OPINION Why are you still using your debit card?

[Oingo Groove]

there is alot of secrets that can fix your credit in like 90 days.

I'm listening....

 

[OhMars]

its chicken and egg b/c having open lines of credit looks good on your report to potential lenders

i was just approved for a no down payment, 100% financing loan for my new house all because my score is crazy high

I had to charge a buncha shit to get my old house sold, but now that thats out of the way, i will pay that off, and watch how many points my score jumps up

credit cards arent a bad thing, being ignorant about their uses and how they can work for you is the bad thing

My Target card gets me and additional 5% off whatever my purchases are, plus with any coupons or other in store discounts. I got to the service desk to pay it off after im done. Zero balance. I have to buy groceries anyway, why not get a few dollars off in the process?

Whats your score?

 

[IP360]

why?

Cuz its convenient. Sometimes too convenient.

I try to carry cash but that shyt runs thru my hands like water. Those reward points does nothing for me tho.

 

[JUDAH]

DOS balling and dont need credit.

This for us working class folks El Chopo.

 

[DOS_patos]

thing is...with cash you know what you have and you are more likely to know you dont really need something.

but when you have a creditcard..you are more impulsive and can lose track of your spending

 

[OhMars]

DOS balling and dont need credit.

This for us working class folks El Chopo.

Pretty much. When you got it what the point of a loan.

 

[IP360]

Oh and my CC is for the big purchases. Comes in handy but I don't like having lingering balances

 

[JUDAH]

I'm listening....

I can guarantee it all requires upfront cash.

 

[AP3.0]

Whats your score?

Near perfect

 

[AP3.0]

thing is...with cash you know what you have and you are more likely to know you dont really need something.

but when you have a creditcard..you are more impulsive and can lose track of your spending

lol

the same discipline you display with a debit card can be displayed with a credit card fam

this weak lol

 

[DOS_patos]

DOS balling and dont need credit.

This for us working class folks El Chopo.

nah it aint that.....i needed to get to a point of cash only.

i needed a creditcard to rent cars once hertz stopped taking debit cards.

now i will say credit can be useful when leveraged right....but you have to be sure you are able to handle the debt that comes with leveraging something.

i did alot of things to become debt free and also interest free.

now while i could have used debt to maximize my earnings.....i also had to think about the what ifs.

shit can turn on a dime and all your saving can be wiped out but the bills wont stop coming.

 

[AP3.0]

Oh and my CC is for the big purchases. Comes in handy but I don't like having lingering balances

could you buy said purchase with cash?

 

[OhMars]

Near perfect

My nigga.
Im at mid 700s, Gotta get my balance paid off and build other lines or credit to get it higher.
Any tips

 

[AP3.0]

nah it aint that.....i needed to get to a point of cash only.

i needed a creditcard to rent cars once hertz stopped taking debit cards.

now i will say credit can be useful when leveraged right....but you have to be sure you are able to handle the debt that comes with leveraging something.

i did alot of things to become debt free and also interest free.

now while i could have used debt to maximize my earnings.....i also had to think about the what ifs.

shit can turn on a dime and all your saving can be wiped out but the bills wont stop coming.

fam, what is this debt you keep speaking of if you are paying it off on time?

 

[DOS_patos]

lol

the same discipline you display with a debit card can be displayed with a credit card fam

this weak lol

so going crazy with or without interest?

 

[DOS_patos]

My nigga.
Im at mid 700s, Gotta get my balance paid off and build other lines or credit to get it higher.
Any tips

car, second home/investment prop, heloc, personal loan etc

 

[AP3.0]

My nigga.
Im at mid 700s, Gotta get my balance paid off and build other lines or credit to get it higher.
Any tips

get a second gig and throw that money towards ya debt

some of these niggas be clowning me for refereeing, but that shit comes in the clutch. The money comes fast...its cash, and adds up over the course of the season

however, one caveat i didnt mention is aside from my new house, the only debt i have is a low low (i think) balance on my student loans. I stopped at undergrad so my loan payment is manageable af.

Im also a government employee that if i make payments for 10 years or some shit, any remaining debt will be forgiven. Thats another discussion in itself b/c i could probably aggressively attack it and pay it off, but there is no need to do so since the payment is super low and so is the interest.

 

[IP360]

thing is...with cash you know what you have and you are more likely to know you dont really need something.

but when you have a creditcard..you are more impulsive and can lose track of your spending

Gotta cosign this.

Almost pulled the trigger on an Amazon purchase that would've cost 500 bucks total. Had to fall back. Some folks don't realize how fast you can amass debt in such a short time. That's why I TRY to keep my cc hidden in my wallet. Every so often I pull it out and use it, but it depends.

 

[AP3.0]

so going crazy with or without interest?

self discipline fam

im not juding b/c i too have been bitten by the bug to buy something you really didnt need, but you wanted it

im just saying, for me, thats the exception and not the rule

i have very good discipline when it comes to this kinda thing so much so that i dont even really buy shit for myself or treat myself to shit w/o feeling guilty about it

 

[DOS_patos]

fam, what is this debt you keep speaking of if you are paying it off on time?

bruh...how many people that claim disciplined can stay disciplined?
there is a reason most americans have bad credit and alot lving check to check or one check from broke.