Credit cards should be wildly illegal...

[John Wang]

Brb fancy plastic iou
Brb some places accept certain ones
Brb random percentage because you made "charges"
Brb "cash back" like giving someone a handful of dirt that's in a giant hole
Brb any financial milestone requires one
Brb same apparatus as a pyramid scheme

The longer it take to pay back the more money you owe because again made up word I n t e r e s t
LMFAO how is this legal for God's sake

 

[Oblivian]

It's a great tool that can be used as an indicator to separate the financially responsible from the financially irresponsible.

 

[cartizel]

• I only use credit cards with 0% interest on purchases.
• I only use cc for online transaction, on holiday and at social events for obvious reasons.
• I always payback exactly what I've used the following month
• It apparently good for improving credit rating (which is a bit retarded)

 

[Roca]

why do you keep saying be right back? Where do you keep going so much? Are you on drugs?

 

[Horse Style]

why do you keep saying be right back? Where do you keep going so much? Are you on drugs?

Don't question autistic people. Just pat them on the head, give them half a cookie and send them on their way.

 

[John Wang]

• I only use credit cards with 0% interest on purchases.
• I only use cc for online transaction, on holiday and at social events for obvious reasons.
• I always payback exactly what I've used the following month
• It apparently good for improving credit rating (which is a bit retarded)

The main one I use currently I get 2% cashback on every purchase. I use it for everything from the 20th of the month until the 10th of the next month, then just pay it all off before it's due. Feelsgoodman

 

[Oblivian]

Credit brah checking in btw - I use my card for every purchase unless it's something under $10.

 

[ShoelessRye]

It's a great tool that can be used as an indicator to separate the financially responsible from the financially irresponsible.

It's a scam for this reason. Shouldn't those who don't use them and thus rely on money already earned be considered more responsible than those buying shit they don't need on credit? So somebody who never uses a credit card NEEDS a loan or wants to buy a house and their penalized for never using credit before. So in order to have a good credit score you basically have to pay off the banks via your cc interest rates.

 

[John Wang]

Credit brah checking in btw - I use my card for every purchase unless it's something under $10.

I use a credit card for everything up for a certain amount of the month. Feels pretty dominant.

 

[John Wang]

It's a scam for this reason. Shouldn't those who don't use them and thus rely on money already earned be considered more responsible than those buying shit they don't need on credit? So somebody who never uses a credit card NEEDS a loan or wants to buy a house and their penalized for never using credit before. So in order to have a good credit score you basically have to pay off the banks via your cc interest rates.

OHHHHHHHHHHHHH SHHHHHHHHHHHHH shots fired! Can't wait to see his/her response to this.

 

[Roca]

I use them because I just have to go beep at the cashier and don't have to touch anything

 

[Roca]

It's a scam for this reason. Shouldn't those who don't use them and thus rely on money already earned be considered more responsible than those buying shit they don't need on credit? So somebody who never uses a credit card NEEDS a loan or wants to buy a house and their penalized for never using credit before. So in order to have a good credit score you basically have to pay off the banks via your cc interest rates.

I'm not well-versed in this but I imagine if you've got a 20% down payment, long-term career, healthy investments/retirement portfolio and no outstanding debt you'll have no problem getting a mortgage regardless of credit card usage.

 

[Kiddo716]

am I on 4chan or something?

 

[ssBaldy]

Brb fancy plastic iou
Brb some places accept certain ones
Brb random percentage because you made "charges"
Brb "cash back" like giving someone a handful of dirt that's in a giant hole
Brb any financial milestone requires one
Brb same apparatus as a pyramid scheme

The longer it take to pay back the more money you owe because again made up word I n t e r e s t
LMFAO how is this legal for God's sake

Blame the jews lol

 

[Oblivian]

It's a scam for this reason. Shouldn't those who don't use them and thus rely on money already earned be considered more responsible than those buying shit they don't need on credit? So somebody who never uses a credit card NEEDS a loan or wants to buy a house and their penalized for never using credit before. So in order to have a good credit score you basically have to pay off the banks via your cc interest rates.

You can use credit cards without paying a cent of interest and build your credit. Put yourself in the shoes of a creditor. How do you expect them to lend a large sum of money to someone at a normal income level without proof that they can handle credit and a payment plan? Just because someone hasn't used credit does not mean that they are responsible with their money.

 

[Daverisimo]

Honestly, the only reason I even have one is in case I need to rent a car

 

[sub_thug]

I use a credit card for most purchases because I am a responsible adult with a few jobs. As such, I can afford to buy things that I want or need, build a great credit score, and be set to make major purchases in life at a rate commensurate with my ability to pay back the money that I have been loaned.

That's what credit is. Each purchase is like a "mini-loan." Your score is based on how often and to what extent you pay back your loans in a prompt, responsible manner. When you go to make a large purchase, your loan history is reviewed (ie credit score check), and you are assessed an interest rate based on your history with paying back loans. @Forum Sentinal @Oblivian

 

[Oblivian]

I'm not well-versed in this but I imagine if you've got a 20% down payment, long-term career, healthy investments/retirement portfolio and no outstanding debt you'll have no problem getting a mortgage regardless of credit card usage.

This is definitely true at most local lenders that can do their underwriting in-house. If the credit score is low due to lack of credit, it still may get flagged with underwriters working off a checklist who are not allowed to use their brain.

 

[John Wang]

I use a credit card for most purchases because I am a responsible adult with a few jobs. As such, I can afford to buy things that I want or need, build a great credit score, and be set to make major purchases in life at a rate commensurate with my ability to pay back the money that I have been loaned.

That's what credit is. Each purchase is like a "mini-loan." Your score is based on how often and to what extent you pay back your loans in a prompt, responsible manner. When you go to make a large purchase, your loan history is reviewed (ie credit score check), and you are assessed an interest rate based on your history with paying back loans. @Forum Sentinal @Oblivian

Nice!! Good work

 

[Lone Coyote]

Dude, if you fully pay the CC at the end of the month (pay no interest) and you receive a cash back, you are literally saving money while using cash is dangerous, uncomfortable, doesn't leave a trail, and at the end, you get nothing back