🚀 go-pugleaf

In article <447obt$5pe@taco.cc.ncsu.edu>,
sjcrisp@unity.ncsu.edu (Steven J. Crisp) writes:
 
>Glen Roberts (glr@ripco.com) wrote:
>
>: : What bullshit.  Credit cards aren't the slippery slope to financial ruin,
>: : idiotic use of credit cards is.  There's a huge difference.
>
>: Why must be always think that it is necessary to live beyond our means?
>: The *MAIN* benefit of credit cards is for the bank executives that earn
>: huge salaries, the stockholders, and businesses that can snooker you
>: into buying more on impluse.
>
>HUGE error of logic here...If you never live beyond your means then I
>would suspect that you would never take out a mortgage or a car loan. Nor
>would I expect you to ever purchase a major appliance or institute
>significant home repairs on credit.
>
>The "*MAIN*" benefit of credit cards is for the convenience of the user.
>If the user abuses that privilege, then he has only himself to blame.
>Further, if one pays off the outstanding balance every month then what
>makes credit cards any different from using cash?
 ------------------------------------------------
 
The main difference is to the bank. If you pay cash for an item the
store keeps all the profit. If you pay with a credit/debit card the
bank gets a percentage of the sale. It's not a lot but it does add
up. So the bank wins whether you pay off the card each month or
not.
 
Isn't Capitalism GREAT!!!!!!!!!!!!!!
 
Jeff Bailey
 
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=  Jeff Bailey                                                         =
=  SAS Institute Inc.                                                  =
=  Cary, NC                                                            =
=                                                                      =
=      +       "...Mmmmmmm, sacralicious." - Homer Simpson           + =
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>
>Steve Crisp