Got pre-aproved for a line of credit for 20g's

[HarryPotter]

best idea ever, do it.

+1

[KirkerBezerker]

Don't say you know me or my situation from some hypothetical questions I've asked

You are the fakest motherfucker ever! Every single one of your posts is about how your about to buy this or that or how you wanna buy a merc for your girlfriend. You desperately want for everyone here to know how rich you are (oooh, a Rockafeller?") when in reality your a 19 year old moron.

It's very easy to see threw your bullshit.

[ethirtydavid]

Credit is not a measure of debt..
Credit is a measure of trust. This trust is earned or denied from borrowing into debt and is affected by the manor which it is repaid.

[Jand3rson]

The "knowledge" that the people on here have is unbiased and free. If you want to pay someone who is looking to make a commission for their biased advice go ahead. You can get real, quality information from the internet or a public library - but it seems as if people hate to leave their right to piss money away unutilized. By that same logic we should all have our cars restored by professional mechanics. Hell, why not pay them in borrowed money? We can turn our 4k cars into a 50k investment. Leave it to the pros....

I knew it wouldn't take long for someone to take that personally.

[ck_taft325is]

Who here has 0 debt?

[Turf1600]

Who here has 0 debt?

Me. I have 3 cards in my wallet: My driver's license, my elevator card for my building and my debit card.

I knew it wouldn't take long for someone to take that personally.

Nothing personal - just making a counter point.

Credit is not a measure of debt..

Credit is a measure of trust. This trust is earned or denied from borrowing into debt and is affected by the manor which it is repaid.

Did you read any of what I wrote? Only 35% of your score is payment history.

[hi its me alec]

I've been in the situation for a while now where I've thought about getting a credit card to free up some spending money for myself. My parents are broke and barely squeaking by, I'm super broke and $2k in debt, dad and I don't have jobs. I need to drive my car, get a few things fixed, etc. My 2 viable options to get that done are 1.) job or 2.) credit. Someone in school might not see the job in their relatively near future.

I'm not in school, still looking hard for a job... so far I've been holding out for as long as possible without incurring more than $2k debt, and buying things as needed. $20k would scare the crap out of me..

[LBJefferies]

Who here has 0 debt?

Just a few grand left in student loans then i'm golden.

[ck_taft325is]

I've been in the situation for a while now where I've thought about getting a credit card to free up some spending money for myself. My parents are broke and barely squeaking by, I'm super broke and $2k in debt, dad and I don't have jobs. I need to drive my car, get a few things fixed, etc. My 2 viable options to get that done are 1.) job or 2.) credit. Someone in school might not see the job in their relatively near future.

I'm not in school, still looking hard for a job... so far I've been holding out for as long as possible without incurring more than $2k debt, and buying things as needed. $20k would scare the crap out of me..

It happens. Life happens. The hard line preaching that all credit cards and anyone that holds them are scum is ridiculous bullshit. If you have to sink or swim in some debt, swim away. You can always get on your feet and sometimes that cushion is there for that exact reason. I personally have some debt that needs to be paid off. My wife and I have a VERY good credit score, for a reason, and have had to use our cards more than we feel comfortable with in the last two years. Shit happens.

I applaud you Turf, for not having any debt or credit cards. Sometime's, life happens you gotta do what you gotta do. Which you'll agree with but I just want you to know you sounded like a douchey-bitch.

[Turf1600]

I've been in the situation for a while now where I've thought about getting a credit card to free up some spending money for myself. My parents are broke and barely squeaking by, I'm super broke and $2k in debt, dad and I don't have jobs. I need to drive my car, get a few things fixed, etc. My 2 viable options to get that done are 1.) job or 2.) credit. Someone in school might not see the job in their relatively near future.

I'm not in school, still looking hard for a job... so far I've been holding out for as long as possible without incurring more than $2k debt, and buying things as needed. $20k would scare the crap out of me..

This is a no brainer. How the hell do you expect to borrow money if you have no way to pay it back?

[Turf1600]

It happens. Life happens. The hard line preaching that all credit cards and anyone that holds them are scum is ridiculous bullshit. If you have to sink or swim in some debt, swim away. You can always get on your feet and sometimes that cushion is there for that exact reason. I personally have some debt that needs to be paid off. My wife and I have a VERY good credit score, for a reason, and have had to use our cards more than we feel comfortable with in the last two years. Shit happens.

I applaud you Turf, for not having any debt or credit cards. Sometime's, life happens you gotta do what you gotta do. Which you'll agree with but I just want you to know you sounded like a douchey-bitch.

In regards to people being "Scum", that's nonsense. The only reason I'm as interested in the subject as I am is because I learned it the hard way. I paid down over 50k in debt - cars and taxes included. If the result is that I sound like a "douchey-bitch" then I'll have to live with that. Furthermore, life does happen. That's why I was encouraging the guy to build up some emergency money. Having an emergency fund prevents debt from occuring.

[LBJefferies]

Credit is a great tool for reliable people to use for emergencies and investment. There is a sweet spot where the debtor makes a reasonable payment and pays off the debt in a reasonable amount of time while at the same time paying enough interest to make the investment a good one for the creditor. These sorts of situations are a win win and are what keep our economy growing. The problem is when you have greedy creditors who encourage ignorant debtors to purchase non-essential items, or make bad investments just for the sake of enslaving them with high interest payments.

[Matt-B]

So how much have you guys spent on your e30's? (not motor swapped)

More then you can afford pal...

[ck_taft325is]

In regards to people being "Scum", that's nonsense. The only reason I'm as interested in the subject as I am is because I learned it the hard way. I paid down over 50k in debt - cars and taxes included. If the result is that I sound like a "douchey-bitch" then I'll have to live with that. Furthermore, life does happen. That's why I was encouraging the guy to build up some emergency money. Having an emergency fund prevents debt from occuring.

Or you could put a tiny bit of effort into not sounding like a douchey-bitch.

[Fusion]

I laugh when car owners cry about debts and unemployment.
When I ordered my first batch of goods for resale about 5 years ago, instead of begging a bank to sponsor my ass, I sold the car I had at the time. That is an investment. Since then I've bought many cars, never borrowed a penny and all the money comes from that first sold car.

This is one of the reasons why I don't agree with people having "a relationship" with their cars.
Borrowing money for something that has no ROI and can't atleast pay off the amount + interest is just plain retarded. Electronics, food, vacations, etc. The only time I would get car financing is if it was to get me to a job, if there was no other way to get there, or starting a business.
Take a 2000$ TV for example. Borrowing to buy it will probably boast the end price to somewhere around 2600 and what is the resale value in 5 years? Like 300$? So you're paying 2600 for a 300 dollar POS you don't need.