general Credit Cards- do you have/use one?

[Discordian 6,013]

I never have and if I had my way I never would. Unfortunately there's a lot of things you can't do if you have no credit history and credit cards are one of the few ways I know how to create one so I'll need to do it eventually.

 

Kinda stupid that I have to put myself at risk just to get an apartment.

 

Hell, some credit card companies require you to have a credit history just to get one. How the hell am I supposed to get one to make a credit history if I don't have credit history to get a card? :okiedokielokie:

[Rainboom Dash 1,055]

I should be getting one soon, it's being registered.

[PiratePony 8,473]

How the hell am I supposed to get one to make a credit history if I don't have credit history to get a card? :okiedokielokie:

 

There are starter credit cards that are more easy to get with little to no credit history. You can find them on creditcards.com  Then after you build up a good history, you can start acquiring the better cards that give all the rewards I spoke of above. Also, if you have a bank account, you can probably get a credit card issued through them.

 

 

 

I dont like the idea of using pretend money to pay for something

 

That's where a lot of people get into trouble. Because it's not pretend money. It's someone else's money.

 

My largest purchase was my motorbike, £2500 of which was on a credit card which was just something that had to be done

 

You couldn't get a low interest automotive loan? Did you try a bank? I wouldn't recommend putting vehicles on a credit card, because the interest is too high. For instance a credit card can have 17% interest, whereas my car loan has 1%.

Edited January 5, 2016 by PiratePony

[Lost 1,409]

You couldn't get a low interest automotive loan? Did you try a bank? I wouldn't recommend putting vehicles on a credit card, because the interest is too high. For instance a credit card can have 17% interest, whereas my car loan has 1%.

 

I couldn't get a loan, being a student my lack of income means that nobody loans money to me.

[Comic Sans 401]

I'm old enough for one, but I don't need one. I tend to overspend just using cash and debit, I don't think I'd do very well with a credit card. I get through life just fine without one anyway.

[Light Diamond 950]

I have a debit card and just use that. I get letters asking me to sign up for a credit card but i don't need or want one since i have enough of money.

[DixonTheAdversary 1,631]

I don't have one, and I don't plan on having one for a while.

[PiratePony 8,473]

MORE PIRATE PONY AWESOME CREDIT ADVICE:

 

#1 Important Reason. Okay, I threw out the fun stuff earlier like free money in the form of cash back (my food costs 5% less than yours) or free airfare. But here's a great reason.

 

CREDIT HISTORY

CREDIT SCORE

 

Sure, you may have enough money to pay for everything that you purchase. Congratulations. So do I. In fact, that's the point of using credit cards to your advantage is you only purchase what you can pay off in a month anyway. Besides the free stuff, using credit cards, the same accounts for years, creates a long credit history, which affects your credit score.

 

Because one day you will need to borrow money.

You may want a used car and not want to pay cash on it (even if you can afford to buy it all in cash)

You may want to mortgage a house 

 

And your CREDIT HISTORY DETERMINES YOUR INTEREST RATE.  I have a 2012 Ford, with a very low 2% interest rate. Those of you who go years without a credit card, if you get a auto loan, your interest rate will be higher, probably much higher, than mine. Because CREDIT HISTORY PROVES YOUR TRUSTWORTHINESS. You're essentially rewarded for paying back other people's money but being given lower juice on borrowing.

 

So, how do you build credit if you don't want to worry about overspending?

 

EASY CREDIT CARD TIP:  

Do you have any bills that you pay every month, with automatic payments taken out of the bank, such as your phone, cable, etc. If you have these regular bills, have them automatically charged to your credit card.

 

Then put your credit card on automatic payment. If you know what your bill is going to be, and you always cover it, have your credit card automatically paid out of your bank. Therefore, the exact same auto payments will happen, just through the credit card, which will give you rewards and build your credit history.

 

EASY CREDIT CARD TIP #2:

Have a couple cards laying around for only certain things. I have a mastercard and American Express that I only have for extra credit lines on my history and special events, like early purchases of Yankees tickets. The American Express I haven't used in about 5 years. Here's what I do...it comes in the mail, I activate it, I shred it, wait for the one next year. I occasionally will call and ask for my credit limit to be increased. Why? Because it increases my already excellent credit score. Which leads to 2% auto loans.

For a card that I shred year after year. 

 

Which leads to the question:  Why have an auto loan for 2% interest if I can afford to buy it in cash?

Because that cash I could have spent, I used to make more than 2% gain for myself, while Ford Credit bought the car from the dealer for me while I pay it off for a few years, and I get to the keep the difference. But that's another can of worms. 

 

SUMMARY:

Get a credit card. 

Put a few regular bills on it.

Set it to auto pay

Enjoy the low interest rate you'll have in 10 years. 

[PROJECT: Simon 3,953]

Of course XP More freedom, but you should think every time before you start using it on something C:  

[Invincible 2,090]

My bank account is a students' account. No commission means I have absolutely no reason to carry cash around. And I don't. I use a credit card to make all my purchases. 

[Xylosian 140]

American Express, it's the best, beats the rest, and it just has great benefits.

[PiratePony 8,473]

American Express, it's the best, beats the rest, and it just has great benefits.

 

I particularly like the automatic travel insurance and rental car insurance by using their cards.

[Yoshi89 5,291]

I got my first credit card just after I graduated high school, before Obama cracked down on who can and can't have one. I now have three but I mainly use just one of them. I don't really buy a lot on credit, I mainly use it for gas if it's the same price as credit.

[Thuja 3,658]

I'm unemployed and am currently on disability, I doubt I'm financially ready for a credit card.  When I lived in the states though, I did have one of those credit/debit cards that let me use credit and I think that spoiled me.  Now that I live in canada, I really do miss the whole credit/debit card thing I had with my old account in the states.

[PiratePony 8,473]

Here's some point plundering I'm doing right now:

 

I signed up for Southwest Airlines credit card for 50,000 bonus points in September. I needed a last minute flight NY to LA tomorrow. I was able to book it for "free" with a large majority of my points, but there's a few thousand left over.

 

I was shopping for a two day rental car. I was going to pay 75 (incl fees) in cash for two days, then found a cheaper rate at 67. Then I searched on my Chase Sapphire card: due to their travel agent system which gives you a discount on points (points are usually 1,000 per $100, but travel gives you $150 in travel for 1000 points), I used $55 in points. Boom.

 

Now I'm searching for a two night hotel stay using points. Looks like I found it. My sudden and expensive trip to the West Coast is looking like it's going to be completely free.   :D

 

 

[PS the points on the Sapphire can also be turned in for cash, if you don't have travel plans.]

Edited March 5, 2016 by PiratePony

[rarity1 461]

I don't have one but I'll probably get one so I can shop online.

[Ziggy + Angel + Rain 11,298]

I'm in my thirties and have never had a credit card.  I've never felt as though I needed one, and I've no intention of ever getting one.  We typically pay for things either with cash or through checking, and I avoid buying things I can't really afford.

[ARagY 1,152]

I have one and use one. I made it a habit early on to not overspend or spend at all as much as I could with any money. So as a result I didn't turn into a crazy teen maxing out their card. In fact, I've only gone into debt twice and it was absolutely necessary and I've been working to pay that off. No clothes, jewelry, candies, or cool toys have precedence over keeping my account in the green. 

 

*this is excluding my university debt please help me ;_;

Edited March 6, 2016 by ARagY

[Gernia 690]

I don't have one and don't need one. I only need one debit card right now.

[El Duderino 878]

I don't have one, and because I don't really need one right now, I don't want one. 

 

Funny story. When I got my first job and opened an account at a bank, the banker recommended I apply for a credit card, even If I didn't ever use it. He helped me apply for one that was directed toward students and people who are new to having a credit card. I got a letter later denying me the card because I had no credit score. I didn't really care because I didn't plan on using it, but I thought it was funny that the bank that recommended that I apply for a card denied me that card.

[Alphys Hedge 671]

I don't have one, but I plan on only using a credit card in times where I seriously need it. I prefer debit cards (though I don't actually have one of those either) since I know how much money I actually have, and I can manage it better.

[Roughshod 719]

I don't have one and probably won't for quite some time. I've thought about it but realized I don't really need one for anything besides some credit building which I'm already okay with. Meh, just not on my list of priorities right now.

[Miles 2,512]

You see, I use these things called checks for large purchases.  And of course I use cash for small amounts.  

I do need a credit card sooner than later though.  It's best to get one and make a [good] credit score while you're younger.  But for now I'll keep using checks.

~ Miles

[AtomicStone 723]

I've never used a credit card and don't think I will be needing one any time soon, at least until I decide to move out.

[KatonRyu 1,026]

I have one solely to be able to book hotels for vacation and tournaments in other countries. I'd rather not use it, though, since I don't like the ability to spend money I don't have. (Well, to be fair I do like that ability, just not the fact that I then have to pay it back)