cancel
Showing results for 
Search instead for 
Did you mean: 

Should you use credit cards in serious life events?

tag
Anonymous
Not applicable

Should you use credit cards in serious life events?

Would you in the case of a major life event that has drained all of your finances (Feeding the family has come into question),turn to credit cards even knowing  that you will most likely be unable to pay even the minimum nor the balance. I am specifically questioning what moral implications arise from such a decision.  (I.E. My subsistence over that of some credit card companies profits) Just querying the general feelings of the forum on such events.

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Should you use credit cards in serious life events?

I can't think of anything more important than feeding your family.

Message 2 of 6
jdogi
Contributor

Re: Should you use credit cards in serious life events?

I can't think of anything more important than feeding your family.

 

...well, feeding the family and internet access

...err, feeding the family, internet access, and a cellular phone

...hmm, feeding the family, internet access, cellular phone, and cable TV

...make that, feeding the family, internet access, cellular phone, cable TV, and air conditioning

 

I apologize in advance if the question is more than just hypothetical.  I do not mean to make light of a possibly horrible situation.  Unfortunately, too often I see people driving new cars, enjoying all of the above LUXURIES, all the while taking advantage of food stamps and other social programs as if they're poor.  To me that is a moral issue.  Those people are essentially stealing from the pool that is provided for those truly in need.

 

I just hope that anyone in a situation like this would first take an objective look at their lifestyle before sacrificing their credit score (or starving) just to maintain an unsustainable lifestyle for a little bit longer.  Take a close look at all cash flows to see wha can still be cut.

 

If it really does come down to feeding the family, heating the home in winter, etc.  Then I have to ask, how moral is it to watch one's family suffer, knowing that one could do something about it that wouldn't inflict nearly that level of suffering on someone else.  There are many things that I would consider doing in that situation, and running up a credit card bill is far from the worst of them.

 

It's easy to talk about it when it's not you, but I would hope that someone in this situation wouldn't be too proud to seek assistance.  Certainly there are options better than starving in today's world.  Maybe start with family.

 

Ignorant, Idealistic, Apathetic,

jdogi

Message 3 of 6
MagicShot
Contributor

Re: Should you use credit cards in serious life events?

+1
Message 4 of 6
tinuviel
Moderator Emeritus

Re: Should you use credit cards in serious life events?

Been there, done that, finally finished digging out from under it.

 

Specifically, I leaned on my CCs in the wake of Hurricane Charley in 2004, and Hurricane Wilma in 2005 -- two really miserable years for our family. I do have two COs from that time, both of which I've had in dispute; payments sent were not posted properly along with some other issues. Both of these are outside of SOL and are ready to fall off my reports. Everything else I've repaid every penney in full -- including tons of interest.

 

After having been through this, I have to say that I hope to never be in this situation again. I've been doing a better job of building up an emergency savings fund. But, I also know that life can sometimes throw you curveballs, so I tend to avoid passing judgement on others.

 

This should be an interesting discussion. Gonna grab some popcorn...


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 5 of 6
tntexans72
Valued Contributor

Re: Should you use credit cards in serious life events?


@ptrutkowski wrote:

I can't think of anything more important than feeding your family.



+1

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.