Help me understand credit cards

IloveTHIS

IloveTHIS

Steel Belt
@Steel
Joined
Dec 7, 2011
Messages
30,812
Reaction score
13,349
Spent a lot of money recently. My balance is still a few hundred under my limit, but for credit it says $0.00

I always took this credit amount as how much you can spend with out paying off some of the balance.

I did a test and successfully bout $3 worth of snacks with the cc, despite it showing 0 credit

Halp
 
It's a scam. I've never had one.
 
Sometimes it takes a day or so for recent purchases to show up on online statements.

But balances are all always in real time
 
Better send me your card number, security code and pin so i can do an in depth analysis.

As mentioned above, some purchases may take a day or two to be posted. Wouldn’t Credit refer to any payment you would have made?

If you can avoid it never carry a balance on your card. The interest rate is way too high.
 
Ottawaguy said:
Better send me your card number, security code and pin so i can do an in depth analysis.

As mentioned above, some purchases may take a day or two to be posted. Wouldn’t Credit refer to any payment you would have made?

If you can avoid it never carry a balance on your card. The interest rate is way too high.
Click to expand...

I have a low rate card. 11% anually. So If I put a $1000 balance on it and leave it for a year while making the minimum payment, I will have spent $9/month on interest.

Seems reasonable.
 
If you don't understand how they work, don't fucking use them.
Jesus.
 
Yorkist said:
I have a low rate card. 11% anually. So If I put a $1000 balance on it and leave it for a year while making the minimum payment, I will have spent $9/month on interest.

Seems reasonable.
Click to expand...
11% is not so bad. With some of the higher ones some people pile on too much and barely make headway.
 
Yorkist said:
How did you build your credit to buy a house? Car loans?
Click to expand...

My Dad Never had a credit card. His Dad co-signed a loan for him for a car when he was a teenager and he just built his credit from there. He has owned a bunch of vehicles, 2 houses, and had a cabin with 80 acres of property. When he co-signed a loan for me when I was in my early 20's his credit was like 850 or something ridiculous.

I didn't grow up rich and both he and my Mother worked, but we were middle class and never went without and had plenty of creature comforts. Now he has a pension, no car payment, and no mortgage. Granted all of this was easier to do as a baby boomer, but it's still possible.
 
Last edited:
Yorkist said:
Ah. Rent and Bills don't count in Canada I think.
Click to expand...
Full disclosure


I had a father who had a sucessful business with a relatively small bank. They gave me the best mortgage rate (3.5%). That may have had something to do with me getting approved.
 
mb23100 said:
Full disclosure


I had a father who had a sucessful business with a relatively small bank. They gave me the best mortgage rate (3.5%). That may have had something to do with me getting approved.
Click to expand...

200w.gif
 
Yorkist said:
How did you build your credit to buy a house? Car loans?
Click to expand...
Buying stuff and paying it off on time.

I bought a car, a sofa, shit like that

Its bullshit that rental history doesn't count
 
IloveTHIS said:
Spent a lot of money recently. My balance is still a few hundred under my limit, but for credit it says $0.00

I always took this credit amount as how much you can spend with out paying off some of the balance.

I did a test and successfully bout $3 worth of snacks with the cc, despite it showing 0 credit

Halp
Click to expand...
Credit cards are free money.

Just keep upping your limit and spending.
 
I use credit cards all the time and pay off the balance every month. There are certain benefits when renting cars, electronics, gas, etc. One of my card gives 1% cash back (I realize other cards may offer more), 5% off gas, covers secondary insurance when renting cars (no CDW needed), extends warranties, price protection for 120 days and other benefits. Another gives me discounts with cable, cell service, groceries. I never pay annual fees for my cards.
 
Steve-French said:
My Dad Never had a credit card. His Dad co-signed a loan for him for a car when he was a teenager and he just built his credit from there. He has owned a bunch of vehicles, 2 houses, and had a cabin with 80 acres of property. When he co-signed a loan for me when I was in my early 20's his credit was like 850 or something ridiculous.

I didn't grow up rich and both he and my Mother worked, but we were middle class and never went without and had plenty of creature comforts. Now he has a pension, no car payment, and no mortgage. Granted all of this was easier to do as a baby boomer, but it's still possible.
Click to expand...

Yeah, baby boomers could do all that with a high school diploma and nothing else. Some didn’t even need that.
 
BoogerDawson said:
I use credit cards all the time and pay off the balance every month. There are certain benefits when renting cars, electronics, gas, etc. One of my card gives 1% cash back (I realize other cards may offer more), 5% off gas, covers secondary insurance when renting cars (no CDW needed), extends warranties, price protection for 120 days and other benefits. Another gives me discounts with cable, cell service, groceries. I never pay annual fees for my cards.
Click to expand...

I don't think you can rent a car without a credit card unless you give them cash for the deposit. I like to pay for gas at the pump.
 
You must log in or register to reply here.

Latest posts

Forum statistics

Threads
1,236,405
Messages
55,418,258
Members
174,765
Latest member
durbanik916

Share this page

Back
Top