@Anonymous wrote:
@Turbobuick wrote:
Sure, you don't pay interest, I don't pay interest, but not everyone earns enough or doesn't miss income for month or two and they're quickly in a hole that can't dig out of.
Then they aren't handling credit responsibly. If someone doesn't have the discipline to not spend money that they don't have, honestly they shouldn't be using credit. If they choose to that's fine (it is their choice), but the tradeoff is being at the mercy of whatever [high] interest rates are out there. Interest rates are disclosed upon anyone entering into an [CC] agreement; They know well up front what the interest rate is and are accepting that by entering into the contract. I see no room for anyone to be able to complain since everything is clearly disclosed.
I agree that there's no room to complain since the terms are laid out, but I strongly disagree with your comment about discipline.
While ideally everyone should have enough saved to take care of life emergencies the reality is that not everybody does (for whatever reason), and having a credit card/LOC to use in an emergency can be the difference between temporarily paying interest on a balance and genuine hardship.
There's nothing wrong with seeking a lower interest rate even if one hopes (and plans) to never have to use it, which is what @Anonymous has done here (and what this thread is about).
That said, we're starting to get off-topic... if anyone wants to continue the discussion on pros/cons of using credit in an emergency it will need to be done in a different thread.
