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credit cards

July 26th, 2018 at 03:36 am

I am just wondering after reading many posts on here (and I'm not judging just curious) as to why some people have so many CC? I have one and it has a limit of $5000 and that bugs me that if it was maxed out that I would pay so much interest.

I just think in Australia it isn't easy to get a CC so I don't know many people who have more than 1 so I'm just wondering why some people have several? if you have 1 can't you increase the limit if you need it? if you have several and max them out why would you get more? Is it easy to get credit in America?

As I said I am just curious to why people have several, I'm not judging at all...it just seems credit is so much easier to get in America than most places I wish our home loans were as easy to get as yours, that would make life over here so much easier

Posted in Credit Cards | 9 Comments »

9 Responses to “credit cards”

  1. debtfreeme Says:
    July 26th, 2018 at 04:45 am 1532580353
    1532580353

    I think it may be easier to get a cc here in the states hearing what friends go through in Europe to get one. Also, I think Americans are conditioned to the "get a store card and save 20% today on your purchase" thinking which leads to lots of store cards and more debt.

  2. dtjunkie Says:
    July 26th, 2018 at 05:33 am 1532583208
    1532583208

    Yes, you hit the nail on the head. Here, with a clean credit, starting at the age of 18 as long as you've got some income coming in, you can get a lot of credit cards all at once.

  3. Smallsteps Says:
    July 26th, 2018 at 11:05 am 1532603156
    1532603156

    You have asked a good question and very diplomatically too.
    Yes it may be easier to get CC in the States but to a larger point it is a Individual's choice to APPLY for and get them. NOT everyone here has done this. Yes many offer special deals(% off for store cards) etc to get ppl signed up. More and More with promises of airline miles/ rewards credit for certain purchases etc. For every person making cash back of earning enough airmiles to go places but still paying in full there are probably 100's or 1000's who are now in debt paying interest for years.

  4. ceejay74 Says:
    July 26th, 2018 at 03:03 pm 1532617402
    1532617402

    Back when I was a financial mess, I used to sign up for 0% interest for X months cards, or balance transfer offers where I could get lower interest rates. (Of course I would spend up the one I'd just transferred from, so balance transfers never saved me money and only got me deeper in the hole.)

    Then for a while I was signing up for lots of cards with a spend X, get $X intro offer. I'd use it until I earned the reward, then pay it off and close the account. I've stopped doing that because I may want to refinance my mortgage at some point and opening and closing CCs impacts my credit score.

    Now, I have multiple cards because of the deals they offer. My Amex card offers 6% rewards on grocery purchases and free shipping from Boxed. My Target card gives me an automatic 5% discount on any Target purchase and free shipping on online Target purchases. My CapOne gives me 1.5% cash back on all other purchases. I pay off the complete balance on all the cards on the due date so don't pay any interest.

  5. snafau Says:
    July 26th, 2018 at 04:49 pm 1532623756
    1532623756

    We in Canada were heavily marketed to open CCs. They sent them in the mail, client's merely phoned the 1-800 n number to activate. If you applied for or renewed a mortgage, you got a reduced interest rate if you activated a CC. More recently the offer is 2% -6% discount on all purchases in specific categories. I used to pay cash for gas to control monthly spend in that category. Now we must pre-pay before buying and it's to much of a hassle to pay cash. I use the best discount rate for gas card, just for gas arrrgh.

    At the 1st of the year, I cut up 15 cards that were no longer used, had expired, changed affiliation, or no longer offered the best discounts. We do our best to stay up on best terms. We have a list on our phone of cards due dates and 'cut off' dates careful to use cards to our advantage without paying fees or interest. I'll pay cash if the merchant will discount.

  6. mumof2 Says:
    July 27th, 2018 at 01:37 am 1532655471
    1532655471

    Thankyou all so much for answering me, it does sound like it so much easier to get cc than over here in Australia, even with good credit but even good credit over here doesn't mean you will get one or any loan for that matter, it is based on income, if you have a lot of income you can get them if not you can't...funny the thing s any people I know that have high incomes live well beyond their means and can't really afford them anyways...we have only ever had one and its for emergencies.

    I don't think we have many here that offer great deals for anything groceries, gas, airfares etc...you would have to spend so much money to even get anything...so hardly anyone uses it for that....it is still interesting to hear how each country does different things. Payday loans here are highly scrutinized now and a lot of companies have been hit with big fines for lending to people they shouldn't...
    I'm more of a cash person we take out cash for groceries and gas then I b-pay everything else except rent which is directly taken out every 2 weeks...

    I have to say though I am quite envious of the prices you pay for groceries etc...but I'm also thankful for our health system where we don't pay to see a doctor (unless on high income), have surgery etc...that is nice

  7. rob62521 Says:
    July 29th, 2018 at 07:01 pm 1532890864
    1532890864

    Sadly, for some, getting credit cards is way too easy. We had a friend who at one time had 41 credit cards. Beats me why. Anytime a company would offer him one, he would get it. I can't even imagine the headache of keeping track of what was on what card.

  8. mumof2 Says:
    August 1st, 2018 at 03:13 am 1533093203
    1533093203

    wow rob62521 that is an incredible amount of CC I just can't imagine..hopefully he wasn't using them all and he just had them.

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    August 20th, 2018 at 01:24 pm 1534771493
    1534771493

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