Lifestyle > Train of Thought
Do you all fuck wit credit cards much?
TraceOneInfinite:
First year I went to Africa back in 07' I found myself broke there with 3 weeks before I could get a flight back home. It wasn't easy but I was able to get out of it through a $450 dollar loan from a friend (a guy who had been a mentor to me in Islam in 04-06) , another $400 dollar loan (from my parents), and an African friend of mine in America who just gave me $200 dollars outright. Ever since that experience of being broke and stranded with no safety net, I've been regularly fucking with credit cards.
It's worked out great for me so far. The same thing has happened the 3 times I've went to Africa since, and all 3 times I didn't have to bother anyone with requests for money. I just used my credit cards and paid myself back later. By now I've built up nearly $10,000 dollars worth of credit line. I know for a 30 year old that is nothing spectacular but considering the shit job I work it is actually kind of impressive.
Anyway.. just wanted to see if any of ya'll fuck with credit cards and your thoughts on them...
heyyou:
I've never had a credit card, and at the moment i don't want one.
I prefer to pay cash, or for large purchases a debit card.
If I don't have the money to pay for it sitting in the account, I don't buy or simply wait and save until I can afford it.
That is not to say you can't use credit cards to your advantage if you have savings sitting in your account & are disciplined.
You can spend the banks money an pay it back at 0% interest if paid before the specific period (depends on the terms of the C/C).
Some debt is good, while some are bad. The tricky part is knowing the difference.
Why anyone would pay on a credit card and pay it off over a period when they charge interest at their rates is crazy!!!
Only an intellectually poor person would do that, and the problem is that they'll stay being poor!
What's worse is that some people buy luxuries that they doesn't need on it!!!
You say that you used your credit cards and paid yourself back later? What do you mean by that? Don't you mean that you pay the bank/credit card company back later?
Are you doing this interest-free? If not, you could be on a very slippery slope on a debt-death spiral!
TraceOneInfinite:
--- Quote from: heyyou on August 19, 2013, 02:46:22 AM ---
You say that you used your credit cards and paid yourself back later? What do you mean by that? Don't you mean that you pay the bank/credit card company back later?
Are you doing this interest-free? If not, you could be on a very slippery slope on a debt-death spiral!
--- End quote ---
It's certainly not interest free. But the way I see it, the bank does deserve some money. They provided a service for me and so I don't mind breaking off a little doe for them once my money starts coming back in.
MUHFUKKA:
"pay myself back" wow do you have any idea how a credit card works
Ghost Drebin:
When used correctly it is a good tool. Some of the cards offer extended warranty protection and good perks. As long as you run a small balance, or pay off each month you can come out ahead at the end of the year. Gotta have constraint though.
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