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Thread: Credit Cards are Problematic for Us Disabled on Low Fixed Incomes...

  1. #1

    Default Credit Cards are Problematic for Us Disabled on Low Fixed Incomes...

    Credit Cards are problematic for us disabled adults on low fixed incomes.

    My latest bill came in, and I need more funds out of my meager 401K Retirement Account to pay it off to maintain a "zero balance".

    I guess I will have to give up the single credit card I have, which I have used since 1987.

    A rather harsh choice.


  2. #2

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    I am 64 disabled and never had a Credit Card.

    Why pay good money just to use a piece of plastic as money.

    The drawback is your Credit rating will be someplace below 500.

    95% of credit rating is based on Credit Card use and balance.

    I pay my bills on time and and always have, Because i have never had a Credit card my score in below 500.

  3. #3

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    i've never had one (well, been offered them as a matter of course, but always refused or not activated them). i've always preferred cash, but i have given in to the debit card (mainly because employers refuse to pay you, so that you have go chasing some third party for what they owe you; try doing that when you buy a Mars bar: "go and ask Joe Bloody Bloggs for the money cos i'm not giving it to you!".....mind you, that is the way that we tend to buy Mars bars, nowadays, isn't it? bonkers!).

    as for credit worthiness, i've previously notched mine up by buying smallish stuff (electronika, etc) on credit, and usually on the '6 months interest free' gig and paid them off within the 6 months, but i've not seen many of those deals lately.

    mostly, mine's been a hand-to-mouth existence, so borrowing of strangers is a big no-no.

  4. #4

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    Credit is as I said, problematic when one is on a low fixed income like me.
    I had to dig into my meager 401K Retirement Account to cover this latest credit card bill.
    Problem was, I had $300.00 extra in medical bills this month to pay off, which skewed my
    budget.

  5. #5

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    Credit cards only become an issue when you buy something you can'y even afford. I treat a credit card like it's my own money than just unlimited money. But the good thing about credit cards is you can use them for an emergency and you don't have to pay it all at once. You can make monthly payments on it but just pay above the minimum so you are not paying for only interest only.

    But fortunately my husband and I are able to pay them off the following month because we are not really poor. But there have been times where we had to make payments.

  6. #6

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    I'm actually finally starting to "make money" for the first time in my life...Even with that, I can't afford to pay off my credit card. It may take a year to clear $1000 and I just buy essentials. The only "extra" in my life is a $19.60/month tablet payment for my ipad mini. Still I wonder should I have ever bothered to get credit back? It honestly hurts on a down month because I literally can't afford what I need let alone to pay it back. I spent years in that cycle - if I didn't have enough money to pay the bills I had to use the credit card to buy groceries, knowing I had no way of paying that down later. It became a pay them all I had left, then use that same credit I just paid to survive, scenario.... I definitely understand being poor... But I've got a plan, and right now I can properly survive, and in 2 years I'll finally be able to "live".

  7. #7

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    If you cant afford to pay it back, why buy it in the first place is my question for those who can't afford it. If you can't pay it back, don't buy it with your credit card.

  8. #8

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    Quote Originally Posted by Calico View Post
    If you cant afford to pay it back, why buy it in the first place is my question for those who can't afford it. If you can't pay it back, don't buy it with your credit card.
    This is true, but at one point I was uninsured and NEEDED some health care, the doctor agreed to treat me, and he came in several hundred over quote, as I gave them all my cash, and was explaining that they'd have to work with my on payments, she pointed out that I had a credit card in my wallet. As soon as they saw a card, that was all they wanted.

  9. #9

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    Quote Originally Posted by Calico View Post
    If you cant afford to pay it back, why buy it in the first place is my question for those who can't afford it. If you can't pay it back, don't buy it with your credit card.
    Not to be sarcastic, but I guess you haven't experienced long-term income below the poverty line. It's not "do I want this", it's "can I do without satisfying these needs (or medical treatment in his case)"...

    Have you ever gotten paid only to find out that the amount for your 2-week cheque is less than your bi-weekly rent or utilities? That leaves a deficit, and then what do you eat? Your credit card feeds you. I lived on rice for over 2 weeks once, because I couldn't afford fruit, vegetables, or meat. Never again...

  10. #10

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    Quote Originally Posted by Plushie View Post
    Not to be sarcastic, but I guess you haven't experienced long-term income below the poverty line. It's not "do I want this", it's "can I do without satisfying these needs (or medical treatment in his case)"...

    Have you ever gotten paid only to find out that the amount for your 2-week cheque is less than your bi-weekly rent or utilities? That leaves a deficit, and then what do you eat? Your credit card feeds you. I lived on rice for over 2 weeks once, because I couldn't afford fruit, vegetables, or meat. Never again...
    Yes!
    My American Express bill is "paid" now, but I had to use it yesterday for medicine and more adult diapers.

    SHIT!!!!!
    I have to use it on Wednesday this week to get the Oil & Oil Filter changed on my handicapped-adapted car.
    Later in the week, I have to use it for gasoline to travel to 2 different "remote video shoot sites" for the Derry, NH Community Public-Access CATV Channel where I volunteer as an "Independent Producer", unpaid - of course.
    These 2 "remote" video shoots are "necessary".

    Anyway, also until I receive my next SSDI cheque, I also have to use my American Express charge card for "Food".
    Yes!
    I did use it to purchase "soap" today, because as a disabled adult with Autism and Cerebral Palsy, I do not want to be "DIRTY".

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