Americans are expected to accumulate $54 billion in credit card debt in 2011, according to a recent CardHub study. So imagine a card that you can program to control your spending -- one that actually shuts off if you blow past your monthly budget at your favorite shoe store, or sends you an alert when you eat out more than you planned. Michael Fiore, head of MasterCard inControl Group, explains.

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Meaat Smokey the Credit Card Fire Starter. Only you ...can prevent overspending,

September 30 2011 at 9:05 PM Report abuse rate up rate down Reply

Like that plastic?? Use a debit card! Make sure that you don't "sign" for the account that lets you overdraft! If there is no money in the account,the card is rejected! That way, if your too dumb to check your balances on line, you wont get in trouble! Of coarse,now they want to charge for a debit card! Screw them, go were your wanted, not where they need you as a money machine!! Check out the nearest Credit Union, their great!!!

September 30 2011 at 1:07 PM Report abuse rate up rate down Reply

It's pitiful that so many idiots blame banks for their inability to control their spending. You need to have the proper attitude about credit: If you dont pay the full balance on your credit card every month, you just took out a high interest loan.

September 30 2011 at 11:54 AM Report abuse +1 rate up rate down Reply

Where do they get this info that Americans will create more credit card debt. Most of the people I know and deal with have paid off or are paying off and getting rid of most of their cards. They are keeping one maybe two for an emergency. They have moved back to careful cash spending. Where credit cards are needed they use their back debit card as a credit card.

September 30 2011 at 10:01 AM Report abuse rate up rate down Reply

Funny thing - looking to others to manage us rather than taking responsibility for our actions.

Reasons to pay only cash:
If the cash is not at hand the spending won't happen.
Fewer records of cash transactions than credit transactions.
One cannot be profiled based on credit use.
Downside: If cash is lost or stolen, it is gone. Returns may be difficult. Warranty service and proof may be difficult. Record-keeping is more difficult. On-line shopping or remote payments is more complex. Travel is riskier. Renting a car, getting a hotel reservation, an airline ticket and such is much more complex.

Reasons to pay with credit:
Record-keeping is easy.
Many cards offer rebates - we get 5% on all vehicle-related charges (fuel, service, parts) and food, 2% on home-improvement, 1% on everything else. It adds up.
Warranties are often extended.
Lost or stolen cards are at worst an inconvenience.
The Float can be useful at times.
There are no associated costs if the balance is paid each and every month.

It is 100% a matter of will power and common sense.

September 30 2011 at 9:43 AM Report abuse rate up rate down Reply


September 29 2011 at 3:58 PM Report abuse rate up rate down Reply

what gets me angry is why when someone (like college students) who make less than 5 grand a year can get 50 grand of credit.

September 29 2011 at 3:22 PM Report abuse rate up rate down Reply
larry & gail

why not just cut up all the cards??????????????????

September 29 2011 at 3:03 PM Report abuse rate up rate down Reply

Person can't keep up with regular bills because from long time ago wages is steady and not follow raising prices for everything, so many don't have choice and after regular weekly check nothing is left even for some regulat bills or unexpected bills....and this is exactly purpose why C.C. goes in the system long time ago because both sides from business won and regular peoples work can keep wages steady and make more profit from selling manufactured items without paying much own workers and C.C. jump in just to cover this big hole and put in the personal debt more and more regular peoples...long time ago we don't have this stuff in the system and everything works just fine not much personal debt and people have nice living wages just to follow raising prices...but this day's everything changes....C.C. must go out of the system and everything after that will be just fine...AMEN.....

September 29 2011 at 12:51 PM Report abuse rate up rate down Reply

How about being responsible and pay with cash.If you can't pay cash for it you don't need it.

September 29 2011 at 11:31 AM Report abuse +4 rate up rate down Reply