Can credit cards help with debt?

2017-02-10 3:31 am
So I know just a little about credit cards and have no experience with them.

A family member of mine doesn't use credit cards and they ended up getting into $90,000 dollars in debt from hospital expenses.

Would a credit card have possibly prevented something like this? For example, if you never use the card for something you can't actually afford, and you always pay all the bills in full, would you be better off in that situation if you had a credit card?

Do you have to pay full interest back by the end of the month, or does the interest not go up that high?

回答 (8)

2017-02-10 4:42 am
✔ 最佳答案
A family member of mine doesn't use credit cards and they ended up getting into $90,000 dollars in debt from hospital expenses.
Health insurance helps with hospital expenses. And not credit cards. Maybe W Buffet or Bill Gates would have a 90k limit on their credit cards. Almost everyone else's limit would be (maybe) one-tenth of that.
2017-02-10 9:52 pm
Having INSURANCE would have helped. Having a credit card might have helped with co-pays, but would cost them much more in interest charges than the hospital would charge to finance the services they provided.

Insurance would have paid much of the expense. Putting the insurance premium payments into the bank each month might have also allowed them to save toward an unforeseen event like this, but often paying the insurance company is usually a better gamble than trying to save it yourself.
2017-02-10 8:33 am
Credit cards can help with some debts, in that it enables you to pay off the debt in monthly installments. Yes, you will owe interest, but as long as you make at least the minimum monthly payment you are legally okay.

For the hospital bill, a credit card would likely not have helped, in particular due to the large size of the amount.
2017-02-10 6:13 am
No, ig they put it on a caard, it would still be debt, they'd just owe it to someone else.
2017-02-10 4:35 am
No, you'll just get into more debt.
2017-02-13 11:27 am
credit cards can help som debts if you know how to handle it wisly
2017-02-13 12:27 am
the credit card would have done nothing to prevent incurring $90K in medical expenses, that would have happened if they had 10 cards
of course they could use all of them to pay the debt but then they still owe the debt to the credit card companies, they merely change the creditor
2017-02-12 5:11 am
A credit card would not have helped your family member from getting into the
$90,000. debt Hospital expenses must be paid, not charged. Pay any credit
card debt off in full each month. Credit card interest is the highest interest that
exists.
2017-02-11 12:27 am
No
2017-02-10 4:00 am
it would have helped them, unless the interest on the credit card is way higher than what the hospital would charge. you can pay it in full at the end of the month, which would reduce your interest charges as they accumulate month to month.


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