Credit Card

Tousi said:
Yeah, some of us are real wannabe grammar nazis and that ain't always bad, lol.....
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Oh, I normally would never correct spelling here. I was trying to be a little funny about the "debt" part with the topic being "credit cards", that's all. :)
 
Like some others have said ... I don't use credit cards anymore its a trap ... easy to run up alot for a bunch of small things and not realize it ... if I don't have the cash or enough money in the bank for something I don't get it ... and have a Visa check card/debit card through my bank that I use when a card is needed ... but when ordering something online I usually opt to use paypal if possible over my check card...
 
Yeah, I hope college kids are smart enough not to fall for credit card ads. They aim toward college kids and try to get them sign up. Few months or few years later, these college kids will fall in to lot of debt to pay off.

yeah I mean debit card. :P

I know credit card let you "buy now and pay later" but in the end, you will pay for it in due time. If not, cost you even more next month. I am not good at catch up the dues, you see. So, I'd rather to get debit card.
 
JoeyDeafNinja said:
Yeah, I hope college kids are smart enough not to fall for credit card ads. They aim toward college kids and try to get them sign up. Few months or few years later, these college kids will fall in to lot of debt to pay off.

yeah I mean debit card. :P

I know credit card let you "buy now and pay later" but in the end, you will pay for it in due time. If not, cost you even more next month. I am not good at catch up the dues, you see. So, I'd rather to get debit card.
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The credit card is necessary to build the credit so you can buy car or house in near future.

Just don't overspend with credit card - need spend $50 so pay $50 back in next bill.
 
Tousi said:
Yeah, some of us are real wannabe grammar nazis and that ain't always bad, lol.....
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I normally don't correct spelling unless the meaning (and in this case, money) is at stake. :giggle:
 
Foxrac said:
The credit card is necessary to build the credit so you can buy car or house in near future.
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For a house, yes. For a car, no. One can save up cash for a starter car, and then trade up later. I bought my first car for cash ($850). It's not easy but it's possible.

For young people, the house may be in the far future, not the near future.
 
Reba said:
For a house, yes. For a car, no. One can save up cash for a starter car, and then trade up later. I bought my first car for cash ($850). It's not easy but it's possible.

For young people, the house may be in the far future, not the near future.
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I rather to have a recent car with monthly payment and don't want spend over thousand dollars on car repair/work for old car. I have less than 4 years to left on auto payment.

Many parents buy a car with auto payment for young teens today and there are co-signers if you have no credit or lack of income.

House in far future? That's not true for my mother because she bought a first house in 1985 (she was 25 years old) but sold in 2 years later before I was born. There are some young people own house.

The credit card is good for emergency.
 
More and more young people are buying houses today. Our niece, who is only 20, just bought her first house. Building up credit early is important.
 
AlleyCat said:
More and more young people are buying houses today. Our niece, who is only 20, just bought her first house. Building up credit early is important.
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Yes, I agree with you.

I could buy a house in my area since house market is cheap but I decided not to buy because I will relocate to other state after finish with college.
 
taurizs said:
Which credit card in your wallet/purse do you use all time? Visa? MasterCard? American Express? Discover?
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I have a Bank of America Mastercard "Rewards" which I use for my commute expenses, and a Mastercard with Capital One Platinum which I use for my entertainment purchases since it has no foreign transaction fee. I used to also have a Discover card but it charged for foreign trasactions and had a higher interest rate so I discontinued with them.

Laura
 
Reba said:
I don't use a credit card. I use a debit card only.
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A debit card takes the money direct out of your savings. You aren't worried someone could get that number and empty your bank account? At least with my credit card, my savings are safe.
 
Foxrac said:
I rather to have a recent car with monthly payment and don't want spend over thousand dollars on car repair/work for old car. I have less than 4 years to left on auto payment.
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That's up to you. I didn't have to pay a thousand dollars on any repairs. It was a simple VW bug convertible, standard shift, no extras.

Many parents buy a car with auto payment for young teens today and there are co-signers if you have no credit or lack of income.
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Lucky them, I guess. I didn't get any help from parents.

Co-signing is a very, very bad idea for anyone. I would never recommend that. It's a great way to destroy relationships.

House in far future? That's not true for my mother because she bought a first house in 1985 (she was 25 years old) but sold in 2 years later before I was born. There are some young people own house.
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I thought we were talking about today's young people buying houses? Also, young people today have expectations for their starter homes that are way above what my generation expected to buy.

Yes, TCS and I bought our first house in 1978 when we were still in our 20's and it was very small and basic (but we were very happy with it). Over the years, we did our own upgrades on it until we sold it.

How long do you think it takes to save up for a down payment on a house today?

The credit card is good for emergency.
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Maybe. If it's a real emergency.
 
Lau2046 said:
A debit card takes the money direct out of your savings. You aren't worried someone could get that number and empty your bank account? At least with my credit card, my savings are safe.
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Anything's possible.

A crook won't get too far on my account. :lol:

(TCS and I keep more than one account in different banks, so it spreads the risk.)
 
Reba said:
Anything's possible.

A crook won't get too far on my account. :lol:

(TCS and I keep more than one account in different banks, so it spreads the risk.)
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I'll stick with the credit cards, they're easier to control and offer better protection...but then I'm debt free. A rarity today....
 
Reba said:
That's up to you. I didn't have to pay a thousand dollars on any repairs. It was a simple VW bug convertible, standard shift, no extras.


Lucky them, I guess. I didn't get any help from parents.

Co-signing is a very, very bad idea for anyone. I would never recommend that. It's a great way to destroy relationships.


I thought we were talking about today's young people buying houses? Also, young people today have expectations for their starter homes that are way above what my generation expected to buy.

Yes, TCS and I bought our first house in 1978 when we were still in our 20's and it was very small and basic (but we were very happy with it). Over the years, we did our own upgrades on it until we sold it.

How long do you think it takes to save up for a down payment on a house today?


Maybe. If it's a real emergency.
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I learned after my sister had a bad luck with cash only car so she's stuck with public transportation for now.

I only recommended co-sign with families and relatives only - I did with my parent and relative in past without any issue.

What is expectation for starter home means?

It took one year for my mother to had a lot of money for down payment.

The emergency means if your car is broken or get in accident while you have little money to left in bank so credit card will save you from trouble and wait for next payday to pay rest of bill off. It is good for online shopping because some of them can be high risk.
 
Foxrac said:
It is good for online shopping because some of them can be high risk.
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That's why you need to research a site before you buy. I purchase a lot of Hong Kong/Korean films so I'm not buying from Amazon or the stores the malls. I did a lot of asking around for safe sites to buy from and I've done business with those companies for years without problems. If you don't know anything about the store online, cash, credit, or debit, you shouldn't be doing business with them.
 
Lau2046 said:
That's why you need to research a site before you buy. I purchase a lot of Hong Kong/Korean films so I'm not buying from Amazon or the stores the malls. I did a lot of asking around for safe sites to buy from and I've done business with those companies for years without problems. If you don't know anything about the store online, cash, credit, or debit, you shouldn't be doing business with them.
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It isn't always guaranteed because I received a overcharge (over $300) from legit online retailer because they made mistake and fixed it - it took several days to credit to my account. My credit card was hacked after made a purchase via Amazon, despite about being legit retail.

You never know no matter.
 
Foxrac said:
...What is expectation for starter home means?....
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It means what kind of house do you expect to buy for your first home?

Location?

Single home on large lot, condo, duplex, townhouse?

Neighborhood amenities? (community pool, golf course, playground, sidewalks, walking/jogging trails, bike lanes)

How many square feet?

How many bedrooms/bathrooms?

Garage?

Builder grade materials (laminate counters, vinyl and carpet flooring, standard appliances, very little trim) or upgraded materials (granite counters, hard wood flooring, professional style appliances, crown molding, architectural shingles)?
 
We use debit cards only. I took hubby's from him and I have control of them both. They stay home locked up unless I am out specifically shopping. I have the checkbook in case of emergency. MIL uses credit card only and refuses a debit or ATM card.
 
Foxrac said:
It isn't always guaranteed because I received a overcharge (over $300) from legit online retailer because they made mistake and fixed it - it took several days to credit to my account. My credit card was hacked after made a purchase via Amazon, despite about being legit retail.

You never know no matter.
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It's true that hacking can happen even at trusted sites.

It can even happen when you've never been a customer.

TCS had money withdrawn from his bank account by Sprint. We've never been customers of Sprint. They took money out of his account for some character we've never met to pay his phone bill for several months (automatic withdrawal). We finally got the money back. The Sprint executive told TCS that they don't care whose name is on a bank account or phone account--as long as there is money in the account they will take it. Yes, he said exactly that.
 
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