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Topic:
I always used to avoid credit cards.
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Reapist
Title: Official ACF HIOFI Poster
Posts: 4,367
Registered: 2001-12-20 03:56:16
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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But about 6 years ago I decided to start building them up so I could increase my buying power at a lower interest. I can see why people get in trouble. The first one I got was only for $500. And I always pay it every month. Never paid a cent of interest. Then I got on for Home Depot cause of a remodel I was doing. They started me at $1500. Same thing. Never paid interest. Once I did carpet and if we paid it off in a year, no interest. We did that. Now a hot water tank for the rent house. If we pay it off in 6 months..no interest. Then we got one from Cabelas. Wanted to build points. By this time the personal card was up to $700 and the Home Depot up to 5K. Cabelas started us at $8,500. Was shocking to us.
So then I had a stroke and we needed 5K work on sewers. So the Cabelas is hoovering around 5K. And the others have still gone up to $1100 and $7,500. I know when we get Cabelas paid of this summer it is likely to go up again. You have to be pretty disciplined, but I can see how people lose control of their credit.
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Referring to illegal aliens as 'immigrants' is the same as referring to shoplifters as 'shoppers' - Dorvinion
I'd feel bad for Satriani but he got himself into it. - allmightybob_MLF
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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seems like you have too.
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-Mithan-
Title: VNBoard Admin
Posts: 1,287
Registered: 2000-3-1 11:53:15
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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I've had 1 credit card since 1994 and my credit score is about 835 or something crazy like that, but Credit Score doesn't affect much in Canada anyways, certainly not your interest rate. Maybe it does if your stupid and have a real low rate but I dont know.
Point is, in all that time, I have never once carried a balance. I've always used the Credit Card as a "debit card", meaning I buy something I already have cash for and then go pay it off a few days later via my online-banking.
I firmly believe if you are using a Credit Card as a Credit Card, you are living outside your means and are dumb.
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I survived to the end and got nothing out of it, but hey.
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Reapist
Title: Official ACF HIOFI Poster
Posts: 4,367
Registered: 2001-12-20 03:56:16
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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Bat_Avenger posted:
seems like you have too.
Indeed. That's why my credit is over 750 now.
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pkhere: Jebus sometimes you make my arse tired.
Referring to illegal aliens as 'immigrants' is the same as referring to shoplifters as 'shoppers' - Dorvinion
I'd feel bad for Satriani but he got himself into it. - allmightybob_MLF
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Reapist
Title: Official ACF HIOFI Poster
Posts: 4,367
Registered: 2001-12-20 03:56:16
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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Mithan, in the US they use your credit score to determine what interest you will pay.
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pkhere: Jebus sometimes you make my arse tired.
Referring to illegal aliens as 'immigrants' is the same as referring to shoplifters as 'shoppers' - Dorvinion
I'd feel bad for Satriani but he got himself into it. - allmightybob_MLF
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JD_HOGG
Posts: 2,846
Registered: 2008-3-18 08:04:21
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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I use them to pay my bills to get air miles, and pay off the balances in full every month. I haven't had to pay for a plane ticket in probably a decade.
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Reapist
Title: Official ACF HIOFI Poster
Posts: 4,367
Registered: 2001-12-20 03:56:16
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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Nice. I build a lot of points every time I'm sent to Japan. But I've never redeemed them.
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pkhere: Jebus sometimes you make my arse tired.
Referring to illegal aliens as 'immigrants' is the same as referring to shoplifters as 'shoppers' - Dorvinion
I'd feel bad for Satriani but he got himself into it. - allmightybob_MLF
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The-Sofa-King
Title: King of the Futons
Posts: 144
Registered: 2002-7-9 22:06:31
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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JD_HOGG posted:
I use them to pay my bills to get air miles, and pay off the balances in full every month. I haven't had to pay for a plane ticket in probably a decade.
Which airline card do you have? I've been thinking about changing from my regular old blue american express to an airline miles card, because I do a decent amount of traveling now a days, but I haven't really looked into it much yet.
I've had a CC since I turned 18, and I've always paid off the balance at the end of the month. I've never bought anything I didn't have the money for in my bank account, so I always find it strange people use their CC to purchase stuff they know they can't or will not be able to afford.
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jeune
Posts: 216
Registered: 2005-5-29 13:25:11
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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I always use my credit cards because it is free money with the cash back.
Just use the card like a debit card and pay it off each month... you get the cash back and no interest.
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Date Posted:
1/1/00 12:00am
Subject:
I always used to avoid credit cards.
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jeune posted:
I always use my credit cards because it is free money with the cash back.
Just use the card like a debit card and pay it off each month... you get the cash back and no interest.
Yep, this. We use out rewards card to pay every bill that will accept a credit card payment, then just pay the credit card off each month. We dont spend a ton of money each year but we have gotten some small kitchen appliances, Target gift cards and Best Buy gift cards from it. Id estimate we've gotten about $750 in benefits from rewards over the past few years. Not too shabby for a middle class family.
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