credit card

[Oh Shoot]

For those on the Dave Ramsey plan his general disapproval is not only for the debt load but the unethical way credit card companies treat people. Again this only applies to people who carry debt but there are some true horror stories of out right unethical business that Dave chooses not to participate in. I don't necessarily agree or disagree but it's more than just can you manage to not carry debt.

 

Seems the perfect payback for that is to take money from them then, like I do to CitiBank. They've coughed up 200-700 clams a year to me for decades. :)

 

- OS

Edited September 19, 2015 by Oh Shoot

[Jonnin]

I disagree. It might not fit society's idea of money management, but having a "good credit score" is horsefeces. Debt free is where it's at.

 

I don't have any payments, and pay no interest. Guess what? Because of that, I can fly anywhere I please anytime I please, and I don't need a stinking credit card to do it.

 

Credit means that you are buying crap you have no business buying, and paying for it, plus interest. How's that getting ahead?

 

As far as buying a house goes, you show up the the closing with nothing buy your checkbook, and nobody's going to care what your credit score is. You say that isn't feasible? Go to a mortgage lender with 20% down, and they don't care either. Local auctions carry non-qualifying terms with 15% down.

 

Bottom line: You have a credit score if you owe money. If you don't owe money, you may not have a high credit score, but you don't need credit either.

 

Sure, if you can walk in and plunk down the cash for stuff, do it.   Not everyone just starting out can go debt free.   I mean you can if you live in momma's basement for 5 years while you save up.  Think about what a young'un out of college faces... a house, a car, insurance, utilities, student loans, wedding/dating, and tons more expenses all on, generally speaking, introductory level wages.   Its not possible for most folks. 

[56FordGuy]

Sure, if you can walk in and plunk down the cash for stuff, do it. Not everyone just starting out can go debt free. I mean you can if you live in momma's basement for 5 years while you save up. Think about what a young'un out of college faces... a house, a car, insurance, utilities, student loans, wedding/dating, and tons more expenses all on, generally speaking, introductory level wages. Its not possible for most folks.

Impossible? Can't be done? Maybe not if you "need" new vehicles, cell phones, dinner out, movies, etc. People have to choose what's important- more lifestyle spending now, or a more solid future later. A lot of people just aren't willing to sacrifice now to build a solid foundation for later, which is their choice. I can assure you though, it can most certainly be done because I did it and if I can, anyone can.

[gregintenn]

Sure, if you can walk in and plunk down the cash for stuff, do it.   Not everyone just starting out can go debt free.   I mean you can if you live in momma's basement for 5 years while you save up.  Think about what a young'un out of college faces... a house, a car, insurance, utilities, student loans, wedding/dating, and tons more expenses all on, generally speaking, introductory level wages.   Its not possible for most folks. 

Absolutely it can be done. Don't buy crap you cannot afford. It's painfully simple really.

 

I didn't heir a largess, win a lottery, etc., but somehow I've managed.

Edited September 19, 2015 by gregintenn