Posted by Ed L. on December 26, 2000 at 20:35:23:
In Reply to: Re: And I thought the PADI Visa was bad posted by Kevin on December 26, 2000 at 15:09:30:
Credit cards are good as long you spend within your means. Unfortunately not enough parents are educating their children on the use of credit. I don't think most people realize that a credit card company can call you up and demand payment in full tomorrow without any warning. Next thing you know your out on the street flat broke with no credit at all.
Can you look at your finances and say to yourself I can survive one month with the money I have and still pay all my bills? Not many people can.
Yes DAN and PADI are receiving a small benefit, but it is the bank that is making out big time.
Are you good at paying your credit card bill everymonth? Still have credit your paying off? Try calling your card company and see if they can lower your interest rate for you. My wife and I were paying %19 percent when they offered us credit increase. I called and asked them if the could lower the interest. They dropped it to %14!
Ed L.