Nonsense Thread

[ParsedOut]

I'm 19 and my parents are both 54 don't own any credit cards, own 2 houses, and only have a mortgage on one house. They pay for everything with cash and so do my grandparents. My dad owns a small business and my mom is an elementary school teacher. They don't make a ton of money but they don't have to be in debt to have a nice life and to purchase things. And instead of using a credit card for emergencies they have a savings account for emergencies. Its about 3 months of their income saved up and they only use it for emergencies and nothing else.

As others have said, if you don't plan to live in a hole for the rest of your life you'd be well served to build some decent credit. That doesn't mean you need to spend beyond your means, it simply shows you are responsible with credit and that lending institutions can trust you with their money when/if the time comes. Get a credit card, use it for gas/groceries and pay it off every month. Get a credit card for new tires and pay it off before the 0% interest runs out. Get a $5k car loan for a "nice beater" and pay it off in a year. These simple things will build a large amount of credit with lenders. You don't have to sell your well founded beliefs of staying out of debt to "play the game" that is more or less required nowadays.

[Northern]

I'm 19 and my parents are both 54 don't own any credit cards, own 2 houses, and only have a mortgage on one house. They pay for everything with cash and so do my grandparents. My dad owns a small business and my mom is an elementary school teacher. They don't make a ton of money but they don't have to be in debt to have a nice life and to purchase things. And instead of using a credit card for emergencies they have a savings account for emergencies. Its about 3 months of their income saved up and they only use it for emergencies and nothing else.

Good luck buying a house without credit until you're the age your parents are now, unless they buy it for you.

Actually, good luck buying anything really, especially online.

[Luke Girard]

Good luck buying a house without credit until you're the age your parents are now, unless they buy it for you.

Actually, good luck buying anything really, especially online.

I buy everything online..... Debit card anybody? Same as credit card but it's your money not borrowed money? I can use it exactly like a credit card but I have the money to back it up. It's not a bank backing me up.

Sent from my DeLorean

[ParsedOut]

I buy everything online..... Debit card anybody? Same as credit card but it's your money not borrowed money? I can use it exactly like a credit card but I have the money to back it up. It's not a bank backing me up.

Sent from my DeLorean

Uhg, did you even read what I said 3 posts up? Sometimes it's not even worth trying to help...dense people are dense.

[lambo]

I won't lie. I think the whole "credit" situation is kinda fucked.

Why should I have to "borrow" money to prove that I am an upstanding individual?

[rturbo 930]

I buy everything online..... Debit card anybody? Same as credit card but it's your money not borrowed money? I can use it exactly like a credit card but I have the money to back it up. It's not a bank backing me up.

Sent from my DeLorean

You can use a credit card the same way... don't spend more than you actually have, pay it off at the end of each month.

Why do I get the feeling your parents have been telling you about the 'horrors' of credit cards?

I won't lie. I think the whole "credit" situation is kinda fucked.

Why should I have to "borrow" money to prove that I am an upstanding individual?

Yeah, it's kinda fucked... but how else are they going to know they can trust you with their money? You never really know if someone is an 'upstanding individual' until they've got your money.

[Kevinl]

No credit is worse then bad credit you cant even get a real cell phone without credit

And you can forget ever buying a house they wont give somebody a couple hundred grand who has no history of paying anything back

[Luke Girard]

You can use a credit card the same way... don't spend more than you actually have, pay it off at the end of each month.

Why do I get the feeling your parents have been telling you about the 'horrors' of credit cards?

Yeah, it's kinda fucked... but how else are they going to know they can trust you with their money? You never really know if someone is an 'upstanding individual' until they've got your money.

No credit is worse then bad credit you cant even get a real cell phone without credit

And you can forget ever buying a house they wont give somebody a couple hundred grand who has no history of paying anything back

Umm talk to Dave Ramsey. I took his class and that's what get said. He has millions of dollars, owns tons of real estate, and has a credit score of 0. So do his kids and all the people that work for him. A credit score of 0 is the best score to have. No debt ever. I don't care what anybody says about how I have to have credit to do anything with my life because it's not true.

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[slaterd]

Exactly what was said before. If you are already using your debt card to pay bills and everything why not just use a credit card. You get 2 things out of 1 purchase. Also you get rewards points. They aren't really useful for big things but you still get something more than just simply spending money. Plus, also as mentioned, if you pay off your balance before the interest accrues then there's no penalization (interest) charged. If you have to spend the money then you might as well do it through credit. At least then you get to build some credit AND get some rewards out of it instead of just spending money. I hope your sheer resistance to jumping in the credit pool isn't because you don't want to feel like the man has ahold of you. Well, also as mentioned, NO CREDIT IS WORSE THAN BAD CREDIT. So you're actually worse off. Just get a credit card through your bank and pay your bills with it. If you're already responsible with spending your money then this shouldn't be any different...actually it's not different at all other than the perks.

[Kevinl]

oh so you are rich and you are going to buy the house cash

I listen to Dave Ramsey too but you are not buying a house with a 0 credit score

Are you going to go to college? Paying cash for that too?

[lambo]

Yeah, it's kinda fucked... but how else are they going to know they can trust you with their money? You never really know if someone is an 'upstanding individual' until they've got your money.

Very true. It only takes a few bad apples to ruin it for the rest of us.

[flyboyx]

Umm talk to Dave Ramsey. I took his class and that's what get said. He has millions of dollars, owns tons of real estate, and has a credit score of 0. So do his kids and all the people that work for him. A credit score of 0 is the best score to have. No debt ever. I don't care what anybody says about how I have to have credit to do anything with my life because it's not true.

Sent from my DeLorean

just because he doesn't owe anyone anything doesn't mean his credit score is zero. the amount of money he owes is probably zero. trying to come across as a zero credit score is bull shit.

[ParsedOut]

uhg, did you even read what i said 3 posts up? Sometimes it's not even worth trying to help...dense people are dense.

qft :)

[15Michaeljoseph]

If i ever win the lottery, I'm taking out a gigantic loan and paying it back ASAP. Free credit. boom.


--Mike

[Luke Girard]

oh so you are rich and you are going to buy the house cash

I listen to Dave Ramsey too but you are not buying a house with a 0 credit score

Are you going to go to college? Paying cash for that too?

Yes? My parents saved up money to pay for college so I don't have any loans. And no I'm not going to buy a house with cash but I'll bring the down payment in cash. You guys can have credit cards I'm never going to get one no matter what they offer me.

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