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Originally Posted by punky
Nobody likes credit cards, but everyone is quick to use them. I think people who try and blame credit card companies should try take responsibility for themselves for once.
I think they are in the top 5 best inventions of the 20th century. This little piece of plastic means that in (I havent check my stats), I can use it in like over 250 countries around the world. No matter where I end up, even in the most destitute countries in the world, someone somewhere will take a CC. All you need is a phone line. People say the charges are too high, but they don't realise how many features they have. They do vary from card company to card company but i got a whole book of features with mine, and I haven't got round to reading it. Give you some examples: Every electric item I buy on it is automatically covered for accidental damage insurance; Any holiday I buy on it, automatically covers me for travel insurance. I dont have one but my mate told me not long ago, that his Barclarycard has a price match guarantee on it. He bought a hard disk, and promptly saw it cheaper somewhere else. Barlcaycard sent him a form, he filled it out, and got a £17 cheque back. But the holiest of holy features, is the Chargeback. Any time you get screwed over, the credit company will be more than happy to get your money back for you, even if they company you deal with isn't This has got many people who got screwed, there money back. A while back, I had to renew my car insurance. I paid for it on CC, and soon after the company folded, and the ombusdman said the underwritters only need to pay out 90% of my claim, even though I had fully comp. A couple of calls, and a fax later, I got all my money back. If I had paid by cheque? Nothing.
Think of online shopping, and how you would do it without a CC. Send cheques to America and Australia? What about the currency difference?
Because of all the features, I use my CC all month instead of my debit card, and then just pay the bill off at the end of the month. Just imagine life without them. Terrible isn't it?
People like that guy, who run up a £70,000 CC bill. I can't for the life of me think how he'd get so far in debt, but if it wasn't for credit cards, i'm sure he would of gone to a loan shark or the like.
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