 If you have no credit because you always pay cash, what's the best way to establish credit? |
| I've heard people say you should get a credit card and only pay the minimum for a few months to carry a balance that is reported. Is that true?... |
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 Car Finance Guarantor - Help? |
hi All,
I wonder if someone could offer any advice. My sister purchased a car about 9 months ago and took out finance on it. She managed to persuade my mum to go guarantor on the payments (... |
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 How do I build my credit if noone will give me any? |
| If you have just turned 18 and you of course need credit, how can you get it if every place requires credit history to get it?... |
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 Should I buy a credit card? |
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Additional Details
This is to help me build credit. I need a automobile for work.... |
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 Will my hus bad credit influence mine? |
My husband just settled two credit cards under his own name. Will that bad credit history influence my credit score?
Sb told me it will only influence me when we are trying to buy a house ... |
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 Where can I go to actually get a FREE credit report? |
They all say "free credit report" and as soon as you get to the last page of questions, they ask for your credit card.
I know there's a place some where because I did it ... |
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 How can I find out what a credit card's credit limit is before I apply for it? |
| I am looking at several credit cards, but the most important factor to me is the credit limit. Is there any way to find out the limit before I'm actually approved for the credit card?... |
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 How can a young adult (between 19-21), start up some credit? |
| I need to know because I trying to start school, and I need to take out a loan. The school I will attend is a "career training" school. Dad and Mom credits were not accepted so, now I ... |
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 No Credit History? |
| I was wondering if it is hard to get a Target Card. I'm 18, I have no credit history whatsoever, but I want to start building a credit history. I love target and know it would be a good store ... |
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 How do i stop a bill collector from calling me,because they want to talk to my daughter,without giving her #? |
| i think someone stole her ID in the pass, and now some collection agency picked up the contract. My daughter had a job where she was making over 60k a year. she just had twin girls last month.she ... |
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 Bill collector told me if i cant pay him, he could get me fired? |
| Hi i have a bill collector after me about a bill 8 years ago from a divorce. it was a credit card for 8k, from my wife... Now he wants 15k to satisfy this, i explained to him it was my wife. He ... |
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 I got approved for a car loan on by Wells Fargo. . .? |
| I did the credit app through the dealership (it went through 7 or 8 lenders--Wells Fargo was the only one to approve me because I have bad credit). Anyway, I was approved for a loan, but the down ... |
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 Credit rating? |
| How can you make it better once you have a few defaults from missing a few payments with just one company?... |
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 Which credit card would you choose and why? |
Additional Details
discover or mastercard to add to your visa credit ... |
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 Are consolidation loans worth it? |
ive got a few credit cards and a loan, at the time when i got them i had a fiull time job and found payments easy
i went back to college last year ti further my education and get better ... |
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 My credit score is 620. Is it really bad? |
| I'm planning on buying a condo. Should i wait for my score to be better? I have 2 credit cards now and don't want to apply for more. Should i get a car to help build my credit story or get ... |
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| Are you learning with me it just be best to use cash for everything and not your banks or credit cards? |
I hope others out their are getting some hands on training with these questions in the past few days. |
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heybulldog
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cash is king. you spend more with credit cards. stay away from them. If you use them sooner or later your gonna get bit. The credit card companies make all the rules. They can change the rules in the middle of the game.
you dont need credit in todays world. What makes today so different from yesterday? |
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math_prof
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There are reasons to use cash. For people who have difficulty budgeting, cash is either there or it isn't. Which means that if you plan to have say $100 to spend all week, once it is gone you are done. With a debit or credit card, it is easy to say I'll just get this one more thing, which turns into two and oh how much did I spend on Monday?
There are also reasons to use cards. For example, the extended warranty that you get from some cards, or the rewards that you can earn. Also it is difficult (almost impossible) to rent a car or hotel room with cash alone. |
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SPIFIMAN1
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If you have the money to pay for the things your buying, why not just use your credit cards and pay them off in full every month?
This builds your credit, it's interest free, you don't have to carry around lots of cash and you have a paper trail, you earn cash back and other perks.
The only reason to use cash only is if you can not manage money. |
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loancareer
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For the most part I have to agree. You do however want to maintain a good credit rating. Someday you will want to make a major purchase. In my experience no credit is worse than bad credit.
What I have done is I've reduced my credit to 3 major cards, set up all of my bills (gas, elec, phone, etc) on auto-pay using my credit cards. Every month when the credit card bills come I pay them off.
Beyond that I try to forget that I even have credit cards.
PS. My FICO (mid-score) is 792 - It works! |
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handyrandy
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I feel your pain. Banks and credit card companies mostly prey on the low income people, because they don't have the resources to fight back. They will take advantage of you. That said, I have to say that I use a credit card daily for most expenses. The key is, of course, to pay the balance off every month. If you use a debit card, it is easy to forget where your balance is before making a purchase. The banks count on this happening, and make a huge profit from overdrafts. With a credit card, while you don't need to have the funds upfront, you do need to pay off the balance every month. If you don't, the fees and charges will add up in a hurry, and will eventually sink you financially. As a young family, we struggled to make ends meet daily. The free and easy credit, along with the financial weight of medical bills finally sank us to the point of bankruptcy. We found that we could only survive by paying cash and working extra jobs. Now that the children are grown, and on thier own, we finally have financial security. |
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babo1dm
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you must be Young..that's been the case all the time...its good to have a Credit Card..but if you have the cash for your purchase pay it....remember if you have to Charge something because its to expensive to buy that means you cant afford it to start with |
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sydscoobs
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I am currently trying a new scheme whereby I place money which would be for food into a high-bearing interest account, then use my credit card to buy food, take note of when my interest is taken out and then take the money out and pay my credit card bill, so Im gaining a little extra money in interest |
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AB
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I do not agree.I used to think the same.What I do is use a credit card all the time,get cash back bonus points,but then I pay off the whole amount when the statement is due.That way I have never paid interest.I just prefer not to carry cash on me.It is very easy to get deep into debt if I didn't do that.We just have to be wise about credit cards. |
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Ronatnyu
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It is sad to say but in today's world you need a "line of credit"
And that's the rub. Don't use it all up and make timely payments so it will be available to you to make plane/hotel/car reservations. |
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iceman
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No .. its not.
RESPONSIBLE people can build credit by using credit cards and loans. Everyone will need a mortgage someday. And most people even need car loans or leases. Sure, I guess not everyone NEEDS a credit card, but they are the best way to build credit so you can get that good interest rate down the road. |
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Seament
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Only if you are irresponsible |
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