Kitty4670 wrote:
I'm talking about buying stuff with a credit card.
Then you're not asking the right question to find out what you want to know.
Taxes are what governments collect in order to pay for public services such as schools, hospitals, roads, garbage collection, police, fire fighters, border guards, the government politicians themselves etc etc etc. Taxes have NOTHING to do with credit card companies. Zero.
If you're asking if you still have to make PAYMENTS on your credit card debt even if you don't have a source of income, then the answer is Yes. You can't not pay for things just because you don't have a regular source of income coming in. If you buy things on credit you still have to pay for them.
If you pay your bill off in full every month then you don't have to pay any INTEREST on your debt. But if you only pay the minimum amount, or anything less than the full amount, then you start paying interest - the time value of money; the cost of borrowing money - on that debt. The rates vary. Sometimes it's quite inexpensive, other times it's horrendously expensive.
I'm pretty sure you meant to ask if you still have to make a payment and the answer is Yes. Lenders don't care whether you've lost your job and have no money coming in. You spent their money that they leant to you, and you're obligated to repay them as per the terms of your contract with them. Either you pay it off in full OR you pay at LEAST the minimum required payment every month. Carrying a balance (debt, not paid off in full) will then cost you whatever interest rate they charge in addition to the amount you borrowed from them. Carrying a balance for multiple months then means you're paying interest on the interest that accrued the previous period, too, so the cost of borrowing money grows as time passes. It's relatively simple financial math to figure out these numbers.
Ideally, if you buy things on credit, you pay them off right away and never cost yourself interest. Most people have consumer debt that they pay interest on, though. It's not an ideal financial situation. Paying for things in cash is best. Saving up for things is better than using credit. But, sometimes life happens and you have to pay a little interest on things - just be aware it's costing you money.
_________________
No
![Heart :heart:](./images/smilies/icon_heart.gif)
for supporting trump. Because doing so is deplorable.