The credit system is the most effective ruse used to keep this economic system afloat

[Rarely-Wrong Liggins]

People who aren't good with credit usually aren't fiscally responsible with money either.

 

[Sharp]

What would happen if everybody in the world had to pay off all of their credit card debts in full at the same time?

 

[Rarely-Wrong Liggins]

Economic collapse.

 

[Rawtid]

People who aren't good with credit usually aren't fiscally responsible with money either.

Really?!!?!?!

 

[R.E.N. Spells Ren]

A degree is nothing to brag about either, so I agree with you there.

I never said that having a good credit score means you only paid the minimum payment, I said that there are people with good credit scores who pay the minimum, but still are in deep debt. So having a good credit score is not an indicator that someone is good with their money. It's really nothing special. You can certainly function in this world without the use of credit but if you think otherwise that's ok.

It's not supposed to be an indicator that someone is good with money, it's an indicator on th erisks associated with lending to them, which is what lenders care about.

And you may be able to function without credit, but you're handicapping yourself, and for what purpose?

 

[Rawtid]

It's not supposed to be an indicator that someone is good with money, it's an indicator on th erisks associated with lending to them, which is what lenders care about.

And you may be able to function without credit, but you're handicapping yourself, and for what purpose?

I do agree with the first part. However, I can't agree with the handicapping part. Debt handicaps people more than NOT using credit does. I mean it's all good when you can pay it back, but when you can't...

 

[iamstr8fire]

, it's an indicator on th erisks associated with lending to them, which is what lenders care about.

This ^ 758.

 

[JasonSJackson]

Clothes are more in line with houses.

Technology takes $$$ to develop. That's why the same logic wouldn't apply to cars. Those are legit expensive items. Even the "cheap" cars of today wouldn't be as cheap since a) they wouldn't sell as much (no volume pricing) and b) they wouldn't be able to use the industry standard technology from previous generations (assuming we're talking about the credit system never have existed)

That doesnt follow the logic of what you said about the housing market and how the prices would shift based on the purchasing power of the people....

You say "those are legit expensive items".......what makes them legit expensive items?

EVERYTHING is overvauled now based on the false purchasing power credit provides......

You remove the credit system and the values of EVERYTHING will shift to reflect that.

The only thing that could keep the value of something from shifting is if other societies maintained a credit system (a false wealth system) while others abandoneded it or if the legit wealthy segments of a societies population purchased enough of a particular item to justifiy its valuation....

EDIT: got interuppted as i was typing this and dont even remember what else i was going to post so ill leave it at this

 

[R.E.N. Spells Ren]

I do agree with the first part. However, I can't agree with the handicapping part. Debt handicaps people more than NOT using credit does. I mean it's all good when you can pay it back, but when you can't...

Then don't borrow it.

Everything from traveling to purchasing things online is easier with credit. You're definitely handicapping yourself.

 

[JasonSJackson]

nikka I wasn't talking about you. Put the razor back in your mouth Keisha.

lol...my fault

 

[Rawtid]

Then don't borrow it.

Everything from traveling to purchasing things online is easier with credit. You're definitely handicapping yourself.

I personally wont. Most people don't assume they will ever be in a position not to be able to pay back debt but shyt happens.

And you can use a debit card with a visa or mastercard logo.

 

[JasonSJackson]

Smh at thinking having great credit is just paying shyt on time, let me tell you having good credit makes a HUGE difference rather then having bad credit.theres nothing wrong with the credit system and credit and borrowing doesn't make people poor, leave societies economically unbalanced. It's interest that does all that. Don't give or accept interest and there won't be such a big economical gap.

your comprehension skills are suspect

 

[Rarely-Wrong Liggins]

Really?!!?!?!

Then why are you going on about credit cards causing people to purchase more than they normally would (fiscally irresponsible) when you agree these people aren't fiscally irresponsible anyway, credit or not?

 

[R.E.N. Spells Ren]

That doesnt follow the logic of what you said about the housing market and how the prices would shift based on the purchasing power of the people....

You say "those are legit expensive items".......what makes them legit expensive items?

EVERYTHING is overvauled now based on the false purchasing power credit provides......

You remove the credit system and the values of EVERYTHING will shift to reflect that.

The only thing that could keep the value of something from shifting is if other societies maintained a credit system (a false wealth system) while others abandoneded it or if the legit wealthy segments of a societies population purchased enough of a particular item to justifiy its valuation....

EDIT: got interuppted as i was typing this and dont even remember what else i was going to post so ill leave it at this

It does follow the logic, you just don't get it.

Houses have been around for millenniums. No one had to study in a lab to learn that. Best practices are learned by skilled craftsmen.

Cars are technology that are expensive to develop and produce. Everything from the ABS to air bags, to windshield wipers. Technology is not like real estate in that regard.

 

[R.E.N. Spells Ren]

I personally wont. Most people don't assume they will ever be in a position not to be able to pay back debt but shyt happens.

And you can use a debit card with a visa or mastercard logo.

That's still credit, hun.

Hotels let you stay knowing that if you raid the minibar and try to say you don't have the cash to pay for it, visa will make them hole.