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11-09-2010, 07:55 PM #21
OMG...I'm one of them.
11-09-2010, 07:57 PM #22
The Following User Says Thank You to Amadomon For This Useful Post:
11-09-2010, 08:04 PM #23
11-09-2010, 09:51 PM #24
11-10-2010, 12:23 AM #25
i use credit cards for most things, then pay them off the same month. no crazy debt here (besides car note, and mortgage)
11-10-2010, 06:50 AM #26
credit is a must. Credit cards are nothing to be afraid of. You just got to know how to manage money. I have a 5k limit on a card sometimes I would charge 2-3k in things but I plan ahead and make I pay it off in no more than 4 months than repeat. Out of that 4 months interest is no more than $100. Getting car loans improve my score too. Start off with cheap used car than after it's paid off sell it and get a new loan. I repeated that 4 times and finally got a new car so I can build my credit.
Last edited by anekin007; 11-10-2010 at 06:53 AM.
11-10-2010, 07:59 AM #27
And to anekin007, the interest is no more than 100 bucks? How is that a benefit. I could have almost bought 2 brand new video games, or a bunch of CDs or paid one of my student loan bills or bought groceries for a week or two or whatever with that. Why in hell would I want to pay extra for no reason at all. Every time I even think of spreading out a payment over even more than one month I stop myself because I realize that's stupid. I have the money right now. Why would I willingly pay more for whatever it is I'm buying? It has nothing to do with fear. It has to do with practicality and responsibility. Credit cards in my life are completely impractical and irresponsible. Why any loan agency would think differently is beyond me.
11-10-2010, 08:28 AM #28
11-10-2010, 09:26 AM #29
reward cards have benefits. Using a credit for a purchase actually gives you a lot more recourse against a merchant than cash. No one is forcing you to do anything. But unless you plan on paying cash for a house,car or other things in your life. You need to build a credit history. Most lenders look for credit card history because they are the easiest to get and screw up. So showing responsible usage of credit cards shows them how likely you are to repay any other type of loan you might possibly want. Your student loans are not much different than revolving a balance on a credit card .
11-10-2010, 09:52 AM #30
And student loans are a bit different in that there was no way I could pay that stuff outright to begin with, and that's what I'd use a credit card for. It's for stuff that you don't have the cash already. Then the extra charges added on for having to pay it over time make sense to me. It doesn't make sense to me to build up a credit debt and keep paying it off month after month and basically be paying more for no other reason than just because. If I have the money in my account right now I want to pay for it right now.
11-10-2010, 10:22 AM #31
Credit is no different than anything in life. You take a driving test to prove you can drive. You go to school to learn and at the end of it get a diploma to prove you did in fact go to school for something.
Banks want proof that you have the ability to repay a loan and the only way to really prove that is to have done it. You don't have to USE the credit card on a continual basis. Once every few months for a sandwich or tank of gas. Credit cards are only bad when used wrong.
They have the money and if you ever need it. (house, car and so on) You pay more if you haven't played the game of credit with them. Anyways enough of beating the dead horse!
To each his own
11-10-2010, 11:49 AM #32
New study just released: more iPhone users prefer the iPhone vs. Android and blackberry users...
11-10-2010, 11:59 AM #33
"iPhone owners carry higher balances" the chart shows "expense", I might have a lot more expense on my credit card ( pay it off every month) but that doesn't imply I "carry" a higher balance month to month. I can't believe these people get paid for producing this kind analysis. I wish i could get a gig like that.I don't drink kool-Aid, I don't join cults.
This is why I break out in cold sweat going to Apple retail store.
11-10-2010, 12:01 PM #34
11-10-2010, 12:15 PM #35
Smug...This message was K1NG approved.
11-10-2010, 01:34 PM #36
11-10-2010, 01:35 PM #37
I have a balance of around ten grand. But 9500 is from my crothc rocket that I purchased on a yamaha card with 1.9% interest so I don't count that one. Credit score is just around 730 last time I checked
11-10-2010, 01:36 PM #38
11-10-2010, 02:21 PM #39
Obviously they're trying to pay off overpriced $1500 laptops.
11-10-2010, 05:37 PM #40
You really think you're getting those "rewards" for free??? You're paying for it, or someone else is.
No thanks, I'll stick with the check-card which is accepted everywhere you need a credit-card as well. I'm building my credit the safer way, small loans for things like computers and stuff. Short term, positive history, and a very low debt/income ratio.
Call me conservative, old fashioned, mistrusting... I chose the username for a reason... I think people abuse credit and rely on it far too much, it's like they learn finances from politicians.
Honestly, if you need a loan to make payroll, you have bigger problems than poor sales.It's not where you've been, or where you're going..
It's where you are.
Reflect on the past, plan for the future, mod for today.