Sallie Mae Credit Cards Poor Decision

[mysonx3]

@mysonx like I said to each his own, but thats my stance, everyone manages their finances differently. I'm with Ramsey on this one, like he said the 'cash back' dosent warrant their use 1% or 2% cash back is too little especially since you are charged a fee every time you swipe. All that cash back and free miles is just good marketing that encourage people to use the cards and make momey for the bank. Do the math, its not worth it. Think sbout it why will the bank give you free money and spend all that money advertising it? All that 'rewards' stuff mask their true intentions.

Well for one the goverment shouldn't let these institutions give credit cards to people who are earning less than a certain amount per year as it can lead to financial ruin.

The governemnt should also forbid giving or allowing credit cards to be given to anyone who isn't gainfully employed for at least 3 years unless they have the security deposit to cover the amount on the card....it might seem restrictive, but it'll work...anyone else can use a debit for their plastic needs. I mean really a debit card is really good, you dont need to walk with cash and you dont spend what you dont have.

It seems a lot of the problem is that people who cant pay off credit cards are using them, a guy making 20 or 30k a year or a broke college student with a credit card is a disaster waiting to happen.

This needs to be fixed now, cause its out of control.

But I'm not being charged every time I swipe. I haven't paid a dime to a credit card company, ever. Occasionally a store will charge an extra fee for an electronic payment, but those apply to debit cards as well as credit cards. So the cash back I'm making is pure profit. Why do the banks do it? Because the majority of people will end up paying interest.

I think most Americans just don't see it as the government's place to stop people from making bad decisions.

And I also want to say, while I'm "arguing" with you, I appreciate your "to each his own" attitude.