Millenials

why is my generation (millennials) so fucking shitty when it comes to having a credit history? i always see the "muh debit card" arguments, but are you really going to buy a car/home on a debit card? Why are the people in my generation so short-sighted? One guy from high school was swearing up and down that he will never have credit cards and will always buy things with cash. this is until he got kicked out of his parents house, could barely find a place to live in some shit neighborhood, and got a car loan with a 14% APR. all because he had no credit.
but yeah goys... aaahrmmm, guys (sorry), just use debit cards.

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en.wikipedia.org/wiki/List_of_banks_acquired_or_bankrupted_in_the_United_States_during_the_2007–12_global_financial_crisis
en.m.wikipedia.org/wiki/Subprime_lending
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You don't have to pay interest on debit card. That's why.

you dont need to pay interest to use a credit card

Can you redpill me on credit cards OP how do i start

Hah, yeah, they all say that. Enjoy living beyond your means and buying stuff that you otherwise would not if you had to pay cash. Meanwhile, I'll continue to use cash and my local Credit Union debit card.

Just apply for one. Use your entire household income for the income question to inflate it, nobody will ever ask for proof.

You made this same thread three days ago.

What's that goyim? You need that $70,000 new SUV everyone is talking about but you don't have the money?

Worry no more! With the goodgoy bank card, you can borrow money for free (so long as you pay it back in the future).

What's that you say? Inflation has made it impossible for you to make enough money to pay back your debt? That's just too bad. Who could be responsible for such a terrible situation?

>Using the moneylender Jew
Absolutely good goyim

I would never in Russia. They would randomly charge me 500% interest and come over demanding either full payment immediately or they cut me up for organs. Stay away from credit in Russia.

Anyone who gets a credit card is a turbogoy beyond belief. In Europe people who have a credit card are assumed to be addicted to debt and living beyond their means. You don't admit in polite company that you have a credit card.

>he actually thinks that Russian bankers are worse than the Jews

i spend the same amount i usually spend and get 5% back on most shit. visacards give 5% back on warehouse clubs 9 monts out of the year, and 5% on amazon the other 3. And the other cards do like 2% or 3% on groceries and gas. And when i move onto the next card, you get $150 for spending $500 in 3 months, which is easy-- just pay for 6 months of car insurance all at once.

You just have to time and plan expenses and you get free shit for doing what you'd do anyways. I honest-to-god don't know how retards and niggers get into such deep debt.

How do you fags afford cars or houses?

>i'm a literal retard with no self control you must be too!
jesus how many times were you dropped as a baby

Good goyim, enslave yourselves to (((the money lenders))) to uphold your thin consumer identities! Buy everything you want, we'll take care of the rest. And remember: Frugality is unamerican.

It's called saving.

One word. Bankruptcy.

Can you actually buy real estate on a credit card and if yes why would you ever do it?

Dunno m8, I'm 26 and my credit score is like 760. No debts here, I got in state tuition for undergrad and the army is paying for my Dental school which would normally be very expensive.

>buy things with cash
>dont buy things i dont need
>i am somehow a retard
Have fun leaving a paper trail with all those electronic purchases you make. They literally know everything about you. But get dat .01$ cashback like a good goy while paying $100s in fees and interest.

The housing costs in the United States are so overblown that any average person practically has to get a loan if they want to have a house without saving for decades.

Our interest rates are also ridiculously low, encouraging people to buy shit they can't even remotely afford, only to have their shit foreclosed later on, feeding the bank jewery even further.

>Bankruptcy
>USA
en.wikipedia.org/wiki/List_of_banks_acquired_or_bankrupted_in_the_United_States_during_the_2007–12_global_financial_crisis

wew lad

Most Europeans buy normal cars with actual money and houses with long term debt and mortgages (get 250k now and pay back 600 each month)

>mfw credit score is 666

You need a stong credit score, and that is built by paying credit cards on time (you dont need to pay interest to do this), and paying auto/student/medical/installment loans as agreed.

It's especially useful for when real estate goes to shit and everyone is trying to sell. Usually banks don't want to loan out money, and its a time to grab a property that's 40%-60% of it's peak value. You can grab it, and sell it off at the next peak. The 1st $250,000 of PROFIT on the sale of your primary residence is TAX FREE, and you are able to deduct the interest on home mortages on your taxes. The $250k rule is $500k for married tax filiers.

This is how you make $$$$$$$!$!

I never had a credit card or any line of credit until last year. My wife and I were trying to figure out what kind of mortgage we could get with our income, and the bank told us we couldn't get a loan without at least two lines of credit existing for greater than two years despite having a sizable down payment and easily verifiable income. Anyone in the USA who wants to buy a house or car on credit should most definitely have a credit card that they use and pay off each month.

You're clearly a fucking idiot with no self control. I use my credit card only for emergencies, like my car breaking down or for repairs on my house. I pay no interest for money I don't use so I can keep it handy whenever I want.

But continue to be autistic since it seems to be working just fine for you right now

Buying a car with cash is a waste. If you can't sell it for more than you bought it for, you bought garbage. A TON of peasants ""own"" nothing but garbage. TV's couches whatever. A car should be seen just as a montly expense like a cell phone or electricity or a metro pass if you dont have a car.

A car is not worth the cash you'd put into it ever.

Can an american explain this credit score/history thing to me?

I personnaly just use my credit card to buy things online, but the rest I pay in cash/debit card. I bought my motorbike and my car without credit, and I didn't need a "credit history" to buy my appartment (with a flat rate of 1.42% for a 10 year loan).

Is this something american?

>credit goys

Do you really think there's not going to be another credit dump ala the great depression?

Be honest here, do you think it will not happen ever or in your lifetime?

Did you have 20% for the downpayment? And what year was this? And was it a national bank?

>using the jewcard

>credit card
>buying shit with banks money (oh you need to pay interest as well)
how retarded can you get
use your own fucking money

Have paid $0 in interest and fees to use my credit card. Have earned over $1200 in churning cc bonuses and cashback on free credit card in the last 3 years. I get about $30/Mo in cashback, when 4-5% rate is available I get $50-60.

My savings account automatically pays the credit card off in full each month with no interest.

You're just flat out doing things worse by not collecting rewards and protections of using credit.

I only spend money I have but I always use credit. By using credit not only do I get bonuses, but the monthly balance also sits in my savings account to pay me interest until it's needed to be paid.

>No credit history at 30
>Nobody will give me any
>Cave in and put 200 down on a secured one
>Pay balance in full fir a year
>Credit score 735
>Get approved loan for a new Jeep

Credit shit is easy mane

The only reason it hasn't happened yet is because the Fed is pumping out fiat money to ensure that we can keep up the unsustainable low interest rates and high levels of credit spending.

As soon as they can't catch up anymore or faith in the dollar hiccups, it's going to crumble.

The U.S. economy has been a ticking time bomb for decades now.

It would take years to save for a new car when I can just make a down payment and take it off the lot when I want. My good credit score means monthly payments are low but I can pay more down if I choose to speed up complete ownership.

By the time you save money for a car, you'll probably be five years older and used to riding on the bus and/or catching cabs to even bother.

>I am incapable of budgeting my money and making monthly payments

> shilling for credit cards

jesus christ

It's called a living wage.

Credit scores / credit reports are used in addition to employment history and provable income and downpayment when offering a loan.

Good credit scores can get you lower interest rates. Any time you miss payments or something goes into collections or if you are sued etc, it goes on your credit report and lowers the score. A number of hard pulls (lenderinquiries) or using more than 10% of your available credit also damages your credit score. Credit scores are also used when renting apartments. I think they can also be used in hiring decisions for employment, and for setting up a merchant account if you are starting a business.

>A car should be seen just as a montly expense

Are you proposing leasing a car instead, or car loans?
Either way, reselling a car you bought cash or with a car loan, or ending a lease, it's all money out down the drain. Everyone understands that.

Saying that one form of paying for a car is always superior to another form is false, it depends on your circumstances: the used car market in your area, what kind of car you need, what you need it for etc etc.

Only our grandparents understand what's coming (those who lived it and weren't some Gatsby rich type)

You can't have a currency that is not backed by anything that prints like crazy and expect no backlash ever

Taking on huge amounts of debt and praying you're not holding the bag when it burns is risky as all fuck

pay your goddamn credit card off each month and get 2% cash back of the jew banker's money

>yes goy spend our money on cars and Smart TVs, it's a great investment I promise

i dont churn but i do abuse the fuck out of no annual fee cards.

fuck cards with annual fees.

>Car breaks down

>Need 1k to fix it

>Only have exactly 1k on hand in usable money and would be broke for two weeks

>Use credit card to pay for repairs

>Pay off the bill in two months

>Still have usable money and savings is untouched

>Credit score improves because I pad on time

It's sad that you're not mature and intelligent enough to properly use credit but it works for me just fine

for a house, you'll need years of history

I buy almost everything on my credit card and just pay off half or all of it whenever I feel like. last I checked my credit score was 720 or something. it's not hard. 23 years old btw.

the niggers are overpaid as it is

That is an emergency situation
I am talking about things like everyday shopping, paying bills, etc

The problem is that people use credit to buy frivolous shit instead of using it for emergencies or long term investments like a car or home. Credit as a concept works fine, the problem is that people are stupid and use credit improperly and subsequently fuck their own life up and then blame the bank when they themselves were too stupid to not use their credit card to get their new iPhone

Retards use credit cards for those situations. Credit should only be used for emergencies or long term investments, not for new flat screen tvs but people are stupid and banks like giving out credit because the government bails them out. Stop government bailouts and banks stop giving away credit. Simple

Lease makes sense only if you do not drive a lot, usually city/suburban living. If you live in bumblefuck, then it makes sense to own a beater truck to go 20 miles into town.

When people buy used cars, the costs of repairing the car offsets the money "saved" in montly payments. Usually with a lease, regular maintnece is covered too. Even if you get a car shen it depreciates slower at the end, its still a depreciating ""asset"" (sane people would just call it an expense).

I had 5 CCs at one time. A few had months of 5% cashback, and a few had $50-100 approved bonuses.

Killed them all off besides my core 3 now:
>Shitty bank 0.5% cb card (oldest)
>0.99% balance transfer for 15mo line of credit type card
>2% cb card that dumps the reward in my savings monthly

I only use one, but they are all no fee anyway

I completely agree

>Buying a car with cash is a waste
Newsflash goy, with credit you'll pay for that car eventually too (even more then someone who buys it with money).

>a lot of peasants own nothing but garbage
At least they own what they buy unlike you who doesn't really own anything except an obligation to pay everything back.

never cancel a credit card if it does not gave an annual fee.

it will cause your credit utulization to go up (hurts your score)
it will reduce the age of your accounts.... unless you only had it for a couple months. I think JPMorgan chase is cracking down on churning.

>it good that everything a person owns will be worth less and less in the future

this is why the kikes are rich and most others are not. the masses are not focused on eventually obtaining assets that increase in value, and that requires credit if you werent botn rich.

is your 2% card the citibank one?

800 FICO score master race reporting in

Consumption isn't supposed to increase in value, you buy it because you want to use it and thus you expect it to devalue over time.

A car is a depreciating asset, the moment you take it home it's losing value, that's why you pay with an immediate down payment and settle for monthly payments because what you put in will ultimately be less than what the idiot who paid everything up front will be for a car that will be worth next to nothing in five years.

>Europeans knowing anything about car ownership when most of you cucks ride public transportation.

Assets that increase in value are always a gamble and are tricky to find. People always assume land is a valuable asset to invest in but that's only if the market is up and people are actually buying it. Land can be just as useless as any other asset if you have more than what people are willing to spend on it.

I'm 30 and I've never had a credit card.

huh weird I've never been in debt either, what a coincidence

Being this brainwashed and/or retarded is the reason why the Jews own you America

he's right though, most new cars lose a grand off their value the second you drive them off the lot

I'm sorry, I still don't understand your argument.

>pay with an immediate down payment and settle for monthly payments because what you put in will ultimately be less than what the idiot who paid everything up front
This only happens if the interest on your loan is lower than the inflation, and you can't count on that.

>because what you put in will ultimately be less than what the idiot who paid everything up front will be
What? Usually monthly payments end up being more money total than up front payments.
I've never bought anything expensive enough for that option, but I assume that's how it works because your paying for the product + time preference.

Ofc they do, who the fuck expects their car to increase in value? Unless you keep it for 50 years and sell it as an oldtimer

>Usually monthly payments end up being more money total than up front payments.
I meant *don't monthly...?*

Wow, you literally are retarded.

>credit
>spending money you don't have
>entering a usury contract with literal or even figurative Jews
>b-but I needs ta bah me ah bran noo cah
I'm 30, never took a loan, never will. Bypass the Jew.

They indeed do, paying in terms is always more expensive than paying in full on the spot. Markets coordinate time with interest.

In terms of disposable income over time, it's cheaper to do payments than it is to pay completely up front, not to mention that dealerships often give you purchase plans that have no interest when they're trying to clear old inventory if your credit is good enough.

Interest on brand new cars is 0% in the USA if you have good credit

Why do people buy things they cant afford.

Why dont you just save your money and buy the thing you need when you have enough money for it.

I dont understand why people need credit cards.

>he actually thinks that Russian bankers are not Jews

The only reason I'm not building up a credit score is because I don't know how to start.

What's a good credit card? The most I buy is gas and food

My schooling involved Dave Ramsay videos in personal finance class. We literally had tests over how bad a credit card is. I have one just to build up my credit, I only buy gas with it.

That makes sense, then.
I'd definitely go for a loan in that case, as long as there's no shady shit in the contract.

>using a debit card or cash for anything ever

I remember being 19 years old, trust me when you're 30 you'll wish you were a fucking retard and built credit. Then again maybe not, since you faggot Europeans know nothing of home ownership

Nobody I know uses credit card. Easy way for retards to fall into massive debts.

Weren't *
Fuck

>I don't know how to start.

Have access to a credit facility and use it responsibly, without missed payments or defaults. Even then "credit score" is the wrong idea, you are simply changing your status from no history of credit to some history of credit.

Your underlying credit worthiness is a product of your income, outstanding debt, available credit and previous credit history.

Great mentality you have there in Europe


>I can't handle not running up a credit card, instead of using it for emergencies.


The entire continent of Europe needs to just kill itself and start over

Freudian slip

Never had a loan before. I worked hard, got my first car. Lived at home until 25 and bought a half decent unit. Been smooth sailing. I don't understand how people have no money.

Freudian autocorrect more like

I'm a wage slave, worker drone, that's how. It sucks but it's better than being homeless.

People consistently live beyond their means, especially the lower class. This is why jewelry shops make so much money in low-income areas; people impulse buy jewelry all the time, especially when they can't afford it.

Fucking this.

People think of credit rating as something you onlt use when you're taking a loan or payment plan when it's bigger than that.

Your insurance rates depend on your credit score, your mortgage, hell, even some bills. Having a good credit score can make your life far easier if you're a responsible fucking adult.

>since you faggot Europeans know nothing of home ownership
Topkek
en.m.wikipedia.org/wiki/Subprime_lending
Meanwhile everyone in my family own its own apartment in Paris without being a bankrupt retard

If you ever buy jewelry you are either a woman and/or retarded. There's a reason it starts with jew.

Any sort of interest is generally bad.

>>he actually thinks that Russian bankers are worse than the Jews
They sell your debt to privat collector company.
Collectors AT BEST will be smearing shit on all your neighbours doors to make everyone angry at you and use all sorts of pressure to make you pay. And messages like "We know your daughter's school".

At worst you get molotow at your window where your child sleep.

All real stories.

>The whole financial crisis in 2008 was started by retard in the US who couldn't handle their debt
>The private debt in America is way higher than in the EU, with millions of retards who go bankrupt
>But somehow we're the retards
Nice logic burger

See this is why the leafs are known as retarded shitposting faggots

Still better than the Jews

If you have a bank, it's best to start with their credit card since there's benefits for your account and it's easy to get one if you have a job and direct deposit.

Use your card for small purchases that you know you can pay back. Never use your card to buy expensive luxuries. Know your limit and never max it unless it's an emergency. Also, while we're on limits, start out with 1k maximum, you don't want more than that. Increase your limit when you feel more comfortable or if you get a good paying job.

NEVER FUCKING USE IT FOR LUXURIES