Well, I have the power to save money. I am quite good at it actually. I rarely blow my money on nonsense. I just thought having a credit card would be easier. Although I don't even have a history of credit or anything so it really doesn't apply to me at the moment, but when I reach that point where I do, I was really considering on getting one. I just don't know if it would change anything. Like, give me the ultimate power (in my own little world) and just go crazy with it. I know of family and friends to just literally blow their credit up. Like, they rely on their credit cards. But, I think I'd be very responsible with one. I will never know until I actually have one though. A debit card sounds good too though.
The Whining and Bitching Thread
- Thread starter waif
- Start date
I overdrew my account once...basically, I bought some stuff online with my checking account, and transferred a bunch of money from my checking account to my savings account (I have direct deposit, the money goes into my checking account) a few days later. I didn't realize there were still charges pending...$60 bucks down the fucking drain.
This.
zabu of nΩd
Free Insultation
- Feb 9, 2007
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Debit cards can be dangerous too, even if not as much as credit cards. If you ever forget what your balance is, or if you make a deposit and then start using your card again before the bank processes your deposit, you can easily rack up hundreds of dollars in overdraft fees before even realising it. I've made those blunders in the past.
With credit cards, basically the rule is: don't charge something to it if you aren't absolutely sure you'll be able to pay it off. The vast majority of your purchases should be paid off before you get your bill so you don't end up paying interest on them.
I never knew that about a debit card. I think that happened to my bestfriend. She has a debit card and she uses it to buy things, but one day she called me, telling how she was in the whole like $135.00 to her bank and her parents had to pay it off because she didn't have the money.
I have no clue about a credit card. Me and my mom had this discussion and she always talks about interest and all that. I never got it. But, I know with a credit card not to make a purchase if you cannot pay it off.
But, I guess both can easily put you in the whole with money. So, being careful with both is a good idea. I might just get both. But first, I have to get a job. Oh, yes, a job.
Chanakya
Orphaned Brother
I'd go with the debit card as well, though the hidden charges can be a bitch. If an ATM is close by, I'd still go with just withdrawing necessary amounts of money. Maybe I think this way only because I don't really have much money with me 
The Ozzman
Melted by feels
I like both. I'd like to have both, but I cannot even really go any further with this unless I have a job. But, knowing the differences between them is great. I want to be ready when I get all this going. I don't want to end up in debt and go crazy.
Einherjar86
Active Member
Credit cards are great. I do most of my record shopping online, so I kind of need one. Other than that, all I ever really use it for is gas and grocery shopping.
Dak
mentat
Car payments build your credit much faster than credit cards. The only benefit to your credit score that credit cards add (besides a credit history), is if you have them and don't use them. Your available-to-total credit ratio is a part of your credit score.
You do get a credit score with bank loans, regardless of whether or not you have a credit card. What does not affect your credit is cell phones, unless you have some sort of collections issue.
You do get a credit score with bank loans, regardless of whether or not you have a credit card. What does not affect your credit is cell phones, unless you have some sort of collections issue.
The Ozzman
Melted by feels
Einherjar86
Active Member
zabu of nΩd
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Please learn how interest works before getting a credit card. I don't know what your mom has told you, but the concept of interest itself is not that complicated. In the case of credit cards, it basically means that if you owe money on your card by the time the company sends out your monthly bill, you may owe an extra percentage on top of what you already owed before depending on how often the interest is added on (and of course what the interest rate on your card is). Interest can be compounded once a month, once every three months, once a year, etc. I'm not sure what the normal period is for a credit card.
At any rate, just be sure to do some research of your own sometime and not just go off the word of your mom and some dudes on a metal forum.
Uh, I'm pretty sure that's false. Charging to your card and then paying off the charge promptly shows people that you're responsible with your borrowing and know how to limit yourself. It's the same reason bank loans can build your credit if managed properly.
Einherjar86
Active Member
Please learn how interest works before getting a credit card. I don't know what your mom has told you, but the concept of interest itself is not that complicated. In the case of credit cards, it basically means that if you owe money on your card by the time the company sends out your monthly bill, you may owe an extra percentage on top of what you already owed before depending on how often the interest is added on (and of course what the interest rate on your card is). Interest can be compounded once a month, once every three months, once a year, etc. I'm not sure what the normal period is for a credit card.
At any rate, just be sure to do some research of your own sometime and not just go off the word of your mom and some dudes on a metal forum.
Uh, I'm pretty sure that's false. Charging to your card and then paying off the charge promptly shows people that you're responsible with your borrowing and know how to limit yourself. It's the same reason bank loans can build your credit if managed properly.
Oh, I will for sure do my own research. I mean, the word form my mom and you guys is helpful, but I will find the time to do some research for myself. Thanks though.
Dak
mentat
Well I can't personally verify this, but I had a credit manager tell me that for maximum credit score building you needed to leave at least a small running balance on credit cards.
Either way, what you are referring to is what I meant by credit history, I should have said "responsible" credit history I guess. I used credit cards for the first 2-3 years I could, and haven't used them since. Don't miss them either to be honest. My truck loan is pretty much the last time I intend to use credit. Debt is slavery, will pay cash or not get it.
Yeah, that is something I don't want. Debt, debt, debt. That is a good way to put it though Dakryn. It is like slavery. And using cash or not getting it at all is also handy. A lot of people these days demand things and get it however they can. Whether they are debt or not.
Mort Divine
Shrine Maiden of the In-Crowd
The only debt I am going to willingly take on at this point in my life is my student loans.
Once I get my other credit card paid off - not touching it ever again. I've become far better with money ever since I ended up maxing them out and not touching them and have to pay them off as well as my other bills etc.
Once I get my other credit card paid off - not touching it ever again. I've become far better with money ever since I ended up maxing them out and not touching them and have to pay them off as well as my other bills etc.
That is the other thing I am worried about after high school and getting a job. Student loans. I rather not get them, but I know and I am sure they are helpful once college is intact. But, I rather not get them. I don't want to take forever to pay off loans and all that.
Belligerent
Greekus Urungus
So i have a question if anyone can answer it.
Recently if i am watching videos through Winamp or WMP the resolution has been messing up. Say i click on Fullscreen, the picture becomes really slow and choppy with lines going across and is pretty much unwatchable.
Anyone know a quick fix for this? Its getting really annoying.
Recently if i am watching videos through Winamp or WMP the resolution has been messing up. Say i click on Fullscreen, the picture becomes really slow and choppy with lines going across and is pretty much unwatchable.
Anyone know a quick fix for this? Its getting really annoying.
