Author Topic: Do you all fuck wit credit cards much?  (Read 1324 times)

Infinite Trapped in 1996

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Do you all fuck wit credit cards much?
« on: August 18, 2013, 02:59:27 PM »
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...
« Last Edit: August 18, 2013, 03:01:48 PM by Infinite African Westcoastin 2012 and 13' »
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"I will make records as big or bigger than Death Row".   -Dre, Source 1996

"I didn't do nothing but make people money and I didn't leave nobody high and dry.  Any album (on death row) people are going to check for.  But it's time for Dre to worry about Dre.  I'm focused on the new Snoop Doggs, not like that but you know what I mean."

Dre -  Source 1996 cover

"Ain't trying to stick around for Illuminati (One World Government Takeover) / Got to buy my own island by the year 2-G

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heyyou

Re: Do you all fuck wit credit cards much?
« Reply #1 on: August 19, 2013, 02:46:22 AM »
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!
 

Infinite Trapped in 1996

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Re: Do you all fuck wit credit cards much?
« Reply #2 on: August 19, 2013, 10:55:14 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!

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.
*******

"I will make records as big or bigger than Death Row".   -Dre, Source 1996

"I didn't do nothing but make people money and I didn't leave nobody high and dry.  Any album (on death row) people are going to check for.  But it's time for Dre to worry about Dre.  I'm focused on the new Snoop Doggs, not like that but you know what I mean."

Dre -  Source 1996 cover

"Ain't trying to stick around for Illuminati (One World Government Takeover) / Got to buy my own island by the year 2-G

******
 

MUHFUKKA

Re: Do you all fuck wit credit cards much?
« Reply #3 on: August 19, 2013, 11:18:31 AM »
"pay myself back" wow do you have any idea how a credit card works

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Ghost Drebin

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Re: Do you all fuck wit credit cards much?
« Reply #4 on: August 19, 2013, 11:32:15 AM »
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.
 

Sir Petey

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Re: Do you all fuck wit credit cards much?
« Reply #5 on: August 19, 2013, 12:51:29 PM »
"pay myself back" wow do you have any idea how a credit card works


epic fucking facepalms bro.

heyyou

Re: Do you all fuck wit credit cards much?
« Reply #6 on: August 19, 2013, 01:20:53 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!

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.
« Last Edit: August 19, 2013, 01:25:17 PM by heyyou »
 

Infinite Trapped in 1996

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Re: Do you all fuck wit credit cards much?
« Reply #7 on: August 19, 2013, 02:31:47 PM »


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.

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?   

« Last Edit: August 19, 2013, 02:33:26 PM by Infinite African Westcoastin 2012 and 13' »
*******

"I will make records as big or bigger than Death Row".   -Dre, Source 1996

"I didn't do nothing but make people money and I didn't leave nobody high and dry.  Any album (on death row) people are going to check for.  But it's time for Dre to worry about Dre.  I'm focused on the new Snoop Doggs, not like that but you know what I mean."

Dre -  Source 1996 cover

"Ain't trying to stick around for Illuminati (One World Government Takeover) / Got to buy my own island by the year 2-G

******
 

J. B A N A N A S

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Re: Do you all fuck wit credit cards much?
« Reply #8 on: August 19, 2013, 02:47:48 PM »
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. 
 

Infinite Trapped in 1996

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Re: Do you all fuck wit credit cards much?
« Reply #9 on: August 19, 2013, 03:34:59 PM »
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. 

And what other method do you suggest?  Should they just take your word for it? 
*******

"I will make records as big or bigger than Death Row".   -Dre, Source 1996

"I didn't do nothing but make people money and I didn't leave nobody high and dry.  Any album (on death row) people are going to check for.  But it's time for Dre to worry about Dre.  I'm focused on the new Snoop Doggs, not like that but you know what I mean."

Dre -  Source 1996 cover

"Ain't trying to stick around for Illuminati (One World Government Takeover) / Got to buy my own island by the year 2-G

******
 

J. B A N A N A S

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Re: Do you all fuck wit credit cards much?
« Reply #10 on: August 19, 2013, 03:40:14 PM »
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. 

And what other method do you suggest?  Should they just take your word for it? 

I don't have to worry about another method, my credit is pretty decent. Don't try to get all conservative on me Brian you're not built for it.
 

Jack Trippa 3z company ho

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Re: Do you all fuck wit credit cards much?
« Reply #11 on: August 19, 2013, 04:59:44 PM »
Having a credit line is important in case some shit pops off and you're in a pinch. People fuck up and think they got rich by getting a CC and that's when trouble starts. I get a discount at gas station and grocery stores so I use it for that but pay my balance every month. If you do it right, it's a good thing, of you have no discipline you'll be up shit creek real fast.
 

Teddy Roosevelt

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Re: Do you all fuck wit credit cards much?
« Reply #12 on: August 19, 2013, 05:19:55 PM »
I don't have any credit cards yet. My credit score is too low to get one. However, I don't see credit as being necceasry unless you're buying a house, a car or starting your own business (and for emergencies, of course). Aside from that, I'd just use it to build up my credit score. Anything else you don't absolutely have to have and you can just save up for it.
 

heyyou

Re: Do you all fuck wit credit cards much?
« Reply #13 on: August 20, 2013, 12:44:06 AM »


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.

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? I thought it was very good at explaining the monetary system in a simple way.
I'd also recommend mike Maloney 'why gold and silver' which explains how banking and money works.

Like I said c/c companies don't loan you money, they merely do a book keeping entry and monetise your promissory note.
In fact I believe you can write your own promissory note (ie I promise to pay th  bearer on demand ) and spend it or deposit it in your bank.

The only reason you can't do it yourself is people's confidence in you paying them back (breaking your promise). People trust the banks & c/c companies because of the assets they appear to have, giving the appearance of confidence of paying the creditor.
 

J. B A N A N A S

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Re: Do you all fuck wit credit cards much?
« Reply #14 on: August 20, 2013, 12:16:12 PM »


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.

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?

It's bullshit in that it in no way offers advice on how to actually generate any money, just poo poos the working man as a sucker (which he is). It's easy to show someone how they are wrong, a lot harder to actually show them a better way. Kiyosaki also has no problem plugging his other book, tapes and lectures as though the real secret will be revealed within those.

That's my two cents though. Others might have other criticism.