Hahahahaha ... and we also need credit cards ... when will it be a breeze instead of a pain, for foreigners to get credit card in China? What happened to trust?
Credit cards are the Devil's 名片
Use debit!!! Only spend what you have!!! And not all of it either!!!
There is no need for credit cards, except for the Bank's need to fu(k its "customers" in the ass every 5 seconds.
Hahahahaha ... other than I lost one AMEX statement by mail many years ago, which cost me about 30 bucks Oz in interest, I have never once paid interest on credit cards :)
Only spend what you have!!! And not all of it either!!!
Agreed, but from what I have observed over the years, you dont need a credit card to go broke every month ...
It just needs a little self-control ...
Hahahahaha ... you were referring to the "sales pitch" of a product, namely credit cards, but not the credit cards itself ...
The thing is that the banks in China, actually, as well as Hong Kong, have not provided the education of how to manage money, always “selling” the plus side of credit cards, which is convenience, but omitted the down side, which is debt and interest ...
Like what Minus said:
Only spend what you have!!! And not all of it either!!!
I have an AMEX, as well as a Visa from an Oz bank, plus a Chinese one, the total limit of which is within my affordability, but it does not mean that I will ever spend that much ...
With the ATM thing, it is so not related to credit cards anyway ... heehee :)
but the banks are doing it so wrong.
Tara, the Big secret, which in fact is not at all a secret is: The banks are doing it so RIGHT (for themselves).
I'm not capable of paying back that amount in a month if i used it all.
They are literally DESPERATE for you to go over that amount AND not be able to pay it back. Why? Because then they are able to generate near infinite profits off your "debt" until you can "pay it back in full" (regardless of whether or not you have "paid it back in full" through accruals ten times over).
You see, the interest the bank charges on credit loans is ALWAYS higher than a conservatively adjusted rate of return on its other investments. The bank would in fact far rather get you and a million of your friends into massive debt that invest in projects which may or may not create a return. One thing it knows though, about individual debts, is that they can bully and chase the debtor pretty much for the rest their life. Sure, some bad debts are written off, but individual debtors to the bank are their absolute best bet of continued revenue stream - without really having to take on any new risk at all. Its sick really, and degrading society the world over.
Hahahahahaha ... that reminds me of this: 无商不奸 ... they can of course make it better, but they wont ...
From the view of 阴谋论, maybe that's why they make it so damn difficult for foreigners to get credit cards, because they know that they are less likely to make money out of interests ...
but let's not leave personal responsibility out of the equation, shall we?
Well said. There existed for sometime, and it is still the case, i'm sure, a situation where the overwhelming majority of the "middle classes" in both the USA and western europe were living beyond their means (the oft uncited REAL reason for the global financial crisis). But what of the culture that created this obsession with outdoing ones neighbors and 'Keeping up with the Joneses". Well, without credit, this would never have happened, and without the concept of "credit" as a potential avenue of profitable investment (more profitable than other means) for the banks, they would never have offered it as a product.
It's called risk, which is reflected by the interest rate.
Interest rates are made up not of just risk calculations but also profitability calculations. They do far more than cover just risk - but perhaps there should be legal provision for them to do just that. (Another discussion.)
People always talk about things like "the banks should have done more background checks" - sorry, but, nonsense. This would imply that there should have been selective laws in place to determine what "type" of borrower can be lent to. Why do this when the bank is perfectly capable of doing the calculations themselves... Far more logical would be to put a limitation on the level of accrued payments a debtor is liable for - THAT would make the bank more selective about who they lent to without screwing up anything important - such as the cashflow of small businesses which would otherwise rely on microcredit.
On better background checks for loans: The banks would only (will only) do this when it becomes PROFITABLE for them to do so. Until now (and tomorrow will no doubt be the same) banks will NOT conduct thorough background checks on individual small loans and credit card advances. Why? Because it would not be profitable for them to do so; the small amount gained through a reduction of bad debts would be offset by the cost of the background checks themselves. Unfortunately, it serves large banking institutions better to just go ahead and extend a loan to anyone who wants one, then capitalize on the excessive interest they deem you owe to them. All governments wholeheartedly support this thuggery, incidentally.
Hahahahahaha ... dangdang? That sounded familiar ...
After read this, I have a trascendental question>
Communist governments make people stupid
They were born stupid and for this reason they live under the rule of a communist goverment??
numb, number, numbest
numbness has its advantages
Taylor 为什么这么喜欢说 前门楼子？
oh Gosh! hahahah!!!! hey, buddy gay Ding dang, see so many 猴子s come to show their photos after your order.