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#190855 - 09/30/09 05:45 PM Re: Save or pay off credit cards? [Re: ]
Dotsie Offline
Founder

Registered: 07/09/08
Posts: 23647
Loc: Maryland
I'm all for paying off credit cards every month. I hope we've taught our kids to do the same.

Mom and Dad always said, "If you can't afford to pay for it, don't buy it." Makes sense.

However, I do recall having credit card debt at the beginning fo the year due to Christmas shopping. Now I try to start a few months early and spread it out. Have gotten a few things already.
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#199766 - 02/17/10 04:29 AM Re: Save or pay off credit cards? [Re: ]
Di Offline
Member

Registered: 11/15/05
Posts: 2798
Loc: NM, transplant from NJ
"Neither a borrower or lender be". Not sure where I heard that, but NO CREDIT cards in THIS house!

You are "owned/enslaved" by the cc companies. It's enough to be indebted to a mortgage, isn't it??

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#199799 - 02/17/10 11:13 PM Re: Save or pay off credit cards? [Re: Di]
yonuh Offline
Member

Registered: 06/14/06
Posts: 2447
Loc: Arizona
The quote is from Hamlet: Polonius counseling his son Laertes. And I don't know what recesses of the brain that got dredged up from! My brain is constantly amazing me; I can't remember what I did yesterday, but this kind of trivia is constantly rising to the surface!! smile
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#199802 - 02/17/10 11:59 PM Re: Save or pay off credit cards? [Re: yonuh]
AvalonBlondi Offline
Member

Registered: 11/07/05
Posts: 1096
Loc: West Chester ,PA
Your memory is impressive yonuh....I know what you mean about forgetting what you did yesterday though...I'd love to know why that happens to our memories..I can remember intricate details of my life from 40 yeaars ago but ask me what I ate for lunch today and I have to think about it for a long time..:)
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#199803 - 02/18/10 12:52 AM Re: Save or pay off credit cards? [Re: AvalonBlondi]
yonuh Offline
Member

Registered: 06/14/06
Posts: 2447
Loc: Arizona
I think it's because, at our age, we have so much stuffed into our brains, there's no room for new stuff. That's my story, and I'm sticking to it!! LOL
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#203643 - 05/19/10 03:47 PM Re: Save or pay off credit cards? [Re: yonuh]
jakkom Offline


Registered: 05/19/10
Posts: 47
Loc: SF Bay Area, CA
Pay off your credit cards, lock all but one away and pay that balance every month if possible.

Women tend to have poorer credit records. It would NOT be my advice to younger working women to go without building a credit record! That is a disservice, especially when circumstances change and women are so easily penalized for being older, earning less money, and being poorer credit risks.

Also, women statistically tend to save less money and participate less in company retirement plans than men. We need to change attitudes and become as fully involved as men in how we handle our own money and financial planning.

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#203665 - 05/19/10 10:31 PM Re: Save or pay off credit cards? [Re: jakkom]
chatty lady Offline
Writer

Registered: 02/24/04
Posts: 20267
Loc: Nevada
Welcome Jakkom, don't remember seeing your name before. I agree with you about paying off all credit cards but one and hopefully that one will be a credit/debit bank card, NO interest!

Women are sometimes preceived a poorer credit risk but I don't think most are. Women in most instances I have known keep the records, pay the bills etc. for the home when married, so if no longer married why wouldn't they continue to do so on their own?

The women I feel sorry for are the ones who innocently trust the husband to do it all and then when he dumps them they are like a deed caught in the headlights...

I have always advised all women (in my advice column) to educate themselves, know what they own as a couple, have and make sure their names on everything; so if he dropped over tomorrow they'd know where everything was and what to do with it....

And don't think it can't happen to you. My first husband died after just 5 years, and I was that deer in the headlights. But many, many years later when my second husband passed, I hade it all under control big time, and what a difference that made...
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#203681 - 05/20/10 03:05 PM Re: Save or pay off credit cards? [Re: chatty lady]
jakkom Offline


Registered: 05/19/10
Posts: 47
Loc: SF Bay Area, CA
Yes, but it isn't a question of us thinking women are as good credit risks as men. It's the financial institutions and credit agencies who make that decision, and women ARE perceived as poor credit risks if they don't take steps to protect themselves.

I have separate credit from my DH and there were several times when his cards were issued with a higher limit than mine. A very interesting difference that no one would realize save that I kept my own name after marriage, so it was very obvious to us there is real discrimination going on.

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#203683 - 05/20/10 03:12 PM Re: Save or pay off credit cards? [Re: jakkom]
jawjaw Offline
Da Queen

Registered: 07/02/03
Posts: 12025
Loc: Alabama
Pay them off. Cut them up. Period. Have one for travel purposes and use it only then.

I cannot believe the government lets the CC companies get away with the interest they charge over time. It is criminal.

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