It can be somewhat intimidating for someone who was (in the past) less than wise with his money (read: me).
Buying a house solved the excessive spending issue though.
Let me get some words of advice - Credit Cards.
- Thread starter Iridemtb
- Start date
Buying a house solved the excessive spending issue though.
Well, I talked to my parents about it when they asked because they heard I was pursuing a card. They said they would be kind enough to sign for it and offered without me even asking to do so. SCHWING! haha. I guess it'll just be a matter of months until I get my credit moving and I can get their name off of it (I think, I have to ask the important details tomorrow over the phone).
I am assuming that they will be accepted too seeing they haven no debt (house is almost paid off apparently so aside from that), and they have near perfect credit.
I am assuming that they will be accepted too seeing they haven no debt (house is almost paid off apparently so aside from that), and they have near perfect credit.
Actually, debit can be worse in a few situations.
Hit your limit with credit, they usually shut off your account and you don't get to charge anymore. Hit your limit with debit on an account with overdraft? They'll let you keep going, and hit you with an overdraft fee over and over again.
Fraud on your card? With credit your liability is $50. Debit, depends on how long it takes to notice, and if it's long enough, you're liable for everything.
Fraud again. It's easier to refuse to pay money to the credit card company than to convince the bank that they should put money back in your account.
People act like credit cards are these magically evil things that automatically suck your accounts dry and force you to spend more than you have. They're just financial tools. A table saw can cut your fingers off. That doesn't mean it shouldn't be used. It means you shouldn't stick your hand in the thing.
We put every thing on our credit cards and pay them off each month. My REI card is good for about $300-$400 a year (good only at REI until July then you can cash it) and our Chase Freedom cards are good for about $500 (cash) a year (it used to be better). I don't mess with points / miles nonsense nor do I believe in paying a fee. Cash only please. I only use my debit card to get cash.