What does Sup Forums think if credit cards?

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Only for emergencies

Good if you're not an idiot that spends more than you have like most people. Cards that have cash back is free money.

There is only 1 correct way to use a credit-card:

You NEVER spend more with the credit-card than you have in your checkings-account. You go home and pay off the credit-card.

Creditcards are good because they are insured against fraud. However, you should NEVER be tricked into using money you don't have.

jew tricks

Never, ever use a credit card.
>inb4 I can use it responsibly to build credit
Stop feeding the jew. Don't ever use money that you don't have when you can avoid it. I don't care if you have to eat ramen noodles, just don't get into debt. Don't take out loans on small items ever, not even cars. Only take out loans for big shit like your house and pay it off as fast as possible (1 or more extra monthly payments a year) so that you aren't lining the pockets of Shlomo with excessive interest.

If you know how to use them they can save you a ton of money. If you’re impulsive/reckless/bad with money/addictive personality they’ll destroy you

This
Brainlet

Fock off Jew

>tricked into using money you don't have.

There is good debt and there is bad debt. To buy a house one must almost always enter into large amounts of debt. Credit cards are dangerous without discipline, but even used carefully, often have unexpected costs. Yet they enable vast commerce and are an incredible force of globalization. So they wield immense power. With play money. This freaks me out a bit.

Use it instead of debit card and never carry a balance. Get cash back on everything. 2% cash back = $200 free cash for every $10000 you spend per year = one or two weeks of free groceries per year.

Cool, you dont know how a credit card works, but just wrote a paragraph.
Not feeding the jew is fine, but paying your bill on time is not hard and gives you all kinds of perks and literal free money down the line.

Credit cards literally throw money at you with shit like cashback. You can easily get your monies worth out of them, it’s just that for every one person that understands how to use it like that there’s 10000 that will use it to buy a $600 tv when they have $300 in the bank, and that’s not the Jews fault.

>gives you all kinds of (((perks))) and literal "free" money down the line

Feeding the jew only happens if you're financially illiterate. I mean, most people are, but its not difficult to avoid it.

This

I wish I could teach this lesson to my dad, but he's convinced he's 'teaching' me proper lessons about money by telling me to buy everything on my credit card so I can get a great (((credit score))) to buy other things with huge loans, like cars and houses.

Thanks dad. I guess that's why you got yourself into 140k work of credit card debt where you kept getting new credit cards to pay off old credit cards and had to declare bankruptcy and will still end up paying off your debts through your entire retirement.

The truth is, if you have the money to buy something, nobody is going to say "no way" because your credit score is shit. An outstanding credit score is a minor bonus, like getting a coupon card - a bank is more interested in you having a stable career with stable recurring payments; and a large enough down payment will put most of their fears about repayment of your loans to rest.

Personally, I don't think a mortgage lasting longer than 5 years should ever be taken out; nevermind for a car. Yes, I realize most people simply cannot afford a decent home in a decent area with a 5 year mortgage, but that's a separate issue to the financial sense. It's more an indication of just what sort of economic vice the lower and middle class are in right now. A 30 year mortgage is a lifetime of debt, and I fear it's going to get even worse as houses become things that take multiple generations to pay off - 50 years, 100 year mortgages carried on through a family lifetime, just to afford a house to live in.

Like we're returning to a gilded neu-feudal age of landless peasant renters and landed gentry owners.

The only good debt is a debt being used to get a higher ROI than the interest payments on the debt cost you, so that in the end you make a net gain.

Idiots seem to think "lol its okay to go into debt"; NO IT IS NOT. I see this especially with boomer morons. Debt should be avoided at all costs wherever possible unless you know for a fact that you get more out than you put in.

Christ it's amazing how stupid people are with debt, and act like it's a trivial little thing to be indebted to someone else and faced with life-destroying ass-rape if they lose a job or otherwise miss payments. Debt is a form of control over you.

I have a good score but only own a house. Here's what matters numero uno uber alles:
1) pay your bills on time.
There is no 2.
That's how you get good credit.

This is true and the ROI on renting versus buying is enormous for two reasons:
1) You get to deduct property tax, meaning you itemized deductions, meaning you can deduct giving stuff to charity, and if you have kids, you go through clothing, toys, furniture, stuff and donate it to Good Will and lower your taxes even more. Meanwhile you're monthly payment goes toward the principal, rent does not. Appreciation is the kicker, with only 15% down you get enormous leverage. More leverage than stock market margin which requires 50%. With an increase in real estate this can result in huge gains. We've been in our house for 15 years and made close to 1/2 million on property value.

A lot of people can't manage this.

The easiest way to manage it is to never spend more on a credit card than you actually have. Every time you spend money on your credit card when you don't actually have that money in your wallet/account is a risky gamble that you will somehow/someway get enough money to pay the debt off before its next compounding period or before the guy you owe comes by looking for metaphorical (or possibly very real) kneecaps to smash.

Doing it is stupid. It is unnecessary. It means you are living beyond your actual means. You need to cut back on what you're buying. If you are the kind of person who gets his paycheck and immediately spends all of it and then goes 2 weeks with no money, you are an idiot setting yourself up for failure. Credit cards are only a bandage on a recurring wound.

Keep at least 2-3 months of your wage available to fall back on. If you suddenly need to replace something in your car, it should not send you into a financial death spiral. If you suddenly get fired from your job, it should not send you into a financial death spiral.

if credit card, then debt

The situation between renting and buying depends entirely on the exact circumstances. You cannot say buying is always better than renting or vice versa, and you have to put a lot of effort into buying a home correctly or you can absolutely fuck yourself.

A college student would be an absolute idiot to buy a home just to attend college. People need to travel, are concerned that their job won't be in this town 5 years later, or don't want to risk being stuck with nigger-neighbors as the population demographics change.

>financing consumption with debt
>ever a good thing

In Poland I wouldn't qualify for one anyway (burgerposting leads me to believe only requirement over there is a pulse), but I fail to see the point. When I can't afford something I want, I find a way to earn some money or just don't fucking buy it. As a last resort I can always take out a payday loan - many of these are offered for free to new customers and there's enough of these companies for years of potential emergencies.
>inb4 much cashback
Have you morons ever thought who pays for this? The answer is twofold: the merchants who get squeezed by massive fees and schmucks like you who will eventually pay usurious interest.

Apparently I can't get one because I don't have credit. And I can't build up credit without a credit card.

>A college student would be an absolute idiot to buy a home just to attend college. People need to travel, are concerned that their job won't be in this town 5 years later, or don't want to risk being stuck with nigger-neighbors as the population demographics change.


Not true. Parents (including myself) see buying a house and then renting rooms to other students as an excellent way to finance living near campus for 4 years. You then sell the house and you've lived rent free as a king of a little fief. I saw it when I was a student 25 years ago.

Amazon Rewards card here

I just buy everything with that card and then pay it off at the end of the week from my checking account

I get like 3% back in Amazon rewards points, so every month I'll have like $30-60 in free money depending on how much money I spent

I use Amazon to buy shit like protein powder or books, so it's pretty cool.

The only time's I've ever carried a balance over a month is when my laptop shit the bed and I had to make an emergency purchase before Finals week, but I still paid it off within 2 months, so I didn't have to pay any interest.

You'd have to be retarded to get into trouble with credit cards, or be SERIOUSLY down on your luck(like unemployed and using it to pay rent or loan payments).

>loans for big shit like your house and pay it off as fast as possible

No this is a brainlet strategy, and you're basically cucking yourself, do not rush to pay back low-interest-rate loans like mortgages or car payments. The capital that you're giving to Schlomo by making extra payments is capital that could be GROWING in your investment portfolio, reaping you MUCH higher returns that whatever you're saving by paying back your 30-year mortgage 1 year early.

$1000 in 2017 is going to be a lot more useful than $1000 in 2037, just look at inflation rates.

You'd have to be stupid to not have a credit card these days.

>protected from fraud
>don't have to carry cash around
>can find cards with cash back rewards.

Just have a modicum of self control and you'll be fine

fake news, there are plenty of cards available to people with no credit

you just start off with a low credit limit(like $2000)

Good, good. I'd to add that having the bank essentially own things like you house is good for insurance purposes. If the house blows up, the bank is more fucked than you. The bank knows this and keeps you insured. So yeah, no rush to pay off things like houses, enjoy the leverage by owning 15% (or less if it appreciates).

Get someone to cosign a loan for you, pay it off.
Alternatively, get a secured credit card.
The system is shit but unless you plan on paying for everything with cash you're gonna need credit some day.