Credit Card rant (got one)

[dquan97]

Looking to get back at least $200 in GC from my CC

 

[novon]

What card do you use which has the most perks?

 

[FrustratedUser]

Originally posted by: azazyel
THE CREDIT UNION, crap I can't believe I didn't think of that sooner!! Thanks ameshia

There is the key to your credit.

 

[RagingBITCH]

Originally posted by: azazyel
Just a rant...

You know I never thought being responsible would comeback and bite me in the arse. I am 27 and have never owned a credit card, mostly because I have seen some of the trouble my friends have gotten into because of them. I have never had a car loan, I would rather own a reliable piece of crap than make payments on a nicer car. I haven't even had an NSF check in the last 7 years. And now I decide it is about time to start a credit history and now I can't get a credit card. I have been planning on buying a new HDTV and I have the cash to do so but I thought it would be better to use a credit card. I know I should have expected this but come on, I am not trying to get a platinum card or anything. Heck, I don't even care how much the interest is because I was just going to make the minimum payment once then pay the whole thing off. I have put through an application for a bank visa card but I have a feeling I am going to be denied . It just bugs me that I might have to resort to getting a secured card because I haven't let myself get into debt.

Having a credit card doesn't mean you get into debt. This is your own fault.

 

[Hector13]

Originally posted by: SampSon

Originally posted by: Budmantom

Originally posted by: crystal
BTW, don't try to apply to so many cards at once. It will not help but hurt your causes.

Please explain how will it hurt his cause if he has no credit?

That's what I did way back when.. and I got aproved for more than half.

Tom

Because it runs numerous credit checks all around the sametime.

It looks bad to lenders.

actually, no. If you are going to apply for many cards, I think you are much better off doing so at the same time. That way, each application will probably not see the other credit checks as they will take a few days to show up.

If you apply sequintially, though, the later applications will see all the earlier inquiries and your lower credit score.

 

[azazyel]

Well, I actually got approved through my bank! Took them long enough but hey I got one. Now it's time to buy a big HDTV.

I am leaning towards this one:
Panasonic

 

[freegeeks]

Originally posted by: azazyel
Well, I actually got approved through my bank! Took them long enough but hey I got one. Now it's time to buy a big HDTV.

I am leaning towards this one:
Panasonic

congrats, now max it out

 

[azazyel]

Originally posted by: freegeeks

Originally posted by: azazyel
Well, I actually got approved through my bank! Took them long enough but hey I got one. Now it's time to buy a big HDTV.

I am leaning towards this one:
Panasonic

congrats, now max it out

They probably won't give me that much of a limit so I probably will. I have had the money to buy the TV for a long time so I am glad that I can finally get it and start off with good credit.

 

[dquan97]

I think CC are the next best thing since sliced bread. I pay off the balance in full every month and I get to have a $50 credit towards gift certs every month (due to rewards points)!

 

[Czesia]

Originally posted by: azazyel
Yeah, it just kills me though that when I was 18 I was getting credit cards in the mail all the time and now I can't get one to save my life.

Sweet Irony.

That sucks, though. I had a similar problem when I tried to get a credit card, but mine was related to the last jobs I had held. As a student, I switch jobs frequently, which really doesn't look good to a CC company. I finally got my cards though. I'm not sure if that's a good or a bad thing, though... they're way to easy to misuse.

 

[CChaos]

Neither credit nor debt are inherintly evil, though credit cards are obviously demonized by our society to explain it's own lack of control over spending. The key is using it wisely, not avoiding it completely. Otherwise, as you've found, it's not their if you ever want or need it.

 

[HappyFace]

Nice, what credit card do you use dquan?

 

[dquan97]

Originally posted by: HappyFace
Nice, what credit card do you use dquan?

Yahoo CC...1% towards giftcertificates

I also have the MBNA World Points card, which gives $$

 

[rudder]

Originally posted by: Orsorum
That is quite commendable, to make it that far in life without using credit. However, that is precisely the problem - you've never proved your trustworthiness with someone elses' money. Every person above the age of 18 should have a credit history, even if it's a card they don't use often.

Thats bad thinking. In order to get a credit history you have to take on debt. Why????? You do know you can buy a house without a FICO score?

 

[azazyel]

Originally posted by: rudder

Originally posted by: Orsorum
That is quite commendable, to make it that far in life without using credit. However, that is precisely the problem - you've never proved your trustworthiness with someone elses' money. Every person above the age of 18 should have a credit history, even if it's a card they don't use often.

Thats bad thinking. In order to get a credit history you have to take on debt. Why????? You do know you can buy a house without a FICO score?

Someone else told me that as well. But it can't hurt to have a good rating though.

EDIT: So, no comments on the TV?

 

[Nyical]

Originally posted by: Ameesh

Originally posted by: azazyel
Just a rant...

You know I never thought being responsible would comeback and bite me in the arse. I am 27 and have never owned a credit card, mostly because I have seen some of the trouble my friends have gotten into because of them. I have never had a car loan, I would rather own a reliable piece of crap than make payments on a nicer car. I haven't even had an NSF check in the last 7 years. And now I decide it is about time to start a credit history and now I can't get a credit card. I have been planning on buying a new HDTV and I have the cash to do so but I thought it would be better to use a credit card. I know I should have expected this but come on, I am not trying to get a platinum card or anything. Heck, I don't even care how much the interest is because I was just going to make the minimum payment once then pay the whole thing off. I have put through an application for a bank visa card but I have a feeling I am going to be denied . It just bugs me that I might have to resort to getting a secured card because I haven't let myself get into debt.

not getting a credit car dor car loan or building your credit in any other way is not responsible it is STUPID. you made a really dumb decision and now you are paying for it. imagine when you are ready to buy a house you are gonna have trouble becuase you dont have any established credit.

good job n00b.

Bitter assessment, but very true.

 

[Oakenfold]

Originally posted by: rudder

Originally posted by: Orsorum
That is quite commendable, to make it that far in life without using credit. However, that is precisely the problem - you've never proved your trustworthiness with someone elses' money. Every person above the age of 18 should have a credit history, even if it's a card they don't use often.

Thats bad thinking. In order to get a credit history you have to take on debt. Why????? You do know you can buy a house without a FICO score?

Um no one said anything about taking on debt. If you are paying the card off every month you aren't accumulating any debt, and building a credit history.

A good rule of thumb for establishing credit is 4 accounts open for a period of at least 4 years.
Sure you can buy a house without a fico score, I'm not sure I'd want to know the interest rate or the down payment.


:Q

 

[rudder]

Originally posted by: Oakenfold


Um no one said anything about taking on debt. If you are paying the card off every month you aren't accumulating any debt, and building a credit history.

A good rule of thumb for establishing credit is 4 accounts open for a period of at least 4 years.
Sure you can buy a house without a fico score, I'm not sure I'd want to know the interest rate or the down payment.


:Q

Just a personal opinion that I think its dumb for people to think they have to get a credit card and spend money with it to get a good interest rate when buying a house for example. A lender can manually rate you and if you have a good work history, proper income, etc, you will get the same rate as someone with an excellent fico score. Obtaining the FICO just does the work for them, but they will still do it if they need to.

Everyone is recommending he get a credit card, and maybe he should. But its to easy for a lot of people to fall into a trap where the debt will slowly build up. He is better off without a credit card.

 

[Mill]

What is with all the FUD, inaccurate information, and stupidity concerning credit? Sheesh people, you can find FICO information on what builds a score straight from the horse's mouth. Stop listening to random friends...