PBS Frontline: "The Secret History of Credit Cards" -- on now: 9pm CST

[scarletwoman]

Just a heads up, program is just starting...

sw

[Massacure]

1. PBS as in channel 8? They have a mountain show on :S

[scarletwoman]

3. PBS as in "Public Broadcasting Service" -- public TV

No channel 8 where I live...

sw

[hightension]

2. I'm trying to get my 4 year old in the tub

but this could be a good show.
I'll try to catch some of it.

I know too many people who have to decide on which minimum payment to make.

[TomClash]

4. An excellent show

If anything - not hard hitting enough.

[scarletwoman]

5. It's a sucker's game...

I refuse to have a credit card, I get along just fine with my check/debit card. If I don't have the money for something, I do without.

sw

[private_ryan]

6. you need a credit card and credit history though

unless you're super rich. You will need to buy a car that cost more than what you got, pay for a home, school, emergency trip etc.

[scarletwoman]

7. Well, it hasn't worked that way for me.

I'm 55 years old, definitely NOT rich (income under 23,000/yr.). I've raised 2 kids as a single mom, am 3 1/2 years from paying off my house (with 10 acres -- second house I've owned, btw), my youngest is a sophomore at a private college, and I've done it all with no credit cards.

I live simply, save money for things I know I'll need, buy used cars with cash -- I've learned how to make do with very little and still have a satisfying life. I just never got into consumerism.

sw

[private_ryan]

8. congrats

you're one of the very few, yet you still needed credit though.

[scarletwoman]

10. Yes, but my point is, I DIDN'T need credit CARDS.

People are always insisting that you NEED credit cards; I've held my ground and insisted on NOT having one, and proved that it can be done.

sw

[private_ryan]

12. look

most of us by far aren't rich. If something happens (car breaks down) and need $500 that you don't have this minute, a credit card is handy. It has potential for abuse but it saves your ass.

You don't need one, but you need one ;)

[scarletwoman]

13. Everyone has to do what works best for them.

All I was doing was relating my own experience.

sw

[jdj]

16. good for you.

I was impressed. My boss is a single woman who just bought a house and a brand new car and she is now having to work two jobs. She had to have a NEW car. Ironically where we work there are 6 other vehicles that she could use in a pinch. MY car could break down tomorrow, and I would definitely have to use a credit card to fix it, but at least i'm not making a payment.

I am becoming so aware of just how much we are bombarded with buy messages all day long, we get a decent standard of living and then we are supposed to buy something every single day.

[UNIXcock]

14. It certainly helps to have a credit card, what most Americans cannot ...

... understand is how to manage one. I'm a firm believer that if you cannot regularly (as in each statement) pay off the balance perhaps you're better off without one.

... it just makes life so much easier to buffer those unexpected blows where you may not have a pile of cash to plop down

... another thing I advocate: DO NOT use your debit card as a credit card. If someone rips off your ID they could drain your account, with a major CC, you're only liable for the first $50 on fraudulent activities

[girl gone mad]

22. Why do you need it?

I've never had a credit card, and I was able to buy a house. I've never not been able to do something because I didn't have a credit card.

It's probably better to have money saved for anb emergency and not have to rely on credit cards.

[scarletwoman]

23. Thank you!

I was endeavoring to make the same point; you don't NEED a credit card in order to successfully function economically.

I truly think that one of the BEST acts of rebellion against corporate control of our lives is to STOP USING CREDIT CARDS! Whenever I've proposed this in the past, just about everyone tells me I'm nuts and that it's impossible -- no matter that I point out that I've managed my life just fine without one.

If we don't stop feeding the monster, how will we ever defeat it?

sw

[Lydia Leftcoast]

9. I had to learn about credit cards the hard way

My current debt is not insupportable, but I'm paying it off as fast as possible. My car is a 13-year-old hand-me-down from a relative. I do not own a house, and my furniture is sparse and old. I do spend on books, CDs, and clothes, although not nearly as much as I used to, and I pay with checks or a debit card.

My credit card is now strictly for emergencies, with emergencies defined very strictly. Wanting something is not an emergency.

I know that a lot of people are struggling and have no apparent way out of their financial hole. One of my cousins is in that fix right now, under-employed and socked with medical expenses.

However, I also know people who think that they NEED an expensive car, NEED a big house, and NEED brand-new furniture and appliances when they can't really afford them.

By the way, that Frontline program was excellent, proving that the credit card industry is even more despicable than I thought it was. If I were teaching a high school consumer economics class, I'd make this program required viewing.

[scarletwoman]

11. It's frightening to think of so MANY people being so totally in hock!

Someday, all this insanity is going to come crashing down...

sw

[Demonaut]

15. Just happened to me, didnt get a bill from BankOne and got hit for 25.97%

interest rate....One fucking missed payment and I paid it before they called or notified me and it goes from 7.99% to almost 26% FUCK THEM!!! I'm refinancing my house and sending them a check for the balance and will never EVER carry a card from those asswipe thieves again E V E R ! On edit my FICO score is 730 and I the reason I found out I missed the payment I was trying to charge a pack of cigarettes and it got rejected, time to quit credit cards and cigarettes:cry:

[jdj]

19. Bless your heart that is the latest scam.

My parents went throught that.

They missed no payments though, two of their companies changed hands and the new card companies said they had too much debt and spiked their rates.

They filed bankruptcy, and I don't blame them.

[proud patriot]

17. it's on at 10pm in the Bay Area on KQED

:hi:

[fortyfeetunder]

18. Speaking of of credit cards, what do y'all think of Citicorp?

Unfortunately I have to use one of their credit cards for biz travel. No other choice....

[jdj]

20. I keep getting that e-mail scam from them

or whoever hijacked their logo

"Please re-enter all your personal information so we can update our records..."

[not fooled]

21. owned by the Saudis, I've heard

all or in part? another way they make money off Americans.