Re: Credit cards ?
[Re: Wolfdog91]
#7009388
10/05/20 12:43 PM
10/05/20 12:43 PM
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Joined: Jan 2016
Posts: 1,514 Louisiana
AirportTrapper
trapper
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trapper
Joined: Jan 2016
Posts: 1,514
Louisiana
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The only thing credit is good for, is more debt. Debt = payments. I prefer my money going into my account rather than a bankers.
If it makes a track on this earth , I can catch it.
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Re: Credit cards ?
[Re: Gary Benson]
#7009447
10/05/20 01:58 PM
10/05/20 01:58 PM
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Joined: Jan 2007
Posts: 16,704 north Idaho
wissmiss
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trapper
Joined: Jan 2007
Posts: 16,704
north Idaho
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Credit cards are nice if you need to reserve a motel room. And when you check into the motel/hotel, they want a credit card on file. Even if you are paying cash. Try rent a car at an airport without a credit card.
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Re: Credit cards ?
[Re: Wolfdog91]
#7010090
10/06/20 05:31 AM
10/06/20 05:31 AM
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Joined: Dec 2006
Posts: 29,912 williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,912
williamsburg ks
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People who dont like credit cards dont have the self discipline to pay the bill IN FULL every month. If you cant pay IN FULL dont buy with a credit card. The interest is ridiculous and is a trap. Let the undisciplined make the banks profit while you just use their services.
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: Credit cards ?
[Re: AirportTrapper]
#7010133
10/06/20 06:56 AM
10/06/20 06:56 AM
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Joined: Oct 2011
Posts: 2,963 Central Ontario, Canada
Crit-R-Dun
trapper
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trapper
Joined: Oct 2011
Posts: 2,963
Central Ontario, Canada
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The only thing credit is good for, is more debt. Debt = payments. I prefer my money going into my account rather than a bankers.
I don't disagree that you have to be careful about what you acquire credit for. Borrow for what you need not what you want. A young person with the means to buy a home shouldn't let a mortgage discourage them. Money is dirt cheap these years and the growth in equity in a home almost 100% of the time is undeniable. Borrow if you need to, to buy a vehicle as a means of transportation to get to work. Those are necessities. If you need to borrow money for a huge TV, 4 wheeler, vacation then you can't afford those things yet. Credit cards are a no brainer......paying them off monthly is a must. Only buy something with a credit card if you could otherwise buy it cash if you wanted to.
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Re: Credit cards ?
[Re: Wolfdog91]
#7010178
10/06/20 07:58 AM
10/06/20 07:58 AM
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Joined: Aug 2010
Posts: 682 Southern Wisconsin
Fishdog One
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trapper
Joined: Aug 2010
Posts: 682
Southern Wisconsin
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I had different credit cards that I only used for a major purchase, like washer, dryer, then paid in full each month. Back in the 90's I got a Cabela's card and told my wife to spend money on it because I would get free hunting stuff. The first bill came for like $1500 and her response was you told me to spend on it. Last decade or so we never used much cash, always about $1500 a month on cards, almost all our purchases, getting 3% back on Bank America online purchases, 4% back on gas with PNC bank card, still 1% on Cabela's. Every one has been paid in full each month but I probably could not get a car loan, have had a freeze on my credit reporting agency's for 15 years after some unauthorized card use. Has not been a problem not using credit, even for the truck I bought 4 years old, paid cash, not that hard to save up the money if you never pay interest. Paid my house off in 12 years, split off a lake lot and did that.
Born twice, die once
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Re: Credit cards ?
[Re: Crit-R-Dun]
#7010223
10/06/20 09:08 AM
10/06/20 09:08 AM
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Joined: Dec 2006
Posts: 17,684 Rodney,Ohio
SNIPERBBB
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trapper
Joined: Dec 2006
Posts: 17,684
Rodney,Ohio
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The only thing credit is good for, is more debt. Debt = payments. I prefer my money going into my account rather than a bankers.
Only buy something with a credit card if you could otherwise buy it cash if you wanted to. That's the trap with the credit cards. For every person that pays it off every month, there's 10 more trying to pay off last year's Christmas. CC companies make nearly as much off transaction fees as they do off interest.
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Re: Credit cards ?
[Re: Crit-R-Dun]
#7082233
12/10/20 05:32 AM
12/10/20 05:32 AM
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Joined: Jan 2016
Posts: 1,514 Louisiana
AirportTrapper
trapper
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trapper
Joined: Jan 2016
Posts: 1,514
Louisiana
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The only thing credit is good for, is more debt. Debt = payments. I prefer my money going into my account rather than a bankers.
I don't disagree that you have to be careful about what you acquire credit for. Borrow for what you need not what you want. A young person with the means to buy a home shouldn't let a mortgage discourage them. Money is dirt cheap these years and the growth in equity in a home almost 100% of the time is undeniable. Borrow if you need to, to buy a vehicle as a means of transportation to get to work. Those are necessities. If you need to borrow money for a huge TV, 4 wheeler, vacation then you can't afford those things yet. Credit cards are a no brainer......paying them off monthly is a must. Only buy something with a credit card if you could otherwise buy it cash if you wanted to. With manual underwriting, there is no need for credit to get a mortgage.
If it makes a track on this earth , I can catch it.
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Re: Credit cards ?
[Re: Wolfdog91]
#7082249
12/10/20 06:37 AM
12/10/20 06:37 AM
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Joined: Dec 2006
Posts: 4,949 PA
elkaholic
trapper
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trapper
Joined: Dec 2006
Posts: 4,949
PA
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Mine is used sparingly. But it used at least once a month, and paid off every month. I usually put a normal charge that I'm going to have pay every month anyway. Netflix, Cell phone, gym membership, or even car insurance. That way I already am putting the money away once a month for those bills, I just now make the check out to my CC company.
My CC has no annual fees and I get cash back on certain amounts. My interest rate is pretty high, but I pay it off every month so I don't have to worry about paying interest rates.
Millions of trees die every year to print environmentalist publications
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Re: Credit cards ?
[Re: wissmiss]
#7082287
12/10/20 07:49 AM
12/10/20 07:49 AM
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Joined: Dec 2006
Posts: 63,205 Minnesota
330-Trapper
trapper
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trapper
Joined: Dec 2006
Posts: 63,205
Minnesota
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What ever card you get, use it regularly even if it is just for small purchases and pay it in full every month. If you can, pay it well before the due date.
Those 2 things will help you build credit. Yes, Otherwise it will work against you.
NRA and NTA Life Member www.BackroadsRevised@etsy.com
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Re: Credit cards ?
[Re: danny clifton]
#7082308
12/10/20 08:10 AM
12/10/20 08:10 AM
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Joined: Oct 2020
Posts: 1,103 KY
ILcooner
trapper
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trapper
Joined: Oct 2020
Posts: 1,103
KY
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perhaps. Average person falls in this trap though-averga CC debt is now $5700. I am debt free. Studies show a person does spend more when paying with a credit card though https://www.valuepenguin.com/average-credit-card-debt#:~:text=The%20mean%20credit%20card%20debt,by%20the%20U.S.%20Federal%20Reserve. People who dont like credit cards dont have the self discipline to pay the bill IN FULL every month. If you cant pay IN FULL dont buy with a credit card. The interest is ridiculous and is a trap. Let the undisciplined make the banks profit while you just use their services.
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Re: Credit cards ?
[Re: Wolfdog91]
#7082387
12/10/20 09:42 AM
12/10/20 09:42 AM
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Joined: May 2013
Posts: 5,114 Northern Michigan
J.Morse
trapper
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trapper
Joined: May 2013
Posts: 5,114
Northern Michigan
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Wolfie, the whole trick to these CC things is the habit of paying it OFF IN FULL each month!!!! Never pay a nickel in interest, and do NOT borrow their money by buying crap you don't need with them. If you use them wisely you can actually make money using them. I'm speaking of the "points" they offer. My Bride, before I retired, used to chew me out for not using our CC for my purchases. I always had loot in my wallet from customers stopping to pay off their taxidermy bills. Since retirement I have learned to use the darn things for even the coffee and snack type stops at the store.......those points build up and she uses them to buy stuff, saving us money as she does it. She is way smarter than me. If you can't stop yourself from charging crap on impulse then DO NOT GET A CREDIT CARD. It really is that simple.
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Re: Credit cards ?
[Re: Wolfdog91]
#7083145
12/10/20 06:54 PM
12/10/20 06:54 PM
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Joined: Jan 2016
Posts: 1,514 Louisiana
AirportTrapper
trapper
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trapper
Joined: Jan 2016
Posts: 1,514
Louisiana
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I have yet to hear someone making money with these rewards.... most people are spending more than they normally would on them. The return is small it just doesn't make financial sense when you get better returns on other investments.
If it makes a track on this earth , I can catch it.
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Re: Credit cards ?
[Re: newhouse114]
#7083149
12/10/20 06:55 PM
12/10/20 06:55 PM
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Joined: Dec 2006
Posts: 42,112 Northern Maine
Bruce T
trapper
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trapper
Joined: Dec 2006
Posts: 42,112
Northern Maine
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The cabelas card by capital one is a good place to start. Build points towards purchases. I like mine.
Nevada bound
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Re: Credit cards ?
[Re: wissmiss]
#7083174
12/10/20 07:08 PM
12/10/20 07:08 PM
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Joined: Nov 2012
Posts: 1,090 midland, michigan
midlander
trapper
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trapper
Joined: Nov 2012
Posts: 1,090
midland, michigan
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Credit cards are nice if you need to reserve a motel room. And when you check into the motel/hotel, they want a credit card on file. Even if you are paying cash. Try rent a car at an airport without a credit card. Theyll take a debit card or prepaid card just the same now. Credit card not required.
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