[ArmyBimmerDude]

I've never had any need for a CC. My checkcard does everything I need without the debt.

I've seen to many people ruin their lives with credit cards.

[sinnet112]

Originally Posted by s1eepy

yea i might just get a cc for gas and dining. anyone know a good one with cashback or incentives whatever?

Chase Freedom Credit Card.

3% cash back on your top three group expenditures per month, 1% on everything else. Gas and dining are all categories. It's a great card. When you get $200 worth of rewards, they give you an extra $50, so it's actually $250.

Best card I've gotten so far, with the exception of AMEX cards like the Platinum that gives nice benefits, like tickets to events and a great concierge service, although the yearly fee for that card is about $300.

[krnshinsa]

first month i got my cc i max'd it out. too much power but i dealt with it.

[par4bmw]

This forum has a strong financial community. Polar opposite of the rest of America. As of now, 68% have no debt. Only 8% feel they are in too much debt.

[!Xoible]

i never ever ever in my life let credit card to grab me by the balls. i pay right away. if i dont have it, i dont spend it

[Last E92 M3]

Originally Posted by ArmyBimmerDude

I've never had any need for a CC. My checkcard does everything I need without the debt.

I've seen to many people ruin their lives with credit cards.

i've got a question for you and any americans who dont have credit cards.
how do you guys loan house/car and etc? i thought it depends on your credit rating.
this is my 7th year in the US and i've been maxing out my limit every month and to increase my credit score/limit.

[Park2670]

Couple of small purchases that werent the wisest, but my limit is small enough im not screwed.

[stooken]

Originally Posted by par4bmw

This forum has a strong financial community. Polar opposite of the rest of America. As of now, 68% have no debt. Only 8% feel they are in too much debt.

i highly doubt that number is accurate. some people just aren't honest with themselves.

[bosstones]

Simple rule I have is: don't by anything with a CC if you either don't already have the $$$ or soon will (before bill time). As some people already mentioned, managing your credit is something a lot of people seemingly have a hard time with. I'm happy to say that I walked out of college (5 years, too! ) with zero credit card debt. I use it for emergencies and online purchases but, again, apply my 'simple rule' for the on-line purchases and pay off my balance every month.

CC's aren't a bad thing, unless you have a bunch of them, if you're disciplined enough to not think your credit is free money like a lot of people.

[E(@M#]

in most cases, i've been made aware that to get approved for financing etc., which would result in better credit, you must have some sort of established credit already.........advise you get one, but no more, because it can be helpful

[garyhgaryh]

Originally Posted by Last E92 M3

i've got a question for you and any americans who dont have credit cards.
how do you guys loan house/car and etc? i thought it depends on your credit rating.
this is my 7th year in the US and i've been maxing out my limit every month and to increase my credit score/limit.

Is that really smart? Why would you want to max out your credit card?
I have a high credit limit and never get close to maxing it out and my credit score is close to 850.
Gary

[garyhgaryh]

I buy everything with credit cards if i can, i just don't max it out like the previous poster does. Pay it off every month and get mula back. I get 1% back on any purchase with my credit union master card and up to 3% on my costco card. If you can manage your money, you should be able to manage your credit card spending - use it like cash. In other words, be frugal with your purchases and splurge sometimes.

Originally Posted by bosstones

Simple rule I have is: don't by anything with a CC if you either don't already have the $$$ or soon will (before bill time). As some people already mentioned, managing your credit is something a lot of people seemingly have a hard time with. I'm happy to say that I walked out of college (5 years, too! ) with zero credit card debt. I use it for emergencies and online purchases but, again, apply my 'simple rule' for the on-line purchases and pay off my balance every month.

CC's aren't a bad thing, unless you have a bunch of them, if you're disciplined enough to not think your credit is free money like a lot of people.

[bosstones]

Originally Posted by garyhgaryh

If you can manage your money, you should be able to manage your credit card spending - use it like cash. In other words, be frugal with your purchases and splurge sometimes.

Agreed. Sounds so simple, but it's amazing how many people that are in a position to don't.

[Last E92 M3]

Originally Posted by garyhgaryh

Is that really smart? Why would you want to max out your credit card?
I have a high credit limit and never get close to maxing it out and my credit score is close to 850.
Gary

well i am not buying random stuff to max out credit card lmfao
i only get 700 dollars credit limit
if you have cash to pay for that debt every month, why not spend it and get credit score at the same time instead of paying cash or using debit card for purchases?

2 months ago, i bought all my books, which cost me 600dollars +
last month, i bought detailing stuff which was also over 600dollars +

i dont think there's any dumb people out there to max out their limit to get higher credit score rating

[garyhgaryh]

Originally Posted by Last E92 M3

well i am not buying random stuff to max out credit card lmfao
i only get 700 dollars credit limit
if you have cash to pay for that debt every month, why not spend it and get credit score at the same time instead of paying cash or using debit card for purchases?

2 months ago, i bought all my books, which cost me 600dollars +
last month, i bought detailing stuff which was also over 600dollars +

i dont think there's any dumb people out there to max out their limit to get higher credit score rating

>> didn't you say: this is my 7th year in the US and i've been maxing out my limit every month and to increase my credit score/limit.



In your case, maxing out your cc is going to be easy with that low of a credit limit. Looks like you can do it in one purchase . I thought perhaps you have a credit limit of $10k-$20k+. Anyways, in your case where you credit limit is $700 and you can pay off your debt, then go for it.

Some guys are high rollers here. There is a guy on this board that says he routinely spends $1k on dinners. Not sure if he's showing off or he really does spending that much regularly for dinner. If he does, maxing out his credit card would probably be an easy thing.

[badfish]

I don't see credit cards as being bad. My credit cards pay me to use them. I earn a minimum of 1% on both of my cards. Sometimes they run promotions on gasoline, restaurants, etc. I can earn up to 5%.

Take my M3 deposit for instance, that was $1000. I earned 1% on that and so I saved $10 off of MSRP . In addition, the cards have a number of benefits such as insurance, returns, travel assistance, etc. My Capital One card has no limit on how much I can earn each year. The other nice thing about the Capital One card is that there is no foreign exchange conversion fee when use the card overseas and that's important to me.

I try to put as many of my purchases on my card as I can. I pay off every time and I earn at least $1000 back each year. It's easy money.

[Etnies]

Credit card and no debt.
Having a credit card in the US is pretty much essential, at least to make things easier. Doesn't mean you have to use it all the time, but it's good to have. People just need to know their bounds and have a little self-control.

[nmulax]

Originally Posted by Last E92 M3

i've got a question for you and any americans who dont have credit cards.
how do you guys loan house/car and etc? i thought it depends on your credit rating.
this is my 7th year in the US and i've been maxing out my limit every month and to increase my credit score/limit.

Originally Posted by garyhgaryh

Is that really smart? Why would you want to max out your credit card?
I have a high credit limit and never get close to maxing it out and my credit score is close to 850.
Gary

+1

Last E92 - a big part of your credit score is based on your debt ratio (the lower the better, so on $700, don't carry more then $350).

I'm 25, have 5 credit cards, and an excellent credit score.
I've never maxed one out, or had a missed/late payment. Worst was freshman year of college; I ran up about $3k and had to transfer it to another card for 0% interest.
I use my cards for 95% of my purchases, but I pay them off in full each month, and never spend more then 20-30% of my available credit.

As long as you're smart about your spending and know how to manage your money, a credit card is a great asset. The problem is most people aren't smart and don't know how to manage money.

[ArmyBimmerDude]

Originally Posted by Last E92 M3

i've got a question for you and any americans who dont have credit cards.
how do you guys loan house/car and etc? i thought it depends on your credit rating.
this is my 7th year in the US and i've been maxing out my limit every month and to increase my credit score/limit.

Well for me initially, the military has its version of a credit card, but that wasnt what gave me credit. When in the military, banks will lend to you based on how many years you have left. That gets on your credit report that way. Again, I just dont want to deal with an outrageous bill. If I dont have the money, then I dont buy it.

[O-cha]

Originally Posted by nmulax

+1

Last E92 - a big part of your credit score is based on your debt ratio (the lower the better, so on $700, don't carry more then $350).

Actually it's not the lower the better based on your debt to credit ratio. If you have 10k worth of funds available to you and you are using 200 dollars a month you will have piss poor credit. The sweet spot is to use half of your credit every month.

[Last E92 M3]

Originally Posted by nmulax

+1

Last E92 - a big part of your credit score is based on your debt ratio (the lower the better, so on $700, don't carry more then $350).

I'm 25, have 5 credit cards, and an excellent credit score.
I've never maxed one out, or had a missed/late payment. Worst was freshman year of college; I ran up about $3k and had to transfer it to another card for 0% interest.
I use my cards for 95% of my purchases, but I pay them off in full each month, and never spend more then 20-30% of my available credit.

As long as you're smart about your spending and know how to manage your money, a credit card is a great asset. The problem is most people aren't smart and don't know how to manage money.

when you say "carry", you mean carrying it to next month as so forth?
i dont do that...there will be an interest if i do that haha
i buy stuff with my credit card and when i get the credit card bill, i pay it off so it goes back to my full limit ($700 that is for my case)

Originally Posted by ArmyBimmerDude

Well for me initially, the military has its version of a credit card, but that wasnt what gave me credit. When in the military, banks will lend to you based on how many years you have left. That gets on your credit report that way. Again, I just dont want to deal with an outrageous bill. If I dont have the money, then I dont buy it.

ah...so it's different for people in army. thanks for the info!

[nmulax]

Yeah, carry was the wrong wording. I should have said "charge".