do your thing bro.Originally Posted by HatchHero
do your thing bro.
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-IA MANAGEMENT
Different things work for different people. I use what little credit I have as best as possible. I'm $237 In debt right now lol.
When I was 18 I got 3 credit cards. $1000,1500,1800. I was a drunk and had no job and a full time student. I racked up huge bills and just didn't think it was a big deal to never pay them. I defaulted on all of them and it took me 10 years to clear it all up.
I never knew how much it would haunt me as bad as it has. But luckily I negotiated with the debt holders and paid them off and got it off my credit report. I went from a 550 credit score to a 706. I got a secured credit card 2 years ago and that really helped.
Now I have a capital one credit card with $1000 limit and a chase manhattan card with $3000. I also have a business line of credit.
All Xmas gifts I paid cash, most car mods are paid in cash etc
so I've been on both side ls of the aisle
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YO! Omar hit it on the head with this thread! I have been panicking, trying to figure out ways to increase my "good credit" without running the risk of stacking up more "bad credit". All the advice and info in this thread is what I've been looking for! Real talk. My dad dipped out, and my mom has a "hands off" approach, so this "Money Management/Credit Info" means the world to me. It can be overwhelming sometimes, but when it's laid out in front of me, with an example from a peer, it seems much more doable.:boobies:
GREAT INFO! IA NEEDS MORE OF THIS!!
Trend settin'
YO! Omar hit it on the head with this thread! I have been panicking, trying to figure out ways to increase my "good credit" without running the risk of stacking up more "bad credit". All the advice and info in this thread is what I've been looking for! Real talk. My dad dipped out, and my mom has a "hands off" approach, so this "Money Management/Credit Info" means the world to me. It can be overwhelming sometimes, but when it's laid out in front of me, with an example from a peer, it seems much more doable.
GREAT INFO! IA NEEDS MORE OF THIS!!
thanks homie
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
Other plus for credit -
Rewards credit cards with cash back / points. You could probably leave a revolving $50 balance to help build up credit. I usually pay it off but i reap the rewards of cash back and so do my friends. I have it setup where i just pay off once a week so i never have to worry about late payments. With online banking so mature, i can set payments and forget about it and i save on stamps, have no finance charges, etc. Paying everything with cash is great but why not push it through a cash rewards card and pay it off weekly, free money.
Buy stuff online. Gives better protection that if you had paid with cash. You can file disputes, chargebacks etc. Your only liable for $50 if stolen / have fraudulent activity. Debit cards sux b/c they have no protection for consumers. If someone gets those debit card numbers and pin GL getting back the money from the bank...
Automatic drafting. - Alot of people like to use automatic drafting with their checking account. Let's say you have a gym membership you pay for by allowing the Health club auto draft every month. Gym goes belly up and they continue to auto draft. You think your bank is going to help you get your money back from drafting longer than they should? Highly doubt that. There going to tell you go battle it out with the health club. But how, they have gone belly up and continue to draft.... If you used a credit card for auto payment then at least you can call up your credit card to help assist in getting some of the money back and cut off the health club at the nipple, lol. Prob. a bad example but the point is if your going to auto pay, credit is a better option, IMHO.
Warranty - Ever had a dispute with a retailer. By using a credit card to make the purchase you grant your self more protection than if you had paid with cash. Let's say you bought an electronic item and it goes bad and the retailer refuses an exchange / refund. In some cases i have heard of credit cards warranting an item beyond the manufactures (maybe someone can chime in to verify). By using a credit card you have a much better chance to make it happen (calling credit card company to dispute, chargebacks etc). Pay with cash, GL receiving any funds back.
Don't get me wrong cash is still King. Credit just compliments it very well, almost to the point you can't live w/o it.
Last edited by civicturbo10; 12-27-2009 at 12:34 AM.
good input
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
would u happen to kno of any reliable companies that do debt consolidation cause i have been looking into this but i dont kno what companie would really help me u kno
i saythe police
06 sentra - toatolled
91 integra ls- project underway
Try Georgia debt relief. www.ChristianDebtConsolidators.net check the site and call them and see what they can do for you. shop around.
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
OP post is full of win. reps
thanks
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
go to the bank
take a $500-$1000 loan
pay minimum every month until it is paid off.
what bank does loans that small?
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
Great info here guys. Best way to build credit is small loan or credit card. I started with a $1500 loan from my bank and then paid that back. DON'T pay min payment pay a little more than min
reps 4 u im def lookin into that
i say
06 sentra - toatolled
91 integra ls- project underway
no problem
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
i need to sticky this
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
ttt
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
The way I look at it, is just spend your money upfront in full without using any plastic, etc. I have 0% credit but I really don't need it right now. I have a phone under MY name, cars, etc. One day I will get a loan and go from there but I WILL NEVER get a credit card. Seen too many people around me get dug down in debit with those things.
"Damn, Its Tyler"RaceReadyDevelopments
thats because they dont know how to use it.. let me know when you wanna buy that home!!
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
ttt
All that is necessary for evil to succeed is for good men to do nothing."
Two things a man should maintain to the highest degree
credibility and reputation
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