I just got my first one, and I don’t feel comfortable with it. I was told I needed one to build my credit score, even though I do not give a fudge. Apparently, I can’t buy a house, ever, without good credit score. 🫠 I don’t like borrowing money like that, even from a bank…🫠 I am just going to use it for gas, and then pay it off immediately. 🥴 Are you comfortable using a credit card? 💳
Does anyone else not feel comfortable with having a credit card 💳 ?
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Anonymous
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Yes I’m very comfortable w mine. You don’t necessarily have to have a credit card, someone could add you as a user on their account w out giving you the card. So long as the payments are being made you should get credit for it as well. You can still purchase a house straight out ifyou have the money to do so. Most people don’t though. If you’re not comfortable utilizing your credit card I’d suggest a book on how to build your credit score. Too many inquiries Into your credit can hurt it depending on whether it’s a soft or hard credit check. I have 8 credit cards, all w zero balances other than 2 of them that I pay bills w. The reason why I have 8 is because their total of available credit is calculated to my overall usage rating. So if I have $10,000 available w all my credit cards together and I’m using only a $1,000 on it or less, I’m only using about 10% or less of my available credit. That keeps me under that 30% mark that the credit bureaus recommend you use to get your score up. Also the length of how long a credit card has been open affects your score. It’s suggested to never close a credit card if you’re not really using it as it could hurt your score by bringing that total available credit down. I’d just put it away, maybe use it once in a while. Of course making payments on time helps as well. There’s numerous factors.
Credit cards are only a problem if you charge more on them then you can safely pay off when the bill comes in. Personally I use cash for the smaller things but I use my card for things like gas for my truck or other large purchases. I always pay it off when the bill come in though.
I absolutely DO NOT feel comfortable with having a credit card. I don't want to get into more debt than I'm in now. Credit card debt is dangerous. The interest rates are insanely high.
U should give a fudge. And you don’t should try one of those credit cards where u just load your debit funds.
Do not fuck yo credit yo. The likelihood of a first timer doin this is too often and in a world of 790 and above, things are good things are safe and you can do whatever you need to when you need to and that is worth more than. Having a lot of money. When you have mkney, you have something to lose and something people want. Nobody gon take your credit score from you except you own irresponsibility
- I finally came back from th dead and reentered the 600s -former 430 score
Yes, I'm comfortable with it. It shouldn't be a scary thing as long as you use it responsibly and make sure you aren't buying frivolous things with it. My husband and I use ours for things like gas and groceries (which we pay off each month) and for unexpected costs like when I found out I needed a root canal or when his truck broke down and we needed to fix it. We also have a substantial amount of money in our savings as well and we always try to make sure we pay it off as soon as we are able to.
What you're apprehensive about is not the credit, or credit card but your lack of self control.
Credit cards are basically just borrowed money, you pay back after 25 days. Debit cards are your money you take from your own account.
So basically you can spend your credit to the hilt if it's money you were going to spend anyway. The discipline is in remembering you have to pay it back, hence why I say 25 days instead of the full 30 days.
As long as you’re responsible with it, relative to the amount of money you make, it’s fine and can even have its benefits…
I tend to use it for the odd, necessary big purchase, like car repairs and services, travel expenses, stuff like that… it’s a good way to rack up points and as long as you can pay everything back in full, in a timely manner, you’re basically earning free money.
Many people do not realize how important a good credit score is to their financial health. Credit cards used correctly are just fine. Pay them off fully every month or don't charge things you can't fully pay off that month. The interest rate they charge is horrendous. Say you charge something for 300 bucks, if you just pay the minimum amount without charging anything else it can take a couple of years to pay it off. Add more and more charges and pretty soon you are so deep even if you never charge anything else it could take you more than 10 years to pay off and more than a grand in interest. Look for one with a rewards program that fits your life. We use one where we will get a free cruise, we have friends that get free airfare to Hawaii, they go there every year. It can be a good financial tool, and it can bankrupt others. Just imagine 3 or 4 cards charged to the max. That is how they make money.
trick is to only have a few at most and keep the total monthly balance paid off or under an amount you could pay off quickly.
however you can build up what is called non-traditional credit history. by having utility bills, cell phone bill or piggy backing off someone else's credit history. provided you keep your monthly bills paid and/or they maintain a good credit history themselves.
I've know parents that can't manage to save up much or any money for their kids futures. but do manage to maintain a decent credit history over the years. so they put the kids as authorized users on their credit history as teenager's. but just don't issue them a credit card so the kids almost never notice it. until the kids are told about it or apply for a bank/college loan and find out they have 5+ years history already. which can often lead to them getting lower interest rates later on.
My suggestion is to have one with cash back which pays you to use it, then pay it monthly.
Get a bunch of them with the highest limit you can get, and use them to pay a single online bill per month just to create history. Then you can use your good credit situation to open a low interest line of credit or three with the highest limit they'll offer you and then close the CC's you don't really use.
Bam low interest credit to get a home down payment, go to school, travel or start a business.
It's how the game is played and if you screw up you make a consumer proposal and start the process fresh.
I've been avoiding getting a credit card for that reason too... makes me uncomfortable. I've had a debit card my whole life and I don't trust myself with a credit card (I'd probably end up in serious debt). But I really do need to build up my credit score.
Nope, me and credit cards don't mix, I got one with a Credit limit of $300.00 after I pay it off then I'm not using it anymore, I worry too much cause some Credit card companies keep adding more money to have... Just like JCPenney did to me it finally went up to $2,800.00 and then I noticed it was nowhere located on my credit report so who knows where it went but it disappeared?
Never used a credit card I always just got big loans from the back for cars , boat, street bikes, dirk bikes, homes and just paid them all off asap I just pay in cash with everything and use my own debit card too pay for things if card is needed I keep my credit score booming lol🤣!
I refuse to have one. They tried to smuggle one in when I got a new bank card after the previous one had expired. I canceled it right away. Cash is King. If I can't afford what I want to buy, but need a ''credit'' for it, I'd rather not have it.
I've got a couple, I just use them to make money buying batches of fast turnaround scrap gold
Have used them in a crisis like when my old, old phone broke amid a liquidity issue and to save money on something that I was going to buy but is on sale now
You have the right idea is to pay off. Get small not book write down what you bought, how much, and store. Pay off at the end of the week. Also remember credit does not sleep. Credit constantly multiplies. Good luck.
You can't buy a house on credit, if you don't have the money to buy it outright. That's the point of credit, is to help you, get what you need, but promise to pay it back
Unfortunately, that's what the country has a problem with
And it's all due to TRUMPENOMICS, otherwise known as reganomics, or "TRICKLE DOWN" economics. IT doesn't FUCKING WORK, REPUBLIFUCKS
I have 8 my self and my husband has 6 or 7. Though if you don't even trust yourself with a credit card you are probably to irresponsible to have one. Just be care with it fucking up your credit score can stop you from buying more than just a house.
I am very comfortable using a credit card. I only use it for any big purchase like a tv that I want to pay right away. I don't like owing money either so I use it for gas or food as well but I pay it off asap to build my credit.
Never had one. I pay bills on time and I have good credit. I'm not spending money to make an imaginary number go up. Credit scores are a US thing, most others around the world use common sense when deciding on loans.
I do not own a credit card and most likely never will. I prefer to have control and know exactly how much I'm spending and how much I have left in my account. Never been in debt and I'm going to avoid that type of situation as much as possible.
Spend a samll amount, pay it off in full each month. I use them all the time, give better protection online as responsibility for fraud lies more with card company then individual. Only ever a problem if you let balance build up
I've had credit cards for years. I use them instead of cash and pay off the bill in full each month. That's the best way to build your credit score at no risk to you.
The main reason I got a credit card is that when I first started using Amazon they did not accept banking cards for their products, and now my limit is high enough to buy a brand new car.
I mostly used them as a convenience and not a way to get a short term loan. I was really taken aback when I got my first home mortgage. I thought about having to pay this thing every month for the next 30years. I do not feel comfortable with debt.
@vald9inches true... we did put money down though, and our household income is decent. Our mortgage payment every month is 15% of our income and we pay extra every month because we don't like to owe people. Our only debt right now is the mortgage. We got it in November 2021 and we're already a year ahead on payments 😂
Yes I am comfortable with it and know how to use it responsibly. I have no debt and a 770 credit score. Thankfully because of my financial responsibility and being proactive I qualified to get a mortgage when I was 23.
I think the reason more males answered this question is because western society teaches us to be providers and historically expects us financially independent so we are are expected to have an opinion.
For me this is a faith based decision the Bible says the borrower is slave to the lender and speaks against debt and also against usury (borrowing with interest payments) so I do not have a credit card
Paying it off immediately is perfect. You will avoid fees and there are a lot of cards that give rewards for using them. As long as you don’t use credit cards to buy things you can’t afford, it is a great way to build credit and get some perks.
Unfortunately this is the system that capitalism gives us to buy the outrageously expensive basic life needs such as buying a home or education or healthcare
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