AOPA credit card --- WARNING.

Chuck wrote:

"Paul Tomblin" wrote in message
...

In a previous article, "Chuck" said:

"Paul Tomblin" wrote in message
...

Anybody who carries a balance on any credit card is an idiot or a

sucker.

Or isn't as wealthy or well off financially as you are...

Nobody is *forcing* you to buy what you can't currently afford, you know.
Back before credit cards existed, people actually saved up money ahead of
time for major purchases, instead of all this "buy now and pay later"
instant gratification stuff.




Ya know... I didn't say that paying the balance off was a bad thing. I guess
what kinda ticked me off about your post was you said that people were
idiots or suckers for not paying the balance. I merely pointed out that some
people can't do that.

If I get a new job and have to go to Sears and buy $2,000 worth of tools, I
will not be able to pay the balance off in one month. But I gotta have the
tools if I want the job.

That is exactly why any financial advisor worth their salt recommends
that you save an amount equal to 3 - 6 months of expenses as an
"emergency" cash fund. Yes, it takes time to do this and a lot of
self-control, which most Americans no longer have, but that eliminates
the need to ever use a credit card for a situation like this ... or a
transmission failure in your car ... or a leak in your roof, etc.

Rather than save, most people use credit as their emergency fund. And,
as Paul said, that is a sucker play.

Matt