Why don't people have credit cards?
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Anonymous
| In a facebook group I belong to, a woman was asking for help because she couldn't afford a $135 ringworm or something like that treatment for her daughter. She said she lives paycheck to paycheck and that her daughter had a VERY bad case/infection. She wasn't asking for advice, she was asking for donations and apparently got someone to pay for it. My question is, why doesn't she have a credit card to just pay for the treatment and pay it back in installments. Is she just looking for handouts or maybe she doesn't quality for a credit card if she has extremely bad credit? |
Anonymous
|
This is a joke, right?
Please get some worldly perspective. Please. |
Anonymous
| Do you seriously not know why someone living paycheck to paycheck doesn’t have a credit card or why they might have one but no available credit on it? Really?? |
Anonymous
| Lots of people live paycheck to paycheck and have maxed out credit cards. Does this surprise you? |
Anonymous
| Face-Effing-Palm, OP. Face-Effing-Palm. |
Anonymous
|
Because with a credit card, you end up paying compounding interest and often end up paying as much or more in interest than principal. For someone who lives paycheck to paycheck, this can have a huge impact on finances. Way smarter to just ask for money, even if some people will judge you.
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Anonymous
| Better question would be why people use credit cards if they don't have the money to pay it off in full! I can't imagine paying 20% interest. She's smart to not spend money she doesn't have |
Anonymous
"S'ils n'ont pas de pain, qu'ils mangent de la brioche!", as Marie Antoinette didn't actually say. |
Anonymous
| More than likely, if this person represents the millions of debt-ridden and/or financially disadvantaged Americans, they are living check to check because they have constrained resources. Perhaps what little credit they did qualify for was mismanaged. The people who don't qualify for credit cards feed into the market demand for insane payday and title loans. |
Anonymous
| Credit cards aren't handed out like candy. I have one because my parents put me on theirs when I was a teen. I was allowed to use it every now and then and then pay it off every month to establish my credit. A friend had no credit history upon graduating college and she had a very difficult time getting one despite having a job and a degree. She's white. Imagine being a black, poor, uneducated person with no credit history and how banks would treat you. Just get out of your bubble, OP. |
Anonymous
c'est vrai |
Anonymous
Was this sarcasm? She is literally spending money she doesn't have, other people's money. |
Anonymous
If you're going to be snarky about it and play the "literally" game...she is literally spending the money she has because people are giving her their money - making it hers. She is spending her money - without interest charges no less. Thanks for playing. |
Anonymous
| I think you knew the answer to your question and you’re just being a smartass posting it here. |
Anonymous
| JFC OP |