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Thread: How do you view credit cards?

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    #1

    How do you view credit cards?

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    How do you view CCs? What were you taught about them when growing up?


    I've always had a good view on CCs. I was taught that if you can't pay cash for something, then you can't put it on your CC. That CCs are a great way to earn rewards by spending money that you would anyways.

    I just forced DB to get a CC a week ago because he has no credit history. He was taught that they were a bad thing, and didn't get one as soon as turning 18 like he should have. I've finally convinced him that they are a good thing though.
    R.I.P. My Love, Everyone was supposed to come home together, I'm sorry you had to come home early
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    #2
    I agree with your view. I use my credit card for everything but I pay it off every month and I've never carried a balance.

    I don't really think its a great idea to get a cc at 18 though. Everyone I know who did is still in debt 5 years later. There are tons of 18 year olds who are smarter than that, but I'm glad I waited to get one. I couldn't get approved for some reason until I was 21 but I have fantastic credit now.
  3. Quis custodiet ipsos custodes?
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    #3
    We only have one credit card, and the only time I ever use it is if we're doing something like renting a car or buying a hotel room that can involve large holds being placed on an account if a debit card is used.

    I don't think they're a *bad* thing, but I also don't think they're a necessity either. We also never carry a balance, if we can't pay cash for we can't afford it is our philosophy. (Exceptions for cars, houses, and education, but those aren't placed on a credit card either).

    The only exception we made for that rule was our washer and dryer, we took out a credit card at Home Depot and took advantage of the interest free period and made sure we had it paid off before the interest hit, and then immediately closed the card.

    Basically we follow the Dave Ramsey philosophy with them.
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    #4
    I view them similarly to you. They are a necessity to have credit, but definitely not something you should rack up debt on. I don't like to owe anyone money that I can't instantly pay off if I wanted to.
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    #5
    Quote Originally Posted by january View Post
    I agree with your view. I use my credit card for everything but I pay it off every month and I've never carried a balance.

    I don't really think its a great idea to get a cc at 18 though. Everyone I know who did is still in debt 5 years later. There are tons of 18 year olds who are smarter than that, but I'm glad I waited to get one. I couldn't get approved for some reason until I was 21 but I have fantastic credit now.
    I'm so glad I got one at 18. Very soon after that they passed the law saying that CC companies could not give credit to anyone under 21 with a few exceptions. I was able to build my credit 3 years earlier, and at 21 could get a CC with great benefits.
    R.I.P. My Love, Everyone was supposed to come home together, I'm sorry you had to come home early
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    #6
    They are for emergency purposes only, imo.
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    #7
    I've always been taught that they are very bad and you should never get one. I have one now which sucks cuz I lost my job but I'm working on that.
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    #8
    I view them the same as you. When DH and I moved into this house we racked up some small debt on ours, which we actually paid off today I think they are great though and everyone should have one if they use them responsibly and pay it off at the end of each month to help build up credit.
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    #9
    I don't have one. For some reason, the idea of having one makes me a little nervous. Once I find a stable job though, I'm planning on trying to get one for gas or something like that. My partner has one with USAA and he's got a bit of debt on it that we're now in a position that we can hopefully start throwing more money at it.

    Honestly, I was never really taught anything about money management or credit cards so I guess that's where my nervousness about them comes from. That and I'm just naturally anxious Which pays off because I can talk myself out of any purchase.
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    #10
    I don't have a credit card, but I'm basically living off of school loans, so I guess it's basically the same principle...I'm using money that needs to be paid back so I try to be very frugal and only buy necessities. I'm hoping within a year or two of graduating with my masters, I will have all of my loans paid back, and at that point I never want to be in debt again so I'm thinking no to credit cards or loans at that point (other than mortgage of course...)
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