Anyone else upset at this commercial:?

Question

There's a commercial for a credit monitoring service. The dad (50-ish) and son (30-ish) work in a garage, and see this fancy red convertible. The dad is envious, and says "I wish I knew who could afford this". Son: "I bought it."

Dad: "How?"

Son: "I watched my credit like a hawk, and got a great rate"

Whatever happened to buying stuff with CASH?

Answer 1

It's laughable at best.

That's how people are brainwashed. they are taught to borrow, borrow, borrow. We are taught to worship the great fico. People let the fico score "RULE" their lives.

If people pay as they go. Live on less money than they make. they will have money and not have to worship at the alter of the great fico.

Responsible people don't play the credit card game. And they don't have to worship the great fico.

Answer 2

I guess I do not understand why you think those with good credit should not be rewarded as opposed to those who have shown a total like of responsibility.

Not rich but I can pretty much buy anything I want and with cash but i choose to use ny credit cards as they were intended by paying them off at the end of every month that way one does not pay any interest at all.  Your interest rate is in your hands regardless of what the card company charges.

If I can, and I can because of responsible usage, get a TRUE 0% rate on a credit card for a year then why take money out of savings to pay or a car or anything else.  In a year I could make quite a bit of interest then pay off the card so I accrue no interest.  So I guess yes rich people do use credit to their benefit not the credit card companies.

Answer 3

Most rich people have charge cards like the black card from amex where they pay off the bill in full each month to avoid interest. But if you have good credit, why not milk to credit card company, its called a free ride. for example ,I have excellent credit and my credit cards are 0% apr - 6.9% apr and I pay in full at the end of the month to avoid interest and others with bad or not so good credit have to pay interest. So for people whos not rich and they take loans for homes,cars, and boats.its nothing wrong with borrowing from the bank if you are responsible and know that you can afford it. so credit isnt something to be abused or it can cost you thousands in the end.

Answer 4

Obvious from the thumbs down you did not want anyone who has ever been responsible with credit to answer so I shall not waste my typing.

No one but YOU is responsible if you incur interest rates of 25%.

Answer 5

I just get tickled with commercials like that...and the sad fact is most people fall for it. They know most everybody dreams of all good things material. Its all about instant gratification. Be grateful u r smart enuf to see those commercials for what they are....predatory.

Answer 6

The lesson is be responsible with credit.  If you do, you will get better interest rates, making things more affordable.

Big-ticket items (houses, cars) are almost always purchased using credit.  It's buying consumer goods that you don't need on credit that is the killer.

Living well within your means, being smart with how you use credit, and then buying something that you can afford on credit (and then paying the note off on time) is the right message.