Comments on: Agreeing with the 2008 Consumer Action Credit Card Survey http://www.mattmcgee.com/credit-cards-evil/ I got your tagline right here... Wed, 08 Feb 2012 16:57:27 +0000 hourly 1 By: David Mihm http://www.mattmcgee.com/credit-cards-evil/#comment-277 David Mihm Mon, 28 Jul 2008 16:25:52 +0000 http://www.mattmcgee.com/?p=176#comment-277 A: I'm not sure. All I know is that when I tried to use a debit card at the Enterprise rental window at the Burbank airport about two years ago (because I didn't have ANY credit cards at the time) they took it under EXTREME duress. Maybe debit cards somehow allow people to rip them off, but they can get compensation from the credit card companies if that happens? I really have no idea. A: I’m not sure. All I know is that when I tried to use a debit card at the Enterprise rental window at the Burbank airport about two years ago (because I didn’t have ANY credit cards at the time) they took it under EXTREME duress. Maybe debit cards somehow allow people to rip them off, but they can get compensation from the credit card companies if that happens? I really have no idea.

]]> By: Matt http://www.mattmcgee.com/credit-cards-evil/#comment-276 Matt Mon, 28 Jul 2008 16:18:47 +0000 http://www.mattmcgee.com/?p=176#comment-276 It's totally effed up. They charge higher interest rates to the people who have less ability to pay, making those people more likely to miss payments and go into default. And that's just one example. :) We've been credit card haters for a while, but since I've been reading The Consumerist over the last year or two, it's only reinforced my feelings. Q: Wouldn't the rental car companies take a debit card to hold a reservation? How do they know the difference? It’s totally effed up. They charge higher interest rates to the people who have less ability to pay, making those people more likely to miss payments and go into default. And that’s just one example. :)

We’ve been credit card haters for a while, but since I’ve been reading The Consumerist over the last year or two, it’s only reinforced my feelings.

Q: Wouldn’t the rental car companies take a debit card to hold a reservation? How do they know the difference?

]]> By: David Mihm http://www.mattmcgee.com/credit-cards-evil/#comment-273 David Mihm Mon, 28 Jul 2008 15:30:06 +0000 http://www.mattmcgee.com/?p=176#comment-273 Amen indeed. I currently own exactly (1) credit card, which I use ONLY when places like rental car companies need to put a refundable deposit on there. But, this presents a problem, because as I am not a homeowner, I have NO credit profile, something which caused me to pay dramatically higher rates on my car lease. How f&*&ed up is this system, where someone who avoids relying on credit is penalized for good behavior?! Glad to see that you guys are helping in your own small way to end the credit stranglehold on this country. Amen indeed. I currently own exactly (1) credit card, which I use ONLY when places like rental car companies need to put a refundable deposit on there. But, this presents a problem, because as I am not a homeowner, I have NO credit profile, something which caused me to pay dramatically higher rates on my car lease.

How f&*&ed up is this system, where someone who avoids relying on credit is penalized for good behavior?!

Glad to see that you guys are helping in your own small way to end the credit stranglehold on this country.

]]>