PSX5Central
Non Gaming Discussions => Off-Topic => Topic started by: Living-In-Clip on January 21, 2004, 12:42:15 PM
-
*see subject*
How many credit cards do you have and how often do you use them?
I\'ve got one, only used it twice. Once for two Opeth tickets via Ticketmaster and then today, picked up around 10 DVD\'s are various online stores.
-
one, capital one plat. i use it all the time i never pay cash for gas anymore. plus it looks way better on a date then pulling out a wap of wrinkled dollar bills
-
None, I get junk mail every week though with application forms for platinum/gold cards. I just put them through the shredder.
-
[evil voice] give me those credit carrrrds! [/evil voice]
(https://psx5central.com/community/proxy.php?request=http%3A%2F%2Fwww.mccallie.org%2FtornadoX%2FISSUE%25201%2Fent%2Fs7.gif&hash=84cc111f1049fd2292a64e3546a5cf8e6dec1bab)
-
Originally posted by Kurt Angle
None, I get junk mail every week though with application forms for platinum/gold cards. I just put them through the shredder.
smartest thing you could do! i have one & used it may be like 4 times credit & something like 5 times to get money off it,and now my balance is over 4grand! :mad:
-
It would be nice to have one but alas, I don\'t. I need to build some credit.
-
I have one with a $500 limit which isn\'t enough to get in trouble with. They keep trying to up my limit but I don\'t let them, i\'d get into way to much debt that way. My wife\'s card has about $3,400 on it, but we are paying it off bit by bit.
Wait as long as you possibly can to get a CC. They are evil.
-
Mine only has a $250 dollar limit, so that helps me.
-
I have several. Only use one. I get airline miles for it so I charge the hell out of it. I pay off about 1500-2000 a month. I have enough for several trips.
-
I have three personal cards: Mastercard, American Express, and Diner\'s Club. The Diner\'s Club is for use on company-reimbursed expenses only. I also have a Visa card with a $100,000 limit that is used for company purchasing only. I don\'t carry that one around with me. It stays locked in a drawer at my office.
I use the MC and Amex all the time to replace cash. I don\'t understand why so many people say they "get in trouble" with credit cards. Just pay your statement in full every month, and there\'s no problem. If you know you won\'t have the money to pay in full when the statement arrives, then don\'t buy it. I don\'t like to pay interest to credit card companies for the priviledge of spending my own money. I save it first, then spend it. :)
BTW, it\'s good to have a few credit cards to develop your credit rating. It\'s bad to have too many though.
-
Originally posted by Coredweller
I have three personal cards: Mastercard, American Express, and Diner\'s Club. The Diner\'s Club is for use on company-reimbursed expenses only. I also have a Visa card with a $100,000 limit that is used for company purchasing only. I don\'t carry that one around with me. It stays locked in a drawer at my office.
I use the MC and Amex all the time to replace cash. I don\'t understand why so many people say they "get in trouble" with credit cards. Just pay your statement in full every month, and there\'s no problem. If you know you won\'t have the money to pay in full when the statement arrives, then don\'t buy it. I don\'t like to pay interest to credit card companies for the priviledge of spending my own money. I save it first, then spend it. :)
BTW, it\'s good to have a few credit cards to develop your credit rating. It\'s bad to have too many though.
I personally pay almost in full every month, carry abit over each time. I\'ve heard that if you just pay it off ASAP it doesn\'t look near as good on your credit.
Example:
I had 230 dollars to pay.
I paid 200 dollars.
-
Discover and Mastercard - DC $12,000 limit and the MC has about a $15,000 limit.
-
Originally posted by Coredweller
I have three personal cards: Mastercard, American Express, and Diner\'s Club. The Diner\'s Club is for use on company-reimbursed expenses only. I also have a Visa card with a $100,000 limit that is used for company purchasing only. I don\'t carry that one around with me. It stays locked in a drawer at my office.
I use the MC and Amex all the time to replace cash. I don\'t understand why so many people say they "get in trouble" with credit cards. Just pay your statement in full every month, and there\'s no problem. If you know you won\'t have the money to pay in full when the statement arrives, then don\'t buy it. I don\'t like to pay interest to credit card companies for the priviledge of spending my own money. I save it first, then spend it. :)
BTW, it\'s good to have a few credit cards to develop your credit rating. It\'s bad to have too many though.
they get into trouble because of the high interest rates..(yours truly ;))..and stay away from american express as i understand that you have to pay them back in full every month.. (i know only spend within your limit) but you can really get caught out there with that card! amer.express :)
-
My mom took my ATM card when I was 13. And since then, the only thing I ever have on me is cash.
-
About 4 CC\'s:
2 Visas - about $8k credit combined
1 MC - $1.5k
1 Discover - $1k
I only use the 1 Visa that\'s connected to my bank for easy internet pay. I have about $6k in debt after college that I\'m slowly paying off. :evil:
-
Originally posted by clips
they get into trouble because of the high interest rates..(yours truly ;))..and stay away from american express as i understand that you have to pay them back in full every month.. (i know only spend within your limit) but you can really get caught out there with that card! amer.express :)
If you pay the entire balance every month, then you are not paying any interest. Therefore interest rates are irrelevant.
Yes you have to pay your full American Express statement every month. I do that anyway, so no problem. Don\'t spend what you don\'t have; that\'s all there is to it. The real problem with Amex is that it is not accepted everywhere.
-
i guess that is why some of us black folk have bad credit!:D j/k but my credit is not bad..it\'s also not the greatest..i just need to double up on the payments..as it is now i pay a little more than the minimum & that\'s what is really killing me.
-
Originally posted by SwifDi
My mom took my ATM card when I was 13. And since then, the only thing I ever have on me is cash.
Sucks to be you.
I\'ve had an ATM card for god knows how long. I know at least since I was 15.
-
She freaked out when I took out 25 dollars to buy some Nintendo 64 after I had the card for like an hour. Then I was mad, but I\'m glad she did it, I\'d be flat broke if I had that thing burning in my pocket. Just a good life lesson.
-
Originally posted by SwifDi
She freaked out when I took out 25 dollars to buy some Nintendo 64 after I had the card for like an hour. Then I was mad, but I\'m glad she did it, I\'d be flat broke if I had that thing burning in my pocket. Just a good life lesson.
It\'s called self control.
You should have it by now.
;)
Anyways, the best life lesson is suffering and humilation. Take the ATM, go broke and then suffer the humilation.
-
Originally posted by Living-In-Clip
I\'ve heard that if you just pay it off ASAP it doesn\'t look near as good on your credit.
Example:
I had 230 dollars to pay.
I paid 200 dollars.
WHo in the heck told you that? Credit card companies still make money off of people who pay in full. THey get a percentage of the purchase plus a transaction fee every time. Why would they care if you pay it in full? I would think that if you carry no balance that it shows you are extremely responsible.
Not that a 30 dollar balance is any big whoop. Just wondering where the reasoning is.
-
Originally posted by videoholic
WHo in the heck told you that? Credit card companies still make money off of people who pay in full. THey get a percentage of the purchase plus a transaction fee every time. Why would they care if you pay it in full? I would think that if you carry no balance that it shows you are extremely responsible.
Not that a 30 dollar balance is any big whoop. Just wondering where the reasoning is.
When I went to get my loan for my newest car, I had one thing on my credit. That was my previous car, which I owned for six months and paid off. When I went to get the loan, I was told if you pay everything off early it doesn\'t actually count towards your credit, as much as if you make smaller payments.
-shrugs-
-
Originally posted by videoholic
WHo in the heck told you that? Credit card companies still make money off of people who pay in full. THey get a percentage of the purchase plus a transaction fee every time. Why would they care if you pay it in full? I would think that if you carry no balance that it shows you are extremely responsible.
Not that a 30 dollar balance is any big whoop. Just wondering where the reasoning is.
um i may be tha last person to ask about this but lic has a point. it\'s better not to pay cards off quickly. when applying for a house or car, when your credit report comes up and if it shows you paid you car loan or credit card off on time or in a reasonable time frame, it shows you are diciplined to make payments for the long haul. paying stuff off quick is good generally but they like to see you go full term (because they can make more money off you) ;)
-
Originally posted by clips
um i may be tha last person to ask about this but lic has a point. it\'s better not to pay cards off quickly. when applying for a house or car, when your credit report comes up and if it shows you paid you car loan or credit card off on time or in a reasonable time frame, it shows you are diciplined to make payments for the long haul. paying stuff off quick is good generally but they like to see you go full term (because they can make more money off you) ;)
Exactly, that\'s what I was trying to say.
-
one visa card, and in limit around 400$, maxed out and in dept.
Worst time I\'vc ever maxed out my card was when I was in Denmark with a buddy of mine, in some porn store buying stuff and I had reached my limit.
talk about embarrasing, I had to walk out of the store without an unmarked black bag.
-
Originally posted by Living-In-Clip
When I went to get my loan for my newest car, I had one thing on my credit. That was my previous car, which I owned for six months and paid off. When I went to get the loan, I was told if you pay everything off early it doesn\'t actually count towards your credit, as much as if you make smaller payments.
-shrugs-
I think you guys have this slightly wrong. The credit reporting companies analyze your credit history in a very predictable way.
When you try to apply for a "big" loan like a car or a house, the most important variable is your history in how well you paid back other "big" loans in the past. Therefore, it\'s much easier to finance a car if you\'ve already financed and paid off another car before, and all payments were made on schedule. Likewise with a house purchase.
The other "smaller" credit items on your credit report (such as credit cards) are insignificant compared to the big loans, unless they are bad, in which case they will hurt your credit rating. The ideal way to use credit cards as far as your credit rating is concerned, is to pay them off in full every month. Then your report will say that you had a Visa card for 8 years, always made all required payments, and never had a late payment. That\'s all the benefit you can get from it. It\'s not especially helpful to your overall score, but it doesn\'t hurt. If on the other hand you constantly carry a balance of $2,000, then when you try to get a car loan, they will say "You want to borrow $12,000, but this says you already owe $2,000." It will work against you. Carrying a balance cannot really help you, it can only hurt you.
Other stuff like paying utility bills does not benefit your credit rating hardly at all. What matters is your current income, how much you currently owe, and your history in paying off previous loans. Credit card debt is not as important as loan agreements.
-
I understand what you are saying, but there is no one more disiplined than someone who pays off their entire card. Not only are they disciplined, but they know how to manage money so you don\'t pay interest. I can see it both ways.
I run a balance on my card BTW, but it\'s pretty small.
-
1 Platinum Discover
1 Mastercard
Applied for an eBay Mastercard...
Constantly getting offers for more cards...
Combined credit limit is 5 figures...
I have excellent credit...
:fro:
-
Agreed, pay your balances in FULL every month. The incentive for doing this is much better. Why would you want to throw your money at your CC company to build your credit rating?
Get car loans through a credit union, never through the dealer.
-
One, a Target Visa :) My parents co-signed it for me when I was 16, but now I\'m old enough to have one on my own.
-
Don\'t have a credit card.. Will get one when i go back to work.. 500 limit on it, and pay for everything with it. Then same day or week with pay it back. That way i\'ll get a good credit rating. Woot. :)
-
All I know is DeepDiscountDvd.com and PokerIndustries.com are goin\' to become my new best friends... Which also means I\'m goin\' to be forced to find more storage for my DVD\'s.
:eek:
-
L-I-C, your new avatar is from "The Machinist" right? It has not been released yet, I believe. I read about it and it looks like it will be good. :)
-
Visa Platinum.
It\'s not good to have more than one especially if you can\'t control your spending. I just don\'t want the temptation.
-
I have a Visa, myself. I pay it in full every month. I got it to help establish good credit and I\'ve done that. I use it to buy games and expensive things when they come up like car repairs or whatever.
And traffic violations. ;]
I think I\'ve upped the limit to something like $4,000. I\'d never use it for that much, I just like to see how much money they\'d let me have. Kinda makes me want to call and raise the limit again.
-Eik
-
Originally posted by Living-In-Clip
All I know is DeepDiscountDvd.com and PokerIndustries.com are goin\' to become my new best friends... Which also means I\'m goin\' to be forced to find more storage for my DVD\'s.
:eek:
Thanks for the referral...
Gotta check out that site...
-
I don\'t have any credit cards and really don\'t plan to. They will get me with interest rates and I almost always have cash on me for whatever I need. I\'d save more money if I were to just use cash on everything, then I can buy something cool with the money I saved :D
-
I just have a debit card, can\'t really get into trouble with that.
-
Originally posted by Coredweller
L-I-C, your new avatar is from "The Machinist" right? It has not been released yet, I believe. I read about it and it looks like it will be good. :)
Indeed, I\'m a Christain Bale whore and it looks like it\'s going to be a good movie.