It's May 02, 2024, 02:13:41 PM
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!
The blood gang embraces Tupac as a member even if YOU dont.
"pay myself back" wow do you have any idea how a credit card works
Quote from: heyyou on August 19, 2013, 02:46:22 AMYou 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!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.
Wow, no offence but you really need to understand how this all works! You really need to brush up on some basics in financial intelligence, otherwise you will end up poor. Look up robert kyosaki' s rich dad, poor dad on YouTube, that will do you a world of good!The credit card doesn't really provide any real money though, you do! You create the money (a promissory note) the moment you sign the c/c slip.All the c/c company does is do a book keeping entry and charge you ridiculous interest for the money you created! The same goes for a majority of bank loans.They are making money from you for nothing, while you become indebted to them. There will come a point that the majority of your repayments are interest, and you may never get out of the debt trap if you're not careful.
I have a couple, use them seldom but like to tow the line on a small balance just to beef up my credit score. Personally the idea of using credit to deem a persons trustworthiness in society when dealing with mortgages and car notes and such is dirty as fuck, but I play the game anyway and am using it to get a house so I'm not too bothered by it.
Quote from: ♛ LORD BONANNO on August 19, 2013, 02:47:48 PMI have a couple, use them seldom but like to tow the line on a small balance just to beef up my credit score. Personally the idea of using credit to deem a persons trustworthiness in society when dealing with mortgages and car notes and such is dirty as fuck, but I play the game anyway and am using it to get a house so I'm not too bothered by it. And what other method do you suggest? Should they just take your word for it?
Quote from: heyyou on August 19, 2013, 01:20:53 PMWow, no offence but you really need to understand how this all works! You really need to brush up on some basics in financial intelligence, otherwise you will end up poor. Look up robert kyosaki' s rich dad, poor dad on YouTube, that will do you a world of good!The credit card doesn't really provide any real money though, you do! You create the money (a promissory note) the moment you sign the c/c slip.All the c/c company does is do a book keeping entry and charge you ridiculous interest for the money you created! The same goes for a majority of bank loans.They are making money from you for nothing, while you become indebted to them. There will come a point that the majority of your repayments are interest, and you may never get out of the debt trap if you're not careful.Rich Dad Poor Dad is bullshit......And thank you for explaining to me that "you create the money". Because I was actually thinking before talking to you that credit card companies just gave away money.They are not making money from me "for nothing". If that was so, then why don't you loan me the money next time I'm broke? They are providing a valuable service for me that others are unwilling and incapable of providing to me. So why wouldn't they deserve a percentage for providing a valuable service to me that others are unwilling to provide?
Quote from: Infinite African Westcoastin 2012 and 13' on August 19, 2013, 02:31:47 PMQuote from: heyyou on August 19, 2013, 01:20:53 PMWow, no offence but you really need to understand how this all works! You really need to brush up on some basics in financial intelligence, otherwise you will end up poor. Look up robert kyosaki' s rich dad, poor dad on YouTube, that will do you a world of good!The credit card doesn't really provide any real money though, you do! You create the money (a promissory note) the moment you sign the c/c slip.All the c/c company does is do a book keeping entry and charge you ridiculous interest for the money you created! The same goes for a majority of bank loans.They are making money from you for nothing, while you become indebted to them. There will come a point that the majority of your repayments are interest, and you may never get out of the debt trap if you're not careful.Rich Dad Poor Dad is bullshit......And thank you for explaining to me that "you create the money". Because I was actually thinking before talking to you that credit card companies just gave away money.They are not making money from me "for nothing". If that was so, then why don't you loan me the money next time I'm broke? They are providing a valuable service for me that others are unwilling and incapable of providing to me. So why wouldn't they deserve a percentage for providing a valuable service to me that others are unwilling to provide? What part of Rich dad, poor dad is bullshit?