@Anonymous wrote:
Major purchases like housing and motor vehicles require some form of credit.
Everything else should be be 'save for it or go without'.
Burgeoning levels of unserviceable credit are why most nations are neck deep in poo.
I remember an old credit card statement with wording something like...
"If minimum payments are made you will be in the clear in 145 YEARS".
I only use Visa Debit in these times.
Paying off an eBay purchase over time would be a disaster....if you buy more stuff you would be more and more in debt, and if you don't buy because of existing debts you may lose out on stuff you really want Either way it can't be a good thing.
Years ago I paid cash for everything, but knowing eventually I would need to get a loan for a house or car, I decided to get a credit card on an expensive electrical purchase so I'd at least have some kind of rating. Not liking to be 'in debt' I of course paid more than the required amount every month....until I was around 6 months ahead on payments. Then on the next statement I was suddenly in the Red! I phoned the finance company and at first I was told by a snooty customer service person I had to make more payments as it was my fault. I asked to speak to her supervisor. I explained the anomaly and EVENTuALLY she admitted when customers got far ahead in payments they 'for administrative reasons' might reset the debt as though the 6 months never happened...therefore putting customers in the red. For that despicable conduct I immediately got a pay out figure and paid off the card that day. Then I bct up the card.
I've never had a credit card of any kind since and I never will. I won't be usng Afterpay either. I love my debit card. If I can't afford the item then I do without. 🙂
