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Posted: 9/9/2013 5:36:17 AM EDT
[#1]
Quoted: Never had one as I always pay for bills and such with cash locally. Have sent money orders for some items that I wanted. Anyway, because of this, I have no credit. I have been told by many that I need to use a credit card to buy stuff like gas, small Amazon purchases, etc, then pay it off every month. Also, my understanding is that you are not charged interset, unless you do not pay it off. Is that right? pay your statement balance off every month and NEVER get cash advances. you will pay zero interest. Go to your bank and app for a card, or get one that requires a deposit if you can't qualify for a credit card. After 6mos to year with the secured card, they'll upgrade you to a credit card. I did that a year before I bought my house and by the time I closed I had a decent credit rating. |
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Posted: 9/9/2013 5:39:48 AM EDT
[#2]
Quote HistoryQuoted:
You can actually wait until you get your statement in the mail, but whatever works. You have a 28 or so day grace period, depending on the card. Just buy stuff. Statement comes. Pay bill. It's that easy. Quote HistoryQuoted:
Quoted:
Get a capital one card if you can, if not get a secured capital one card. Pay it off the same day you charge it and there will be no interest. Do not use 30 percent of the credit limit. Example. Don't go over 300 on a 1000 dollar card. Edit: I'm about 3 months in to what you are now doing.... You can actually wait until you get your statement in the mail, but whatever works. You have a 28 or so day grace period, depending on the card. Just buy stuff. Statement comes. Pay bill. It's that easy. About this. Use it for stuff you already have money for, and you get the bonus of an added layer of protection. Just pay the statement when it shows up. I have one through my credit union, and I can check/pay the bill online. Using a credit card from a decent CU/bank will give you someone to help you out if there is some sort of issue with no-show packages, damaged items, that sort of thing. |
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Posted: 9/9/2013 5:40:09 AM EDT
[#3]
Quote HistoryQuoted: Everyone agrees that if a person CANNOT control their spending, CC's are BAD. Quote HistoryQuoted: Quoted: Quoted: They were invented by the devil to enslave you. Now you're going to roll your eyes and think "what a look." But. Get back to me in 20 yrs and then tell me I'm wrong.  I've had my fill and have cut them up and will be working on getting rid of the payments starting next month. In other words, I just finished a loan this month.  ^^^^^^^^^This is the right answer. Credit Cards are the business cards of the Devil. Ask someone like Dave Ramsey what he thinks of credit cards and "credit" in general. You don't need either. Everyone agrees that if a person CANNOT control their spending, CC's are BAD. You know, just like some people misusing firearms makes guns bad, and some people being alcoholics makes booze bad, and some people being fat makes ice cream bad.
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Posted: 9/9/2013 5:43:56 AM EDT
[#4]
Credit is awesome, I pay mine off every month and have been doing that for 7 or 8 years.
The advantage of perfect credit is that when I moved into my Apartment, they ran a credit check, my credit was good enough that I didn't have to pay a deposit |
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Posted: 9/9/2013 5:54:28 AM EDT
[#5]
I make $200-500 payments every 2 weeks on each of my 3 credit cards. 100% of my consumable spending is done with credit cards, nobody ever gets my debit card.
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Posted: 9/9/2013 6:58:02 AM EDT
[#6]
Quote HistoryQuoted:
No, no, no... this GD. If some people can't control their spending, that makes credit cards bad. Period. You know, just like some people misusing firearms makes guns bad, and some people being alcoholics makes booze bad, and some people being fat makes ice cream bad. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
They were invented by the devil to enslave you. Now you're going to roll your eyes and think "what a look." But. Get back to me in 20 yrs and then tell me I'm wrong.
I've had my fill and have cut them up and will be working on getting rid of the payments starting next month. In other words, I just finished a loan this month. ^^^^^^^^^This is the right answer. Credit Cards are the business cards of the Devil. Ask someone like Dave Ramsey what he thinks of credit cards and "credit" in general. You don't need either. Everyone agrees that if a person CANNOT control their spending, CC's are BAD. You know, just like some people misusing firearms makes guns bad, and some people being alcoholics makes booze bad, and some people being fat makes ice cream bad. Was going to post this. Go ahead and get a CC OP. Just learn when to use it, when not to use it, and don't buy anything you wouldn't have bought with cash. A good way to start is using it for all of your fuel purchases. It's safe to say that you aren't going to start burning more fuel than you did before the card, so it should keep your spending in check. Pay it off every month and you won't pay a dime in interest. |
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Posted: 9/9/2013 6:58:21 AM EDT
[#7]
Quoted:
Never had one as I always pay for bills and such with cash locally. Have sent money orders for some items that I wanted. Anyway, because of this, I have no credit. I have been told by many that I need to use a credit card to buy stuff like gas, small Amazon purchases, etc, then pay it off every month. Also, my understanding is that you are not charged interset, unless you do not pay it off. Is that right? I recommend that you not bother. |
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Posted: 9/9/2013 7:14:23 AM EDT
[#8]
I pay for virtually every single thing I buy with my credit card, which is from the same bank I have my checking account with
then I go online every few weeks and transfer money from my checking account to my credit card and pay off the entire balance this accumulates bonus points, which I cash in for about $250 every 4 months or so I have not paid a dime in credit card interest in probably 15 years the card is just a huge convenience and a source of an excellent credit rating and bonus points is there any down side? none that I can see of course I don't labor under the delusion that I'm 'off the grid" like a lot of guys oh no! the government knows I bought a hamburger! if you pay taxes, you are on the grid |
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Posted: 9/9/2013 7:18:52 AM EDT
[#9]
If the Op is worried about carrying a balance and paying interest (because he cannot control himself ?)
he can tell the bank to lower the spending limit on the card to $500 nobody is going to fuck themselves up with a $500 credit card |
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Posted: 9/9/2013 7:29:58 AM EDT
[#10]
Quote HistoryQuoted:
What do you plan on getting with said "credit"? Can you just save money up and buy what you want? Do you not have a debit card to purchase items online? Credit cards and "credit" is a quick way to get yourself into debt. Entire system is retarded. Most people cannot "pay for everything" with a credit card, and not carry a balance every month. I don't care how many in GD claim to do it. Most people buy everything with a credit card, pay the minimum, and then spend thier cash on more shit. Spoken like a former Creditaholic. I've had a credit card since I was 16 and have always paid in full each month. Debit cards are great right up until someone steals your number and your money gets tied up until the bank gets around to resolving it. Credit cards are a great way to put a barrier between the world and your money. I've had my credit card numbers stolen three times and each time it's been the bank's problem, not mine. If someone steals your debit card number and drains your bank account, you're money is gone until the bank decides to make good on it for you. |
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Posted: 9/9/2013 7:41:05 AM EDT
[#11]
Pay your balance every month and you'll be ok.
One minor caveat: some cards have an annual fee. Weigh this against the goodies you get by using the card like frequent flier miles or whatever. |
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Posted: 9/9/2013 7:53:29 AM EDT
[#12]
Contrary to popular believe you do not need a credit score to buy a home. You have to be 6 months or a year out from having any debt or credit account of any sort and, obviously, have cash down. Almost anyone will sell you a car with 25% down, credit or not. I suggest, if you are able to at this point, staying far away from the credit complex many people have.
I got out from under my last car payment two years ago, I've bought three cars since all of which I paid for in cash. My 12k loan on my old 03 civic ended up costing me, if my memory serves me well, another 6k. That 6k was more than enough to service that car for the entirety of the 6 year loan and the way payments are processed, you are paying your interest long before you are paying down your principle. It's up to you but you should certainly proceed with caution. I felt like I had to get away from that system, all I had to do was be responsible with the money I already had, not be responsible for money I have not earned yet. |
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Posted: 9/9/2013 8:03:38 AM EDT
[#13]
Quoted:
Never had one as I always pay for bills and such with cash locally. Have sent money orders for some items that I wanted. Anyway, because of this, I have no credit. I have been told by many that I need to use a credit card to buy stuff like gas, small Amazon purchases, etc, then pay it off every month. Also, my understanding is that you are not charged interset, unless you do not pay it off. Is that right? You have been told wrong. Having a CC that you pay off every month has very little effect on your credit score. The bulk of your credit score comes from having larger loans that you pay on for an extended period of time. So in other words you have to have debt to get credit. Its a crappy system (for the vast majority of people) set up to get your money. If banks are good at anything, it is the numbers. It doesn't matter how good you are with them, they're getting your money. 
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Posted: 9/9/2013 8:04:22 AM EDT
[#14]
get a debit card. Avoid the credit card evil like the plague.
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Posted: 9/9/2013 8:06:03 AM EDT
[#15]
Quote HistoryQuoted:
I use mine for everything and pay it off every month, don't carry a balance. And as a result get free stuff, not bad. I just saved 300 dollars on our Feb get-a-way by starting up am AM EX card and spending 500 dollars in the first 3 months. Credit cards with rewards programs rock if you dont carry a balance. |
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Posted: 9/9/2013 8:07:09 AM EDT
[#16]
Quote HistoryQuoted:
get a debit card. Avoid the credit card evil like the plague. Yes, using the banks money for a month to buy things you already have the cash for is an "evil" thing 
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Posted: 9/9/2013 8:07:52 AM EDT
[#17]
Quote HistoryQuoted:
If you want to get a credit card to buy something you can't pay cash for, you're doing it wrong. If you want to get a credit card to have another means to spend money you have, you're doing it right. This x 100 |
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Posted: 9/9/2013 8:09:18 AM EDT
[#18]
Don't get any. Just pay for everything using cash or debit. The borrower is slave to the lender.
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Posted: 9/9/2013 8:10:12 AM EDT
[#19]
Quote HistoryQuoted: No, no, no... this GD. If some people can't control their spending, that makes credit cards bad. Period. Quote HistoryQuoted: Quoted: Quoted: Quoted: They were invented by the devil to enslave you. Now you're going to roll your eyes and think "what a look." But. Get back to me in 20 yrs and then tell me I'm wrong. I've had my fill and have cut them up and will be working on getting rid of the payments starting next month. In other words, I just finished a loan this month. ^^^^^^^^^This is the right answer. Credit Cards are the business cards of the Devil. Ask someone like Dave Ramsey what he thinks of credit cards and "credit" in general. You don't need either. Everyone agrees that if a person CANNOT control their spending, CC's are BAD. You know, just like some people misusing firearms makes guns bad, and some people being alcoholics makes booze bad, and some people being fat makes ice cream bad. And the other side of that is "I can control my spending , so everyone can control their spending", "I'm not an alcoholic, therefore nobody can be". If this were true, Dave Ramsey and AA wouldn't be needed. |
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Posted: 9/9/2013 8:13:02 AM EDT
[#20]
Quote HistoryQuoted:
Same here, find one with a reward that you like Quote HistoryQuoted:
Quoted:
I use mine for everything and pay it off every month, don't carry a balance. Same here, find one with a reward that you like This. I have been using mine for purchases for most my purchases for 2 years. Next month I will get a Washer/dryer with the rewards money I have saved on it. |
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Posted: 9/9/2013 8:14:26 AM EDT
[#21]
Quote HistoryQuoted:
Credit is awesome, I pay mine off every month and have been doing that for 7 or 8 years. The advantage of perfect credit is that when I moved into my Apartment, they ran a credit check, my credit was good enough that I didn't have to pay a deposit If you have good references from former landlords you may also avoid the security deposit. No first time renter is going to have their security deposit waived, credit or not. We are in the process of buying a house with cash up front. No this is not a 200k home or anything, right now that is not what we need either. It's a nice little place in the country nestled between some farms and some woods. I just want to say this; Can you imagine how good it feels to know we are just around the corner from not having to pay rent or a mortgage every month, to not have to worry about a car payment? Can you imagine how much less stressful life will be, I can make enough money junking with my buddies to pay my bills and taxes for the year if I were to lose my job? I know this is technically a different story than opening a CC but it is fundamentally the same. Someone mentioned Dave Ramsey, I started listening to him since my local talk radio picked him up a few weeks ago. I believe it was Friday when he was talking about financial freedom when he made the comparison between the spiritual and otherwise, citing Proverbs 22:7. It's peace of mind, for me, knowing that I can tell my boss to pound sand and not be in a bad way over it. It's also nice to know that if I end up in a bad car accident, I drive for a living and have had several near misses at no fault of my own, that we can certainly get by without losing everything or sacrificing everything to keep what we do have. As my grandfather used to say, "If you think nobody cares about you, stop paying your bills". There are other ways and I would be more than happy to share more of my experience through private channels, if you are interested. |
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Posted: 9/9/2013 8:19:14 AM EDT
[#22]
I pay for everything I purchase with a credit card and pay it off every month. Been doing this since 1985 and have never paid a dime of interest on this card.
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Posted: 9/9/2013 8:20:36 AM EDT
[#23]
Quote HistoryQuoted:
Don't buy stuff you can't pay for. That's all you have to know. I use a cash back card and pay the bill every month when it comes. I get more money from the CC company per year than I do from interest on money sitting in the bank. This. Never carry a balance. Get the cash rewards. And if you're getting a rewards card, look for one that has a sign up bonus as they'll sometimes give you up to $500 worth of bonus points. |
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Posted: 9/9/2013 8:22:10 AM EDT
[#24]
Quote HistoryQuoted:
I use mine for everything and pay it off every month, don't carry a balance. +1. I love getting free money. |
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Posted: 9/9/2013 8:27:08 AM EDT
[#25]
Quote HistoryQuoted:
+1. I love getting free money. Quote HistoryQuoted:
Quoted:
I use mine for everything and pay it off every month, don't carry a balance. +1. I love getting free money. How is borrowing money and paying it back free money? The interest you earn? Not too much. Also, For all those people saying get the CC for the 'rewards', guess what.... my credit union debit card is a rewards card! So I pay for everything when purchased and I earn rewards. Sounds like a win-win to me. |
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Posted: 9/9/2013 8:30:04 AM EDT
[#26]
Set up your credit card bill to be automatically paid from your checking account monthly.
Ensures it is paid off (avoiding interest), reinforces the mentality of "don't spend what you don't have", and with a rewards card, you earn what is essentially free money. Not to mention the fraud protection, etc. that comes along with a credit card. Unless you're extremely irresponsible with your money, I don't know of any good reason to not have a credit card. |
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Posted: 9/9/2013 8:30:42 AM EDT
[#27]
Credit Cards are a great tool...credit in general is pretty much a necessity if you ever want to anything like buy a house, finance a car, or start your own business.
Rebuilding my credit when I was in my mid 20's was the best thing I ever did for myself; it allowed me to start a business and it allowed to to transfer all my debt onto 0% offers when I closed my business  What people get screwed up on is financial immaturity  If you look at your credit cards as a way to buy crap you want, you will fuck yourself up. The best thing you can do is to decide what your goals are in life and read up on credit, and how it can help you. Once you have some clearly defined goals you are working towards (like buying a house or starting a business), you won't find yourself in the position of debating on purchases you can't afford  Read here: http://creditboards.com/forums/ ETA: Chase bought me this last year  Speed |
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Posted: 9/9/2013 8:39:27 AM EDT
[#28]
Quote HistoryQuoted:
Don't get any. Just pay for everything using cash or debit. The borrower is slave to the lender. Not sound advice if you dont carry a balance. |
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Posted: 9/9/2013 8:40:00 AM EDT
[#29]
When rebuilding my credit, I got a few cards. I currently have three cards actively in use. No balance on any of them.
1 for gas only, (good to know what gas actually costs anyway without other little purchases mixed in), 1 has a monthly subscription on it for $20/month,1 has monthly gym membership on it. All three are set to pay automatically in full every month, so I never forget. Just be sure to never be late on credit card payments - they don't typically let that slide, and it WILL be on your credit report. It bumped my credit score almost immediately to have regular monthly payments, and constantly paying off the cards every month. Also keep in mind that a big factor in credit is determined by amount you owe vs. credit limit available to you. So if you have no credit cards, they cannot determine your worthiness.... if you have a couple open accounts with say $5,000 limit, and you keep your debt below 5% of your limit ($250), it shows up as a big plus in your credit score. |
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Posted: 9/9/2013 8:43:59 AM EDT
[#30]
Quote HistoryQuoted:
Credit Cards are a great tool...credit in general is pretty much a necessity if you ever want to anything like buy a house, finance a car, or start your own business. Rebuilding my credit when I was in my mid 20's was the best thing I ever did for myself; it allowed me to start a business and it allowed to to transfer all my debt onto 0% offers when I closed my business
What people get screwed up on is financial immaturity
If you look at your credit cards as a way to buy crap you want, you will fuck yourself up. The best thing you can do is to decide what your goals are in life and read up on credit, and how it can help you. Once you have some clearly defined goals you are working towards (like buying a house or starting a business), you won't find yourself in the position of debating on purchases you can't afford
Read here: http://creditboards.com/forums/ ETA: Chase bought me this last year
http://i42.tinypic.com/301cxoy.jpg Speed And I though a few trips to third world beach locations and flat screen HDTVS were nice. Well played! |
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Posted: 9/9/2013 9:01:10 AM EDT
[#31]
Go Bananas rack up tons of debt, fake own death, steal identities ans start over again.
That is what I would not do I mean. |
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Posted: 9/9/2013 9:16:18 AM EDT
[#32]
Quote HistoryQuoted: Same here, find one with a reward that you like Quote HistoryQuoted: Quoted: I use mine for everything and pay it off every month, don't carry a balance. Same here, find one with a reward that you like This. It's not hard if you know how to manage your money. Do it right and you get free stuff. Some folks like cash back. Some folks like plane tickets. I use a Marriott rewards card for everything. Between myself and my direct reports I charge 150+ nights a year. I get points for the stays. I get points for paying with the card. I get points for $3-5k of work expenses each month. I submit my expenses and get reimbursed from the company. I pay my balance in full each month. I take my family on vacation and we stay at nice hotels for free. If I had to pay cash for the hotel rooms I've used on vacation this year I'd have spent almost $2k of my own money. -J
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Posted: 9/9/2013 9:18:38 AM EDT
[#33]
Quoted:
Also, my understanding is that you are not charged interset, unless you do not pay it off. Is that right? If you get a cash advance, you are charged interest from the time you get the money even if you pay off the complete balance. Wal-Mart always has the option for getting money at checkout, so you always want to answer NO to that. I'm not sure of the interest rate of the cash advance vs carrying over a balance. They might be the same rate. |
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Posted: 9/9/2013 9:26:01 AM EDT
[#34]
Mastercard or Visa. Treat it like a checking account and pay the balance in full every month.
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Posted: 9/9/2013 9:40:54 AM EDT
[#35]
Quote HistoryQuoted:
The only thing more mystical than credit cards to arfcom is a vagina. ... That's almost sigline worthy. |
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Posted: 9/9/2013 9:42:29 AM EDT
[#36]
Quote HistoryQuoted:
Not sound advice if you dont carry a balance. Quote HistoryQuoted:
Quoted:
Don't get any. Just pay for everything using cash or debit. The borrower is slave to the lender. Not sound advice if you dont carry a balance. It is exactly like dealign with people that equate carrying a gun with randomly shooting people. There is no reasoning with some people. |
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Posted: 9/9/2013 9:49:00 AM EDT
[#37]
Quote HistoryQuoted:
A line of credit is a tool. Like a gun, it is a controversial tool. Like a gun, it is a tool that many people have a neurotic obsessive need to decry, often because they personally lack the discipline to manage that tool, and choose to project those insecurites and inadequacies onto others. Credit cards offer free money for a give period of time. if you choose to keep that money beyond that period of time, they offer specified, transparent interest rates. It is essentially an offer of a permanently available, guaranteed loan, with a grace period where there are no costs to you whatsoever. Capitalist society is based on credit. Credit is the most essential tool of participating in the modern economy. If you wish to demonstrate your ability to responsibly use such a tool, you have to use such a tool. A credit card is an easy way to do that, but not the only way. Nailed it |
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Posted: 9/9/2013 9:58:34 AM EDT
[#38]
I use two credit cards.
Capital Once Venture card no annual fees with points accrual through purchases Citibank cash rewards card no annual fees that gives back something like 2.5% cash for every purchase They are both used to pay off monthly utilities, online bills, and internet purchases. I do carry a small balance < $500 for credit scoring purposes but I use the cards instead of my debit card. I made about $1000 off the citibank card last year. |
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Posted: 9/9/2013 10:02:06 AM EDT
[#39]
i have had a credit cards since I was 18, so about 30 years. I have paid interest on it 2 times, and that was in the beginning. Credit cards re what you make of it. you will be hard pressed to rent a car or get a hotel room without one.
Control is the key. don't think i will pay for it at the end of the month every time you buy something. when the end of the month comes, many do not have the funds to pay it off, and the spiral begins. Don't by shit for the sake of buying shit. Once you get a card, use it wisely, and you will have no issues. GD is quite a fiscally conservative bunch. They will help to steer you right |
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Posted: 9/9/2013 11:11:30 AM EDT
[#40]
Quote HistoryQuoted:
That's almost sigline worthy. Quote HistoryQuoted:
Quoted:
The only thing more mystical than credit cards to arfcom is a vagina. ... That's almost sigline worthy. After two pages of replies, I was getting worried no one saw my gem of a reply. You win the internet for today! |
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Posted: 9/9/2013 11:18:22 AM EDT
[#41]
Quote HistoryQuoted:
A debit card will do the same thing. Quote HistoryQuoted:
Quoted:
Quoted:
What do you plan on getting with said "credit"? Can you just save money up and buy what you want? Do you not have a debit card to purchase items online? Credit cards and "credit" is a quick way to get yourself into debt. Entire system is retarded. Most people cannot "pay for everything" with a credit card, and not carry a balance every month. I don't care how many in GD claim to do it. Most people buy everything with a credit card, pay the minimum, and then spend thier cash on more shit. Oh, I have money to buy anything reasonable. I was thinking of the card to buy stuff like CD's, movies, gun parts, etc online because it just seems like the local selection of everthing is shit these days. For example, I have always bought, or had my music CD's ordered at the Hastings in town. These days, 3/4's of the shit doen't come in. A debit card will do the same thing. only use a credit card for online purchases do not use a debit card |
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Posted: 9/9/2013 11:28:31 AM EDT
[#42]
Awesome if used with common sense, lethal to your wallet and credit if used without common sense. I've had mine for eight years and never paid a penny in interest. Also, cashback bonus is AWESOME if you play it smart. Only use your CC on large purchases if there is no way to do a "cash discount" by paying w/ check or money order, otherwise the amount extra your paying to cover CC fees USUALLY outweighs the % back that you get. Before we were married, my now wife had never had a CC in her life. Being that she paid for her car in cash a long time ago, she had ZERO credit. I encouraged her to get a CC so we could get a decent rate on a nice house when we build in a couple years. She had to get a "secured" CC which I had never heard of. It makes sense for beginners, but when I got my first in 2005 I didn't have to. Times have changed apparently.
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Posted: 9/9/2013 11:45:03 AM EDT
[#43]
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I use mine for everything and pay it off every month, don't carry a balance. This. Get decent 'cash back' too. 4073 |
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Posted: 9/9/2013 12:13:46 PM EDT
[#44]
Every topic about credit cards on GD ends up going two ways:
1) They are the spawn of Satan himself. Do not get one. Pay cash or debit card. 2) FREE SHIT! Use them, but pay them off and enjoy the rewards. Seems to me that you have lasted this long without one and you are doing fine. Are you really missing out on tons of rewards? I doubt it. Just know the amount risk you are willing to take when using one. You never know what life will throw your way. You could get laid off, sick, injured and miss long periods of work, and then you'd have debt to pay. Me, I'm a low risk person so I'd prefer to pay for everything and miss out on the 'rewards' credit cards give you to use their product. Don't listen to people that say you need one to rent cars or hotels, that's a bunch of crap. |
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Posted: 9/9/2013 12:25:03 PM EDT
[#45]
Quote HistoryQuoted:
Every topic about credit cards on GD ends up going two ways: 1) They are the spawn of Satan himself. Do not get one. Pay cash or debit card. 2) FREE SHIT! Use them, but pay them off and enjoy the rewards. Seems to me that you have lasted this long without one and you are doing fine. Are you really missing out on tons of rewards? I doubt it. Just know the amount risk you are willing to take when using one. You never know what life will throw your way. You could get laid off, sick, injured and miss long periods of work, and then you'd have debt to pay. Me, I'm a low risk person so I'd prefer to pay for everything and miss out on the 'rewards' credit cards give you to use their product. Don't listen to people that say you need one to rent cars or hotels, that's a bunch of crap. Seems like you only read what you want to read. "Rewards" may be a benefit, but ready access to credit and a secure means of payment is the real reason. Yes, you can earn rewards. The company is making 3% or so from the merchants, they can afford to throw perks your way. You know what isn't a bunch of crap? The very real fact that debit cards are tied directly to your checking account, and that fraud on such a card can really fuck up your day. What risk are you even talking about? The risk that you might spend too much? |
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Posted: 9/9/2013 12:30:18 PM EDT
[#46]
Quote HistoryQuoted:
Every topic about credit cards on GD ends up going two ways: 1) They are the spawn of Satan himself. Do not get one. Pay cash or debit card. 2) FREE SHIT! Use them, but pay them off and enjoy the rewards. Seems to me that you have lasted this long without one and you are doing fine. Are you really missing out on tons of rewards? I doubt it. Just know the amount risk you are willing to take when using one. You never know what life will throw your way. You could get laid off, sick, injured and miss long periods of work, and then you'd have debt to pay. Me, I'm a low risk person so I'd prefer to pay for everything and miss out on the 'rewards' credit cards give you to use their product. Don't listen to people that say you need one to rent cars or hotels, that's a bunch of crap. well, technically you could shit in a diaper for your entire life but some of us prefer to get a my little pony sticker from mommy when we use the potty I really don't see how you could get fucked up by a credit card unless you were willfully doing it I've been using credit cards since around 1988 and I've been laid off 3 times now I cannot remember the last time I carried a balance that wasn't paid at the end of the month credit card companies call people like me "convenience users" it seems weird to me that guy doesn't have a checking account and a credit card truly |
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Posted: 9/9/2013 12:32:25 PM EDT
[#47]
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Seems like you only read what you want to read. "Rewards" may be a benefit, but ready access to credit and a secure means of payment is the real reason. Yes, you can earn rewards. The company is making 3% or so from the merchants, they can afford to throw perks your way. You know what isn't a bunch of crap? The very real fact that debit cards are tied directly to your checking account, and that fraud on such a card can really fuck up your day. What risk are you even talking about? The risk that you might spend too much? Quote HistoryQuoted:
Quoted:
Every topic about credit cards on GD ends up going two ways: 1) They are the spawn of Satan himself. Do not get one. Pay cash or debit card. 2) FREE SHIT! Use them, but pay them off and enjoy the rewards. Seems to me that you have lasted this long without one and you are doing fine. Are you really missing out on tons of rewards? I doubt it. Just know the amount risk you are willing to take when using one. You never know what life will throw your way. You could get laid off, sick, injured and miss long periods of work, and then you'd have debt to pay. Me, I'm a low risk person so I'd prefer to pay for everything and miss out on the 'rewards' credit cards give you to use their product. Don't listen to people that say you need one to rent cars or hotels, that's a bunch of crap. Seems like you only read what you want to read. "Rewards" may be a benefit, but ready access to credit and a secure means of payment is the real reason. Yes, you can earn rewards. The company is making 3% or so from the merchants, they can afford to throw perks your way. You know what isn't a bunch of crap? The very real fact that debit cards are tied directly to your checking account, and that fraud on such a card can really fuck up your day. What risk are you even talking about? The risk that you might spend too much? this is true I do not have a debit card, just a regular atm card my debit card was hacked in 1995 or so, some asshole bought $3500 worth of TVs and the debit went right to my checking account took months to get the money back from the bank |
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Posted: 9/9/2013 12:39:58 PM EDT
[#48]
TL;DR most of thread.
Get a credit card. Check out Bankrate for some good articles on financial matters. Pay credit card balance each month to avoid interest. It works like this: Statement period starts on first of the month and runs till the 30th. You put your monthly expenses (gas, groceries, Dr., etc.) on the card. Statement closes on the 30th and a bill is produced (email or snail mail, however you set it up). It will show an absurdly low minimum payment, don't pay only that. Pay the full balance. Full balance is typically due by 28 days after bill is generated to avoid accruing interest. Don't charge it if the money isn't in your bank already. Use Mint to track your spending and keep it under control. Credit cards are good if you are responsible with them. They are VERY bad if you are not a responsible person. |
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Posted: 9/9/2013 12:40:32 PM EDT
[#49]
Quote HistoryQuoted: No, no, no... this GD. If some people can't control their spending, that makes credit cards bad. Period. You know, just like some people misusing firearms makes guns bad, and some people being alcoholics makes booze bad, and some people being fat makes ice cream bad. |
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Posted: 9/9/2013 12:53:08 PM EDT
[#50]
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How is borrowing money and paying it back free money? The interest you earn? Not too much.... Quote HistoryQuoted:
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I use mine for everything and pay it off every month, don't carry a balance. +1. I love getting free money. How is borrowing money and paying it back free money? The interest you earn? Not too much.... How are you paying interest if you pay off the entire balance? The free money I was referring to is the cash back I earn whenever I make a purchase. I think I get 1-3% on each purchase |
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