIT PROFILE WITH A HIGH CREDIT SCORE CAN GIVE YOU ALL THE BENEFITS OF GREAT CREDIT, BUY A HOME OR A CAR.<a class="user" href="http://www.youtube.com/watch?v=t02TgzF1Sk4">http://www.youtube.com/watch?v=t02TgzF1Sk4</a>
pokey5Sep 15, 2008
You can increase your credit rating drastically with a credit card which is why a credit card is a very valuable tool if used correctly, unfortunately most consumers over spend and go wild which in turn results into disrespect for credit card companies and the financial market. Think smart, not hard.Pokey<a class="user" href="http://www.creditcards.com.au">http://www.creditcards.com.au</a>
greatme2Mar 3, 2009
Credit Cards are good but when you pay it monthly otherwise they are big giants.<a class="user" href="http://www.articleslide.com/articledetail.php?artid=123985&amp;catid=52&amp;title=What-Caused-My-FICO-Score-To-Drop-And-What-Affects-Credit-Scores?">http://www.articleslide.com/articledetail.php?arti ...</a>