Credit Cards

audiodave wrote:

I'll probably get one once i'm earning just to build up my credit rating. I've never been one for buying things I can't afford. The only time i've ever done that is where PJ is concerned. I hope they don't announce a tour the day after I get a credit card.

wouldn't it be more beneficial to get a loan... invest it in a high interest savings scheme... and pay THAT off weekly/monthly? If you want to get one simply to build up credit rating.

Heineken Helen wrote:

wouldn't it be more beneficial to get a loan... invest it in a high interest savings scheme... and pay THAT off weekly/monthly? If you want to get one simply to build up credit rating.

Well it isn't something that i've really thought about as i've never needed to. But if I sell my soul and get a graduate job, then i'll most likely be payed monthly and will have need of a credit card to buy anything.

audiodave wrote:

Well it isn't something that i've really thought about as i've never needed to. But if I sell my soul and get a graduate job, then i'll most likely be payed monthly and will have need of a credit card to buy anything.

But then you're spending outside of your means... why pay things BEFORE you get paid and use your wages to pay what you paid for LAST month? If you can start the other way around it's much better.

Heineken Helen wrote:

But then you're spending outside of your means... why pay things BEFORE you get paid and use your wages to pay what you paid for LAST month? If you can start the other way around it's much better.

:rolleyes:

Sorry mum.

Like I said, it's not something i've thought a lot about. But when I have a reason to think about it, I will look at all the options before I make a decision, as that's how I do things.

Heineken Helen wrote:

Look, I'm not a fucking financial advisor anyway... but I hate hate hate credit cards with a passion so if you can at all cope without one, don't get one

It's okay if you are not responsible enough to handle one, lots of people aren't. But if you are wise enough, and disciplined enough to use them, they can and do work to your advantage.

Indian Summer wrote:

It's okay if you are not responsible enough to handle one, lots of people aren't. But if you are wise enough, and disciplined enough to use them, they can and do work to your advantage.

If you're wise and disciplined enough... you wouldn't be taking advice from here anyway. I'm talking to people like Dave (who probably would be able to cope with one... but I mean those coming out of college and just getting their first step into the financial world of responsibilities and bullshit) who can cope without one, never learned to depend on one... why get one?

Heineken Helen wrote:

If you're wise and disciplined enough... you wouldn't be taking advice from here anyway. I'm talking to people like Dave (who probably would be able to cope with one... but I mean those coming out of college and just getting their first step into the financial world of responsibilities and bullshit) who can cope without one, never learned to depend on one... why get one?

I'm not taking advice, I'm giving it. I've had two for years, and I'm pretty much a financial genius. Don't hate on them because you don't like them.

Heineken Helen wrote:

I'm talking to people like Dave (who probably would be able to cope with one... but I mean those coming out of college and just getting their first step into the financial world of responsibilities and bullshit) who can cope without one, never learned to depend on one... why get one?

I have some financial responsibilites, and I have had for a few years. But i'm not naive enough to think I have very much. Anyway...I don't think I would get into a situation where I depended on credit cards. I can't say for sure that I wouldn't, but I know myself, and I don't really spend much money and I don't try to live outside my means. The point was that you can use them to your advantage. Granted, many many people use them to their vast disadvantage, but like people have said, it works both ways.

Indian Summer wrote:

I don't like Heineken beer, but I'm not gonna tell everyone that it sucks. If they want to drink it, that's fine.

If they like it, yeh, that's cool... but if they've never tried heineken before and were asking my advice I'd strongly recommend that they don't bother... and I'd urge them to try some good Belgian beer instead. That's what friends do . I wouldn't say 'well I don't like heineken but you may have different taste buds so go ahead'

Housing Jim wrote:

I've had a credit card for about ten years now....just the one and I pay off the entire balance every month, no matter how much it is. I know that I'm fortunate to be able to do that.

I think they're necessary for buying stuff online. When you;re using a credit card it usually comes with some kind of protection attached. I'm alwasy wary about using debit cards online....if anyone gets hold of that info then you're pretty much screwed.

Unfortunately banks are literally trying to throw money at people these days and I know folk who are in serious trouble with debt now because of credit cards etc.

They;re great, as long as they're used sensibly.

I agree...I use 'em for Internet stuff and pay it off each month. I've seen my sister rack up loads of debt in the past on credit cards, so much so that she's got no money for anything else, except minimum payments, it took her years to get out of it and she only did that by cutting them up.

Your right about the banks/CC companies too, and they target young people just starting to earn who look upon a card as 'free money'. My friends son was maxing out one card then getting another until the end he had so many he couldn't get out of debt, couldn't get any more cards and couldn't get a loan himself to help pay them off - in the end my friend had to get a loan in her name to pay off his debts! Surely if you max out one or two cards its clear that you've got enough debt and don't need another card!!! But long as they're getting the interest they don't care.... just my two peneth