CREDITCARD ACT OF 2009 how does it affect you?

[TSiFTW]

I'm glad that you learned from your mistake. Unfortunately with the way the system works, you'll be subjected to higher interest rates whenever you take out a loan. Additionally, I use my credit card constantly which builds up my rewards so I get free plane tickets. If you don't have a credit card, you are missing out on these kinds of rebates that are basically free if you always pay your bill at the end of the month. I'm not saying this to say your choice is wrong, just that credit has become a big part of our financial system and if you learn to use it responsibly, it is very beneficial.

My credit is just fine. There is a lot more to credit then credit cards. Most people do not pay their bills every month and the credit card companies rely on that. Therefore all those rewards are just gimmicks to get the average person to use their card. If it works for you that is fine. Just not for me.

[bu villain]

My credit is just fine. There is a lot more to credit then credit cards. Most people do not pay their bills every month and the credit card companies rely on that. Therefore all those rewards are just gimmicks to get the average person to use their card. If it works for you that is fine. Just not for me.

I agree with everything you are saying but I just think its unfortunate that not having a credit card is a disadvantage in the current system. For example, many stores charge higher prices because they know roughly 3% of their profit is gone due to credit cards. So basically if you only pay cash, you are subsidizing all those credit card users rewards in many instances. That's why I recommend everyone to use credit cards if they can do so responsibly. I know not everyone can though and its okay as well.