On 18/11/2008, at 9:02 PM, Alberto Monteiro wrote: > > Nick Arnett wrote: >> >> I think it is important to recognize that having credit card debt is >> not inherently bad (no matter what my parents said). >> > It depends on how much are the interest rates! Here in Brazil, > they are ~ 10%, so it's a very stupid idea to have a credit card > debt. It's better to postpone paying taxes and bills.
Heh heh - that's pretty low by some standards - 15 or 16% was common when I was in the UK and I've seen higher than that for fee-less cards. I reckon credit cards are good for sudden unexpected expenses. Say I had a family emergency and had to buy a plane ticket back to Europe and fund getting there and dealing with things, a cc would be invaluable. But then servicing that debt at the minimum repayment would be folly - it's important to pay it off ASAP, 'cause otherwise one is just throwing good money after bad. Charlie. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
