Credit Cards

Sigurthr said:

...sometimes life throws you curve balls and you have no other recourse than credit.

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US health system is pants, no doubt. But hospitals will set up payment plans for you. Even if yours won't, there are cheaper long-term loan options than credit cards. Even if you absolutely MUST charge to a card, APR doesn't kick in for a month, which should give you plenty of time to figure out a better payment option. And there is always a better payment option than carrying a balance on a credit card. APR still doesn't apply, if you do it properly.

Blarg King said:

I've just managed to avoid having a credit card by buying those prepaid ones as I need them. No debt, no interest, much easier to manage

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You're missing the value of a credit card. It's just a tool. There are proper ways, and improper ways to use all tools. Hedge trimmer is a tool. You can use a hedge trimmer to prune your shrubs, or you can try shaving your balls. Does that mean hedge trimmers are a ball hazard? Of course not. Not unless you're an idiot.

The stupid way to use a credit card is buy a TV and pay 5 times what the TV is worth over the next decade. If you use a credit card properly, it's just like what you're using, except you borrow money for a month for free, all the while proving to the banking system you can be trusted, so they will lend you more money and for cheaper later down the road... when you need to buy a house or a car, for instance.

Although one can live without a credit card, there are times when you really do need one.

If you're ever in the position where you have to rent a car. You can't rent one without a credit card. Ever have your car in for service an they offer loaner cars? Most dealers won't loan you the car without a credit card. Why? They swipe your card to cover gas use and possible damage when you return the car. I know this sounds like an extreme example, but as mentioned above, a credit card is just a tool. Use it wisely and you won't get hurt.

Cyparagon said:

You're missing the value of a credit card. It's just a tool. There are proper ways, and improper ways to use all tools. Hedge trimmer is a tool. You can use a hedge trimmer to prune your shrubs, or you can try shaving your balls. Does that mean hedge trimmers are a ball hazard? Of course not. Not unless you're an idiot.

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I like your comparison. Its a wonderful mental image XD

And you do have a valid point, but I've watched a lot of family members with credit cards and managing to screw themselves up, so I'm just avoiding having to deal with any of it unless I really need one.

I hate credit cards. I'm afraid to create.
The only card that i use is pre paid.

Credit cards are excellent, and I don't understand why anybody ever bothers with check cards given the direct access to your account, etc.. Just treat it as a tab you pay back within the month, never paying any kinds of payments. If you pay them back within the month, there is literally nothing to fear from credit cards versus cash or other direct payment means as long as they don't have a membership fee (e.g. American Express).

Bionic-Badger said:

Credit cards are excellent, and I don't understand why anybody ever bothers with check cards given the direct access to your account, etc.. Just treat it as a tab you pay back within the month, never paying any kinds of payments. If you pay them back within the month, there is literally nothing to fear from credit cards versus cash or other direct payment means as long as they don't have a membership fee (e.g. American Express).

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Exactly, I always find it very ignorant when people say "credit cards are bad". In fact, credit cards can be very beneficial especially with the rewards and just the convenience of using them. Just don't spend more than you can afford.

Of course you are going to go into debt if you constantly buy things you cant afford.

Here is one way to do it. I did a lot of credit rebuilding when I was younger although it was easier then. Contact Capital One and see about getting a credit card...not the one without collateral, but one that you keep a balance...that is send them money ahead of time. yes, it is a bit like a debit card but some banks won't give you a debit card until you have credit....hence the Capital One....here is the link: Build Credit with a Secured Credit Card | Capital One

Good luck. Any other credit questions, just PM me.