X Posted April 13, 2002 Share Posted April 13, 2002 Who here has credit cards and what do you like/dislike about them? Im in the market for one... or two :p Link to comment Share on other sites More sharing options...
Tim Dorr Veteran Posted April 13, 2002 Veteran Share Posted April 13, 2002 i refuse to buy ANYTHING on credit. I'm planning on buying my first car with the cash in hand at the dealership, and i'm working out the numbers on the house... Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 bump - come on guys... You cannot buy everything with cash. Link to comment Share on other sites More sharing options...
lawtai Posted April 14, 2002 Share Posted April 14, 2002 credit cards are just nice in the convenience factor. As long as you're sensible and don't overspend cause it become easy to overspend since you don't actually see the money leave until you pay the bill later in the month. Brand of credit card is really up to you. Just get one from one of the major companies like visa or mastercard so you don't have problems of not being able to use your card in places. Link to comment Share on other sites More sharing options...
Cheif_Bigfoot Posted April 14, 2002 Share Posted April 14, 2002 I just got a visa a few months ago and I like the ability to purchase stuff on the net and the safety factor. Run outta cash when your away from home use the cc. They can come in very handy at times. When you do get one just make sure that you get one with a low limit. I got a $500 limit so I can't dig my self in too deep. Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 Originally posted by Cheif_Bigfoot I just got a visa a few months ago and I like the ability to purchase stuff on the net and the safety factor. Run outta cash when your away from home use the cc. They can come in very handy at times. When you do get one just make sure that you get one with a low limit. I got a $500 limit so I can't dig my self in too deep. $500 - $1000 us, visa, is what im looking for. Dont need anything over that at this point. My main purpose for using the credit card will be for buying computer parts on line. May I ask which company your card is from? PM or reply here if you could. :D Link to comment Share on other sites More sharing options...
Geronimo Posted April 14, 2002 Share Posted April 14, 2002 I got a few. i only use one really. I would try to get one that has a few benifits. The one i use gives me miles from an airline. Link to comment Share on other sites More sharing options...
Keldyn Posted April 14, 2002 Share Posted April 14, 2002 I have a similar stance to timdorr concerning credit cards. I almost never use them, always in cash. If i need something that i dont have the cash for, like a new car etc, i get a loan. Credit cards are a trap...and the interest is killer.:s Link to comment Share on other sites More sharing options...
lawtai Posted April 14, 2002 Share Posted April 14, 2002 you don't have to deal with interest if you can pay off your bill all at once which is what i do. You waste/lost a lot of money if you pay in installements. That's how ppl just keep getting themselves into bigger and bigger debt. Just gotta know your own limits. My cards from my bank. Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 Originally posted by lawtai you don't have to deal with interest if you can pay off your bill all at once which is what i do. You waste/lost a lot of money if you pay in installements. That's how ppl just keep getting themselves into bigger and bigger debt. Just gotta know your own limits. My cards from my bank. I agree. Thats why I will be saving up all the money I need, before buying parts. This way I can get the lastest parts :) Link to comment Share on other sites More sharing options...
Tim Dorr Veteran Posted April 14, 2002 Veteran Share Posted April 14, 2002 Originally posted by X bump - come on guys... You cannot buy everything with cash. i've managed to survive so far. I only use a cash card for online stuff, but not credit as of yet. And I am on my way to buying a car with cash upfront. Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 Originally posted by timdorr i've managed to survive so far. I only use a cash card for online stuff, but not credit as of yet. And I am on my way to buying a car with cash upfront. Im no credit expert or anything but wouldnt it improve your credit if you got a loan for the car, then paid it off right away? Instead of using cash upfront.. Lets say you apply for a home loan, will they be able to see that you did buy a car, if you used cash? (I mean will they see that you are good for the home loan, if you used cash to buy the car. or is it the type of deal where they say " heres your car but this wont be shown on your credit report or whatever..." ) I hope someone can understand what im trying to say :o Link to comment Share on other sites More sharing options...
trashpickinman Posted April 14, 2002 Share Posted April 14, 2002 See if you can get a credit/debit card through your bank. Use it like a regular cc but it justs takes money right out of your account. Link to comment Share on other sites More sharing options...
duntez Posted April 14, 2002 Share Posted April 14, 2002 all credit cards do is make you spend money you dont have that your going to have to pay back in the long run cash is the way to go that way you dont have to pay back a damn dim:rambo: Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 Originally posted by trashpickinman See if you can get a credit/debit card through your bank. Use it like a regular cc but it justs takes money right out of your account. Right now, I only know of one bank (havnet raelly looked into other ones) that does that but I would have to be with the bank for like 6 months before they will give me that.. Thats why im thinking of just applying for a credit card. If they wont give me a real credit card then I would have to use the bank visa credit card. Link to comment Share on other sites More sharing options...
aemon Posted April 14, 2002 Share Posted April 14, 2002 Don't forget that things like renting a car in the US essentially impossible without a credit card. I have one that I use for internet purchases, airline tickets and car rentals. To those that think they are going to through life and buy houses for cash really need to consider talking to and an financial analyst. Just the tax benefits of a mortgage make paying cash for a house an undesirable purchase for most. As for improving your credit by not carrying a balance or getting a loan and paying it off right away, think again. You can only improve your credit by actually having it. If you pay off the balance right away, you never really establish yourself as a good credit risk. I see this situation everyday. An applicant comes it and thinks they have excellent credit and we have to turn them away because they really have little or no credit. When we run the credit app it comes back essentially empty. Sure it shows the credit card/s that they have but there is no 'credit payment' histories. To establish credit requires paying on time. That time is longer than the usual 28 day grace period offered by your credit card. It really stinks that the only way to have really good credit is to owe money and pay it off over time. There are ways however to do this without great expense. Mainly find a card that offers the lowest rate you can get. Then instead of paying your purchase off every month plan to carry a balance for 3 months. This will help establish payment history. Remember one very enticing thing... NEVER just pay the minimum due. You will get good credit at the expense of paying out a bunch of interest. Good luck. Link to comment Share on other sites More sharing options...
X Posted April 14, 2002 Author Share Posted April 14, 2002 Thanks for your insight. :) Link to comment Share on other sites More sharing options...
altezza Veteran Posted April 14, 2002 Veteran Share Posted April 14, 2002 Sometimes credit cards are useful. Better deals if I choose to pay by using credit card when I purchase something from internet. Cheaper deal. And the airline ticket...yes they are cheaper if purchased online :D Link to comment Share on other sites More sharing options...
Geronimo Posted April 14, 2002 Share Posted April 14, 2002 Originally posted by X Im no credit expert or anything but wouldnt it improve your credit if you got a loan for the car, then paid it off right away? Instead of using cash upfront.. Lets say you apply for a home loan, will they be able to see that you did buy a car, if you used cash? (I mean will they see that you are good for the home loan, if you used cash to buy the car. or is it the type of deal where they say " heres your car but this wont be shown on your credit report or whatever..." ) I hope someone can understand what im trying to say :o One needs to have a debt for 6 months before it shows up on credit reports. I always pay things in full and never took out loans when I was buying items. I have never had any debt, always paid my bills on time and in full, yet I have a low credit rating. It is really weird the way the system works. One of my friends on the other hand, has lots of debt, pays his bills but not in full and has a great credit rating. The system is setup on a 800 point scale system. He has a 700+ rating while i have a very small rating( forgot what it is). I have recently bought a very nice truck. I paid half up front and have no interest on it. Now I have enough to pay the rest off, but need the debt for six months to improve my rating. Companies rate you better if they know you can not pay off your debt right away. If you have to make interest payments they make money. I remember a few years back the major credit card companies were talking about charging people you pay off the balance very month $25 dollars because "we cant make money" if people do that. But enough talking how backwards the system is. Link to comment Share on other sites More sharing options...
Neztea Posted April 14, 2002 Share Posted April 14, 2002 I don't use a credit card, But i do use a debit card, which is more convinient because you have a limit, and you can't overspend...so its safe... Link to comment Share on other sites More sharing options...
Dazzla Veteran Posted April 14, 2002 Veteran Share Posted April 14, 2002 I stick to debit cards, that way There isn't the danger of spending what you don't have. You can only spend what you have in your account. Link to comment Share on other sites More sharing options...
Tim Dorr Veteran Posted April 14, 2002 Veteran Share Posted April 14, 2002 Originally posted by altezza Sometimes credit cards are useful. Better deals if I choose to pay by using credit card when I purchase something from internet. Cheaper deal. And the airline ticket...yes they are cheaper if purchased online :D that's what cash cards are for :D oh, and yes, let's build some credit. what for? why more credit! :right: :right: :right: Link to comment Share on other sites More sharing options...
craybox Posted April 14, 2002 Share Posted April 14, 2002 all i would say is be careful, it might sound fairly obvious but you can get in a lot of trouble unless you can Manage your money well. When I was 18 i got a credit card just to buy a playstation. But it didn't end there, i ended up with 5 credit cards with ?750 limit each. But ?750 is never your limit they let you go over thats how they earn their money. I ended up ?13000 in debt, people knockin on the door e.t.c. it becomes very scary. To this day 11 years later i am still paying it off only 1 year left to pay 8) also bear in mind that if you miss payments it goes against you as a County Court Judgement, and you will not be able to get a mortgage untill it is paid off, in most instances. I know I am talking about the UK but i guess it applies in a simular way in other countries! please be careful thats all i ask. just my 2 peneth worth. Link to comment Share on other sites More sharing options...
mariusu Posted April 14, 2002 Share Posted April 14, 2002 CASH...i think credit cards are a trap for overspending if you're not carefull enough!:) Link to comment Share on other sites More sharing options...
john smith 1924 Veteran Posted April 14, 2002 Veteran Share Posted April 14, 2002 credit cards.... i like cash.... Link to comment Share on other sites More sharing options...
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