I mean, I can easily pay it off as it's only several hundred dollars, but that's just annoying, you know? Every month I see my statement dip and then spike.
Irks me.
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"A special effect without a story is a pretty boring thing." - George Lucas
I don't understand credit cards. If you have the money to buy something, debit cards are more convenient, and if you need to borrow the money, the interest rates for credit cards are such that you're dramatically better off borrowing from practically any other source.
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"Abstainer, n. A weak person who yields to the temptation of denying himself a pleasure."
Well, I guess credit cards are a good way to borrow if you're certain you'll have the money within a few weeks, before you get your monthly bill, but… is that very common?
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"Abstainer, n. A weak person who yields to the temptation of denying himself a pleasure."
It's very common for people to think that they'll pay in full and never incur interest, and some people do it successfully some of the time, in which case, it's like free money. But if you're living THAT paycheck-to-paycheck that you can't wait a couple weeks to buy something... then something is wrong!
daveramsey.com this guy's course called Financial Peace University taught me everything I needed to know and more
My debit card was linked to my iTunes account when it got hacked, and it took about a month to get my money back. If it had been a credit card, it might have been easier to report fraudulent charges. Also, I don't know how else to build my credit score.
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CSBE FTW!
DarthMarth - Better than a bowl of Cheerios.
You can't overdraft with a credit card, and also I get rewards from using my card.
Also, by spending and then paying on time you can build good credit.
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Willis, it seems like every other time you post, I need to look up a word that's in the OED or Urban Dictionary but not both.
-Mimir
Yeah... that's basically it. I buy almost exclusively on credit, and have, for the last four or so years- and pay it off within a few days. If you're irresponsible with a credit card, get rid of it, but most people shouldn't have that problem. Otherwise, you'll just build good credit. Rare to come by these days, I bet.
It's a big help that my banking is online, so it's practically instantaneous. Most of our generation probably are also online bankers.
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I didn't know you could increase your credit score just by paying off your credit-card bill. Good to know.
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"Abstainer, n. A weak person who yields to the temptation of denying himself a pleasure."
Well apparently they won't release the algorithm, but "making payments on time" is the big part of it, and it's whatever payment.
Ed: This is based on some money.msn.com articles from probably two years ago. I am not nor do I claim to be an expert on any matters financial.
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Willis, it seems like every other time you post, I need to look up a word that's in the OED or Urban Dictionary but not both.
-Mimir
Everyone here basically hit it on it's head.
I have money and make I good enough money, but a credit score is something you can't just "make". So I've made it a point to charge UP TO $500/month on my credit card and then just pay it off on the 5th of every month (essentially when the bank tells me it's due). That way I'm building good credit by making payments within 48 hours after they post and, hey, it's kind of like free money early in the month. But like I said, it's just irritating because of the way my company does payroll. It's almost ALWAYS like a day before one of my bi-monthly paychecks.
On a side but related note, direct deposit kicks ass.
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"A special effect without a story is a pretty boring thing." - George Lucas
Direct withdrawal is pretty nice, too (as long as you trust who is withdrawing! Specifically, my federal student loans)
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Semi-monthly :eng101:
Unless your job is terrible or you're an ice road trucker or whatever.
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Willis, it seems like every other time you post, I need to look up a word that's in the OED or Urban Dictionary but not both.
-Mimir
Au contraire, Wil, bimonthly can mean both every two months and twice a month.
http://www.merriam-webster.com/dictionary/bimonthly
And yeah, I started using my credit card for the same reasons: to build a better credit score, and to get 1% cash back.
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"To truly live, one must first be born." ~ Evan [aX]
Paper Mario Social: The Safe Haven of GameFAQs. (Board 2000083)
Oh, only because of lexical drift and let's not get into that one again!
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Willis, it seems like every other time you post, I need to look up a word that's in the OED or Urban Dictionary but not both.
-Mimir
I used to be deathly afraid of credit cards until I realized I wasn't financially irresponsible. I use it for pretty much anything I can get away with but never spend more money than I actually have- typically groceries, gas, etc., and then pay it back as soon as I can. My dad was the one who started encouraging me to do this, and while I don't have an awesome benefits plan or anything like that, it's really the only way I've been able to build credit.
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http://img.photobucket.com/albums/v129/ukealii50/kylo.jpg - Thanks uke!
http://img193.imageshack.us/img193/829/07kyloforce.png - Thanks Diyosa!
Mine is great for the following reason:
1% cash back on all purchases
2% cash back on grocery and gas purchases
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"A special effect without a story is a pretty boring thing." - George Lucas
I got an American Express card in the mail once. My mom shredded it...
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Well, there is a new accent of n00b language. It's called: Vet LUEser goes Foreign!-MegaSpy22
Those must be the pants of the gods!-Digitalpython
And getting paid is AWESOME!!!
So nice to know that I'm making hundreds of dollars more per pay period than at my last job.
Career FTW.
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"A special effect without a story is a pretty boring thing." - George Lucas