Credit Card Perks

[PoopyfaceMcGee]

I resent the game they've made of this.  I have a life to live.  I use debit only, credit cards are for emergencies only.  And by emergency I mean, someone needs an abortion or I can't get to work if the car doesn't work.

My wife plays the game. 

I win for not playing.

Exact same situation. 33 and I've never had a credit card.

Similar situation, except not. 28 and can no longer get a credit card.

Per King Cole, you could sell for almost $2,000!

[SD_Eagle5]

Was it worth more or less when the Ask Freddie Mitchell section was open

[PoopyfaceMcGee]

 

[phattymatty]

good luck getting a mortgage or any other kind of big loan without ever having a credit card. 

i was that way for a long time because of some really bad credit decisions i made in college.  now it's been long enough that my credit was back to being good, but even if you have a good credit score numbers wise, if you don't have enough history of credit, it's just a bad as having a poor rating.  i had a good rating and was told it would still be hard for me to get a loan. 

i charge everything now and pay it off the next day.  and i haven't paid for a hotel room in vegas for about the last 20-25 nights i've stayed there.  same thing with flights.  i just booked a free flight to europe with frequent flier miles. 

as long as you don't get lazy and get charged the finance charges there's no reason not to charge shtein. 

[reese125]

i was that way for a long time because of some really bad credit decisions i made in college

amazing how kids were jonesin for some t-shirts back in the day...times were tough

[SD_Eagle5]

good luck getting a mortgage or any other kind of big loan without ever having a credit card. 

i was that way for a long time because of some really bad credit decisions i made in college.  now it's been long enough that my credit was back to being good, but even if you have a good credit score numbers wise, if you don't have enough history of credit, it's just a bad as having a poor rating.  i had a good rating and was told it would still be hard for me to get a loan. 

i charge everything now and pay it off the next day.  and i haven't paid for a hotel room in vegas for about the last 20-25 nights i've stayed there.  same thing with flights.  i just booked a free flight to europe with frequent flier miles. 

as long as you don't get lazy and get charged the finance charges there's no reason not to charge shtein. 

http://www.homeloans.va.gov/

[phattymatty]

ah.  then good move. 

[Diomedes]

yadda yadda

All true.  We got our house on the strength of my wife's credit, which was good because she uses cards and pays them off on time, etc.  I could not have gotten a mortgage for a dumpster myself.

I hate the racket they've set up.  In order to be considered credit worthy, you're required to tango with usurers.  It's a dangerous dance because if you miss a step, you're farged.

[PoopyfaceMcGee]

good luck getting a mortgage or any other kind of big loan without ever having a credit card. 

i was that way for a long time because of some really bad credit decisions i made in college.  now it's been long enough that my credit was back to being good, but even if you have a good credit score numbers wise, if you don't have enough history of credit, it's just a bad as having a poor rating.  i had a good rating and was told it would still be hard for me to get a loan. 

i charge everything now and pay it off the next day.  and i haven't paid for a hotel room in vegas for about the last 20-25 nights i've stayed there.  same thing with flights.  i just booked a free flight to europe with frequent flier miles. 

as long as you don't get lazy and get charged the finance charges there's no reason not to charge shtein. 

I think the primary argument against that is "sticking it to the credit companies" by not giving them a rip (of course if you run an ATM card as "credit," they still get their cut).

I've started to split it up.  Since I actively track the finances, I have my wife use a credit card so that her purchases aren't out of our checking account before I know what they are.  But I use cash or a debit card nearly exclusively.

Still, if you have any doubt whatsoever that you won't have the money to pay off your cards every month, DON'T USE THEM.  Some of us take it for granted that being an adult naturally lends (ha!) itself to being responsible with money, but some people simply don't understand how little disposable income they have or simply can't control spending.

To each his/her own.

[Diomedes]

I always wonder why some merchants automatically want to run my debit card as credit:  doesn't that cost them more?

[phattymatty]

yeah i wrote that like i'm a responsible adult when in reality i'm exactly the opposite.  


i went 28 years without even thinking about credit, and my place now was bought under the credit of my ladyfriend.  i just recently started thinking about it because i'd like to get another place strictly as an investment.  and as another place to crash if i get too boozed up and can't make it across the city.  

[paco]

Im in a similar situation as you.  I travel alot, so I use CC's as a way to get "free" rewards through expensed items. 

My primary card is a Hilton Honors American express card.  Since I stay primarily at Hiltons, this was a no brainer.  Extra points, no annual fee.  3 points per dollar purchase, 5 per dollar on select items/stores (like gas stations, drug stores, etc)

My secondary card is a plain old discover card, which I have had forever.  I only use this card in three situations:
1) When the vendor doesn't take AMEX
2) When discover is having a 5% cash back bonus promotion (For example, last year from Oct through Dec 31st, you get 5% back at restaurants, $400 dollar purchase ceiling)
3) For dining network restaurants


As to the third point, it may be to your benefit to look into the different dining networks.  I use it for some airlines which I have miles on, but I don't fly often and I don't want the miles to expire.  You hook up the card to the network, and you automatically get points/miles on that card on top of the bonuses you normally get with the card.  For example:
https://aa.rewardsnetwork.com
http://skymiles.rewardsnetwork.com
There are others that you can try that will fit your traveling options.

[reese125]

if youre fortunate enough to have 2 good paying jobs with you and your wife--I highly recommend keeping your own separate checking accounts and separate credit cards

sure you share the same financial interests when married, but #1 it keeps your relationship free of arguments over money, and #2 it allows me to not to have to check my checking account every single day to see what was spent by my wife. The last thing I would want is somebody looking over my shoulder when I buy something..vice versa

The only caveat to this is you have to marry a responsible girl that doesnt feel the need to buy a pair of shoes and a Gucci bag every other day at the mall.

[rjs246]

Plus it makes it much easier when she inevitably leaves you.

[reese125]

youre god damn right