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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Got approved for a credit card!
    #22489141 - 11/07/15 03:03 AM (8 years, 2 months ago)

300 dollar credit line!

You know what Hillary says, "Suck my clit and balls!"


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead] * 1
    #22489147 - 11/07/15 03:11 AM (8 years, 2 months ago)

Good for you man, good way to get started just handle it responsibly and it'll help your out in life.


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OfflineCokeNasmilee
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Registered: 08/20/11
Posts: 237
Last seen: 6 years, 5 months
Re: Got approved for a credit card! [Re: The Moose] * 3
    #22489148 - 11/07/15 03:13 AM (8 years, 2 months ago)

I'm 30 with no credit cards at all. Loving life much more. lol


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InvisibleCloud9
I don't feel, and it feels great
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Folding@home Statistics
Registered: 07/03/03
Posts: 1,554
Loc: between here and there
Re: Got approved for a credit card! [Re: The Moose]
    #22489149 - 11/07/15 03:13 AM (8 years, 2 months ago)

i'm looking to get a similar one this month to start building credit. seems like a solid plan.


--------------------


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: Cloud9]
    #22489151 - 11/07/15 03:15 AM (8 years, 2 months ago)

go capital one.

I got approved in 5 minutes :thumbup:


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489154 - 11/07/15 03:16 AM (8 years, 2 months ago)

I got a wells fargo cash back card and I'm 18. Helps to establish early cuz my score is like 700 and I had to buy a new car on loan which was helpful


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InvisibleCloud9
I don't feel, and it feels great
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Folding@home Statistics
Registered: 07/03/03
Posts: 1,554
Loc: between here and there
Re: Got approved for a credit card! [Re: The Moose]
    #22489156 - 11/07/15 03:19 AM (8 years, 2 months ago)

i bought a new car last week but didn't have the credit, which is what has prompted me to start building it. i also have 900$ in debt left to pay off before being debt free.

ideally i'd like to get a card in a year or so to start building miles for travel.


--------------------


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OfflineThe Moose
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Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Cloud9]
    #22489163 - 11/07/15 03:26 AM (8 years, 2 months ago)

Yea I bought a car about 2 weeks ago. So now I'm about 5.2K in debt and my father signed with me. IMO it's always better to at least have the credit if you need it, rather than have no credit history and be fucked.


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OfflineShroomslip
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Registered: 11/25/12
Posts: 23,651
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Re: Got approved for a credit card! [Re: Shiithead]
    #22489165 - 11/07/15 03:30 AM (8 years, 2 months ago)

So before I go posting what I originally planned, let me ask two questions.. Is this mostly just to build credit? If it is to build credit, are you already using other means to do so (such as bank loan)?


--------------------
With my face against the floor I can’t see who knocked me out of the way.
I don’t want to get back up but I have to so it might as well be today.
Nothing appeals to me no one feels like me, I’m too busy being calm to disappear.
I’m in no shape to be alone contrary to the shit that you might hear.


You can't wake up, this is not a dream. You're part of a machine, you are not a human being
With your face all made up, living on a screen. Low on self esteem, so you run on gasoline


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: Shroomslip]
    #22489170 - 11/07/15 03:38 AM (8 years, 2 months ago)

Yes

No

The card is to build credit to one day get a bank loan though.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489174 - 11/07/15 03:42 AM (8 years, 2 months ago)

It'll help you out if you just spend like $20 and immediately pay it off.

Personally I just charge any bills to my CC (car insurance, car paymt, cell phone payment) and pay it off every month and I'm covered. I have like a $1500 limit so I make sure it's paid every month and I'm set


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: The Moose]
    #22489179 - 11/07/15 03:46 AM (8 years, 2 months ago)

I don't thinks it's good to pay it off quick to build credit. If you pay in payments it builds credit faster and lets the credit bureaus know you're a sucker and willing to borrow money and pay interest on that money.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489182 - 11/07/15 03:48 AM (8 years, 2 months ago)

To each their own, but I've always heard it is best to keep your statement at zero each month :shrug:


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: The Moose]
    #22489183 - 11/07/15 03:51 AM (8 years, 2 months ago)

You can do that and still make payments. At least 2 a month to show you are paying it off when you get your paychecks and that you have a budget in order to keep making payments.

4 at most if you get paid weekly.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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OfflineMichAnon.ael
Dark Stranger
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Registered: 12/15/14
Posts: 892
Last seen: 6 years, 11 months
Re: Got approved for a credit card! [Re: The Moose] * 1
    #22489187 - 11/07/15 03:55 AM (8 years, 2 months ago)

Yeah! Cuz apr's like 20% haha! But pay them for loaning you 20 bucks it's cool. Making up debt is the way our system works!
:cookiemonster:


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OfflineThe Moose
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Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489189 - 11/07/15 03:57 AM (8 years, 2 months ago)

Honestly I'm not 100% on it. Personally I try and pay 100% while I charge my car insurance, car payment and my cell phone paymcardent to the same card


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OfflineShroomslip
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Registered: 11/25/12
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Re: Got approved for a credit card! [Re: Shiithead]
    #22489193 - 11/07/15 03:59 AM (8 years, 2 months ago)

That at least clears up one aspect of what I was going to say.. That 300 dollars is absolute shit and I don't know why anyone even consider taking it. That limit is so low, it can't be used to get the stuff you need but can't afford to pay up front and can be spent frivolously in a single day easily. It's like telling them "here take my money from me".

If you want to build your credit there are other ways and better ways. One is getting a bank loan and paying it off on their plan, if the plan is for 12 months, you pay it off in 12 months regardless of whether you get the disposable income  2 months in. Becasue..
Quote:

The Moose said:
It'll help you out if you just spend like $20 and immediately pay it off.




This is wrong. You don't build credit (or much anyways) by taking out a loan (bank or credit card) and paying it off immediately. You build credit by making steady payments. The whole idea behind credit is that you can be trusted to make regular payments on whatever good/service they gave you. Someone gives you a credit line, they want to know you're reliable and will pay it off.

Diversfication is another thing that can help improve your credit score. The more lines of credit/loans you can take out and keep paying, the better off you are. This can fuck you over if you're not smart about it. The smart thing to do is to always save up enough money you will not touch for any reason, and then taking out a line of credit equal to that amount. If things go to shit and you lose your job or whatever (ideally you had already built up another lump of money to see you through that as well) you still have the funds to pay it off and not hurt your credit. Pay them all off that day to avoid temptation and start thinking "I'll get a job soon enough I can handle things for now".


--------------------
With my face against the floor I can’t see who knocked me out of the way.
I don’t want to get back up but I have to so it might as well be today.
Nothing appeals to me no one feels like me, I’m too busy being calm to disappear.
I’m in no shape to be alone contrary to the shit that you might hear.


You can't wake up, this is not a dream. You're part of a machine, you are not a human being
With your face all made up, living on a screen. Low on self esteem, so you run on gasoline


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InvisibleShiithead
Your Huckleberry
Male User Gallery


Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: Shroomslip]
    #22489196 - 11/07/15 04:01 AM (8 years, 2 months ago)

Sound advice.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


Extras: Filter Print Post Top
OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shroomslip]
    #22489197 - 11/07/15 04:03 AM (8 years, 2 months ago)

Yea 'slip I see what you mean.

Personally I've always been told my dad that the best way is to keep my CC montly statement at zero though :shrug:


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
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Re: Got approved for a credit card! [Re: The Moose] * 1
    #22489201 - 11/07/15 04:06 AM (8 years, 2 months ago)

Your father has no balls.

Break the cycle.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


Extras: Filter Print Post Top
InvisibleCloud9
I don't feel, and it feels great
Male User Gallery

Folding@home Statistics
Registered: 07/03/03
Posts: 1,554
Loc: between here and there
Re: Got approved for a credit card! [Re: The Moose]
    #22489202 - 11/07/15 04:07 AM (8 years, 2 months ago)

yea i also read that letting it go for a month or two is better for building credit, making those payments is what establishes it, keeping it at zero each month just takes longer to build that way.


--------------------


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OfflineThe Moose
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Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489205 - 11/07/15 04:11 AM (8 years, 2 months ago)

Quote:

Shiithead said:
Your father has no balls.

Break the cycle.




WOAAH :doublefu:


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: The Moose]
    #22489210 - 11/07/15 04:18 AM (8 years, 2 months ago)

jk :hug:


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


Extras: Filter Print Post Top
OfflineThe Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
Re: Got approved for a credit card! [Re: Shiithead]
    #22489215 - 11/07/15 04:21 AM (8 years, 2 months ago)

:hug:

I'm absolutely fuckin trashed on a thurdays night lol


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InvisibleShiithead
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: The Moose] * 2
    #22489217 - 11/07/15 04:22 AM (8 years, 2 months ago)

its Saturday morning friend

:cookiemonster:


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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InvisibleBodhi of Ankou
*alternate opinion blocks path*
Other

Registered: 06/02/09
Posts: 24,778
Loc: Soviet Canukistan Flag
Re: Got approved for a credit card! [Re: Shiithead]
    #22489361 - 11/07/15 06:55 AM (8 years, 2 months ago)

OPs credit scores gonna go from700 to 0 real quick.


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OfflinePatlal
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Re: Got approved for a credit card! [Re: Shiithead]
    #22489491 - 11/07/15 08:01 AM (8 years, 2 months ago)

Quote:

Shiithead said:
300 dollar credit line!

You know what Hillary says, "Suck my clit and balls!"




Learn how to use it. Otherwise you'll fuck up.


--------------------


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: Got approved for a credit card! [Re: Shroomslip]
    #22489743 - 11/07/15 09:17 AM (8 years, 2 months ago)

Quote:

Shroomslip said:
If you want to build your credit there are other ways and better ways. One is getting a bank loan and paying it off on their plan, if the plan is for 12 months, you pay it off in 12 months regardless of whether you get the disposable income  2 months in. Becasue..
Quote:

The Moose said:
It'll help you out if you just spend like $20 and immediately pay it off.




This is wrong. You don't build credit (or much anyways) by taking out a loan (bank or credit card) and paying it off immediately. You build credit by making steady payments. The whole idea behind credit is that you can be trusted to make regular payments on whatever good/service they gave you. Someone gives you a credit line, they want to know you're reliable and will pay it off.






Why do you think this is wrong?  I pay off my credit cards every month, never had a bank loan of any kind.  My credit score is over 800.  I have a 20k limit on my credit card with a 5% interest rate. 

Taking a bank loan to get a better credit score might technically work, but its just plain fiscally stupid.


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Offlinenicechrisman
Interdimensional space wizard
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Registered: 11/07/03
Posts: 33,241
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Re: Got approved for a credit card! [Re: Shiithead]
    #22489762 - 11/07/15 09:21 AM (8 years, 2 months ago)

It's a trap!


--------------------
"Cosmic Love is absolutelely ruthless and highly indifferent:
it teaches its lessons whether you like/dislike them or not."

John C. Lily

 


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Shiithead]
    #22489866 - 11/07/15 09:41 AM (8 years, 2 months ago)

Quote:

Shiithead said:
go capital one.

I got approved in 5 minutes :thumbup:





I keep getting those in the mail, I keep sending them back with a message that
reads "when you offer me 8% on a $10,000 credit line then I'm willing to talk"


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: nicechrisman]
    #22489869 - 11/07/15 09:42 AM (8 years, 2 months ago)

Quote:

nicechrisman said:
It's a trap!







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Offlinenicechrisman
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22489875 - 11/07/15 09:43 AM (8 years, 2 months ago)

I used to get SO fucking much junk mail from Capitol one that I will never do business with them. It got to the point where I was getting like 3 mailings a week from them. I started ripping out the part with my information and stuffing their BS back in the SESE and mailing it back to them.


--------------------
"Cosmic Love is absolutelely ruthless and highly indifferent:
it teaches its lessons whether you like/dislike them or not."

John C. Lily

 


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: nicechrisman]
    #22489905 - 11/07/15 09:52 AM (8 years, 2 months ago)

Quote:

nicechrisman said:
I started ripping out the part with my information and stuffing their BS back in the SESE and mailing it back to them.





that's kinda how I've been doing it, at least that way it costs them


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: Got approved for a credit card! [Re: DieCommie]
    #22489991 - 11/07/15 10:12 AM (8 years, 2 months ago)

Quote:

DieCommie said:

Why do you think this is wrong?  I pay off my credit cards every month, never had a bank loan of any kind.  My credit score is over 800.  I have a 20k limit on my credit card with a 5% interest rate. 

Taking a bank loan to get a better credit score might technically work, but its just plain fiscally stupid.




No shit? Mines 22k at 4.1%. Took 16 years of building credit to get that and another to 15.5k. A few car loans here and there, steady payment of bills, never missed a beat. What I'll ever do with 37k credit line I don't know. We are above 800 but I only run my free yearly experian/transunion/equifax. I don't trust scores.

My credit union won't leave me the fuck alone about my auto loan. It's nice that it's at like 2.5% but it's still not better. Last time they called they started talking about a loan for a house. It's like Jesus Christ just call me for fraud protection and fuck off.

I'm only carrying a car loan to build credit. I mean why not, the interest is pennies on the dollar. I only put 100k in this credit union why do they think I need their money.


Edit speeling and Maths


Edited by Adden (11/07/15 10:18 AM)


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: Got approved for a credit card! [Re: Adden]
    #22490003 - 11/07/15 10:15 AM (8 years, 2 months ago)

My wife's credit card has a higher limit and a lower rate.  Even though I somehow have a higher credit score...


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: Got approved for a credit card! [Re: DieCommie]
    #22490027 - 11/07/15 10:21 AM (8 years, 2 months ago)

I've been meaning to ask for a stronger line of credit on the 22k platinum plus rewards Visa. It is a nice card. It's rewards got shittier over the years though. If you manage it right, they're paying you to use their card.

I have some friends that work in banking and finance. You know what they call people who pay off their balance? Deadbeats. :thumbup:

Lana said the best thing in Money Matters: banks and credit card companies only give money to people with money. Boy ain't that true when we were in our 40 degree house with no propane when we were poor and it was $7/gallon with a minimum purchase of 300 gallons. Jeeze.

That's why I ended up selling all of my silver (thank god I did when I did). Propane literally went from like a buck eighty nine to 7.67 or some such overnight. I was going to fill it the week before and was busy with work then boom. Fucked, starving, in -60 temps, love it.


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: DieCommie]
    #22490478 - 11/07/15 11:59 AM (8 years, 2 months ago)

Quote:

DieCommie said:
My wife's credit card has a higher limit and a lower rate.  Even though I somehow have a higher credit score...





SEXISM. DESTROY THE PATRIARCHY!


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Invisibletrees
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Registered: 02/08/09
Posts: 9,194
Re: Got approved for a credit card! [Re: Prisoner#1]
    #22490489 - 11/07/15 12:02 PM (8 years, 2 months ago)

If your not careful like hundreds of millions of people, you'll become a real modern slave.


--------------------


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: trees]
    #22490496 - 11/07/15 12:03 PM (8 years, 2 months ago)

Quote:

trees said:
If your not careful like hundreds of millions of people, you'll become a real modern slave.





um... no.


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Invisibletrees
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22490509 - 11/07/15 12:07 PM (8 years, 2 months ago)

Quote:

Prisoner#1 said:
Quote:

trees said:
If your not careful like hundreds of millions of people, you'll become a real modern slave.





um... no.




No? As if the billions of dollars that's owed to credit card companies doesn't matter?


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: trees]
    #22490520 - 11/07/15 12:10 PM (8 years, 2 months ago)

Quote:

trees said:
Quote:

Prisoner#1 said:
Quote:

trees said:
If your not careful like hundreds of millions of people, you'll become a real modern slave.





um... no.




No? As if the billions of dollars that's owed to credit card companies doesn't matter?





owing money to a financial institution doesnt make you a slave


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Invisibletrees
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22490528 - 11/07/15 12:12 PM (8 years, 2 months ago)

Quote:

Prisoner#1 said:
Quote:

trees said:
Quote:

Prisoner#1 said:
Quote:

trees said:
If your not careful like hundreds of millions of people, you'll become a real modern slave.





um... no.




No? As if the billions of dollars that's owed to credit card companies doesn't matter?





owing money to a financial institution doesnt make you a slave




I know a few slaves personally.  If they don't pay a certain amount of their debt back each month they will literally get sent to prison.


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Re: Got approved for a credit card! [Re: trees]
    #22490541 - 11/07/15 12:15 PM (8 years, 2 months ago)

Quote:

trees said:
I know a few slaves personally.  If they don't pay a certain amount of their debt back each month they will literally get sent to prison.





do you now... would that be credit card debt or is it probation supervision fees
and restitution/fines for crimes they've comitted


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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22490556 - 11/07/15 12:19 PM (8 years, 2 months ago)

They over spent a rediculous ammount on their credit cards thinking it was chill. They couldn't pay any of it back because they were retards. Now they are forced to pay 700 bucks or something a month. If they don't pay they get tracked down and arrested.


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Re: Got approved for a credit card! [Re: trees] * 1
    #22490559 - 11/07/15 12:20 PM (8 years, 2 months ago)

Quote:

trees said:
They over spent a rediculous ammount on their credit cards thinking it was chill. They couldn't pay any of it back because they were retards. Now they are forced to pay 700 bucks or something a month. If they don't pay they get tracked down and arrested.





so they committed fraud


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Re: Got approved for a credit card! [Re: trees]
    #22490561 - 11/07/15 12:21 PM (8 years, 2 months ago)

Quote:

trees said:
I know a few slaves personally.  If they don't pay a certain amount of their debt back each month they will literally get sent to prison.




That is a lie.  Nobody goes to prison for not paying their debt.  That practice ended long, long ago.  Also, bankruptcy was invented to protect these very people from being forced onto the street for not paying their debt.  They are well protected from creditors at every angle.


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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22490592 - 11/07/15 12:27 PM (8 years, 2 months ago)

Quote:

Prisoner#1 said:
Quote:

trees said:
They over spent a rediculous ammount on their credit cards thinking it was chill. They couldn't pay any of it back because they were retards. Now they are forced to pay 700 bucks or something a month. If they don't pay they get tracked down and arrested.





so they committed fraud




Maybe that's it but it seems to be fraud caused by carelessNess / retardeness


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Re: Got approved for a credit card! [Re: Shiithead]
    #22490602 - 11/07/15 12:30 PM (8 years, 2 months ago)

Quote:

Shiithead said:
go capital one.

I got approved in 5 minutes :thumbup:





you should cancel that shit and go get a rewards card, look for one that gives you a bonus for signing up. Tell them you make 45k a year and they probably wont even credit check you. just pay that shit off in full each month


--------------------
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "

ChrisWho said: "It's all about the journey, not the destination."


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Re: Got approved for a credit card! [Re: CokeNasmilee]
    #22490679 - 11/07/15 12:49 PM (8 years, 2 months ago)

Quote:

CokeNasmilee said:
I'm 30 with no credit cards at all. Loving life much more. lol



Bet you don't own a house though.


--------------------

Once you understand the way broadly, you see it in all things. -Musashi


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Re: Got approved for a credit card! [Re: ManianFH]
    #22490684 - 11/07/15 12:50 PM (8 years, 2 months ago)

There's a thread in Shroomery University by Enlil called "Credit Repair 101" which can help understand how all this works. The stickies in Money Matters are great.

http://www.creditcards.com/top-credit-cards.php

Capitol One is a good starter card. Always go for rewards. My platinum plus Visa gets me 1% all purchases, 2% gas, 3% groceries up to 5000 a quarter (I think).


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Re: Got approved for a credit card! [Re: The Moose]
    #22490709 - 11/07/15 12:58 PM (8 years, 2 months ago)

Quote:

The Moose said:
:hug:

I'm absolutely fuckin trashed on a thurdays night lol




:facepalm3:


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Re: Got approved for a credit card! [Re: Shiithead]
    #22490719 - 11/07/15 01:01 PM (8 years, 2 months ago)

Max them out - move to Brazil. Live a better life.


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Re: Got approved for a credit card! [Re: trees]
    #22491325 - 11/07/15 03:13 PM (8 years, 2 months ago)

Quote:

trees said:
Quote:

Prisoner#1 said:
Quote:

trees said:
They over spent a rediculous ammount on their credit cards thinking it was chill. They couldn't pay any of it back because they were retards. Now they are forced to pay 700 bucks or something a month. If they don't pay they get tracked down and arrested.





so they committed fraud




Maybe that's it but it seems to be fraud caused by carelessNess / retardeness




good for them


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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22491372 - 11/07/15 03:23 PM (8 years, 2 months ago)

Winning...


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Re: Got approved for a credit card! [Re: Shiithead]
    #22491468 - 11/07/15 03:40 PM (8 years, 2 months ago)

Quote:

Shiithead said:
I don't thinks it's good to pay it off quick to build credit. If you pay in payments it builds credit faster and lets the credit bureaus know you're a sucker and willing to borrow money and pay interest on that money.




I don't think that's how it works.


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Re: Got approved for a credit card! [Re: Sun King]
    #22493324 - 11/07/15 10:17 PM (8 years, 2 months ago)

They can only make money off the interest. For me, building my credit, is the lesser of two evils.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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Re: Got approved for a credit card! [Re: Shiithead]
    #22493423 - 11/07/15 10:49 PM (8 years, 2 months ago)

Credit is for the weak.

Be patient, and learn to enjoy non-material things. I wouldn't borrow for anything that I didn't plan to live in.


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Re: Got approved for a credit card! [Re: Srirachi]
    #22493434 - 11/07/15 10:51 PM (8 years, 2 months ago)

Just trying to get credit up so I don't have to piss away my check for housing and have nothing to show for it.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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Re: Got approved for a credit card! [Re: Shiithead]
    #22493447 - 11/07/15 10:54 PM (8 years, 2 months ago)

Yeah, that is the only reason I'd not be totally against it. That wasn't directed so much at you as a general statement... I mean people who are constantly buying stuff on credit cards, paying it down just enough to max it out on the next toy they want. That's insanity.

Buying a house is an excellent idea. :thumbup:


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Re: Got approved for a credit card! [Re: Shiithead] * 1
    #22494313 - 11/08/15 05:27 AM (8 years, 2 months ago)

Quote:

Shiithead said:
They can only make money off the interest. For me, building my credit, is the lesser of two evils.




That doesn't change the fact that your credit score has nothing to do with how much interest you have paid.


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Sun King]
    #22494695 - 11/08/15 08:33 AM (8 years, 2 months ago)

Quote:

Shiithead said:
Just trying to get credit up so I don't have to piss away my check for housing and have nothing to show for it.





using a credit card for such purposes is a good start, here's a little advice, if
you pay off this card each time you make a purchase it doesnt do much to build your
credit, make a few payments and then pay it off, as your limit is raised extend
your payoff period, once you're over a $1500 limit you need to charge small but
allow a pay off period of around six months before you pay it off. use the card as
little as possible because of the interest rates

in a couple of years apply for a card with a decent credit limit and a better
interest rate that doesnt have any annual fees, aim for a 14% interest rate and
close your account with capital one, dont simply stop using the card, close the
account. after a couple of years with that card look into getting an auto loan
but not buying something that will break your budget because in addition to the
loan payments you will need full coverage insurance. and do not allow a
dealership to run your credit EVER. each time your credit is checked it will
affect your credit score, as will applying to several credit card companies at
one time. never seek a loan through the dealer and any time you feel pressured at
the dealer just tell them you're leaving and express the reason why


Quote:

Sun King said:
Quote:

Shiithead said:
They can only make money off the interest. For me, building my credit, is the lesser of two evils.




That doesn't change the fact that your credit score has nothing to do with how much interest you have paid.




in a manner of speaking it does, if you draw out the payments over several months
it does in fact reflect on your credit score just as paying off early does


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InvisibleAdden
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22494708 - 11/08/15 08:37 AM (8 years, 2 months ago)

Paying loans off early hurts your score. They don't like breaking the agreement that you're going to be paying capitalized interest for however long. However, there's really no true score except running your experian/equifax/transunion reports. Everyone gets a freebie every 365 days or whatever.

Paying your electric bill on time will raise your credit. How long you've been employed, how long you've had cards, your liquidity vs. how maxed cards are etc.


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Adden]
    #22494733 - 11/08/15 08:45 AM (8 years, 2 months ago)

Quote:

Dys said:
Paying loans off early hurts your score.




only if you're paying off too early. if you draw out the payments on a $200 item
for 6 months it benefits your score, instead of paying the $25/month you pay $40
a months it reflects positively because it demonstrates that you didnt use the
card as a temporary payment hold and that it wasnt exceeding your budget

Quote:

They don't like breaking the agreement that you're going to be paying capitalized interest for however long. However, there's really no true score except running your experian/equifax/transunion reports. Everyone gets a freebie every 365 days or whatever.




Quote:

Paying your electric bill on time will raise your credit. How long you've been employed, how long you've had cards, your liquidity vs. how maxed cards are etc.





duration of employment is a factor in lending but it doesnt affect your credit
score, having a dozen cards that remain maxed out will in the regard that it
affects the ability of a person to pay on a new loan if their pay doesnt manage
to make the payments on the new loan but does cover the outstanding debt


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InvisibleSun King
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22495055 - 11/08/15 10:26 AM (8 years, 2 months ago)

Quote:

Prisoner#1 said:

Quote:

Sun King said:
Quote:

Shiithead said:
They can only make money off the interest. For me, building my credit, is the lesser of two evils.




That doesn't change the fact that your credit score has nothing to do with how much interest you have paid.




in a manner of speaking it does, if you draw out the payments over several months
it does in fact reflect on your credit score just as paying off early does




Source?


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Sun King]
    #22495078 - 11/08/15 10:37 AM (8 years, 2 months ago)

Quote:

Sun King said:
Quote:

Prisoner#1 said:

Quote:

Sun King said:
Quote:

Shiithead said:
They can only make money off the interest. For me, building my credit, is the lesser of two evils.




That doesn't change the fact that your credit score has nothing to do with how much interest you have paid.




in a manner of speaking it does, if you draw out the payments over several months
it does in fact reflect on your credit score just as paying off early does




Source?





http://blog.readyforzero.com/does-paying-off-a-loan-early-hurt-your-credit-score/#.Vj-H3r_Re70

Quote:

Paying Off Your Credit Card

When you pay off your credit card, you can see a boost to your score, especially if you have carried credit card debt for quite some time. Getting rid of that debt can boost your score, thanks to the importance of credit utilization. However, even if you pay off your credit card, you might not want to cancel it.




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InvisibleSun King
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22495118 - 11/08/15 10:48 AM (8 years, 2 months ago)

Sorry, that doesn't support your case. It doesn't compare paying in full each month to carrying a balance.

Same site

Quote:

When you pay your credit cards down regularly, you benefit from making on time payments, as well as from the fact that you keep down the amount of credit you are using relative to how much you have available. Installment loans are a little different, though. Since an installment loan is paid off over a set period of time, you don’t get the credit boost from debt utilization. The benefit of an installment loan is that you can show you can manage your credit responsibly over a long period of time, seeing a good credit history as well as loan diversity and regular payment.




--------------------


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Sun King]
    #22495158 - 11/08/15 10:59 AM (8 years, 2 months ago)

Quote:

Sun King said:
Sorry, that doesn't support your case. It doesn't compare paying in full each month to carrying a balance.

Same site

Quote:

When you pay your credit cards down regularly, you benefit from making on time payments, as well as from the fact that you keep down the amount of credit you are using relative to how much you have available. Installment loans are a little different, though. Since an installment loan is paid off over a set period of time, you don’t get the credit boost from debt utilization. The benefit of an installment loan is that you can show you can manage your credit responsibly over a long period of time, seeing a good credit history as well as loan diversity and regular payment.








what you quoted actually supports what I said


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InvisibleSun King
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22495166 - 11/08/15 11:01 AM (8 years, 2 months ago)

If you think so.


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Re: Got approved for a credit card! [Re: Sun King]
    #22495186 - 11/08/15 11:06 AM (8 years, 2 months ago)

https://www.bankofamerica.com/credit-cards/education/5-facts-about-credit-cards.go


Quote:

Fiction: You must carry a balance on your credit cards to build a credit history.

Fact: You do need to use your credit cards to build a credit history, but that doesn't mean you must carry an unpaid balance. In fact, your best strategy is to use your credit cards and pay off the bill in full each month so you keep your overall debt-to-credit limit low.




--------------------


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Sun King]
    #22495188 - 11/08/15 11:06 AM (8 years, 2 months ago)

you arent penalized for paying it off early or monthly but carrying no more than a
30% balance and paying some toward principal as well as that monthly payment is
more beneficial


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InvisibleSun King
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22495196 - 11/08/15 11:07 AM (8 years, 2 months ago)

Quote:

Prisoner#1 said:
you arent penalized for paying it off early or monthly but carrying no more than a
30% balance and paying some toward principal as well as that monthly payment is
more beneficial




source?

See my last post.


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InvisiblePrisoner#1
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Re: Got approved for a credit card! [Re: Sun King]
    #22495213 - 11/08/15 11:11 AM (8 years, 2 months ago)

paying off monthly aids you in your finances because you arent paying the interest,
it's certainly in the interest of the bank to have you pay off each month


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InvisibleSun King
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Re: Got approved for a credit card! [Re: Sun King]
    #22495221 - 11/08/15 11:13 AM (8 years, 2 months ago)

Quote:

Sun King said:
https://www.bankofamerica.com/credit-cards/education/5-facts-about-credit-cards.go


Quote:

Fiction: You must carry a balance on your credit cards to build a credit history.

Fact: You do need to use your credit cards to build a credit history, but that doesn't mean you must carry an unpaid balance. In fact, your best strategy is to use your credit cards and pay off the bill in full each month so you keep your overall debt-to-credit limit low.







What part of "your position fiction, my position fact", don't you understand?


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InvisibleSun King
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Re: Got approved for a credit card! [Re: Prisoner#1] * 1
    #22495225 - 11/08/15 11:14 AM (8 years, 2 months ago)

Quote:

Prisoner#1 said:
paying off monthly aids you in your finances because you arent paying the interest,
it's certainly in the interest of the bank to have you pay off each month




So the banks don't want you to pay them %20 APR.


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Re: Got approved for a credit card! [Re: Sun King]
    #22495226 - 11/08/15 11:14 AM (8 years, 2 months ago)

It'll be hard to prove anything because the people who generate your FICO score won't tell you how it is calculated - but here's what they look at and how much each factor affects your score.

http://www.doughroller.net/credit/a-rare-glimpse-inside-the-fico-credit-score-formula/

However, it's generally understood that the factors are your ability to pay additional debt followed by your ability to generate profit through your habits. The FICO score is NOT a cretidworthiness score. It's a 'how desirable is lending you money' score.


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Invisiblebadchad
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Re: Got approved for a credit card! [Re: Srirachi]
    #22495350 - 11/08/15 11:51 AM (8 years, 2 months ago)

Quote:

Srirachi said:
It'll be hard to prove anything because the people who generate your FICO score won't tell you how it is calculated - but here's what they look at and how much each factor affects your score.





Yeah, I'm pretty sure the algorithms for calculating scores are proprietary. I have perfect credit and have never paid a cent of interest on my cards. Based on this, I think paying the card off in full each month is fine.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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Re: Got approved for a credit card! [Re: badchad]
    #22495384 - 11/08/15 12:02 PM (8 years, 2 months ago)

Ironically, having perfect credit does not necessarily mean having a perfect credit score. My credit score has been falling because I don't use credit. It's actually impossible to have a score above around 780 without using credit rather heavily.

Another thing that makes it all subjective is that missed payments only count if they are reported. Not all credit sources report stuff that is <90 days. If you've been 90+ days late on a payment, might as well file bankruptcy, because it's that damaging.

It is actually better to be 30 days late on a million dollar payment than 90 days late on $10.


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Re: Got approved for a credit card! [Re: Sun King]
    #22495418 - 11/08/15 12:12 PM (8 years, 2 months ago)

Quote:

Sun King said:
Quote:

Prisoner#1 said:
paying off monthly aids you in your finances because you arent paying the interest,
it's certainly in the interest of the bank to have you pay off each month




So the banks don't want you to pay them %20 APR.





the banks dont want you to default on unsecured credit


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Offlinemy3rdeye
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Re: Got approved for a credit card! [Re: Prisoner#1]
    #22495482 - 11/08/15 12:29 PM (8 years, 2 months ago)

Every time this comes up half the people say to pay it off monthly in full the other half say don't.
I am finally at zero after two years of having a balance of 500 to 1000 every month which wasn't good for the score. No more carrying debt past a month for me. I am going to use card for everything now though. If only i could buy drugs with it


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: Got approved for a credit card! [Re: my3rdeye]
    #22497281 - 11/08/15 06:36 PM (8 years, 2 months ago)

I believe a credit score is a measure of credit risk, not profitability.  I say pay it off every month.


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InvisibleShiithead
Your Huckleberry
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Registered: 04/05/13
Posts: 9,997
Loc: God's Flat Green Earth
Re: Got approved for a credit card! [Re: DieCommie]
    #22497809 - 11/08/15 08:20 PM (8 years, 2 months ago)

Quote:

DieCommie said:
I believe a credit score is a measure of credit risk, not profitability.




That's what they want you to think.


--------------------

Ephesians 6:12
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.
Psalm 12:6
The words of the Lord are pure words: as silver tried in a furnace of earth, purified seven times.
Hebrews 11:3
Through faith we understand that the worlds were framed by the word of God, so that things which are seen were not made of things which do appear.
Revelation 3:11
Behold, I come quickly: hold that fast which thou hast, that no man take thy crown.


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InvisibleSun King
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Folding@home Statistics
Registered: 02/15/14
Posts: 4,069
Re: Got approved for a credit card! [Re: Shiithead]
    #22498734 - 11/09/15 12:22 AM (8 years, 2 months ago)

Quote:

Shiithead said:
Quote:

DieCommie said:
I believe a credit score is a measure of credit risk, not profitability.




That's what they want you to think.




Because it's true.

:archiebunker:


--------------------


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: Got approved for a credit card! [Re: Sun King]
    #22498752 - 11/09/15 12:31 AM (8 years, 2 months ago)

This thread :lol:




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OfflineSoulidarity
With Your Halo Slippin . . .
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Registered: 07/15/12
Posts: 17,617
Loc: Atlantis Flag
Last seen: 8 years, 1 month
Re: Got approved for a credit card! [Re: Adden]
    #22498888 - 11/09/15 02:14 AM (8 years, 2 months ago)

if your taking out loans to improve your credit score you're doing it wrong.

pay your bills on time, and use credit to your advantage. i.e. don't pay a cent of interest on your credit card and your credit rating will be just fine and dandy.

besides when you get credit checked its not some guiness book of world records my credit score can beat up your credit score, its to check to ensure you don't rort the system and have a track record of meeting your financial obligations


--------------------

R.I.P. WoodRuss67, Todcasil, TheMerryIguana, The Rompus, Lord Senate.
[/url]


Edited by Soulidarity (11/09/15 02:36 AM)


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: Got approved for a credit card! [Re: Soulidarity]
    #22498898 - 11/09/15 02:20 AM (8 years, 2 months ago)

It's the perfect scam to be honest.


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OfflineSoulidarity
With Your Halo Slippin . . .
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Registered: 07/15/12
Posts: 17,617
Loc: Atlantis Flag
Last seen: 8 years, 1 month
Re: Got approved for a credit card! [Re: Adden]
    #22498925 - 11/09/15 02:35 AM (8 years, 2 months ago)

its loan sharking man. yo dawg i'll give you money to buy shit you can't afford at a 20% interest rate alright cool here you go


--------------------

R.I.P. WoodRuss67, Todcasil, TheMerryIguana, The Rompus, Lord Senate.
[/url]


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: Got approved for a credit card! [Re: Soulidarity]
    #22498939 - 11/09/15 02:46 AM (8 years, 2 months ago)

Our apartment complex got bought out by a new company so they fixed shit up and raised rent. Rent-A-Center trucks were coming in day in and out to get their shit back. Manager got replaced. People living beyond their means.


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