Tom Wilson Quotes

Credit card companies pay college students generously to stand outside dining halls, dorms, and academic buildings and encourage their fellow students to apply for credit cards.

The world does not need another credit card.

Typically, students slide into debt through the extension (by credit card companies) of unaffordable credit lines.

Banks introduced the installment plan. The disappearance of cash and the coming of the credit card changed the shape of life in the United States.

Remember that credit is money.

I very rarely use a credit card, but I do if I know I have big bills coming and I need to stagger payment.

I love to spend money.

You don't realize how much you use your credit card not even to buy things. It's a card you get so you can navigate society.

Those carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.

If you have debt, you have to worry about it. I would challenge each of you to try to be debt-free.

There is an attitude that we should be able to have everything. No, you shouldn't be able to have anything. I'd like a helicopter, but I can't afford a helicopter, so I don't buy one. People are buying stuff they can't afford on credit. I bought my Ford hybrid with cash.

Make this the year you tackle that credit card debt once and for all.

Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.

It wasn't until I stood in my truth and told everybody that I had $250,000 in credit card debt. At that point, everything turned around for me. I had to reveal the truth about what I didn't have, more than pretend about what I did. That was interesting.

I'm not broke. Like everybody else, I owe money.

If you decide you need a secured card, use it to charge small items every month, then pay the balance off in full. If your credit score improves, and the bank doesn't offer to upgrade your card within 12 to 18 months, give them a call. If they refuse, try another lender.

If you put a purchase on a charge card, you're paying it off forever. You have to know how to pay it off before you go deeply in debt.

As borrowers, we may feel guilty about running up debt, anxious about making payments, and resentful of the constraints that old obligations (and old credit records) impose on our current choices. We may find it too easy to buy things we may later regret.

It is imperative that we make consumers more aware of the long-term effects of their financial decisions, particularly in managing their credit card debt, so that they can avoid financial pitfalls that may lead to bankruptcy.

If the only way you can build an emergency fund is to pay the minimum due on your credit card, that is what you need to do.

Credit card agreements run as long as 30 pages, and it's 30 pages of largely incomprehensible text.

Some people are just stuck in their ways and have been brainwashed into believing that credit cards and debt are an unavoidable part of life.

Your FICO score is an "I love debt" score. You're going to pay a bazillion dollars in interest to keep your FICO score up in order to have lower homeowner's and car insurance rates.

Remember this: debt is a form of bondage. It is a financial termite.

Don't take risk, and don't get into debt.