I used to work as a collection agent for one of the big credit card issuers, worst job ever lol.. Its amazing how easy ones credit can be ruined by
just being even a few days late with your payment. Youd think that the banks would want you to make huge payments to get the debt paid off quickly but
that isnt always the case.
We would encourage customers to make the minimum payments due every month so that the maximum amount of debt would accrue the maximum amount of
interest on the account, making the company more money.
Working for this company opened my eyes to how these companies/banks work and being able to see it from their perspective was what caused me to leave
that line of work, cancel all my cards and pay off the truck I had, never to buy another vehicle on credit again.
I've been saving up for years to buy a home with cash to avoid the ball and chain called a mortgage and working one or two more major hurricanes will
allow me this opportunity.
Some people see credit as a "godsend" that allows them to live way beyond their means but it comes at a great cost.
I wouldnt go as far as to say that debt is a government conspiracy against citizens but it is certainly a form a control and there is nothing that I
hate more than someone trying to control me in any way.
By the way, good topic multi. Most people dont see debt as a problem until its got them firmly in their grasp and its to late.
Some even see their debt as some type of "badge of honor" in some twisted way, bragging about how high their mortgages or car payments are
While its true that you need a Visa/Mastercard to do many things, rent a hotel , a car or whatever but a Check Card will substitute just fine. Also
there are many ways to obtain a pre-paid card, I have one that I gave to my 13 year old. When he does good, which is most of the time lol, I add some
funds and when he doesnt, I take away.
[edit on 7/19/2007 by Kr0n0s]