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Posted: 9/9/2013 1:26:43 AM EDT
[#1]
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.... |
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Posted: 9/9/2013 1:29:40 AM EDT
[#2]
Quote HistoryQuoted:
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.... Pay it off every day? Doesn't that make it a hassel? |
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Posted: 9/9/2013 1:30:30 AM EDT
[#3]
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. 
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Posted: 9/9/2013 1:33:12 AM EDT
[#4]
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Posted: 9/9/2013 1:46:37 AM EDT
[#5]
Quote HistoryQuoted:
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. |
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Posted: 9/9/2013 1:47:51 AM EDT
[#6]
I use mine for everything and pay it off every month, don't carry a balance.
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Posted: 9/9/2013 1:55:22 AM EDT
[#7]
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. |
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Posted: 9/9/2013 1:55:54 AM EDT
[#8]
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. |
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Posted: 9/9/2013 1:56:08 AM EDT
[#9]
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. |
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Posted: 9/9/2013 1:59:45 AM EDT
[#10]
Rules of a credit card; don't be an idiot.
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Posted: 9/9/2013 2:08:52 AM EDT
[#11]
Do you have a bank or credit union where you have accounts (saving, checking, money market, etc.)?
Go there and get their credit card. Open up web banking accounts and do 95% of your banking online. Buy everything you purchase on your credit card (gas, food, everything). Pay it off online each month with the web banking from one of your other accounts. |
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Posted: 9/9/2013 2:09:13 AM EDT
[#12]
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit.
Credit isn't a bad thing. High debt is. |
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Posted: 9/9/2013 2:09:26 AM EDT
[#13]
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. 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. |
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Posted: 9/9/2013 2:10:30 AM EDT
[#14]
Quote HistoryQuoted:
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. Quote HistoryQuoted:
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. |
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Posted: 9/9/2013 2:11:33 AM EDT
[#15]
Quote HistoryQuoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? |
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Posted: 9/9/2013 2:12:51 AM EDT
[#16]
Quote HistoryQuoted:
So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? Quote HistoryQuoted:
Quoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? No, you will accrue interest on the balance every month. That's how the companies make money. |
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Posted: 9/9/2013 2:12:56 AM EDT
[#17]
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. |
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Posted: 9/9/2013 2:12:56 AM EDT
[#18]
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. I've been told not to use debit for online purchase for some reason. |
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Posted: 9/9/2013 2:16:45 AM EDT
[#19]
Don't put anything on the card unless you already have the money on hand. None of this "I'll get paid before the bill is due so...." stuff. Don't fall for the "I can get 0% interest for the first six months so I can charge a lot of junk." mindset. Get one that offers a good cash back bonus. Read your terms CAREFULLY. The "grace period" they give varies. (Some cards used to NOT give a grace period, but I think they all give some timeframe now.) Make sure you pay early. One postal or processing slipup can wipe out your bonus quickly. |
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Posted: 9/9/2013 2:35:26 AM EDT
[#20]
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. You know your spending and savings habits best. The above is about as good advice as you'll get to the workings of credit cards. I've had credit cards for years, always paid off when the monthly bill comes in, but I also kept a rough mental tally of what I owed during the month so I could alter my spending if I thought I was spending too much. Don't do that now, I know every month I get a bill around $1200 for gas, groceries and other whatever else I buy. Knew a guy and his wife who would use the card, go home, write a check and put it in an envelope and update the check book. When the bill came due they'd just all put checks in the payment return envelope. Kind of convoluted but it worked for them. You could take each receipt, put it in an envelope, keep a running tally on the front to keep a close eye on how you do with it. Changed to Chase a few years back from Cabela's, have cash back of over $500 waiting for me to decide on buying with it. Sounds like you're pretty conservative with your money, get a credit card and ask for a limit you figure you can live within if this is your first credit of any kind. I did that for my first credit card when I was 21, asked for $300 to establish some credit (this was about 40 years ago so you may want a bit higher limit). Never went over it for the first few years. Now I could probably buy a car with the raise in limits they keep giving me. |
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Posted: 9/9/2013 2:36:34 AM EDT
[#21]
Quote HistoryQuoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. I've never carried a balance and have excellent credit. |
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Posted: 9/9/2013 2:49:30 AM EDT
[#22]
Quote HistoryQuoted: I've been told not to use debit for online purchase for some reason. Either you're a troll or you've been sleeping under a rock for the past 20 years. No one is that naive. Start reading bankrate.com... the articles will tell you everything you want to know about credit cards. I'll give you an easy example. You buy some gas and a dvd at the beginning of your statement cycle -- not the beginning of the month, because your cycle starts whenever they issue the card. So it can start any time of the month unless you call them and request it. You have a "grace period" which means you aren't charged interest in the $100 balance until the end of the grace period, which is usually when your next statement cycle starts. Most cards have variable interest, some have fixed. As long as you pay the balance off before the end of the grace period, then you aren't charged interest. Everyone here is going to tell you to use debit cards, but they won't tell you that the federal laws are different for debit cards than credit cards. You aren't guaranteed the same rights with debit cards. That's why people are wary of using them online. If you start reading bankrate.com, you will learn more. Last thing: the reason credit cards are the "devil" is ... let's say you owe $5000. The interest per month will be like 1%, so $50. The "minimum payment" will be like $100. It's soo low that it would take you 10-15 years or something to pay off the entire balance by only paying the minimum payment. They deliberately set the minimum payments low to trap people into only paying it so the bank makes shit loads of interest. Now you know. ETA: the worst thing is... people charge up SOOO much that the minimum payment is the most they can then pay. Then they are truly fucked, because they'll be paying on that card for the next 10+ years, and they're paying 10-15% interest. They're getting raped in interest for the next 10-15 years and the only way out is bankruptcy for those people. Now you really know. |
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Posted: 9/9/2013 3:16:41 AM EDT
[#23]
Quote HistoryQuoted:
So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? Quote HistoryQuoted:
Quoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? That "advice" is 100% wrong. Your credit score will be better if you have a small amount on it- 1%-10% of your overall credit limit. But you don't have to carry that over for months, using it regularly for a few small purchases and paying it all the way off each month is the best way to go. The safest option to build credit would be to have it auto pay some bills of yours, and set up your credit card for automatic billing. That way you keep your utilization low (good) you won't miss any payments (good) and you'll start to build a credit history (really good). Get another card a year or so later and do the same thing. You do not pay interest if you pay your card on time. Credit card companies make money every time you use your card, they don't need- or want- you in debt to make money. I fucked up my credit because I was young, stupid, and didn't bother to learn about how credit was built. Learn the rules and its easy. |
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Posted: 9/9/2013 3:26:06 AM EDT
[#24]
They're a great way to spend more money than you have and then get into overwhelming debt. Ask me how I know.
I have zero credit card now, but it took years and years. eta: Renting a car or reserving a hotel room without a CC is a PITA. They have their place. |
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Posted: 9/9/2013 3:36:55 AM EDT
[#25]
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? My grandfather, who is the only person more stubborn than I am, insisted that I retain the services of his financial advisor when I was in my early 20's. For 5 years she and I fought about the idea of me getting a credit card. Her point was that I should build credit and that it would offer financial protection. My point was that I hadn't needed it yet and credit is dumb. After 5 years of fighting she won. My main card is the first one I got, it is a mastercard through my main investment firm, the interest rate is extremely low because of our other business together. The reward points have an excellent conversion rate if I roll them into ROTH or IRA dollars. I use my credit card as cash, I buy the things I would buy anyway, I pay the balance off twice a month, when my paycheck clears my bank. Because of this I am never charged interest. I keep my utilization rate (balance / credit limit) low. And it has enabled me to build up an almost fantastic credit score in no time. (96th % according to creditKarma) Credit cards are a fantastic financial tool , and they do very well as a safety device. My Savings account exists to house some emergency cash, and to pool up extra cash before it moves to my investment accounts My Checking account exists to pay my bills (Car, CC, Rent0 My credit card is the actual money that I spend t live; I buy groceries, gas, insurance, and every thing else. I track my spending on my CC website, I keep it payed off, and it provides me with a certain level of protection |
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Posted: 9/9/2013 3:40:13 AM EDT
[#26]
Quote HistoryQuoted:
That "advice" is 100% wrong. Quote HistoryQuoted:
Quoted:
Quoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? That "advice" is 100% wrong. This. It is a myth that you have to be makign interest payments on a credit card in order to positively affect your credit rating. FICO scores are not voodoo. |
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Posted: 9/9/2013 3:49:57 AM EDT
[#27]
The only thing more mystical than credit cards to arfcom is a vagina.
Credit cards are not the devil. Just like "don't stick it in the crazy" - just don't go stupid with a credit card. And, don't buy the latter with the former. |
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Posted: 9/9/2013 3:55:57 AM EDT
[#28]
I was in the same boat as you not all that long ago.
I knew I needed to build my credit, so I got a Capitol One card. My limit is $350 as of now, and I use it to fill a tank of gas (+/- $60) each month, then I pay it off by the due date in full (no interest). After I had the card for 3-4 months, it gave me perfect credit. I actually bought a car with that perfect credit  . Again, 0 credit to like 790 in just a couple of months.
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Posted: 9/9/2013 3:56:15 AM EDT
[#29]
Only buy what you have the cash in the bank to pay for, and then when the bill comes pay it off in full every month.
You'll pay no interest. |
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Posted: 9/9/2013 3:58:45 AM EDT
[#30]
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. +1. I usually get a tank of gas every other month from my purchases in rewards |
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Posted: 9/9/2013 4:01:33 AM EDT
[#31]
They are ok, just be careful with them.
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Posted: 9/9/2013 4:02:01 AM EDT
[#32]
Quote HistoryQuoted: I've been told not to use debit for online purchase for some reason. Quote HistoryQuoted: Quoted: 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. I've been told not to use debit for online purchase for some reason. Most credit cards have a fraud protection. Someone jacks your info and uses your card, you report the fraud and the credit card handles it. You pay nothing. On a debit card if your info is jacked the criminal takes the money directly from your checking account. You have to report the fraud and then work with your bank to get your money back. Which one of those sounds less of a pain in the ass? I've had the former happen to me (a card I used when I was in a foreign country, could have SWORN, that I hand canceled it two years before one day I got a bill for $1,800 for GPS units that were bought in AUSTRALIA!!!!!). Literally all I did was call the insurance company, they saw where the purchases were made and said "okay, we will cancel the card and send you a fraud packet." I filled out a few forms, sent them in, and that was the end of it. Next month I got a statement showing a zero balance and a letter from them saying it had been resolved. |
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Posted: 9/9/2013 4:02:19 AM EDT
[#33]
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. This. Totally all of this. I'm always amused by the doughnut heads that are confused by what is a bone-simple stupid system. But, nobody ever accused GD of being all that smart. |
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Posted: 9/9/2013 4:03:13 AM EDT
[#34]
Quote HistoryQuoted:
Credit cards and "credit" is a quick way to get yourself into debt. . No, a lack of discipline and being too dumb to have a budget is a quick way to get yourself into debt. |
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Posted: 9/9/2013 4:03:37 AM EDT
[#35]
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.  A quality statement from the commie troll.
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Posted: 9/9/2013 4:05:45 AM EDT
[#36]
Quote HistoryQuoted:
That "advice" is 100% wrong. Your credit score will be better if you have a small amount on it- 1%-10% of your overall credit limit. But you don't have to carry that over for months, using it regularly for a few small purchases and paying it all the way off each month is the best way to go. The safest option to build credit would be to have it auto pay some bills of yours, and set up your credit card for automatic billing. That way you keep your utilization low (good) you won't miss any payments (good) and you'll start to build a credit history (really good). Get another card a year or so later and do the same thing. You do not pay interest if you pay your card on time. Credit card companies make money every time you use your card, they don't need- or want- you in debt to make money. I fucked up my credit because I was young, stupid, and didn't bother to learn about how credit was built. Learn the rules and its easy. Quote HistoryQuoted:
Quoted:
Quoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? That "advice" is 100% wrong. Your credit score will be better if you have a small amount on it- 1%-10% of your overall credit limit. But you don't have to carry that over for months, using it regularly for a few small purchases and paying it all the way off each month is the best way to go. The safest option to build credit would be to have it auto pay some bills of yours, and set up your credit card for automatic billing. That way you keep your utilization low (good) you won't miss any payments (good) and you'll start to build a credit history (really good). Get another card a year or so later and do the same thing. You do not pay interest if you pay your card on time. Credit card companies make money every time you use your card, they don't need- or want- you in debt to make money. I fucked up my credit because I was young, stupid, and didn't bother to learn about how credit was built. Learn the rules and its easy. Silence, everyone knows a FICO score is a tool the capitalist pig uses to crush the proletariat under the cruel boot of debt, leaving him chained to a lifetime of effort instead of ease. |
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Posted: 9/9/2013 4:06:14 AM EDT
[#37]
I literally pay for everything on my credit card for the cash back rewards, then I have automatic payment set up to pay off said credit card monthly so I never carry a balance. Like said earlier I get more cash back than the CC makes off interest from me.
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Posted: 9/9/2013 4:08:03 AM EDT
[#38]
Quote HistoryQuoted:
No, a lack of discipline and being to dumb to have a budget is a quick way to get yourself into debt. Quote HistoryQuoted:
Quoted:
Credit cards and "credit" is a quick way to get yourself into debt. . No, a lack of discipline and being to dumb to have a budget is a quick way to get yourself into debt. A MAJORITY of Americans fall into this category. Credit cards helping them get there quicker. |
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Posted: 9/9/2013 4:08:43 AM EDT
[#39]
Quote HistoryQuoted:
I've never carried a balance and have excellent credit. Quote HistoryQuoted:
Quoted:
You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. I've never carried a balance and have excellent credit. This x 1000. Carry a balance? You mean get reamed by double digit interest rates for a couple months on purpose? What am I missing here? |
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Posted: 9/9/2013 4:10:41 AM EDT
[#40]
Quote HistoryQuoted:
........... This x 1000. Carry a balance? You mean get reamed by double digit interest rates for a couple months on purpose? What am I missing here? Nothing. |
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Posted: 9/9/2013 4:13:42 AM EDT
[#41]
Quote HistoryQuoted:
A MAJORITY of Americans fall into this category. Credit cards helping them get there quicker. Quote HistoryQuoted:
Quoted:
Quoted:
Credit cards and "credit" is a quick way to get yourself into debt. . No, a lack of discipline and being to dumb to have a budget is a quick way to get yourself into debt. A MAJORITY of Americans fall into this category. Credit cards helping them get there quicker. If you change credit cards to guns you sound like a liberal anti-gunner with your logic of blaming credit cards for the faults idiots. |
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Posted: 9/9/2013 4:16:49 AM EDT
[#42]
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So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? Quote HistoryQuoted:
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You need to carry a balance to build credit. Get a low limit card (say maybe less than a grand) and charge a few hundred bucks on it. Pay it off over the course of a few months. This will begin to build your credit. If you pay he bill off at the end of each month, you won't build credit. Credit isn't a bad thing. High debt is. So, what about interest? Am I right in that credit cards don't add interest to your payments, unless you miss a payment? Use card Get statement Pay-off the entire statement No interest |
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Posted: 9/9/2013 4:20:12 AM EDT
[#43]
I'd pick whichever one offers the biggest incentives. Pay the bitch off every month! Get your rewards points or dollars, get a different card, drop the original. Might as well whore yourself out for the bonuses.
If you go out of the US, Capitol One is about the only one that doesn't charge a fee. If you fly at all, get one from the airline, usually you can get a free flight. I've done it twice on Frontier, they dropped me for not using the card, signed up again and got another free flight. |
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Posted: 9/9/2013 4:21:31 AM EDT
[#44]
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My grandfather, who is the only person more stubborn than I am, insisted that I retain the services of his financial advisor when I was in my early 20's. For 5 years she and I fought about the idea of me getting a credit card. Her point was that I should build credit and that it would offer financial protection. My point was that I hadn't needed it yet and credit is dumb. After 5 years of fighting she won. My main card is the first one I got, it is a mastercard through my main investment firm, the interest rate is extremely low because of our other business together. The reward points have an excellent conversion rate if I roll them into ROTH or IRA dollars. I use my credit card as cash, I buy the things I would buy anyway, I pay the balance off twice a month, when my paycheck clears my bank. Because of this I am never charged interest. I keep my utilization rate (balance / credit limit) low. And it has enabled me to build up an almost fantastic credit score in no time. (96th % according to creditKarma) Credit cards are a fantastic financial tool , and they do very well as a safety device. My Savings account exists to house some emergency cash, and to pool up extra cash before it moves to my investment accounts My Checking account exists to pay my bills (Car, CC, Rent0 My credit card is the actual money that I spend t live; I buy groceries, gas, insurance, and every thing else. I track my spending on my CC website, I keep it payed off, and it provides me with a certain level of protection Quote HistoryQuoted:
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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? My grandfather, who is the only person more stubborn than I am, insisted that I retain the services of his financial advisor when I was in my early 20's. For 5 years she and I fought about the idea of me getting a credit card. Her point was that I should build credit and that it would offer financial protection. My point was that I hadn't needed it yet and credit is dumb. After 5 years of fighting she won. My main card is the first one I got, it is a mastercard through my main investment firm, the interest rate is extremely low because of our other business together. The reward points have an excellent conversion rate if I roll them into ROTH or IRA dollars. I use my credit card as cash, I buy the things I would buy anyway, I pay the balance off twice a month, when my paycheck clears my bank. Because of this I am never charged interest. I keep my utilization rate (balance / credit limit) low. And it has enabled me to build up an almost fantastic credit score in no time. (96th % according to creditKarma) Credit cards are a fantastic financial tool , and they do very well as a safety device. My Savings account exists to house some emergency cash, and to pool up extra cash before it moves to my investment accounts My Checking account exists to pay my bills (Car, CC, Rent0 My credit card is the actual money that I spend t live; I buy groceries, gas, insurance, and every thing else. I track my spending on my CC website, I keep it payed off, and it provides me with a certain level of protection What's your main investment firm? |
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Posted: 9/9/2013 4:26:00 AM EDT
[#45]
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A MAJORITY of Americans fall into this category. Credit cards helping them get there quicker. Quote HistoryQuoted:
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Credit cards and "credit" is a quick way to get yourself into debt. . No, a lack of discipline and being to dumb to have a budget is a quick way to get yourself into debt. A MAJORITY of Americans fall into this category. Credit cards helping them get there quicker. You realize this is the exact same argument that the Brady Bunch uses to attack guns right? That most people can't handle them and the gun is helping them commit violence faster and more deadlier. Credit cards aren't doing anything to help stupid people get into debt quicker. Stupid people are helping stupid people to get into debt quicker. If there weren't credit cards they'd piss their money away on payday loans, renting furniture, hitting buy-here-pay-here car lots to buy shitty cars, buying prepacked name brand food, etc. The problem isn't the credit card, the problem is the people. Stop blaming the inanimate object. |
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Posted: 9/9/2013 4:28:34 AM EDT
[#46]
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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. |
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Posted: 9/9/2013 5:22:09 AM EDT
[#47]
capital one venture card pays you the most back to use it right now.
it paid for my week hotel stay this year, and even with the 59 dollar yearly fee, it paid for itself over my last card. 2 percent back on everything you spend. you do not get charged interest as long as it is paid off every month, on time. I have not paid any interested on credit cards for nearly 15 years. I have used the 0 percent interest checks a few times. The key to those is to pay it off 1 month early, and leave no balance on the card for 1 month. they tried to charge me interest, but I showed them I had no balance the previous month and they took it off. All my monthlly payments that will allow it, get auto charged to a credit card. I literally get paid back 2 percent to use them. discover gives 5 percent for something every month. we use that for that item only till we max out. like gas or travel, or eating out. DO NOT USE DEBIT CARDS. while it is protected as they say, every single person that has actually had their accounts cleared out had to wait for the money to be put back in so they had cash again. you don't want to be in that boat if you can help it. plus they don't pay you back for using them. If you are already spending within your means, and can control any impulse buying, then get a cash back credit card. it will pay you back for using it. |
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Posted: 9/9/2013 5:31:13 AM EDT
[#48]
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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? The only credit cards I have are sears and lowes for emergencies, other than that I don't use them and yes it actually hurts your credit to pay for things with cash up front 
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Posted: 9/9/2013 5:33:20 AM EDT
[#49]
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^^^^^^^^^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. Quote HistoryQuoted:
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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. |
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Posted: 9/9/2013 5:35:03 AM EDT
[#50]
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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 |
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