Credit Cards

[wdfifteen]

Originally Posted by Alan A

Well that fictional number, unfortunately, determines things like whether you can get a mortgage. There are also some industry verticals that use it to determine whether they will offer you employment.
So work of fiction or not, cash, credit or debit user, it can still affect you materially.

I know. It's a rigged system, legal, but as crooked as a ponzi scheme.

[KFC911]

I've had my credit frozen at all three agencies for at least 15 yrs now...Equifax is the only one I've ever had to "unfreeze" for something. I checked my credit score a few years back....'cause I became curious....825....pretty sure it hasn't changed.

I have credit....just no CCs...no need.

[JackDidley]

Originally Posted by Starless

We use a CC for EVERYTHING that doesn't have a surcharge on it for using a card, like our electric bill and taxes. Pay off every month in full and at the end of the year we average @ $1500 in cash back. Why would i use cash?

I too use credit cards for near everything. Get around $500 cash back per year. Pay no interest. Also faster checking out than cash. No waiting for the cashier to count out $14.27 in change from that $20. Total win.

[wdfifteen]

Originally Posted by peteremsley

Credit Karma are obviously trying to sell me a different or better kind a credit - card, car loan, mortgage or..., but do they provide bad info? never heard that before, and I've certainly never paid them a penny. Do you know anyone that has paid?

No, I didn't know Credit Karma was just a hook to sell you something else. Experian and the others charge $20+ dollars a month for the service.
It would be interesting to compare Credit Karma's free report with a $20 per month report.

[KFC911]

Guys....don't waste your $ on these "$ervices". Freeze your credit at the three agencies (Lifelock....nope), get one free credit report every year from one of 'em (Equifax), and pay them the one time charge of 10-15 bucks if ya want to pi$$ away $ and see a REAL credit score that actually matters. That is...if you care about credit THAT much , and you should...hth....seriously.

I existed for decades without knowing or caring about the actual #....because I KNEW my history

....I don't use cash much....debit is me....DIM

[tabs]

You folks are delusionally living through the biggest ponzi scheme the world has ever seen...and it will be the biggest bust the world has ever seen to.

[KFC911]

Originally Posted by tabs

You folks are delusionally living through the biggest ponzi scheme the world has ever seen...and it will be the biggest bust the world has ever seen to.

i could either "check out" in fear or get a pup....what's yer plan ?

[tabs]

Originally Posted by KC911

i could either "check out" in fear or get a pup....what's yer plan ?

There is nothing that you can do to stop it..having the heads up keeps you from being caught up in the bs. It increases your survivability.

Only thing you can do is have a piece of land to grow you own, have some gold, silver and weapons to protect yourself. Hope for the best.

[KFC911]

Originally Posted by tabs

There is nothing that you can do to stop it..having the heads up keeps you from being caught up in the bs. It increases your survivability.

Only thing you can do is have a piece of land to grow you own, have some gold, silver and weapons to protect yourself. Hope for the best.

You forgot water....bring yer smoker and head my way when the shtf fan Tabby Little....we got the petty $tuff covered boyz

[widebody911]

Originally Posted by wdfifteen

I know. It's a rigged system, legal, but as crooked as a ponzi scheme.

At least with a Ponzi scheme you know how it's structured and you can elect to leave or not join in the first place.

[stomachmonkey]

Originally Posted by wdfifteen

You can go straight to Experian, Transunion, and Equifax free once a year. Who needs to take the temperature of those dubious determinations of their credit worthiness more than once a year anyway? They do dream up credit scores which you have to pay to see. Pretty shady business if you ask me. They collect your personal information, come up with some arbitrary evaluation of it, and then charge you to see what they think of you. And then we have outfits like Credit Karma, who will sell you even easier access to this totally fictional information. Buncha crap if you ask me.

I use Credit Karma, it does seem to track my FICO with what I get on my banking statements.

My score also fluctuates regularly based on purchases.

I do a lot of business purchases so often within a month my usage pushes limit utilization and the score reflects that.

You also want to check more than once a year to keep an eye on identity theft.

One open fraud account can do a lot of damage in a very short period of time.

I check Credit Karma weekly.

[CurtEgerer]

One of the drawbacks to a CC, even for those very few who pay off their debt monthly, are the incentives, cash back,etc. Obviously, an incentive is designed to get you to use the card, often for things you wouldn't otherwise buy. This is particularly true for Store CCs - i.e., if I buy just 2 more pairs of shoes, I'll get $20 in Kohl's Cash to buy even more stuff I don't need! Debit only for me. I like the simplicity - this is how many pesos I have in my pocket right now, so do I really need to buy this [insert name of useless crap you don't need] today?

[Dantilla]

Originally Posted by stomachmonkey

I check Credit Karma weekly.

I haven't checked my credit score in years.

[Captain Ahab Jr]

As always some very interesting answers and views

Just checked my credit score, think I need to start living on credit cards and beyond my means

[Por_sha911]

Originally Posted by tabs

You folks are delusionally living through the biggest ponzi scheme the world has ever seen...and it will be the biggest bust the world has ever seen to.

[mepstein]

One of the nice things about a credit card is how you are protected from scams. Someone steals your number and runs up the charges, just call your ccc and let them know the charges aren't yours. It all gets reversed. Mine doubles the warranty on most purchases and gives me cash back.

Years ago we purchased skis and boots on our card. Went skiing locally for a tune up day before heading out west. Skis and boots were stolen from our car while we had dinner near the slopes. Faxed the ccc a copy of the police report and they refunded all our money back onto the card. Had time to repurchase everything before the big trip.
Our local ski shop sure liked us that year.

[93nav]

My thoughts exactly.

Originally Posted by CurtEgerer

One of the drawbacks to a CC, even for those very few who pay off their debt monthly, are the incentives, cash back,etc. Obviously, an incentive is designed to get you to use the card, often for things you wouldn't otherwise buy. This is particularly true for Store CCs - i.e., if I buy just 2 more pairs of shoes, I'll get $20 in Kohl's Cash to buy even more stuff I don't need! Debit only for me. I like the simplicity - this is how many pesos I have in my pocket right now, so do I really need to buy this [insert name of useless crap you don't need] today?

[RKDinOKC]

I have three accounts at my bank. One is my standard account that is autodeposited into. It has checking and savings, and no cards. The second account that has a Visa Debit card. i transfer my budgeted monthly bill budget into that account and only use that card to pay recurring bills.

My third account has my Visa Debit card that I buy everything else with, gas, groceries travel. I tranfer just enough money to cover my expected expenses. I has the same protection as a credit card, but will refuse charges if there is no money in the account. So not only am I protectected, they card theives don;t get much money either. Cause you know credit cards getting paid back for stolen card charges come from somewhere! The real plus is that if this card is stolen I don;t have to go thru and re-settup my revolving charges with a new card number.

The only drawback is no cash rewards.

[KFC911]

I don't chase CC "rewards", nor have I ever clipped a coupon, etc. for the grocery store line....I get by...YMMV and always does.

[GH85Carrera]

Originally Posted by KC911

I don't chase CC "rewards", nor have I ever clipped a coupon, etc. for the grocery store line....I get by...YMMV and always does.

Total up all your spending on purchases that can be done with a credit card. It will likely be several thousand dollars per year. 2% of that comes back to you as cash. When you ant to, apply it to the next month's credit card bill. That is the money you did not have to spend to pay your credit card.