Quote from: CÆSAR GAIVS AVTISMVS on November 09, 2015, 09:33:08 PM

Quote from: RadioactiveTurkey on November 09, 2015, 09:20:20 PM

Quote from: Dan on November 09, 2015, 09:12:00 PM

Quote from: RadioactiveTurkey on November 09, 2015, 09:09:49 PM

Quote from: Kitsune on November 09, 2015, 09:06:26 PM

Quote from: Dan on November 09, 2015, 09:03:56 PM

Quote from: RadioactiveTurkey on November 09, 2015, 08:57:31 PM

Quote from: Dan on November 09, 2015, 08:54:47 PM

Never going to get a credit card.

Sorry to hear about your shitty credit score.

Good thing a credit score doesn't matter to me one bit.

You're smart. You can build your credit with rent.

Rent is no replacement for credit history, and  not all landlords report it. There's no reason to be scared of credit, and failure to grow a diverse credit history absolutely will affect you later in life.

It won't affect me in any way.

That's a great joke to tell the car salesman when you get an 18% APR on your first car, or at your first real job interview when they ask you to explain your credit report.

I've never had a need for a credit card yet. I've only used a debit card so far. Is it something that would benefit me in the long run?

Absolutely.

A well maintained credit card is the best way to build credit, and then everything in your life will be cheaper.

Never really had a need for one so far. If it'll help me financially I guess I'll look into it.

Quote from: RadioactiveTurkey on November 09, 2015, 09:35:45 PM

Quote from: CÆSAR GAIVS AVTISMVS on November 09, 2015, 09:33:08 PM

I've never had a need for a credit card yet. I've only used a debit card so far. Is it something that would benefit me in the long run?

Absolutely, even as a teenager. Use it for small, consistent purchases (like gas), pay it off every month, and gradually build your credit score. It'll come in really handy after college when you're applying for a loan to move or for a car, will open up other opportunities for different lines of credit, and has an affect on your job further down the line (such as a background check or security clearance for government work).

Are there other ways to build up a good financial reputation other than through a credit card?

Yes, inevitably you'll need a loan for something (car, house, repairs, appliances, etc.)

I'm not sure if it'd be something I'd even use that much since I don't spend very much money and when I do I usually spend long periods of time contemplating whether I'd get any value out of the purchase or not before I make it.

I don't want to make assumptions about how old you are or what your experiences are, but when I graduated college and moved across the country I needed a car. The interest rate I got on that car is directly related to my credit score, and can result in significantly lower costs. I needed to furnish my house, so I opened up another line of credit for a washer and dryer, and some other things; I also just recently decided to open up an Amazon credit card, since my wife and I use it for a lot of purchases; We're also considering a travel card because we're a military family and like to see family, so we'll rack up miles and rewards. Not to mention, I paid for my wife's wedding rings through a Kay credit card.

Not only is a healthy, diverse credit score beneficial beyond your credit limits or interest rates, additional credit lines provide financial stability and let you avoid having to amass savings just to make large purchases.

I'd recommend asking your parents about it, and see about opening up a credit card at your bank --  just for small purchases, paid off every month, but still a good investment.

Racked up until you can't be used anymore and then thrown away for another one?

Quote from: ソレノイド on November 09, 2015, 09:23:18 PM

Quote from: Dan on November 09, 2015, 09:22:26 PM

Quote from: ソレノイド on November 09, 2015, 09:21:25 PM

Quote from: Dan on November 09, 2015, 09:20:13 PM

Quote from: ソレノイド on November 09, 2015, 09:14:42 PM

Quote from: RadioactiveTurkey on November 09, 2015, 09:09:49 PM

Quote from: Kitsune on November 09, 2015, 09:06:26 PM

Quote from: Dan on November 09, 2015, 09:03:56 PM

Quote from: RadioactiveTurkey on November 09, 2015, 08:57:31 PM

Quote from: Dan on November 09, 2015, 08:54:47 PM

Never going to get a credit card.

Sorry to hear about your shitty credit score.

Good thing a credit score doesn't matter to me one bit.

You're smart. You can build your credit with rent.

Rent is no replacement for credit history, and  not all landlords report it. There's no reason to be scared of credit, and failure to grow a diverse credit history absolutely will affect you later in life.

70% of your Equifax (the score weighed most heavily in mortgages) is based off of your percent available between all of your credit cards.

Even your car insurance is cheaper if you have open credit cards.

Good thing I'll never borrow money to buy a house.

Let me guess, rich family?

Not at all.

Then you're either killing yourself or need credit.

I'm not against credit cards. I just would never get one.
I never understand how borrowing money to pay for things you can't afford became such a popular concept.

That's not what credit is. I make 55k a year, so I'd never be able to buy a decent car in cash. However, I do know I can afford monthly payments of x amount for y number of years. I didn't borrow what I didn't have, I agreed to a contract that I can afford. That's exactly the point of credit limits, to ensure you're not spending more than your income allows. Certainly people abuse loans and credit, but to say credit is just borrowing money to buy things you can't afford is incredibly naive.

Quote from: RadioactiveTurkey on November 09, 2015, 10:50:09 PM

Quote from: Dan on November 09, 2015, 09:50:31 PM

Quote from: ソレノイド on November 09, 2015, 09:23:18 PM

Quote from: Dan on November 09, 2015, 09:22:26 PM

Quote from: ソレノイド on November 09, 2015, 09:21:25 PM

Quote from: Dan on November 09, 2015, 09:20:13 PM

Quote from: ソレノイド on November 09, 2015, 09:14:42 PM

Quote from: RadioactiveTurkey on November 09, 2015, 09:09:49 PM

Quote from: Kitsune on November 09, 2015, 09:06:26 PM

Quote from: Dan on November 09, 2015, 09:03:56 PM

Quote from: RadioactiveTurkey on November 09, 2015, 08:57:31 PM

Quote from: Dan on November 09, 2015, 08:54:47 PM

Never going to get a credit card.

Sorry to hear about your shitty credit score.

Good thing a credit score doesn't matter to me one bit.

You're smart. You can build your credit with rent.

Rent is no replacement for credit history, and  not all landlords report it. There's no reason to be scared of credit, and failure to grow a diverse credit history absolutely will affect you later in life.

70% of your Equifax (the score weighed most heavily in mortgages) is based off of your percent available between all of your credit cards.

Even your car insurance is cheaper if you have open credit cards.

Good thing I'll never borrow money to buy a house.

Let me guess, rich family?

Not at all.

Then you're either killing yourself or need credit.

I'm not against credit cards. I just would never get one.
I never understand how borrowing money to pay for things you can't afford became such a popular concept.

That's not what credit is. I make 55k a year, so I'd never be able to buy a decent car in cash. However, I do know I can afford monthly payments of x amount for y number of years. I didn't borrow what I didn't have, I agreed to a contract that I can afford. That's exactly the point of credit limits, to ensure you're not spending more than your income allows. Certainly people abuse loans and credit, but to say credit is just borrowing money to buy things you can't afford is incredibly naive.

Well.

Ignoring the fact that a lot of people play their hand that way with credit cards.

Not most though.

Credit is all about proving you're trustworthy, and contemporary credit wouldn't be that way if it wasn't a system that worked, and worked well being fueled by trust.

With no fucking limits

I found your song