Credit Cards, financial things, etc.

I charge everything to credit and pay if off immediately. I'm the worst kind of customer a credit card company could possibly have. I use their high limits to buy things like Macbook Pro's and then pay it off the next day once it registers on online banking. I have flawless credit and enough money in the bank to do this, though, because I've been extremely fortunate in the very basic sense of that word. I've never had an issue with money because I've always been good with it.

The solution to everything about credit cards is to just not buy things you can't afford and budget. Sit down with a calculator and figure out your cash flow (incoming cash and expenses, longterm goals) and go to work. It's really that simple. Also save a little bit (actually a lot if you can afford it) for a nest egg, too. You never know what's going to happen and having a nest egg to shelter you really helps you through rough times.

Not sure if this helps, but if you ever get two large debts, pay the minimum on one, and put forth all your effort into paying the other. otherwise it could take forever to pay off your balances.

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Originally Posted by Drewbacca

I'm the worst kind of customer a credit card company could possibly have. I use their high limits to buy things like Macbook Pro's and then pay it off the next day once it registers on online banking.

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If by worst kind of customer, you mean best kind of customer?

The credit card company just made ~$80 off of Apple for a single purchase.

Also if you ever have debt collectors after them, talk to them and claim you're going to claim bankruptcy. They get NOTHING if you declare bankruptcy, and they will try to make a deal with you.

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Originally Posted by burgundy

i think i identified the problem here

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You did. Worst chain ever.

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Originally Posted by Zerohero

Not sure if this helps, but if you ever get two large debts, pay the minimum on one, and put forth all your effort into paying the other. otherwise it could take forever to pay off your balances.

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This doesn't really matter. Unless the debts have different interest rates, then obviously pay the higher rate debt first.

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Originally Posted by Thief Silver

Also if you ever have debt collectors after them

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you already lost the credit game badly

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Originally Posted by ChaoofNee

You did. Worst chain ever.

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Every chain is the worst chain ever. A credit card is not the reason you are living paycheck to paycheck. A paycheck to paycheck job is the reason you are living paycheck to paycheck.

I'm not trying to be a dick about this, btw. I just think people tend to blame credit cards for financial woes rather than the simple fact that they don't make enough money to meet real or perceived expenses.

I mean, I suppose people couldn't overspend, or wouldn't be as easily enticed, without credit cards, but there are also situations where people need more money that they have and they would be forced to go to loansharks or something extreme if they could not get it through legit channels.

I'm late to the party, but I'm standing w/Icarus on this one.

He's right that CC companies love credit cards b/c they are, essentially, crack cocaine for consumers. Are there responsible ppl who pay off the limit each month? Of course. They are (of course) the exception.

This is common sense. Take a look around these boards and look at how much shit and/or consumer crap TNL alone collects, from multiple next-gen systems to hoards of anime, to tons of A/V equipment. Dollars to donuts the majority of this stuff was bought on credit (minus Burg, Yosh, Biff and, of course, Morphix).

A friend worked for a major bank. The credit division w/in this multi-national had a huge (we're talking huge) annual party celebrating the fact that they now had over $1billion (w/a B) in consumer debt amongst their lendees. This was not car and home loans; credit cards only. The VP of the credit division was practically having an orgasm announcing the total. If you don't think CC companies love our spendthrift ways, you're kidding yourself.

On student loans:

One awesome thing about student loans is the low, low interest rates. Beware that some lenders who consolidate your outstanding student loans into one loan (and one payment - easy!) may penalize you for paying off early.

Anyways.

Personally, I'd like to hear what TNL thinks about car loans; I'm looking at getting my first new car after years of driving junkers and I'd like a little input on the pros/cons of:
1. Down payments
2. Buying brand new or a couple years used
3. Loan length (60 mo vs 36)
4. Leasing

Any advice is appreciated.

auto loans are a terrible idea for exactly every reason you cite against credit cards. you should not ever borrow to buy a depreciating asset...at some point you will be paying for a car that no longer has value, and in some cases, that you no longer own.

drive what you can afford. save up and do some research and you can usually come up with a nice used car.