i use my card for everything and pay it off at the end of the month, so why do i use a card? because i can get either cash rewards or free stuff that i would not get paying cash
you can make it pay you to use it...
Posted on 11/27/2011 7:20:54 PM PST by Graybeard58
So it's not bad, but just faking it!
Your “credit score” is another “product” invented to sell you something you don’t need.
Get credit card offers in the mail? Get blank checks from your credit card companies? You’re golden!
Close a credit card and your score is lowered.
Even if you pay your credit card in full every month on time for years on end, you are still penalized if you use too much of your credit line.
I believe these illogical rules are purposely set up to lower scores, of even the most credit worthy, so they can bang you with higher rates when you apply for credit.
$250 a month is a lot, to me anyway.
No need to fret, turn it around...
Do the FICO LIMBO !!!
See how low you can go!
Close a credit card and your score is lowered.
Even if you pay your credit card in full every month on time for years on end, you are still penalized if you use too much of your credit line.
I believe these illogical rules are purposely set up to lower scores, of even the most credit worthy, so they can bang you with higher rates when you apply for credit.
Exactly. I have never checked my credit score, and I certainly don't care to. I do not use credit - never have, never will. If I can't pay for it in cash, then I don't need it regardless of what I may think at the moment. It took me nearly 20 years of saving to purchase a home, but when I did it was mine (with the excecption of a dowry to the county tax collectors annually). Most people will roll their eyes and cast sarcastic comments, but I sleep well knowing I have never lived outside of my means even if it meant eating rice and ramen noodles for weeks at a time when I was younger. It is possible - people just need to set their priorities in order. Or ..... keep being screwed over by banks and CC companies.
You be correct, Credit is EVIL, don’t need it, don’t use it. Pay cash for everything, even a house.
i use my card for everything and pay it off at the end of the month, so why do i use a card? because i can get either cash rewards or free stuff that i would not get paying cash
you can make it pay you to use it...
How do you pay cash for a house? How does a family with regular incomes save enough to pay cash?
Live beneath your means, rent a very cheap place and save the difference or double up with family and save the difference. You’ll have paid an amount equal to the original purchase price of the home before 15 years of a 30 year note is done anyway.
So, you’ll be living in reduced circumstance for a decade or more, but being payment free for the duration of outright ownership in order to avoid 30 years of payments, the first decade of which is very heavily interest and little principal, and ultimately paying twice as much for it over time, more or less.
Deferred gratification, it’s the way things used to be done.
My credit is better than my bank’s. The only problem is I have to bail them out and they don’t have to bail me out.
I do get what you are saying and it would be easy in a state that had inexpensive housing. There is no way do do what you suggest in states like say California or New York.
However, we have zero debit beside the house and are selling in one year and buying a place for cash.
Longer than you are suggesting but a strategy worked for us.
Bump
Ping
True, but what if you DON’T? Then, perhaps its nice to be able to see what’s going on and how you can fix it.
That said, most of the “credit scores” sold by companies are not the same ones used by lenders.
With just a few exceptions, only the FICO scores are the “real” ones. Anything else is just BS. Only a few places give a consumer the “real” FICO score.
It’s pretty hard to rent a car without having a credit card, at least in California.
OK. Well, that’s something I didn’t know.
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