Credit Cards!

[marill999]

Posts deleted due to referral links.

AnandTech Moderator

 

[DorkBoy]

Do yourselves a favore, if you need a credit card you probably can't afford it or you should live within your means.

 

[badluck]

Do yourselves a favore, if you need a credit card you probably can't afford it or you should live within your means.

Dood, get a clue.....how do you buy items on the internet???? Try to open your mind b4 you post.....

 

[kindest]

is this a referral?

 

[DavemanUT]

Originally posted by: badluck

Do yourselves a favore, if you need a credit card you probably can't afford it or you should live within your means.

Dood, get a clue.....how do you buy items on the internet???? Try to open your mind b4 you post.....

He's right. Credit cards are bad. To purchase on the internet, use a Visa Debit Card (aka check card). Works like a charm, and you aren't getting bent over by 24% interest rates.

D.C.

 

[badluck]

He's right. Credit cards are bad. To purchase on the internet, use a Visa Debit Card (aka check card). Works like a charm, and you aren't getting bent over by 24% interest rates.

Try to get your money back when you get scammed using a debit card. Or, if somebody gets ahold of your debit card information and makes purchases on-line, it will be your bank account that will be tied up until it is figured out. You have VERY LITTLE protection and most people don't get any money back in these cases. You should never use a debit card to purchase on the net. Use the credit card to purchase, then pay b4 your billing cycle so you do not have to pay any interest.

 

[ddjkdg]

If you can pay off your balances get a credit card. A check card/debit card is simply foolish, because you have basically no protection if your number is compromised and someone starts charging pr0n on it. You must already have terrible credit if you have a 24% interest rate and that's no one's fault but your own. Anyone with a brain will only charge what they can afford and will pay it off every month.

 

[kaizersozei]

If you can pay off your balances get a credit card. A check card/debit card is simply foolish, because you have basically no protection if your number is compromised and someone starts charging pr0n on it. You must already have terrible credit if you have a 24% interest rate and that's no one's fault but your own. Anyone with a brain will only charge what they can afford and will pay it off every month.

Bravo!

Also, since most credit card companies require you to pay within 3 weeks, you can earn the float on the 3 weeks. I know you don't save a lot, but after a while it adds up.

 

[AbsolutPower]

Also, with a credit card, you don't have to pay your bill for about a month after purchases (without any finance charges). That means your money stays in your bank account for that much longer, accruing interest (albeit very little interest).

 

[Kaervak]

Originally posted by: kindest
is this a referral?

After checking the links, yep.

 

[BigEdMuustaffa]

I agree, I use credit cards exclusively every chance I get, no minimum, to get the float. Money Management. Oh and here's a tip, it's in the merchant's contract, that if they accept a certain credit card, they must accept it for any amount. Minimums are not enforceable. If the merchant says sorry you have to spend a minimum amount to use your credit card, remind them of the contract they signed. Call the CC company if you have to. If a merchant still refuses, I don't shop there and tell them to "restock" the stuff I brought to the counter. If it's a restaurant, I tell them that's all I have.

 

[Kiyi]

Um, I know a check card that has the same benefits as the Old American Express Blue Card but its a secret...JK. Bank of America Advantage Checking has a Platinum Check card that is simply nice Plus Free Security Deposit Box and lots of other goodies. Its 17 dollars per month for balances under 5K, but its well worth it.

 

[DavemanUT]

Allright guys, I'm not goin to get into a war about whether or not credit cards are wrong, but I will say that you are. I had a Bank of America check card. Someone got the number and bought a few things. I called em, and they credited the money THAT DAY! They cancelled my card, and I had a new one within about 3 days.

Also, my credit is fine. I've never had a credit card, nor do I intend to. I'm in college, have perfect credit, and just bought a house. Take your flaming somewhere else.

If you think credit cards are allright, think again. Even if you pay your balance off EVERY MONTH (stats show that most don't at some time or another), there are still other problems. Since you are paying with a credit card, as opposed to cash, there is no mental recognition of money being spent, so you spend more. Now if you are making $500,000 a year, then I guess it's OK to splurge a little. However, I doubt many people bringing in half-a-mil. are surfin the hot deals forum.

Credit ruins peoples lives. Look around. Everyone is in debt. It's become "normal" to be in debt. Bankruptcys are at an all time high. I'm going to give the credit for my rant to www.daveramsey.com. He makes you look at personal finance different than anyone else, and I'll be a multimillionaire because of him (among others).

D.C.

 

[RossMAN]

Originally posted by: badluck

He's right. Credit cards are bad. To purchase on the internet, use a Visa Debit Card (aka check card). Works like a charm, and you aren't getting bent over by 24% interest rates.

Try to get your money back when you get scammed using a debit card. Or, if somebody gets ahold of your debit card information and makes purchases on-line, it will be your bank account that will be tied up until it is figured out. You have VERY LITTLE protection and most people don't get any money back in these cases. You should never use a debit card to purchase on the net. Use the credit card to purchase, then pay b4 your billing cycle so you do not have to pay any interest.

Excellent advice, never ever ever use your debit/check card on the internet.

 

[Kaervak]

Originally posted by: DavemanUT
Allright guys, I'm not goin to get into a war about whether or not credit cards are wrong, but I will say that you are. I had a Bank of America check card. Someone got the number and bought a few things. I called em, and they credited the money THAT DAY! They cancelled my card, and I had a new one within about 3 days.

Also, my credit is fine. I've never had a credit card, nor do I intend to. I'm in college, have perfect credit, and just bought a house. Take your flaming somewhere else.

If you think credit cards are allright, think again. Even if you pay your balance off EVERY MONTH (stats show that most don't at some time or another), there are still other problems. Since you are paying with a credit card, as opposed to cash, there is no mental recognition of money being spent, so you spend more. Now if you are making $500,000 a year, then I guess it's OK to splurge a little. However, I doubt many people bringing in half-a-mil. are surfin the hot deals forum.

Credit ruins peoples lives. Look around. Everyone is in debt. It's become "normal" to be in debt. Bankruptcys are at an all time high. I'm going to give the credit for my rant to www.daveramsey.com. He makes you look at personal finance different than anyone else, and I'll be a multimillionaire because of him (among others).

D.C.

Not everyone is like that. I've had at one time seven cards. Used at a maximum three of them. Always paid my balances and always kept what I spent to a minumum. If I can't pay the balance off in full, then I don't charge it. Out of the four cards I have now, I use only one. Pay the balance in full every month when I have one. Been doing it this way for two years.

 

[Kiyi]

There are Debit Cards with Protection exactly like credit cards.

 

[kaiotes]

Originally posted by: DavemanUT
Allright guys, I'm not goin to get into a war about whether or not credit cards are wrong, but I will say that you are. I had a Bank of America check card. Someone got the number and bought a few things. I called em, and they credited the money THAT DAY! They cancelled my card, and I had a new one within about 3 days.

Also, my credit is fine. I've never had a credit card, nor do I intend to. I'm in college, have perfect credit, and just bought a house. Take your flaming somewhere else.

If you think credit cards are allright, think again. Even if you pay your balance off EVERY MONTH (stats show that most don't at some time or another), there are still other problems. Since you are paying with a credit card, as opposed to cash, there is no mental recognition of money being spent, so you spend more. Now if you are making $500,000 a year, then I guess it's OK to splurge a little. However, I doubt many people bringing in half-a-mil. are surfin the hot deals forum.

Credit ruins peoples lives. Look around. Everyone is in debt. It's become "normal" to be in debt. Bankruptcys are at an all time high. I'm going to give the credit for my rant to www.daveramsey.com. He makes you look at personal finance different than anyone else, and I'll be a multimillionaire because of him (among others).

D.C.

i'm also in college, have had credit card since 18
never one late fee, never one penny finance fee except the special 1% or whatever deals.
i know what i am do'n, CC are bad for ppl who can't control their spending, i love CC, i always use CC to buy stuff, max i carry in my wallet is $30, i use it as often as i can.
go apply for cards, take advantage of the 0% or rewards

 

[DavemanUT]

i'm also in college, have had credit card since 18
never one late fee, never one penny finance fee except the special 1% or whatever deals.
i know what i am do'n, CC are bad for ppl who can't control their spending, i love CC, i always use CC to buy stuff, max i carry in my wallet is $30, i use it as often as i can.
go apply for cards, take advantage of the 0% or rewards

Then why don't you just use a debit card?

D.C.

 

[fitzm]

Your protection is basically the same if you use adebit or credit card and are defrauded. You know... you eat the first $50 usually(if reported in the required time).

El linko

 

[ddjkdg]

Originally posted by: DavemanUT

i'm also in college, have had credit card since 18
never one late fee, never one penny finance fee except the special 1% or whatever deals.
i know what i am do'n, CC are bad for ppl who can't control their spending, i love CC, i always use CC to buy stuff, max i carry in my wallet is $30, i use it as often as i can.
go apply for cards, take advantage of the 0% or rewards

Then why don't you just use a debit card?

D.C.

Your debit card may have protection against theft but that is the exception, not the rule. People use credit cards for more than just buying things. A lot of people get perks such as frequent flyer miles, free magazines, cashback, whatever. It may be a pittance but it's more than they'd get for using their debit cards, and if they pay all of their balances in time so they don't incur interest then more power to them.

 

[Crank]

Whoa, DavemanUT, you should change your name to THE MAN, only in college, never used any credit cards, and just bought a house - all with cash, I'm assuming, since you're so deathly afraid of debt.
Please tell us, how'd you save enough dough to buy that house without borrowing a cent?? Your mattress must've been pretty lumpy for a lot of years with all those bills under it.

If you think credit cards are allright, think again. Even if you pay your balance off EVERY MONTH (stats show that most don't at some time or another), there are still other problems. Since you are paying with a credit card, as opposed to cash, there is no mental recognition of money being spent, so you spend more. Now if you are making $500,000 a year, then I guess it's OK to splurge a little. However, I doubt many people bringing in half-a-mil. are surfin the hot deals forum.

See, it's people like you who refuse to place blame where it belongs. If you don't have a 'mental recognition' of money being spent, then you are an idiot.

Credit ruins peoples lives. Look around. Everyone is in debt. It's become "normal" to be in debt. Bankruptcys are at an all time high

Credit doesn't ruin people's lives, People ruin they're own lives. It's like saying car's go too fast, people aren't smart enough not to speed, so we'd better not use cars.

/end rant.

 

[scoreadeal]

Credit cards don't kill people, people kill people.

Never use your check card online, it's just not smart... Credit cards will protect you, some will have a $50 amount that you may have to meet in (this is the Visa standard) unless you get a good card where they cover all the fraud charges.

Getting a credit card is a must for building a credit history. If you ever plan on getting bigger ticket items like a car or house, you have to start somewhere and build a history.

Plus, if you pay off your balances each month, you can do pretty good on the free rewards/points programs.

 

[ddjkdg]

DavemanUT: Read this article.

 

[ingenue007]

Originally posted by: Crank
Whoa, DavemanUT, you should change your name to THE MAN, only in college, never used any credit cards, and just bought a house - all with cash, I'm assuming, since you're so deathly afraid of debt.
Please tell us, how'd you save enough dough to buy that house without borrowing a cent?? Your mattress must've been pretty lumpy for a lot of years with all those bills under it.

maybe daddy is paying for the house...

 

[Madcowz]

What do you think my chances are of getting the Chase Stockback Mastercard? I'm 19 and have held an American Express Blue for Students for 7 months now (don't know if my credit has been really established yet). Should I even bother applying?