I feel it is in the banks' interest to keep you in debt. It is to their best interest afterall when you keep paying them. They keep in business by continuing to make money off of you.

Sometimes emergencies just come Up I think if you have a history of on time payments they could work with you too lower those insane interest rates

I’m retired & can’t get a credit card due to this so maybe this should apply to all lending facilities, any pay no credit including unemployment & pension applicants. Then this would lower a lot of things. Money makes the world revolve……& humans are the only ones paying

Cash for me, when I kick on from this world, they will be looking for all of my jars all over this house, no cards in my wallet

I don't think that it is the credit card companies that are the problem. I think that people spend beyond their means. I have several cards and I pay them off every month.

The banks benefit from this because of interest people pay, so the credit card issuer prefers for people to make minimum monthly payments because of the interest charged.

I don't think banks care about their coustomers. They just care about money

做生意需要几张信用卡，有时候确实需要信用卡缓解资金周转，前提是有一定的还款能力。有时候收不到款，还要给供应商还款，很麻烦，没有足够的资金，生产就无法进行，所以多备几张信用卡以备不时之需是必要的。

My husband and I always pay off the total balance each month when the bill comes. We use American Express the most, because we get 2% back on EVERYTHING (including healthcare premiums and prescriptions). We use Citibank's credit card to get into Costco. Other than Chevron/Shell gas cards which we only use on trips, don't have any other credit cards.

No CREDIT CARD for me. I do have a debit card - that is all.

Banks always determine the financial position of the customer prior to the approval of a Housing Loan or Credit Card to ensure that they can meet the necessary repayments.

it is up to the public to make choices that are suitable to them

I think a debit card is safer - you can use it for payments the same as a credit card and not be able to spend what you do not have so theoretically cannot get into trouble.

I’ve never had a credit card an I’m 75 stupid thing to have always in debt.

Financial institutions are checking applicant’s’ credit and loans to make sure they can pay off their credit limits. Instead of relying on others to control us, maybe education of personal finances and why financial institutions exist (to make money off individuals) should be taught in school & family. So, young adults are less likely to use credit for things they have little plans to pay off soon.

CREDIT CARDS ARE THE GREATEST THING SINCE SLICED.BREAD WE PAY FOR EVERYTHING ON CREDIT CARD, PICK UP THE REWARDS AND BENEFITS AND HAVE NEVER BEEN IN FINANCEL STRIFE. THE SECRET IS ALWAYS PAY IN FULL AT THE END OF EACH MONTH. NEVER SPEND MORE MONEY ON YOUR CARD THAN YOU HAVE IN YOUR BANK ACCOUNT. HAVE YOUR CERDIT CARD MONEY IN A SAVINGS ACCOUNT COLLECTING SOME INTEREST. VIVA LE CREDIT CARD

It’s all about how you use them. I have two credit cards, one is for transactions that are viewed as cash advances, and every time I use it I transfer the amount back to the card immediately after any transaction, so I never pay fees or interest. The other is for general shopping and purchases. A card makes life so much easier, and it is always paid off in full each month. You can’t mix cash advances and general purchases on a card and avoid fees though even if you pay off the card in full each month, because cash advances attract interest immediately. Once when I did mix them up because of a problem with one card, it took 3 months before they stopped charging me interest, despite paying the card off in full for each of those 3 months. PayPal is another great lurk if you buy stuff online, easy to use and lots of buyer protections, and benefits from using it, including PayPal pay in 4 option with no interest and no fees.

The interest rates on credit cards are so high that you are continually paying off interest and not making much of a dent in what you owe. I am cutting mine up and paying it off. Interest free BNPL is a better way to buy the things that you need in a hurry.

I used to have 3 credit cards but I paid them all off & closed the accounts. You see even if you owe nothing when you have a credit check the limit on your card is taken into account as "possible " debt. Paying the last payment on my card was an eye opener. You get the bill & pay the outstanding balance owing....all good it's now zero or so you think. I call them to cancel the card & they tell me there's interest owing. How can there be anything owing I paid the outstanding balance in full so it must be zero... "Oh we'll wave the interest !" they said. No one could tell me why there would be interest owing & the phone went down when I kept asking for an explanation.You couldn't pay me enough to have a credit card now !I have since bought a brand new car & paid cash so no car loan....feels great !

It isn't the job of any bank to stop people from being idiots. They are banks where you either borrow or invest your money. I can remember the days before credit cards, but that was also back in the day before I had ever heard the word inflation. Back then if you wanted a new TV, lounge, fridge etc. you decided which one you wanted then went home and saved for it. My husband and I had a block of land and had the plans for a house drawn up and got a quote and were all set to go but the Government changed, they spent like drunken sailors and for the first time we heard the dreaded word "inflation". The cost of our house went up every week by more than my husband was earning. We got a tax bill but didn't have the money to pay so a bank gave us a credit card to pay the bill. We still have a credit card, but not that one. We have a joint one and I have one in my name, it's something I would advise every wife to get because if your husband passes away EVERYTHING gets frozen but until the will is read life goes on. Credit is very useful if used wisely.

The trick is to only buy what you need and paying it off in full each month.

I agree with Carol's Dad. Don't buy it if you don't have the cash.

My Dad always said, if you don't have the cash to pay for it, then don't buy it. I have credit cards, use them and pay them off monthly. In the United States, you cannot buy a home or car without a good credit score and it is based off your spending and payment history as well as your debt to income ratio.

We should all live within our means, even if we have to borrow the money. - Groucho Marx.

Definitely. One credit cards is hard enough to pay off let alone having more than one. Instant gratification is what people are after these days. It's bad but the banks don't care.

credit cards should be used on an as needed basis and paid in full every cycle.

'Most people' is a gross exaggeration. Certainly, some people overuse them & having multiple cards for an individual ( excluding for small business) can absolutely be a recipe for disaster. There is no issue if you show restraint & use them wisely. I have had a credit card for many years & never had an issue as it used sparingly & paid off before the interest-free period ends. That way, no interest is paid. Banks should definitely not be giving credit where people cannot demonstrate they can afford to repay it . Unfortunately what also happens is some people on low incomes can't get credit so end up taking out payday loans & other predatory lendering products (to fund things like car repairs or appliances) at astronomical interest rates. Banks profit way too much from credit cards though. Even when general rates are reduced, they rarely seem to reduce credit card rates. Edited 05-Mar-25 16:18pm

Credit cards should be for emergencies only, not as a means of buying something you can not afford when you keep up with the Joanses it meen you want to be in as much dete as them

yes

We have never paid interest on our credit card & now have changed to a free one, unfortunately it cannot be in two names I am the second card holder, if mu husband dies I will not have a credit card, I have been trying to get one in my name & am having difficulty , yet people who have huge debts seem to be able to get them without any trouble at all, I can remember my daughter at one time kept changing for better interest rates as at the time she & her husband were getting into a lot of debt she was using one card to pay for another which I believe a lot of people do & there is me own my home no debt although not travelling at the moment have travelled business class.

Up to the person using a credit card to take responsibility for their spending not the bank.I do think just one credit card should only be allowed to be issued as one is more manageable then having 2 or three cards that can easily spiral out of control with overspending.I have one that is only ever used for emergency things like vet bills and other medical needs.Edited 05-Mar-25 16:00pm

I don't think banks should stop providing credit cards because it is a great financial help to those who are so much in need. A credit card is the best option when you don't have any penny in your pocket for paying bills, rent, groceries, and fees. It is a friend of people who will always be in difficult times. Moreover, it also makes it easy for people to fulfill their wishes by giving payment plans for people. So, a credit card is the best help that a bank is giving to its customers.

my card gives rewards points for using it so I pay for everything with it, but don't live beyond my means and pay it off in full every month. the rewards points buy me giftcards that are worth more than the fees I pay on the card. plus i get free travel insurance which saves me hundreds when i travel. It's a great product if used wisely.

I'm 58 and never had a credit card in my life. I save for everything I want to buy... I think young ones today should do the same as its exciting seeing yourself get nearer to your target. I think you appreciate things more and take better care of them. I do think it's wrong of banks to let people have to many cards so it becomes uncontrollable for them :-(

Credit Cards are cheep as long as you pay them off each month. The banks do like too keep control. The more interest you pay the more they like it.

NO if people can not manage their funds it is not the banks problem. I have many credit cards and I have manage to pay off 2 with 1 going into being paid off within this year. I do not know what I would have done without extra credit cards during Pandemic. I thank the bank for more than 1 and to be able to have a higher credit limit through multiple cards. Stop trying to limit people's freedom of choice because of other peoples bad judgement

Mum had a partial hip replacement last night, she's doing well. Just got off the phone from talking to her and this is kind of funny she thinks she is at a party. She's a little confused poor Mum but doing well thankfully.

Credit cards should be used wisely. I had one for years and always paid it out every month. I don't' really think you can blame the banks to limit how many to give you. You might have money that they are not aware of and it really is up to the person to know how much they can afford to pay each month.

Yes I do think Banks can rack down on this some people are applying on line and the card turns up in the mailbox. We have ours for emergencies only.

Dumbest question I've ever heard. Instead of blaming banks or credit cards, how about taking responsibility for your actions. Why should I be limited from obtaining credit cards just because muppets can't live within their means. Look at yourself before blaming everyone else.

I use my credit card for just about everything and pay the balance in full each month so that I don't pay interest. When I was working, my salary went straight into the bank and anything left after paying the credit card went to the mortgage so when I retired, the house was nearly paid for. A person has to be careful to pay the full amount though.

I really dislike Credit Cards. They can be the cause of serious financial problems. I had one many years ago and always paid it off every month. Now I just don't buy something if I don't have the cash in the Bank.

Yes! In most cases. Regardless of whether people can handle credit cards or not, the greed of the banks and card companies will cause them to continue to hand them out like smarties...m&m's.

Yes

No, because there are people who can handle credit cards, like me. I only use mine to keep my credit score over 800 by buying a small amount, then paying it off the next month. Maybe, if a person can't control their spending, their cards should be locked until they pay off their debt. ;-D

I have 1 credit card, I never pay interest on because it has 55 days interest free period. I remember hearing my sister talking about paying 1 credit card with another credit card, up to 5 and even adding on to that. What is credit cards. It is certainly paying debt with debt. Still when 1 person buys something from a shop, with a credit card, and then that person even uses that money to buy something else, and the next person could use it to buy some thing else off the credit card holder, and the credit card holder could use the money to pay off their credit card. There was no money it was only credit. It is like there is 6.14 trillion of credit debt in Australia, and it all has interest on it, so how can it be paid back to the banks in that way. The Banks just have to keep making house prices got up. And to help them adding to 3.8 trillion dollars of house hold debt, the banks must have assistance from the government adding to it's 2 trillion dollars of debt. Which all has interest payment back to RBA. But if the government doesn't have enough money it needs to get more debt off the RBA. Fiat money has no limit other than interest rates. And there is a good possibility it is collapsing if it spiralls in out it self to much. Edited 05-Mar-25 13:49pm

Always pay on credit card but pay off when due, so no issues. If can afford do not buy

Banks are rubbing their hands together

Yes to a certain extent. Banks love you being in debt more people paying interest to pay them off.

Credit cards are necessary for paying for some things. People need to learn that the plastic they have in their wallets and purses is a debt, not money, If used wisely, such as pre funding and only using your own money they are fine. It peoples lack of financial literacy that is the problem here.

Got caught in that trap but fortunately woke up before it got out of hand. Scrapped two and now have just one which I pay off in full every fortnight. Only use it for Recurring Bills like Monthly Car Registration, Quarterly Energy Bill, Phone & Internet. That way they get paid on time so I avoid Late Payment Fees and I can just transfer amount across. That way I also avoid the totally Unfair Interest rates charged on Credit cards.

Who lives on credit...I dont and never have.If I cant pay for my products then I dont purchase them

I don't have any

No don't live on credit. We save up for what we want and need even if it means taking awhile. Once we finish renovating we need a new car but it will take us roughly 15 years to save up for that and our car is 15 years old already but no one cares about the little people only themselves and where their next million dollars is coming from.

I've never had a credit card, but partner wanted extra cash so we ended up taking out a secured line of credit, so we use that. Hoping to pay it off when his mother's estate is finally wound up.

I have a couple - one is my main with a low value and the other is a backup in case I go over due to something unexpected.

I never get approved for any and I don't really care haha I guess I didn't need one

The problem is when so many things are out of control, which the card problem indicates, what alternative is offered to mitigate all the other bad things leading to the card abuse?

I have 1 credit card never paid any interest pay it off monthly, I use the banks money first and I have a debit card as well.

I only have 1 credit card for emergencies. I used to use lay-by all the time(do they have it anymore?)

Cancel your Credit Card and get a Debit One instead. That's a way out.

I cancelled my credit card years ago - too easy to land in debt!

Banks want to make money, as well as large retailers who offer their own credit cards at high interest rates. Better to see a financial adviser or credit company to pay all off at a lower rate and a lesser amount. I went through it myself.

I used to have 2 credit cards. One was a Woolworths credit card which I'd use to pay for my shopping then when I got home I'd pay it back. When they changed to a different bank the fee on the card was too high to consider so I cancelled the card which left me with just the one. I'd had this one for over 30 years but it was mainly because I was paying all of my Mum's bills. She'd book up at so many places saying I was paying. She ended up leaving me in over $50,000 in debt. I never used the card again but I kept it for emergencies only and just kept paying each pay day till it was paid off. Just when I was debt free I was injured and had to give up my work. I cancelled the card because I knew I wouldn't be able to pay it off again. When my husband passed away he left me a small sum which I've had to live off ever since. I'm now getting an allocated pension from my super because I'm finding it difficult to get the aged pension. I've been trying for a year now and it's still difficult. Saying that, I still would never get a credit card again.

Before covid I lived from paycheck to paycheck. Then I did something that changed my life...I cut up my credit card. 6 years later I am debt free and have a good savings lump in my bank. If I can't pay for something in cash...then I don't buy it. I've paid off my house and recently got a 2nd hand car just 3 years old which I paid in cash. Buying things with a credit card feels like free money. Out of mind, out of sight, but when you pay in cash...you really think about if what you are buying is worth it?

I love my credit card. It enables me to buy what i want and defer payment, I keep my money invested and earn interest. I do pay an annual fee but the value of points i earn is much larger than the fee. I get more from the bank than they get from me and i love it. Almost everything goes on the card. If used properly they are a great product.

I agree with empress

The banks can't regulate for stupid. It's your problem if you live beyond your means.

If you don’t have control over your finances then you shouldn’t have a credit card, I have one & don’t work but control my usage & it works. The only issue is the annual fee so look for one without this & use it to your advantage, good luck with it.

A long time ago when credit cards from Bankcards were out my boss got one. He used it and paid off bill in time. He got a letter from bank and manager wanted to see him. At meeting he was told Yes you are using the card and paying it off at the time BUT that is not the spirit of it. You are not paying interest on it. Boss asked for scissors and cut the card up and walked out

Currently I do not have a credit card .Michael

Banks are like owls with a sore throat. They don’t give a hoot how many cards someone has. More money to share with the shareholders. So much for credit checks unless the person is using a dodgy name

A bank is a business, it's there to make money for its Shareholders and is not so good at social service.

Don't have one. People should be able to say no to too much credit.

Have never needed a credit card so have never used one. I try to save to buy stuff otherwise use a loan if I have to for big cost things like cars, washing machine, fridge etc. and pay it off asap. Currently debt free and want to remain debt free. Don't care about borrowing to look rich as I don't need to feed my ego any more and I value integrity more.Edited 05-Mar-25 10:09am

I wont have a credit card only a debit card that way byou can only spend what you have

i only have one thats all i need and pay off every month only use in a emergency i pay cash all the time

I have one

I don't care what banks do, it not up to the banks. It's the idiot who get credit cards and live on them. That why I don't have one and never will so I can live within my means.

It is not up to banks to control spending it the people using common sense, which most have lost. So many people went into debt over Christmas, some not even last Christmas paid off. THAT is STUPID...who are you trying to impress with your spending? Talk to your children, teach them about bills, etc. and if money is lean!!!

I don't use credit cards they get you in debt! I use debit card that way I spend better!

Another one trying to control people. People were given the ability to chose by a higher power, so no one has the right to force others to live by their code.. I dont have a credit card never have, but trying to control others is lunacy. It shows the ignorance of todays society when they thinks its ok to force their beliefs, good as they are, on others. GROW UP and mind your own business. With respect. But the amount of 'CONTROLLING' questions is getting ridiculous, but thems the breaks

Yeah they should do what they can

Very true the apt rate are three rdr

Banks and their credit card offerings are the Donald Trump of the finance sector

My husband and I have no credit cards at all. If we want or need something, we save for it. We have just bought a luxury car and are going on a cruise. (We saved for it). It is not necessary to go into debt to live. The only money we have used was to pay for our home.

We had a credit card but we paid every single cent when due. We never gave the bank a chance to charge us an extra fee,,,am I "greedy"?

I only have a debit card so dont have problems can only spend what I have in the bank

I have a credit card as a back up only. I use my debit card for everything. I believe the banks issue them too easily and far too many people are getting into debt out of their control.

I do not live on credit and neither do any of my large group of friends.

We have one credit card and the balance is paid fully every month.

debit card for me then I know the money is there. I have a few accounts that get a small amount each pay day. eg car, holiday, pets, savings, insurance. I then knoe the money is there when needed for these things

I have 2 credit cards but they get fully paid by the due date to avoid interest charges. I treat them like an interest free loan for a month.

Credit card is a necessary evil especially when you travel overseas.

Banks / credit card companies don't really care if you have multiple credit cards. There have even been credit card applications sent out to babies and pets! With today's inter-connected computer systems, it should be easy enough to see if someone applying already has a credit card, and then at the very least discuss with them whether they really need to have another one. I have one credit card that I use for almost everything (I don't have an EFTPOS / debit card), but I aways pay off the full amount every month.

I don't have one, if I want something I save for it

We have no credit cards

I have several credit cards and I pay the full amount charged on them each month - no problemo!

I have more than 1 credit card but do not use them very often and pay by cash or using my debit card that uses my own money

I buy prepaid cards