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Discussion Forum : News and Current Events : More than 8 million drop out of credit card use

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 More than 8 million drop out of credit card use


More than 8 million consumers stopped using credit cards over the past year. The decline stems from a combination of consumer choices and bank actions.
An analysis by credit reporting agency TransUnion found that use of general purpose credit cards bearing MasterCard or Visa logos, or issued by Discover or American Express, fell more than 11 percent in the third quarter, compared with the July to September period last year.

About 62 million people now have an active card, compared with 70 million a year ago. ...

read more: http://www.breitbart.com/article.php?id=D9JQ36200&show_article=1


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SI Moderator - Greg Gordon

 2010/12/1 21:11Profile
White_Stone
Member



Joined: 2008/10/25
Posts: 1196
North Central Florida

 Re: More than 8 million drop out of credit card use

a drop in the bucket but Thank God for that drop.

Given time a small drip can empty a barrel.


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Janice

 2010/12/1 22:53Profile









 Re: More than 8 million drop out of credit card use

Wow!!

I wonder if that is the reason my visa rates keep going up so they can compensate for the loss. I am getting rid of that card, no incentive whatsoever. Keeping my mastercard as it has a point system for groceries that add up pretty quickly. But I am glad to see that number of people are dumping their cards, getting into debt doesn't pay.

 2010/12/1 23:01
ManofGod0000
Member



Joined: 2010/6/8
Posts: 191


 Re:

I am being sued right now by Capital One, these creditors are aweful, but I was dismissed from my job.

What do u do?

Keep me in your prayers saints.

 2010/12/1 23:35Profile









 Re:

If you used their credit card, you owe them their money. I use a credit card too and we are servants to the lender until we come to our senses that there must be a better way.

Anyway, you need to start making payments and apologize to the company for your lack of payments and dump as much money as you can to bring down that principle. And destroy that card. Speak to the manager on duty and ask him/her if they are able to cut down the interest rate for 6 months so you can dump as much money into it and bring the balance down quickly.

We signed up for these cards, we signed the dotted line, it's no one's else's fault but our own and I would highly recommend you cancel Christmas this year.

If you bought anything on the card recently, return it if you can. If you have stuff around the house that is worth anything, sell it.

If you owe thousands of dollars on that card, your last resort is bankruptcy. But even bankruptcy costs money. It costs about $1500, to $2000 dollars to get discharged.

 2010/12/1 23:48
Compton
Member



Joined: 2005/2/24
Posts: 2732


 Re:

Hang in in there ManofGod0000. Your situation might seem quite disheartening but every season passes:) Even the worst storms don't last forever.

Know that Im praying for you.

Blessings,

mc


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Mike Compton

 2010/12/2 3:39Profile
A-Run
Member



Joined: 2008/9/8
Posts: 56
India

 Re: More than 8 million drop out of credit card use

I just want to ask one thing:

# Is having/using a credit card not a profitable/good thing?
I mean if we use it and pay the amount back before the interest is applied?

Would really like to learn/know on this issue.


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Arun

 2010/12/2 4:33Profile
HeartSong
Member



Joined: 2006/9/13
Posts: 3142


 Re:

Quote: Is having/using a credit card not a profitable/good thing?

Well, if one considers that we are to trust in the LORD, having a credit card shows a lack of faith that the LORD will provide in what ever circumstances that we find ourselves in. One might say that it is a matter of convenience, but the LORD has not called us to convenience, He has called us to obedience and has promised to equip those whom He has called.

That being said, currently I have a credit card that I pay off each month . . .

 2010/12/2 9:01Profile









 Re:

Quote:
One might say that it is a matter of convenience, but the LORD has not called us to convenience

His gospel is pretty convenient.

Justification by faith?, having our sins wiped away by the simple act of faith in Christ and putting our complete trust in Him that He alone has worked out our salvation through His death on the cross.

"For by grace are we saved through faith". That is the biggest convenient thing that I have ever seen in my life.

And furthermore he has given us a free card that has the name of Jesus Christ on it, that whenever I use that card in His name according to His will, He will do it.

 2010/12/2 9:48
Joyful_Heart
Member



Joined: 2009/12/8
Posts: 1795


 Re:

My folks have a credit card, in fact several and use them a lot but they pay it off at the beginning of the month. so, they are not going into debt and it doesn't cost them anything. And I only have a debit card. I like it that when I bring it home it is all paid for and I can enjoy what I buy without wondering how to pay for it. Glory to God. Also will pray for you brother - for employment.

 2010/12/2 12:13Profile





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