Credit Cards, financial things, etc.

You're in debt today because of a missed paycheck YEARS AGO? I call bullshit.

Quote:

---

Originally Posted by Thief Silver

Negatory, if I pay off lump sums of my student loan before hand, it lowers the accrued interest from each individual payment. If I paid off my entire student loan tomorrow, it'd cost me a lot less than it would over the 10 years or whatever.

---

obviously. but i don't think it matters to what the payment is applied. i mean, if you paid off the balance tomorrow but didn't call them they don't get to go "YOU DIDN'T SAY PRINCIPAL LOL!"

Quote:

---

Originally Posted by Opaque

icarusfall, since you obviously fucked yourself over by using a credit card like a stupid fucking idiot, why don't you just tell us your story so we can lol@u.

---

Basically. It's motivation!

Quote:

---

Originally Posted by Opaque

icarusfall, since you obviously fucked yourself over by using a credit card like a stupid fucking idiot, why don't you just tell us your story so we can lol@u.

---

I've never had a credit card. Have fun thinking you know anything about anything.

Quote:

---

Originally Posted by Josh

But then you don't have a high credit score so you can't get more credit so you can get a higher credit score and win the prize or whatever the fuck.

---

The prize is less money out of my pocket towards a mortgage/car loan.

Good enough prize for me.

These guys are right:

Quote:

---

Originally Posted by Rich

God we've had this conversation so many times between so many threads between biff, Ryan, and myself.

Credit cards are great if you're not stupid about them. If you're paying your bill in full every month, then you're getting interest free 4-8 week loans on your balance every month. Constantly using your credit card, paying on time every time, and using only a small percentage of your credit limit also increases your credit score which will be huge when you apply for big loans and mortgages and you get preferred rates.

Really, credit cards are awesome. Just don't be an idiot.

---

These guys are not:

Quote:

---

Originally Posted by Type Ryan

better yet, if you can avoid using your credit card, don't use it. Don't get me wrong, having some debt and showing your ability to meet your financial obligations is a good thing, but credit cards are evil if you don't watch your spending and live beyond your means (I did a few years ago and I'm still paying for it).

Everyone thinks they're a celebrity and gets into unnecessary debt. Live within your means and you'll be alright. I'm young, but i've got older family members who are financially well-off becuase they followed this is simple little rule.

---

Quote:

---

Originally Posted by icarusfall

Credit cards are a scam. Eventually you will need to use more than you're able to pay and will be in debt to them forever.

---

Everyone should have a credit card that gives rewards that they charge everything to every month and then pay off in full.

Quote:

---

Originally Posted by ChaoofNee

my next paycheck from the glorious 'Shack.

---

i think i identified the problem here

All I know is, we're in a recession and the subprime crisis will spill into other types of loans (car & student), so if you ever need a loan for anything, you'll need a good credit rating.

You never want to max out a card. I believe they say you should be about about 65% of the total limit. Making just the minimum payment ensures you pay more in interest over the life of the debt, so if you can pay all or most of the balance, do it. Only keep 1-2 cards. I only use my debit card and my Capital One card (Capital One only used in emergencies). My AMEX, Chase, WaMu, and Citi cards are all in hiding and will never be used again once I pay off those balances.

Quote:

---

Originally Posted by Yoshi

Everyone should have a credit card that gives rewards that they charge everything to every month and then pay off in full.

---

Everyone should have a fleet of blowjob machines too! And candy for every meal!

Quote:

---

Originally Posted by icarusfall

I've never had a credit card. Have fun thinking you know anything about anything.

---

so what you're saying is that you really know nothing about this topic.