Comments on: “Credit Cards Are For Old People”

By: J. Money

J. Money — Fri, 01 Jul 2011 16:45:07 +0000

Agreed :) And also, in TRUE emergencies having a credit card could also be very very important if they ever get stranded or in trouble/etc. It always made me feel REAL secure knowing i had one in my pocket throughout college just in case.

By: Sabrina

Sabrina — Thu, 30 Jun 2011 22:23:17 +0000

I do prefer cash over credit. However, I must admit that my credit card does come in handy. I’m not a parent, but if I was I would start teaching my child how to be financially smart at an early age. Kids are pretty impressionable and observant at a young age. Your cousin definitely proves that.

By: J. Money

J. Money — Thu, 23 Jun 2011 23:36:11 +0000

@South County Girl – Very true indeed – sometimes simple IS better! It’s too bad we get so jaded over the years and have so many things rolling around in our heads every time we make a decision ;) Athough it obviously helps with decisions too, haha…
@Molly On Money – That’s a cool idea! And once the money’s gone, it’s gone – no building up interest or trouble until they get their next card, I like it :)
@crashdamage1957 – Right. Pre-paid or debt cards are nice in-betweens that save you the hassle of using straight up cash, but also don’t get you in too much trouble if you stick to your guns.
@Jen – Haha, perhaps. But only if he has a radio w/ him when he fishes – that’s pretty much all he does these days ;)
@MariaN – That’s interesting about video games = killing and how people perceive it nowadays/etc. I know there’s research done on this allll the time just like they did when rap music came out (and people sill say that’s bad! which I don’t agree with), but I haven’t really paid enough attention to say I fall on one side or the other. It’s certainly pretty fascinating though :) And I’d throw in “local news” in there to cuz all that violence is in there every day too!

As for Debit cards – yeah, if I ever gave up my credit cards I’d totally revert to those in its place. It’s super convenient and keeps you out of trouble a lot more. I think it would just scare me more for two reasons: 1) If it’s stolen and used before you catch it, your money goes bye-bye a lot faster than w/ credit, and 2) I’d feel less secure not having that large credit limit there (mine are $25k and $30k). Obviously I’d never need to max out either of those for an emergency that would come up, BUT I like knowing I hace access to it just in case something scary DOES come up. Esp that would cost more than what I have in my checking account (not sure what that would be, exactly, but ya never know).
@Catherine Turley – Yup! In cases like those I try and do the same thing :) I know what it’s like to run a small business and those fees DEF add up!
@Kelsey Horner – Yeah, that would be awesome of you :) I slip every now and then when I don’t actually HAVE the cash on me to begin with, but if I do I always try to pay with that first, and then use card as last resort. If they have an ATM it helps too, but then you’re paying THEM to use cash! haha… (but maybe you really want to help them out? :))

By: Kelsey Horner

Kelsey Horner — Thu, 23 Jun 2011 19:09:48 +0000

I never really thought of the cost to the business when it’s a small, local business. I’ll definitely rethink using the credit card at smaller shops from now on!

By: Catherine Turley

Catherine Turley — Thu, 23 Jun 2011 19:01:02 +0000

i never even thought about not using my credit card until my favorite little vegan restaurant pointed out that they don’t have to pay as much if customers use cash. i now use cash at all mom and pop stores.

By: MariaN

MariaN — Thu, 23 Jun 2011 07:08:02 +0000

Good morning, J. Very interesting post; and a contentious one, I think. I agree that ‘Cash is King’, I am afraid. Credit cards are a bit like other ‘removed mediators’ – they tend to mask relationships further and make actions easier. Actions, like spending money we don’t have, on crap we don’t need, killing the planet meanwhile. It is a very similar set up to the latest weapons systems – they are like playing computer games. People are so removed from the consequesnce of their action that it is a play. As a result, killing is easier, I believe.

I still have loads of CC (with frightfully high limits) and use some of them; but given what I have just written I suspect this is not going to last long. How about Debits cards though?

By: Jen

Jen — Thu, 23 Jun 2011 00:09:13 +0000

I’m thinking your nephew has been listening to Dave Ramsey..as one of his mottos (that he says at the beginning of almost every show) is “Debt is Dumb, Cash is King!” Or maybe he’s just smart!

By: crashdamage1957

crashdamage1957 — Thu, 23 Jun 2011 00:02:13 +0000

It seems to me that pre-paid C’cards would be a good hybrid between charge cards and cash.. the convenience of a card, with the limit that you woudl have to have the cash to load the thing in the first place.except that right now, the excessive fees and arcane use -it- or- lose -it rules make them a really poor alternative choice.

By: Molly On Money

Molly On Money — Wed, 22 Jun 2011 22:44:58 +0000

Visa makes a gift card that you can spend at most stores. My kids got them one year. It was a little weird because it felt like they were being trained to use their future credit cards. I’m a parent that teaches thoughtful spending but it can be tough-merchandisers do impulsive spenders and will do almost anything to make it happen.

By: South County Girl

South County Girl — Wed, 22 Jun 2011 22:32:13 +0000

Sometimes I have to say kids have it right on. They aren’t hampered down with all these technicalities… Simple is Better…

Hope my future goobers are savvy.