Topic: Why do people get credit cards loan? (Read 1218 times)

I never had one, but I think it is not a bad option in case you face some temporary income issues

I think,People get credit cards loans for various reasons, such as making large purchases that they can't afford to pay for upfront, paying for unexpected expenses, building their credit score, earning rewards or cashback, and for the convenience of not carrying cash. Credit cards can also offer low-interest rates and flexible payment options, making them an attractive borrowing option for some individuals.

Credit card makes you spend more than you make
Obvious reasons why people get into debts is also the simplest
Credit cards makes it possible for people to out spend their earnings

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Why do people get credit cards loan?


To build up their money owed to banks to like $50,000 or higher, and then to stop making payments. Of course, they set their life up in ways where they don't own anything the banks might take... placing all their stuff in trust. Then, in court, if they don't win... even though banks can't loan credit, legally... they make sure that they can get set up where they pay off their debt a dollar a day.

But winning against the banks is very possible. Karl Lentz can show you how to do it - https://www.youtube.com/c/CraigLynch/videos. But you,ll have to search for it.

Or you can go to http://voidjudgments.net/ and https://www.whatliesinyourdebt.com/.

Oh, and if anyone thinks that this is immoral or unethical, it isn't. When the borrower signed the credit card application, he really issued an open-ended negotiable instrument to the banks. All of his CC borrowing is really a creation of new money... not a loan at all... at least not in the final analysis.


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We get credit card loans so we can buy things when we do not have enough money saved. I use my credit card to make purchases so that I have more money in my bank account.

Make it a realty to not pay credit card interest was hard for me. This here is the hardest part for me when I am behind on my bills.

Because they don't know how greed will come after and the risk of being compromised  , let them experience it themselves .

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in fact it is an intelligent use of credit cards, personally I had never thought of a card with a rewards program in fact it is almost free money, I don't really like the part of the repayment in in monthly installments but I think I will try to open one too

That kind of loan is clearly not for everyone, i would say it's for people with a more stable financial ground and don't like to carry cash around. The credit card loan scheme your illustrated above is very hilarious, do people actually do that? That's really unbelievable!

Advantages Credit Card Loan is you can borrow money in urgently needed, a lot cashback for buying stuff,
With identity confirmed in a bank, you will get easy to buying anything, or credit anything you want with monthly payment to Credit Card

Credit card loan is helpfull for half people in urgent needed, but you must wisely use it.

There are some responsible credit card holder mate and not all people are having that mind set.

Like me when i was new in having credit card,I tend to get 1 because sometimes situation comes that i am lacking of cash since i have a family to fed,so credit card is my Night and shining armor to provide for what my family needs.

But now,i already surrendered all my cards since i Have my Crypto wallet that in cases that My pocket is out of money still there is my option.

Credit card loans have a lot of benefits and a lot of interest shopping online or in-store purchases - both using credit cards and relying on credit cards for air tickets and hotel bookings abroad. Sitting here I can buy tickets for different airlines around the world. Apart from that you can get a discount if you buy tickets on these cards we give a part of it to the customer the bank gets a lot of profit from it.

in my country those loans give more money that people have, so most of us it buy something they can afford, the bad thing is, they do it with money they don't have, to buy something they can't afford.

Because...people want things they can't afford. never let a credit card loan lead to your bankruptcy.

People need necessities.

While they haven't the cash on hand, they get loans or credit cards for the advancement of their needs. But with people that I know, they don't know how to use their credit cards. They use it for entertainment and mostly in leisure and things that they don't actually need.

I've also met people who own a credit card that was wisely using it.

I have no plans of taking one.  I don't attain to pay with interest nor there's something where I can use it.

I spend £1,000+ onmy credit card every month. I get a small cash reward, which I receive just before Christmas. I've got the card set to automatic payment of the full amount when it becomes due, and that is generally between 30 and 60 days of the purchase. I don't think of it as a loan, and I make sure I have enough in my debit account to clear the balance at any time. Were I not to clear the balance, I think the interest rate is 13.9%, and that is a mad amount for a loan, especially in the current banking climate. I pay nothing in interest, and I get a small payment in return for using the card.

Mostly people use them for everyday expenses and to look after their family but i think taking a loan in any form is not the right thing to do as it increases financial stress and burden on you.

it never crossed my mind to make a credit card loan...
doing a credit card loan scheme as you described is actually very dangerous, lucky you if there is a bank that will continue give you the loan, what if not! it will only lead to fraud.

Yes, you will get more credit until you can't pay the debts so they will seize your assets or bank accounts.If you know how to use the credit cards in the profitable manner then you are good to go but don't spend money on useless things which will eventually make your life depressed later.

Here in my country, an increased on maximum allowance helps a particular person specially if they are applying for a bank account which happens to be a requirement for a U.S. visa let's say. So, it is really going to factor in if they were granted an increase in maximum allowance.

Then you will end up paying debts for the things which is actually not necessary for you. That is the real truth behind credit cards.

If you have credit card then use it wisely like spend on something more important and you have a month to pay that money but make sure you have the needed money in your bank when you are buying itself.

People get credit card loans because they're an enormous business and that they need a card to transact business There are many companies that aren't ready to transact without a card. The more I take a loan through the cardboard the more it'll be known and therefore the next most borough is going to be available Usually people get credit card loans for business purposes.

So many reasons why depending on everyones preferences, if i would get a credit card i would be using it to purchase online goods and stuffs.

Why do people get credit card loans?


The smart people get CC loans for 3 reasons:
1. To build up their credit so they can borrow a lot more;
2. To borrow the max and stop making payments and keep the money;
3. To start the whole process over again, since it's easy to get out of paying it all back, and since it is easy to cancel your bad credit with the credit reporting agencies.

It's simply a job for smart people. And because of the way the fiat banking system works, they aren't really loans, so it's legal and moral to do.

There are so many people who cannot control their allowance and if they increase it then they are going to spend so many that they are not going to control it.
It is in our nature to be greedy and if you have a lot of money you are going to spend the max of it.

But what if I don't play at all in casinos, will your link also help me?  And how is it really a reliable method of protecting my funds?

Exactly what I'm talking about as well. That's why it's important for borrowers to understand and find out the nitty gritty details before going on a spending spree. Use a credit line for a specific loan wisely for it's specific intended purpose i.e. housing loan, car loan, personal loan, business loan, etc. And use the same principle for credit card loans also. Athough I must admit, having the ability and freedom to purchase quickly using a plastic card can be sometimes hard to control. But that is the challenge that every credit cardholder or an aspiring one for that matter must face and decide upon, once he or she gets approved of a credit card.

Also, the interest rates for deposits and for loans or credit card loans may vary from one bank and country to another, but the general idea and principle behind these lending instruments remain the same.

Banks will give you 8% interest rate for your deposits but they will charge you 14% or more interest rate for our loans and this is how banks are making money.Credit card loans are more harmful for individuals if they are not be able to pay the amount in the right time because the interest rate is more than 30% and which increase more depends on banks and countries.

I totally agree that people can certainly take advantage of these rewards, of course.




Simply because the banks are in the business of earning money and in order for them to earn, they must lend the money instead in order to earn money.

Also, because they have deposits and investments that they need to pay off those interests as well.

You can get rewards while you are using credit cards for your purchases for that some people are using credit cards even if they are having enough balance on their account so this is the smart way of using credit card and you are not going to pay any taxes for that used amount.

But why banks are giving credit cards to the people, has lot more intentions!

A credit card is a type of loan that you can conveniently access in the form of a plastic card by either swiping it on a terminal, entering a pin code, or entering your card information online instead. While the credit line may vary from the bank credit card issuer, it may also vary based on the credit card holder's credit rating.

More importantly, the reasons why people get a credit card may be subjective and different from one person to another. But one fact still remains, a credit card can help you or not financially, mostly depending on how you manage your finances and how you handle your credit card payments as well.

Also, personally I would feel much better a credit card to help me out for unexpected medical or emergency expenses. Therefore one must have control over what's really necessary to purchase, depending on how you view a particular purchase as a real "need" compared to perhaps if it's only a "want" instead that's really not necessary to purchase at the moment.

when you urgently need money, this method saves you

I can feel you mate thats why i have hold my credit cards and starts living with the money i worked for.

I realized that i only drowning my self by borrowing money that i also need to pay in a certain time when the truth is we are just bringing burden to our life.

Free your self from this cards and your life will be in right path.

Well, it's all psychological and hence people just get hooked to free money, money without effort. It's related to how we love to postpone our studies and works. Hey, want $1000 and pay back next month? Sure, I'll work hard next month and pay back, gimme the money now! It works similarly, except you have to pay interest which just grows everyday.

I do not think they will give a loan if there is a low salary They usually pay their loans considering their leverage. And the credit card does not belong to any low-quality person Banks consider the credit card of the person and then make a loan.

This main reason people have low salsry and they need maybe after some years to buy a new car, or just to change something in the house or to buy a house.

Yeah, own stupidity, those sums of money have a better use than spending. Invest somewhere. God thank i not have been token that 400 000 euros max limit Master Card. If i have so big limit i buy containers, bitcoin hashing production space, co-workers space on Helsinki. Satan poor, i try to get financial help even i know it's not free mostly.

^^^ Regarding legal lending institutions in the USA...

Everybody who takes out a loan, prepays the loan with the signed application for the loan. The deal is done when the bank gives the person the money he is asking for. Banks treat the application as money. They deposit it into an account just like it was a check. Then they withdraw the money and give it to the "borrower." The process is done automatically when a person uses his credit card, even when he uses it at an ATM.

Then what is the loan repayment there for? You know, the paying of principle and interest done every month. Basically one thing. When the person makes his payments in a timely manner, all he is doing is buying good credit so that he can "borrow" more loans in the future... and do whatever else good credit allows him to do.

The whole thing is a trick to make money off all the unsuspecting so-called borrowers out there. All bank loans are paid off before the loan money is given to the so-called borrower. Banks only operate when things are a sure deal for them.

Google "Tom Schauf bank freedom" and read as many sites as you can. Get Tom's books.

Credit card loans are categorized as unsecured loans but bank won't give credit card to everyone,Only people with the capability of repaying it with such high interest rates will get them and you got that point too.But most of the salaried people useing credit cards for purchasing useless shits from online and local stores then have hard time on repaying it.

As the topic creator, my mind and opinion on credit card loans have changed so much.

As an entrepreneur in need of capital for cash flow reasons (customers not paying on time, need to pay employees, etc.),
using a credit card loan has made my life so easy. I realized that some companies (small ones) could go out of business if
credit card loans did not exist.

My friend had a small business contract in December that he could only fulfil if he took out a loan of £30k (~ $40k). I have completely
changed my view and, if you don't think they are useful it means you have not yet had a problem that would be solved
by this quick loan.

Don't take loans if you risk not being able to repay, but take it if needed to move forward and make progress in life.

I am not from US and the loan amount from credit card is not worth to destroy your complete reputation.

In the US, the credit reporting agencies and banks will allow you to rebuild your credit. It might take several years, but then you can do it all over again. If you are shrewd about it, there are ways to get the agencies to bring back good credit faster... maybe only a year or two.

But you can't take any loans in your life forever if you have defaulted loan because most of the countries keep tracking the credit score of every individual on that country.So its a one time offer.

If you get CC loans, you can use the money to live happier. Just don't own the stuff you buy. Put it all into trust or corporation. Then, when you default on the loans, you don't have anything that the courts can take away from you.

Some people actually do this for a living. They take out loans, and more loans to pay off the previous loans, and they hide the property they buy in legal ways. Then they default, and keep the stuff they purchased. They do it as a business.

Actually banks making us to get them,loan which is something good and really bad for people.Credit card loan needs to be paid with highest interest rate if you don't paid them in the right time so they are making more profits than other schemes.

But what is actually a credit card,making people to spend their money on useless things then later they will pay the credit debt from important savings or salary.

The advantages of every item have the same difficulty with the credit cards You cannot use the card all the time. There are many places where card transactions are not done. Banks usually offer credit card loans to their benefit and from now on they get some interest. The banker does not offer a loan to pay off their credit considering their leverage But I think using credit cards is fine.

Oh yes i remember things like that back when we could use credit cards. Some people did what you describe, while others simply used them without any need ie. pay everything with credit card and clear the debt immediately the next day, to show a "pristine record".

Back then you could even pay in advance to bypass the maximum. There was no practical maximum if you overpaid the thing in advance, we used to do this as well, since the starting limits were so low and credit card was the only type of "electronic money" you could use online. Thankfully we now have bitcoin, and those idiotic bank limits matter no more. It also happens that credit cards stopped operating in this country, for various reasons.

ie. you want to buy something £1000, but your limit is £500, and currently have zero debt, you go into your bank and "pay" £1000 to your credit card), then you could spend £1000 with that card once; repeat as needed).

Last they "worked" my "gold" and "platinum" credit cards had a purchasing power equivalent to 1 satoshi (the magic of hyperinflation), and our gov forbade the prepaying thing so they became useless even before Trump ordered all American companies out from this country.

Of course its not "free money", you are paying extra fees to the bank and credit card companies than if you did not use them. And they love slaving you to pay their monthly interest if you can't afford to clear the debt immediately... Using the credit card for credit is dumb in my opinion, unless its an emergency.

I've been using my credit card to buy random stuff a lot for two reasons. 1 are to collect points. The 2nd reason is because I always seems to overdraft my debit by some unexpected unknown bill. Leaving me with a large fee.

Well, for me, people get credit cards because they want to buy a lot of things without knowing about its interest.

I tried it once because the credit card company offered me a very nice interest rate which is a lot lower than getting a personal loan.

Is there anything bad about it ?
at time people are in financial mess or need to pay some bills or house rents and there is nobody to help. Opportunity left unuse is a waste.

I stopped having credit cards since I start to earn and learn Cryptocurrency,because of accessibility from my wallets to withdraw anytime and faster
Yeah there’s perks and and rewards but I don’t also want hassles if time comes that I forgot to pay earlier or not having funds to cover the loan since we cannot assure of not experiencing difficulties in life sooner

Absolutely things that also my concern why I focused in Cryptocurrency using

Why do people get credit cards loans? this question becomes a mystery
for some people. The fact is a lot of evidence that credit card loans
make a negative effect on someone's life especially with
credit card loans many people waste or buy something not important.
Can damage the finances and many people who involved credit loans make them poor.
Most likely people use credit card loans are simple because of prestige. If it's true the reason is prestige
this is a very careless act.

My advice avoid credit card loans in your life, if you want
buy something in priority cash. If not enough to do the old-fashioned way
by saving. I make sure life will feel more enjoyable
without using a credit card loan. but this is just my personal opinion
, which might be wrong.

Credit card loans is a product that would make you so poor immediately.
It is very dump to get a credit card in my opinion. It is just a way to pay for things with money you don't have. It instantly get you in the debt cycle and you can never repay it.

This procedure allows banks to earn a lot of money

I think people get credit cards loan because they have a dont high salary. People easyer take a loan then change job with good salary. But if you want change something and dont take a loan click here now and change work.

This procedure allows banks to earn a lot of money

It's obvious, benefits. Because of some benefits people can get out of credit card loan they are enticed to get one. Well, the obvious benefit of it is you can get some things you wanted with just a card. You don't need money to bring. Remember, some of these cards could be used outside the country.

OP last paragraph is pretty interesting. Do people pay off their loans in that way?
I guess banks look at customer's credit worthiness or something before granting their loans request.
Taking out huge loans without a sure way of paying back is pretty scary thing to even think of.
I've never really collected a loan (bank loan I mean) in my life except from friends or family. I would have to be 100% sure I can pay back a loan on time before requesting for it

Lack of financial ignorance. Low impulse control. Young people being taken advantage of. It's actually a clever scam industry but legally they're allowed to do it. That's why bitcoin is best because it evens the playing field for everyone.

I had no such experience. I think it’s not a good idea. This is a debt loop that can last for the rest of your life. When you take out a loan, you always need to calculate your strengths, whether you can repay it. It's like with a casino before playing it is best to read reviews #1 casino website reviews by Play Casino™ and ratings so as not to be mistaken.

Wasn't it a thing back in the days? Or it wasn't just that widely spread I guess. I'd say that more and more people search for how to get sss id which leads you to fast cash loans (and other advantages actually). At least it's from my perspective.

Credit card loans isn't for everyone.

This is the very use of credit cards, you don't have to use cash when you are in need and you don't have to ask someone if you are in dire need. But if used wrongly, you're likely to suffer and be in debt if you not used wisely.

You are very right, although you can take into account in having one just in case an emergency happens, where you have to solve with money and if you do not have it, because the credit card is a great option, you may not ask for money, but if for a possible financing before an unexpected act.

Banks earn a lot with credit card and loan fees and interests.

As much as possible I'm avoiding to take loans and I promised myself not to take credit card. People take credit cards because of its convenience but I don't like the fees, I'm avoiding that kind of obligation.

When you got a credit card then you wills pend some money even when it is not needed which is the idea behind why credit cards were created,so one who are smart and wants to save money then they will ignore getting credit cards.

Yes, it is very fashionable, in fact in my country a lot is done, and the maximum is always asked, for the simple reason that when paying is very easy, because the economy is very uncontrolled and inflation ends in less than a week with the value that money has, that is why if a loan is made to the card today, today is worth enough money, but in 1 month when you touch the first installment to pay it is very easy to pay until The total of the amount that was requested, the strategy here is to borrow in the local currency, is the best business, because the ease of payment is incredible. In this case, the loans on the cards are very favorable.

No fancy reward schemes here, but i do buy products with my creditcard because of the free 180 days insurance i get when i buy a product with my creditcard.

Except that you and most other people are wrong about debt... at least debt to the banking system. As I showed, there is little to no debt. It's a creation of new money, not a loan/debt.

When a person and a bank create new money, by the person loaning his private money (the signed loan app) to the bank, and then the bank paying the loan back with public money (cash), why should the person give money to the bank over months and years? He had no debt to the bank.

The deception that the bank uses to make the person think that he had debt, eliminates anything that the person owes the bank, anyway. It's called fraud. Fraud destroys the value of the contract. It's as though there were no loan contract... besides the fact that the loaning was made the other way, where the bank borrowed from the person.

There is no debt. There is no national debt. There IS a Ponzi scheme in place, upheld by the banks and the government. How? All the money that was ever "repaid" on the bank loans was paid by mistake and misunderstanding. There was no loan that needed repayment. The banks are getting rich in the Ponzi.

Ok, thanks for the pdf and the discharge-debt where it explains it very well. I don't understand how debts are good for a country since it could lead
to an economic collapse. We do not take in consideration loaning trillions of dollars to students who we are expected to pay back.
I found out something interesting. It looks like putting a country in debts is better than having the country with 0 debts. I found this:

My vision about debts is still blurred. I am not able to envision the advantages of getting a small loan of $10k, and pay back $10.8k
Do you guys use it for shopping? Open businesses? Or do you hope to increase your loan such that you can take a huge amount out and
successfully multiply the value?
I don't understand how this enables me to benefit on the long term when all it happens is the bank taking more money from me. I borrow $10k and, in
most cases your net worth is $800 down because you have debts. I understand it helps the nation, by why would an individual get into debts?


Let's take a middle class example/scenario.
You earn $1.8k/month or $21.6k/year
You can get $8k from your credit card and you repay back 8% or, let's just assume it's your first year and pay 0% interest.
You've got $8k you repay $8k.

Why did you get $8k from your credit card? Do you use it to make yourself feel richer when your year income is low?
Do I have to remind you that, if you earn $29k this year (salary + loan), in the following 12 months you will earn only
$13k (salary - loan)?
Makes no sense, or I'm too stupid to see the benefits. Enlighten me by showing me the advantages

I guess I went too fast.

No, you can't keep the money without paying it back. But you did pay it back when you sent in the application. You were the one loaning the money to them through your application.

They don't give you money trusting that you will pay them back. They borrow your money from you, and pay it back with theirs. The money they borrow from you is the application form with your signature on it. They pay it back by sending you the credit card. You simply transfer the card to cash at the ATM, or product at the store.

Most people have it backwards, regarding who is loaning what to whom when.

If you don't want the card cancelled, you need to make payments. If you want to cancel the card, simply keep the money that they traded to you for the app.

You might wind up going to court, but you don't have to. And if you understand how they are trying to mess with you for no cause, you will win. Google "Tom Schauf, bank loans." Look here https://rodscontracts.com/docs/TomSchauf/001AmericasHopeHowToCancelBankLoans.pdf and here http://discharge-debt.com/id135.htm. There are many more.

The greatest understanding in all this is, bank and lending institution loans are not loans. Rather, they are methods for creating new money, that you and the bank do together.

Are you insinuating that you can keep the money without repaying it back?
People went to jail last time I checked

So far, I don't see any reason why I would get a credit card loan. For me, I'm asking myself, would a rich person ever use a credit card if they
were a poor person? If yes, how would that benefit them?
Getting a credit card loan to satisfy their own needs: not likely
Getting a credit card loan to invest in their business: not likely (why would they take so much risk when they can convince a VC or angel investor)
Getting a credit card loan to invest in stocks, bonds, shares, forex, etc.: not likely. this sounds like the most stupid option as well. If you believe you should use credit card loan to invest in speculations, you can already say bye to your money.

My conclusion is that credit cards have been created by bankers to target middle class. They try to convince you it's a good idea by having the chance to
get a loan anytime you want, when it clearly doesn't benefit you and creates a feeling of a little more 'wealthy man/woman'. 

When you have the credit card application in hand, before you sign it, does it have any value? No! You can't get a card until you sign it.

When you sign it, the application form becomes valuable so that you can get a card.

You have loaned the bank some paperwork of value. They have repaid the loan by sending the card that you can use. Get your value back by using the card. Then, if you don't want to use the card any longer, simply keep the money. After all, it is a loan repayment from the bank to you for the value that you gave them when you signed the app.

Intelligent use of the credit card 

Using credit cards do have an abundance of rewards in the form of benefits, perks, and discounts.

Why not?  Its free money if you know how to work it.

1. Open a rewards card
2. Reach minimum spend to gain rewards (usually 500-1500 dollar value)
3. Open zero percent balance transfer card to payoff the minimum spend on the rewards card
4. slowly pay off zero percent balance card in 12-24 month 0% period.
5. watch your credit score, maximum credit limit, and reward offers go through the roof.

I haven't paid for an airport lounge or hotel room since i started churning credit cards nor have i run out of points or paid a cent in interest.

I don't know if you call that 'out of normal' but I am not a person who gets credit cards loans, even if my allowance is high.
Why are so many people concerned with getting credit cards loans and increasing their maximum allowance?
The maximum I have got with a credit card in once was £500 which I paid the next month. Even before paying with
the credit card, I would have only paid if I had enough money on my main account to pay the balance.

Do you run 'credit card schemes' where you get a £5k loan with a bank, move to another bank and get other £6k to
pay your previous loan, move to another bank and get other £10k to pay your previous loan, etc. ?