How Do You Manage Your Credit Cards?

[AstroVannin]

the way i figure, if you can't pay cash, you can't really afford it.

Agree..... But....

rent a car, book a hotel, order online from somwhere that doesnt have paypal. Even paypal, yeah you CAN use a checking Acct... but I dont like waiting 7 days to transfer in or out, its a pain in the ass

Theres more benefit to having a CC other then living off the credit (not that you would know that based on the average CC user)

[JohnD1079]

Some of you guys against credit cards sound moronic. How are you going to get a mortgage, finance a car, have money for an emergency? You need credit for that. How in the world are you going to get low interest rates? Just to let you guys know, 2010 is right around the corner, its not about the cash money anymore, but the Platinum and Black AMEX.

I put everything I can on my credit cards. I avoid debit and cash as much as possible. I have a total of 4 credit cards. I haven't payed 1 cent in interest. Its all about living within your means.

Curious, How do you guys pay for stuff you buy on online stores? Many places dont take paypal.

[lokuputha]

OP- you can purchase a credit card with your own money. Pay $300 and you can pick up a $300 credit card.

you can build the same credit with a $500 credit card as you can with a $10000 credit card.

Credit scoring is as such:

no payment: - points
partial payment: 0 points
full payment: + points

That's it, its pathetically simple.

I use to have 5 credit cards when I first joined University; after some trouble, I cut them all up. now I only have one $500 credit card. I have managed to rebuild my credit score to around 900 in a mere 3 years. All I did was buy small items, things like gas and candy, and then transfer money to the credit card that day.

with credit cards follow the KISS rule: Keep it simple stupid.

Credit card money is not your money so don't use it if you don't have to. The money in the credit card can be used for purchases, as long as you have cash to back up that purchase. Use cash as much as possible, it will help save lots of money.

Video: Frontline - Secret History of the Credit Card (2004)

[Jonas]

they just keep sending me new cards. i guess my credit is good. i have like 6 of them. i only use one.

get one. use it. pay it off. use it. pay it off. use it. pay it off. as you pay it off, they'll raise your limit. it also builds credit.

a better way to build credit is to get a loan. credit cards are 'bad credit'. bank loans and such with collateral are 'good loans'

[ActAccordingly]

Agree..... But....

rent a car, book a hotel, order online from somwhere that doesnt have paypal. Even paypal, yeah you CAN use a checking Acct... but I dont like waiting 7 days to transfer in or out, its a pain in the ass

Curious, How do you guys pay for stuff you buy on online stores? Many places dont take paypal.

'check card'... debit card with a visa logo, works like a charm


JohnD, you are right, if you only spend on your credit cars what you can pay off immediately in cash, then it works, but it's very easy to slip... sounds like you can handle it though, which is good!


to the OP, look into getting a 'rushcard', it's the russell simmons prepaid visa, but they have a feature now where it will help you build credit

[DrSzSoLDIeR]

Easy. Dont have them.



I cant even get one of those...



^^Very smart man. That my way of looking at it. Hell, thast how it is cuz i dont a bank or CC, im all cash, so if i dont have the money fo rit, i dont get it. I dont think id ever have a CC even if i did have the credit. A checking acct/debit card is all i need.

if i dont den how am i suppose to buy a house?

[Jonas]

if i don't then how am i supposed to buy a house?

Fixed it for you.

there are other ways to build credit. as i said before, personal loans and other forms of 'good credit' are better than credit cards. and safer. your best bet is to take out some sort of loan with a cosigner that already has good credit, and keep up with the payments. even pay it off early.

save up $1000. take out a $1000 loan. make a few payments, then dump the rest on it. you'll spend a little in interest, but think of it as an investment.

and for chrissakes... dont write on the loan/credit application they way you type here!

[bobbycos]

fixed It For You.
And For Chrissakes... Dont Write On The Loan/credit Application They Way You Type Here!

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