Comments on: The Descent into Credit Card Debt http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Thu, 18 Mar 2010 14:29:53 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Smarter Finances http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-46450 Smarter Finances Sun, 14 Mar 2010 15:55:16 +0000 http://www.mint.com/blog/?p=4047#comment-46450 I've always been afraid of availing credit cards nowadays,in which I am very pacticular on budgeting. I'm afraid to be drown with debt with having credit cards. I’ve always been afraid of availing credit cards nowadays,in which I am very pacticular on budgeting. I’m afraid to be drown with debt with having credit cards. ]]> By: Scott http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-45581 Scott Thu, 11 Feb 2010 06:44:36 +0000 http://www.mint.com/blog/?p=4047#comment-45581 This is a great graphic. But anyways I just wish people would realize that credit card companies do not just give you money to be nice. It is how they make a living. Unfortunately, people are finding this out the hard way. This is a great graphic. But anyways I just wish people would realize that credit card companies do not just give you money to be nice. It is how they make a living. Unfortunately, people are finding this out the hard way. ]]> By: ErikP http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-45324 ErikP Fri, 05 Feb 2010 02:30:25 +0000 http://www.mint.com/blog/?p=4047#comment-45324 Predatory debt consolidators are like the fraudulent mortgage industry of the late 00's. Thank god congress is looking into legislation to regulate these organizations. Predatory debt consolidators are like the fraudulent mortgage industry of the late 00’s. Thank god congress is looking into legislation to regulate these organizations. ]]> By: Inspiration By Experience http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-44283 Inspiration By Experience Sun, 17 Jan 2010 14:28:34 +0000 http://www.mint.com/blog/?p=4047#comment-44283 The important part is to make our finance in the top priority. I agree with this statement : "It’s essential to stay on top of your finances, otherwise it is a spiral of debt due to the high interest rates these credit card providers charge." The important part is to make our finance in the top priority. I agree with this statement : “It’s essential to stay on top of your finances, otherwise it is a spiral of debt due to the high interest rates these credit card providers charge.” ]]> By: TheMechanic http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-43472 TheMechanic Wed, 23 Dec 2009 22:45:32 +0000 http://www.mint.com/blog/?p=4047#comment-43472 If people would just come to the relization that a initial 100-300. loan is basicly spent on things like junk food,gas,cigs,perscriptions,etc,etc,basically all the junk we never needed in the first place! Or we could have just saved that same money for a week or month thereby never getting on HELLS conveyer and creating this constant cycle that just benifits the rich bankers and elite.If they only knew how there own souls were at stake too!!!What gets me also is how they send out a 100. debit card for kids in there teens sucking them in under there vial stucture of simply loaning our own energy back to us hoping it entices us to start the downward spiral and these kids have no understanding of the dangers of this viscous cycle at that age which is very unjust and unethical in its self.If there was no DILLUTING credit system food would be cheaper or even free like it should be,houses would average 10,000 and would be easier to save and pay off entirly by SAVING (BEING THE KEYWORD) for and own from that point on,cars would be 1,000,etc.ITS A DILLUTING CODE PEOPLE and no one wins in the end IT ALWAYS LEAVES SOMEONE OUT.And heres a key point think about it like this can the mc donalds worker,walmart worker,immigrant worker or anyone making less than the 18,000 (aprox if im correct) or more minimum that is required to even purchase a car per say without any type of cosigner and working for years or even his entire life at that job quilify for the loan??? NO he can never make more then the minimum that is required to quilify NEVERRRRR,so by that simply principal SOMEONE IS ALWAYS LEFT BEHIND thereby creating a DILLUTING SYSTEM OR [CODE] being the key word,so no matter how hard you work or how good your credit is CREDIT ALWAYS WALKS ON THE BACKS OF OTHERS. BELIEVE IN GODS CODE PEOPLE IT IS THE MOST PERFECT AND BENEFICIAL TO ALL TRULY FAIR AND BALANCED NEVER LEAVING ANYONE OUT! jmo mechanic If people would just come to the relization that a initial 100-300. loan is basicly spent on things like junk food,gas,cigs,perscriptions,etc,etc,basically all the junk we never needed in the first place! Or we could have just saved that same money for a week or month thereby never getting on HELLS conveyer and creating this constant cycle that just benifits the rich bankers and elite.If they only knew how there own souls were at stake too!!!What gets me also is how they send out a 100. debit card for kids in there teens sucking them in under there vial stucture of simply loaning our own energy back to us hoping it entices us to start the downward spiral and these kids have no understanding of the dangers of this viscous cycle at that age which is very unjust and unethical in its self.If there was no DILLUTING credit system food would be cheaper or even free like it should be,houses would average 10,000 and would be easier to save and pay off entirly by SAVING (BEING THE KEYWORD) for and own from that point on,cars would be 1,000,etc.ITS A DILLUTING CODE PEOPLE and no one wins in the end IT ALWAYS LEAVES SOMEONE OUT.And heres a key point think about it like this can the mc donalds worker,walmart worker,immigrant worker or anyone making less than the 18,000 (aprox if im correct) or more minimum that is required to even purchase a car per say without any type of cosigner and working for years or even his entire life at that job quilify for the loan??? NO he can never make more then the minimum that is required to quilify NEVERRRRR,so by that simply principal SOMEONE IS ALWAYS LEFT BEHIND thereby creating a DILLUTING SYSTEM OR [CODE] being the key word,so no matter how hard you work or how good your credit is CREDIT ALWAYS WALKS ON THE BACKS OF OTHERS. BELIEVE IN GODS CODE PEOPLE IT IS THE MOST PERFECT AND BENEFICIAL TO ALL TRULY FAIR AND BALANCED NEVER LEAVING ANYONE OUT! jmo mechanic ]]> By: Credit Card Debt Girl http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-40710 Credit Card Debt Girl Tue, 20 Oct 2009 14:42:45 +0000 http://www.mint.com/blog/?p=4047#comment-40710 Interesting post. Most days I feel like I'll never catch up with my huge credit card debt. It's like the never-ending nightmare. Interest rate is ridiculous. Interesting post. Most days I feel like I’ll never catch up with my huge credit card debt. It’s like the never-ending nightmare. Interest rate is ridiculous. ]]> By: els ct http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-37829 els ct Wed, 23 Sep 2009 13:55:18 +0000 http://www.mint.com/blog/?p=4047#comment-37829 Credit card debts are like cancer. Cure is slow and painful. You undergo "chemo", at the expense of losing sleep and hair. Wait a minute - there is hope!!! 1st - discuss with your bankers/credit card issuer 2nd - suggest a longer repayment programme or convert into a term loan 3rd - request for a flexible repayment scheme based on your cashflow/income 4th - restrain from using anymore cards i.e pay cash for everything, otherwise, don't spend when you don't have the money. Credit card debts are like cancer. Cure is slow and painful. You undergo “chemo”, at the expense of losing sleep and hair.

Wait a minute – there is hope!!!
1st – discuss with your bankers/credit card issuer
2nd – suggest a longer repayment programme or convert into a term loan
3rd – request for a flexible repayment scheme based on your cashflow/income
4th – restrain from using anymore cards i.e pay cash for everything, otherwise, don’t spend when you don’t have the money.

]]> By: Gail Cavanaugh http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-35913 Gail Cavanaugh Mon, 24 Aug 2009 18:12:18 +0000 http://www.mint.com/blog/?p=4047#comment-35913 If more people, including students larn how interest accrues on credit card debt, they would probably not skip payments or charge so many purchases. If more people, including students larn how interest accrues on credit card debt, they would probably not skip payments or charge so many purchases. ]]> By: credit card charges http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-2/#comment-34997 credit card charges Sat, 15 Aug 2009 18:50:59 +0000 http://www.mint.com/blog/?p=4047#comment-34997 It's essential to stay on top of your finances, otherwise it is a spiral of debt due to the high interest rates these credit card providers charge. It’s essential to stay on top of your finances, otherwise it is a spiral of debt due to the high interest rates these credit card providers charge. ]]> By: Deanna http://www.mint.com/blog/finance-core/the-descent-into-credit-card-debt/comment-page-1/#comment-34821 Deanna Thu, 13 Aug 2009 12:43:33 +0000 http://www.mint.com/blog/?p=4047#comment-34821 how? how? ]]>