I should try to get one of my "clients" to post here. Her husband is SO "anti-credit" that he doesn't even believe in the value of paper money, (backed only by the full faith and CREDIT of the US) all he will use to pay any bills are COINS, needless to say she has had a great deal of trouble handling the family finances !!!
My IN-LAWS were ANTI CREDIT until they went on vacation with us...write a check for the airline tickets..."NO WE DON'T TAKE CHECKS"...credit cards only...OK my son-in-law will pay. Go to a restaurant... "NO CHECKS...especially out of state checks...I really don't care one bit that you have 5 figures in it"...OK my son-in-law will pay... HOTEL..."SORRY NO CHECKS" SOUVENIRS...NO CHECKS RENTAL CAR...NO CHECKS GAS...NO CHECKS ...good thing I had limits with 5 figures!!! DON'T LEAVE HOME WITH-OUT IT
My Mom went to all cash after my Dad died - on the advice of some guy on the radio. Lost a credit history of 40+ years!! I realized she was going to need a car a few years ago. Not wanting her to drive a clunker, and take a chance on being stranded, I talked to her about buying a car. We checked her credit - nothing on there - I mean absolutely nothing. Mortgage history gone, Joint cards with my Dad gone, joint car loans gone - no credit history. I made her AU on two of my cards, got her her own card, and she got a nice 1 year old previously owned vehicle at a good rate, in her own name. Score is now 750's. She has abandoned her cash only position. If I hadn't had credit, she would never have gotten the car. She worried about payments, so I made her a budget, LOL. She was surprised at how much money she had.
Re: Re: This is CREDITNET... GEORGE, would you please finish the story? I feel like a kid listening to a bedtime story with no ending. LOL Have they realized the importance of credit. Have they applied for their own cards?
Re: Re: Re: This is CREDITNET... YES...I FINALLY GOT THEM INTO CREDIT CARDS...(on a very limited basis) DISCOVERCARD JC PENNYS WELLS FARGO MC STANDARD OIL Some people HERE are becoming ANTI-CREDIT CARD...I just didn't want to push the point!!! WHY SOME PEOPLE WOULD WASTE THEIR TIME ON A CREDIT CARD WEB SITE WHEN THEY "HATE" CREDIT CARDS SO MUCH IS BEYOND ME!!! I DON'T LIKE ALCOHOL...BUT YOU DON'T SEE ME ON AN ALCOHOL WEB SITE DOWNGRADING "THEIR" PASSION!!!
Re: Re: Re: This is CREDITNET... I love credit. I know a lot of people that don't believe in it, that is their right, just like it is mine to want more and more. I will never stop the pursue of bigger and less expensive lines. It is foolish on anyones part to turn down 0% offers, but I know people that will not accept them for any length. AMAZING. FREE MONEY. Still they tear the offers up. www.creditsense.com
Re: Re: Re: Re: This is CREDITNET... Years ago my mother REFUSED the SEARS 0.00% for one year offer for her "HIGH END" washer & dryer... $1,500-$2,000??? I SAID THAT WAS STUPID... I said I would put them on my SEARS card for one year and you could make a payment to one of my other cards and we would both be happy...she said NO... Last time I was HOME though...my BROTHER did let me charge his MAJOR car repairs $800+ I told him the approx due date...he sent me a check weeks before it was due. I told him the statement was already has CLOSED a couple of days before the charge...so I have like 45-50 days to pay for that charge...AND I pay ON-LINE (SAME DAY OR NEXT DAY POSTING)
Re: Re: Re: Re: This is CREDITNET.. That is the way credit is meant to be used. Heck, it is FREE money. if you can pay cash it can be DOUBLE free money. www.creditsense.com
Re: Re: Re: Re: Re: This is CREDITNET.. Credit cards aren't "FREE money." Rather they are an opportunity to spend somebody else's money that you have to pay back later. If they were indeed "FREE money," an apt comparison would be to savings bond gifts from Grandma -- which, unfortunately, they aren't. Back when I used to conceptualize credit cards as free money, I would get a new credit card with a $5,000 limit and think, "Hey, $5K just for me -- what can I buy?" It was that kind of thinking that got me way over my head with debt and in big credit trouble, and I'll never repeat that again. You can be PRO-CREDIT -- as I am -- and still understand that an extension of credit is indeed an offer to borrow money. Doc
Re: Re: Re: Re: Re: This is CREDITN Thanks George, you got my drift. Free use, one way. Free interest for the length of the 0% offer the second way. www.creditsense.com
Re: Re: Re: Re: Re: This is CREDITN Sure, at best, 0% APR, it's like a loan from a friend you have to pay back. "Free use of somebody else's money" is not the same thing as "free money" which suggests gift income. I hardly think anybody can call me opposed to credit, LOL. I simply am making the point that thinking of credit as free money can cause problems for some people -- me, for example, during an especially difficult period. If it hadn't been for Creditnet, I would still be in serious trouble in this respect, btw. Doc
Re: Re: Re: Re: Re: Re: This is CREDITN MY JOB IS TO PAY WHAT I OWE AND WHAT I WILL OWE IN THE FUTURE AT THE LOWEST POSSIBLE COST... I use a SPREAD-SHEET with the interest rates of the HIGHEST down to the lowest...I update as needed...the interest rates are in 24pt size so I can see them easily... ALL DAILY CHARGES GO ON THE AMEX DELTA and/or UNITED VISA CARDS AND ARE ALWAYS PAID IN FULL BEFORE THE DUE DATE (I PAY ON-LINE)...I LOVE THE "FUTURE" PAY...
Re: Re: Re: Re: Re: Re: This is CREDITN I have a car loan, a mortgage, student loans, and two credit cards. This is the extent of my credit. When my credit gets better, I will take advantage of "no payments for 12 months", blah blah blah. I will not charge things that I cannot afford to immediately turn around and pay off ever again. That is what ruined my credit to begin with.
If used right.. Credit Cards are not only free money.. But they can let you make money..without having to wait on goods and services you may want then. Example... I buy a 10k Entertainment center.. Have 30 days to pay if off before interest gets tacked on.. okay.. instead of writing a check that day for it which I can.. I leave that money in my money market account for 30 days.. Making me money..
...BUT if you plan it right...charge it the day AFTER the statement closes...you have another 40-60 days...then "IF" you have a 0.00% BT going on another card...you can BT it even longer for a FREE RIDE... I KNOW YOU EVENTUALLY HAVE TO PAY IN FULL...BUT ANY "FLOAT" EVEN 20 DAYS IS STILL WAY BETTER THAN CASH OR A CHECK, ESPECIALLY IF YOU GET MILES OR CASH BACK!!!
That's what I've been trying to tell people, too. I have several cards and use the one to give me maximum time to billing, then pay a day or so before the bill is due. You're right--if I transfer some of that to a 0% card and make minimum payments, I can keep my money quite a while earning interest. I know PyschDoc's point, too. I've gotten in that trouble as well. Now the idea is to have the money and make sure it stays in the money market account. I know some people who even deduct it from their checkbook so they fool themselves into thinking they don't really have the money.
Re: Re: Re: Re: Re: Re: Re: This is CREDITN GEORGE.... is there anyway I can get a copy of that spreadsheet?
