Credit Cards

[jorgen]

Are you morally responsible for your credit card debt?
Would you feel the slightest bit that you have wronged someone by simply walking away from your debt? Again, were talking specifically about credit cards, not personal loans from friends or family.

[quickdodge®]

I'll be honest and, no offense OP, but this has got to be one of the most ridiculous questions ever posed on this site. Later, QD.

[G.C]

ta hell... lol no shit you are responsible for your credit card debt.

[jorgen]

QD, I won't disagree with that.
And the question was not are you responsible for it, of course you are.
The question was MORALLY do you carry a responsibility for it.

[Double_0_Rusty]

If you don't disagree with the obvious, why start a thread?

[jorgen]

I do disagree with the "obvious"

I think the entire concept is fucking batshitcrazy.
Yet, you all agree that you are in fact morally responsible for you credit card debt.

[quickdodge®]

The question was MORALLY do you carry a responsibility for it.

My response WAS my answer. Later, QD.

[Sol-Badguy]

Financially? Yes.

Morally? Doesn't matter. See what happens when you don't pay.

[Double_0_Rusty]

I do disagree with the "obvious"

I think the entire concept is fucking batshitcrazy.
Yet, you all agree that you are in fact morally responsible for you credit card debt.

The way I see it, if I used the card on something, then I am obligated to pay it back. Who wants to ruin their credit?

[nreggie454]

Are you morally responsible for stealing shit?

Same stupid question IMO.

[Alan®]

I do disagree with the "obvious"

I think the entire concept is fucking batshitcrazy.
Yet, you all agree that you are in fact morally responsible for you credit card debt.

What's the difference between using a credit card and borrowing money from a friend? Are you any less morally obligated to repay the loan to the credit card company because u dont have a personal relationship with the company?

[imbosile]

Are you morally responsible for stealing shit?

Same stupid question IMO.

End thread.

[man]

Is this a serious question? Of course you are morally responsible for paying for the things that you purchase.

[81911SC]

This guys clearly an idiot.

[Brian*]

Yes, good credit is key*

[StreetHazard]

What's the difference between using a credit card and borrowing money from a friend? Are you any less morally obligated to repay the loan to the credit card company because u dont have a personal relationship with the company?


The difference is a bank is not loaning you money out of kindness or based upon your "need", they are doing it as a business, especially for young people that are just starting out trying to build "credit" charging 25% interest rates.

But credit by it's very definition is not really "real" money. It's like an IOU scribbled on a piece of paper. If they loan you $1 worth of an IOU, you pay them back $1.25 of "real" currency. Banks are essentially loaning money they do not have on hand all day in the form of "credit". With car loans, mortgages, business loans and credit cards, there is noway a bank has the cold hard cash on hand to even "loan" you that money which is why our economy depends so much on interest for those IOU's.

Which is another reason why banks limit so called "bank runs" during times or crisis. Even your savings accounts only exist as numbers in a system. If every American right now went to their banks and withdrew every penny they have...the banks actually would not be able to comply because they themselves do not have the money!

So if you look at it like they loaned you "money" that they themselves didn't even have anyway....why would you feel obligated to pay them back?

[The Creeper]

I think you are legally responsible, but morally, no. Who would feel bad not paying back these thieves? People pay off their credit cards and such for one reason only, to keep their credit score high, not because it will make them a better person.

[Alan®]

The difference is a bank is not loaning you money out of kindness or based upon your "need", they are doing it as a business, especially for young people that are just starting out trying to build "credit" charging 25% interest rates.

But credit by it's very definition is not really "real" money. It's like an IOU scribbled on a piece of paper. If they loan you $1 worth of an IOU, you pay them back $1.25 of "real" currency. Banks are essentially loaning money they do not have on hand all day in the form of "credit". With car loans, mortgages, business loans and credit cards, there is noway a bank has the cold hard cash on hand to even "loan" you that money which is why our economy depends so much on interest for those IOU's.

Which is another reason why banks limit so called "bank runs" during times or crisis. Even your savings accounts only exist as numbers in a system. If every American right now went to their banks and withdrew every penny they have...the banks actually would not be able to comply because they themselves do not have the money!

So if you look at it like they loaned you "money" that they themselves didn't even have anyway....why would you feel obligated to pay them back?

So what? By principle its still the same thing. Regardless of where you borrowed the money from being able to pay off a loan and DECIDING not to do so is still morally wrong.

[imbosile]

I think you are legally responsible, but morally, no. Who would feel bad not paying back these thieves? People pay off their credit cards and such for one reason only, to keep their credit score high, not because it will make them a better person.

Nobody ever held a gun to your head and made you sign up for a credit card. They are offering a service. If you don't like the terms then don't sign the contract.

[The Creeper]

Nobody ever held a gun to your head and made you sign up for a credit card. They are offering a service. If you don't like the terms then don't sign the contract.

I understand that, and pay my bills. I would not feel morally wrong not paying them though. Also, look at some of the people that had their interest rates hiked up to 30% for no solid reason. I wouldn't blame them for telling the companies to fuck off.

[StreetHazard]

Nobody ever held a gun to your head and made you sign up for a credit card. They are offering a service. If you don't like the terms then don't sign the contract.


and nobody made them offer you a contract, which is only worth the paper it's written on. They are making a gamble on your ability and "willingness" to pay them back. If you refuse or and unable to do so then they themselves "bet on a bad pony" so to speak. They took the risk and sometimes it doesn't work out in their favor.

[Elbow]

Yeah, it's real smart to ignore credit card debt, they will eventually forget about it and you won't be effected.

[StreetHazard]

im not saying you should

im just saying....

[imbosile]

and nobody made them offer you a contract, which is only worth the paper it's written on. They are making a gamble on your ability and "willingness" to pay them back. If you refuse or and unable to do so then they themselves "bet on a bad pony" so to speak. They took the risk and sometimes it doesn't work out in their favor.

Maybe sometimes it doesn't work out in their favor, but you can bet it will never work out in YOUR favor if you decide not to pay the debt back.

[StreetHazard]

Maybe sometimes it doesn't work out in their favor, but you can bet it will never work out in YOUR favor if you decide not to pay the debt back.


here (http://www.youtube.com/watch?v=kUNSTAf2Vho)

just saying......

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[swimshark]

dunno prolly bad to some but i havent had to worry about credit card. been paying bills and stuff with my bank check card tied directly to my account.

[1990wade]

dunno prolly bad to some but i havent had to worry about credit card. been paying bills and stuff with my bank check card tied directly to my account.


im the same way to...comes directly out of my account

[Humphrizzle]

no, i do not feel bad for not paying off my credit cards perfectly in order..

they will not go bankrupt because of my credit card debt.

[swimshark]

we know most peoples answers but in the question he didnt include if we would still suffer the consequences or not. when i get a credit card ill want to be able to pay it off and build good credit cause that just makes life easier and cheaper for other things in the long run.

ill eventually get one but havent had the need. guess ive been lucky to maintain a good job to easily pay off things and pay for school and dont have any outstanding purchases. just work on budgeting things.

and i found a cheaper way to get things. find stuff thats broken and fix it lol. got a broken 50" lcd tv for free and all it needs it bulb replaced. $94 for the bulb and its a simple fix. found tv going for $600 used online but i saved money by fixing something broken.

[alpine_aw11]

I wouldnt feel moral responsibility. Credit card companies thrive on being a bunch of fuckbags.

[EJ25RUN]

Hey op...

Are you Morally responsible to wipe your ass after a shit?

*Makes thread*

[quickdodge®]

I wouldnt feel moral responsibility. Credit card companies thrive on being a bunch of fuckbags.

So when you borrow money, you don't feel morally obligated to pay it back? You think you should just be given money when you need it? Later, QD.

[alpine_aw11]

So when you borrow money, you don't feel morally obligated to pay it back? You think you should just be given money when you need it? Later, QD.

Of course you're obligated to pay it back. But if something were to happen(job loss, etc...) and I couldn't pay a credit card company I wouldn't be emotionally disturbed by it.

[quickdodge®]

Of course you're obligated to pay it back. But if something were to happen(job loss, etc...) and I couldn't pay a credit card company I wouldn't be emotionally disturbed by it.

The question isn't about whether you would or wouldn't or why you couldn't. It's just simply are you morally responsible to pay what you owe. I can't imagine anyone saying no to that. That's why this question/post was completely pointless. Later, QD.

[alpine_aw11]

The question isn't about whether you would or wouldn't or why you couldn't. It's just simply are you morally responsible to pay what you owe. I can't imagine anyone saying no to that. That's why this question/post was completely pointless. Later, QD.

The way the OP stated the question is what prompted my response.

But this thread blows. I should have never come in here.

[quickdodge®]

The way the OP stated the question is what prompted my response.

That's what I don't get. You borrow money and don't feel a moral obligation to pay it back?


But this thread blows. I should have never come in here.

Lolol, I agree with you there. Later, QD.

[alpine_aw11]

[quote=quickdodge®;38697244]That's what I don't get. You borrow money and don't feel a moral obligation to pay it back?

No no no, that's not what I'm saying. I would pay it back because I always return debt, but I'm saying that I feel no sympathy for credit card companies when they do happen to lose money. That's the second half of the OP's question.

[quickdodge®]

No no no, that's not what I'm saying. I would pay it back because I always return debt, but I'm saying that I feel no sympathy for credit card companies when they do happen to lose money. That's the second half of the OP's question.

In all reality, it's the same thing. You borrowed money. Doesn't matter who it's from. Whether you want to or not or not or care or not, you are morally responsible (as well as legally) to pay that debt back. Later, QD.

[alpine_aw11]

In all reality, it's the same thing. You borrowed money. Doesn't matter who it's from. Whether you want to or not or not or care or not, you are morally responsible (as well as legally) to pay that debt back. Later, QD.

Touche. Im so done with this, lol.

[StreetHazard]

Banks are a necessity in Western modern society but they are also predators.

A young man makes his career choice and decides to become a successful banker, just like his father. He wants to prepare for the role and asks his father: "What must I do to become a successful banker, just like you?"

"Son," says the father, "you must follow these three simple rules: first, don't lend money to those who don't have any; second, don't lend money to those who need it badly; and third, the most important, don't lend your own money."

Western banks do not abide by this philosophy

But Islamic banks do not even charge interest, it is one of their basic principals of banking because of their prohibition on of riba (usury or interest). Usury was also prohibited by the Old as well as the New Testament. And just based on "moral" common sense."Morality" depends on your perspective. The Islamic economic system is concerned with social justice to ensure that none of the parties is being exploited without inhibiting individual enterprise. Which to say Islam is concerned with "social justice" is the the very definition of a contradiction in terms. But extended to the Islamic financial system, this means that the funds individuals and/or companies put at risk share the profits or losses resulting from the enterprise. This concept of sharing the delights or pain of the outcome of business is a progressive one. Islamic banking encourages better resources management, in particular as outright speculation is not permitted by Shariah ie Islamic law. But Islamic banks still appraise credit risk, and are more cautious about who they finance than conventional banks.

[quickdodge®]

What did this have........

Never mind. Later, QD.

[StreetHazard]

you know what I'm saying....

to be "morally" obligated to do anything depends on what you consider "right and wrong"

[quickdodge®]

you know what I'm saying....

to be "morally" obligated to do anything depends on what you consider "right and wrong"

Exactly. So you think there is an exception to the "rule" here? You think there is a time where it's ok to borrow money and not pay it back? Later, QD.

[AdriSciontC]

you buy something... even on a credit card you still have to pay for it in the long run... this is a dumb question...