@eric19k wrote:
We can use instead of CONGRATS something like LOSER!!!! You got yourself in debt.
Hmm Maybe we should start doing that 
@baller4life wrote:
True true. Good point. I usually do as well because I'm gardening. And it's like an alcoholic going to happy hour for me when I go over there.
Yeah I need to garden for a long time Don't have plans to get any loans with a slim chance of a Car but that can wait till 3 years so I figured get all my apping done now 
@atd1970 wrote:Lets face it, people apply for credit for two reasons; firstly because people desire a wallet full of cards, with all the benefits and status the card brings. Secondly, people get cards because he or she is trying to meet immediate needs. The kids need clothes, there has to be food on the table, or the rent payment has to be paid.
However, we, on this site, continue to say CONGRATULATIONS.
Why? We congratulate people for increasing debt. That makes no sense.
The questions should be, why do you need this card; what is your repayment plan; and how much money can you afford toward yet another debt obligation.
50 percent of the posts here simply say "Congrats", just think before you post, and may ask some questions.
I congratulate people on being approved for a card because they're hard to get. People getting a amex card? Well they have to have XXX score and not be in BK along with a leg's worth of length of other requirements. I'm not congratulating people on acquiring the new debt. I'm congratulating the hard work and dedication it takes to achieve those victories for the ability to say, stave off losing their home or being able to survive for a few months between getting laid off. Or being able to help a friend or family member out during tough times.
I was so happy that I got credit after a BK. I've learned so much from my BK about managing money that I have the graduation certificate from the school of hard knocks. BUT Achieving that first credit card, then a second one. Yeah... That's approval an validation that there is life outside of my bankruptcy and life/credit/money will get better.
@atd1970 wrote:Yes an No. The problem with rewards programs is the failure of the person tho understand Compound and Discounted interest rates.
Your points do not compound interest over time, and the same banks lend money, at the current at lower rates, based upon future value, over time.
Always, always, always, the bank will win. If you think you can beat the system, you are wrong.
The banks may tolerate you, but they can cut you off anytime. If they do, you have no recourse.
Yes but Credit cards are "loans" and should be viewed as loans and not Free money to spend.... Because that is somebody's money being spent even if it isn't taken out of your wallet at the moment. If you have knowledge about how credit cards work and have self control spending all your purchases on credit cards verus cash is a great option because you can get CB , Points , Free hotel stays or Airplane tickets or at a discount.
If we could really live in a Dave Ramsey perfect America... I'd be all for it. Actually, I've been living on cash and budget for the past 15 years, paying off debt, but avoiding addressing past financial mistakes. (Hence why I am here) To me it feels smart to learn about credit and the advantages it offers while also instilling good money behaviors for myself and family. And lines of credit do not equal debt...
While I'm learning this stuff, I'm also hoarding gold and silver prepping for the end or the American monetary system.
Having said all of that, I don't think it hurts to share encouragement with anyone that's in a similar journey with us... we're all adults and can choose to act responsibly or not.
@atd1970 wrote:Lets face it, people apply for credit for two reasons; firstly because people desire a wallet full of cards, with all the benefits and status the card brings. Secondly, people get cards because he or she is trying to meet immediate needs. The kids need clothes, there has to be food on the table, or the rent payment has to be paid.
However, we, on this site, continue to say CONGRATULATIONS.
Why? We congratulate people for increasing debt. That makes no sense.
The questions should be, why do you need this card; what is your repayment plan; and how much money can you afford toward yet another debt obligation.
50 percent of the posts here simply say "Congrats", just think before you post, and may ask some questions.
Well I wouldn't say I desire status of a particular credit card or feel the need to have a wallet full of credit cards. In addition, I have money in my bank account already and don't need credit to pay my bills. I do it because because I can earn rewards on spending I would be doing anyway. I do it because it helps me build up my credit history so when I go to apply for a mortgage I will be in a position to get the best possible interest rate. So I don't fit into your so-called two categories and I highly doubt I am the only person on here that does not fall into those two categories. In fact many people come to this board in hopes of rebuilding their credit and taking control of their finances. People say congrats when someone gets a new card, because many times the person getting the card has had to rebuild their credit history to get to the point to even qualify for said card.
Getting a credit card does not automatically put you in debt. Its actually fairly insulting that you think the people on here can not control their spending or that just having a credit card leads to debt, epsecially given the abundance of advice given on these boards about paying your balance in full and avoiding making interest payments etc. Granted if someone is talking about apping for 10 cards and their prior posts indicate they are in a poor financial position to do so it is appropriate top ask a question, but its not proper to generalize about the entire community.
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