February 21, 201115 yr Better security from identify theft. CC companies are quick to work and give you back your money on things like this plus it's way easier to switch a credit card rather than your bank account. How so? You know which McDonald's employee is going to steal your card number? You get your money back either way. It's just easier to close down a Credit Card rather than a bank account that has automatic deductions or checks coming out of it. Using cash is a nuisance and if someone steals that you don't get it back. Debit cards offer the same security of a CC and are just as easy to close as a CC. Also, just because someone steals your Debit Card number doesn't mean they will get your cash. I had someone a few years ago get me card number. They were from England and tried to run up almost $2000 in charges on our account. The money was returned very quickly. They were successful on a charge of $500-$600 but there was another for $1300 or so that was declined because it was fishy to the bank.
February 21, 201115 yr Honestly I don't need a book to teach me simple financial calculations on interests rates and what to pay off first. I have a system in place that I use and it works well for me. Obviously I am not debt free I just got a house but in due time. The fiance and wedding planning are getting in the way. :irked: :lol: Said the same things when I was in my twenties. Good luck to you.
February 21, 201115 yr :thumb: Why should I waste time and money and read a book that teaches me stuff that is common sense? And the whole don't have credit cards thing is bogus. As long as you're disciplined enough to use cash back cards and pay them off every single month, no exceptions, you're fine. Also, try being a just out of college kid trying to get your first house, without ever having a credit card or car payment. Never gonna happen with this housing market. Again, your missing the point. The people that need this program have proven they aren't disciplined enough to pay off the card every month. Also, if you have a 20% down payment for a house you won't have that much trouble getting a loan.
February 21, 201115 yr Said the same things when I was in my twenties. Good luck to you. Are you suggesting no wedding? I don't think she will go for that. :lol:
February 21, 201115 yr Debit cards offer the same security of a CC and are just as easy to close as a CC. Also, just because someone steals your Debit Card number doesn't mean they will get your cash. I had someone a few years ago get me card number. They were from England and tried to run up almost $2000 in charges on our account. The money was returned very quickly. They were successful on a charge of $500-$600 but there was another for $1300 or so that was declined because it was fishy to the bank. Of course it doesn't always happen worse case scenario but it can be more of a headache to have your bank info stolen rather than your credit card. New checks, new debt cards, new auto drafts....
February 21, 201115 yr Again, your missing the point. The people that need this program have proven they aren't disciplined enough to pay off the card every month. Also, if you have a 20% down payment for a house you won't have that much trouble getting a loan. How many kids fresh out of college are going to have 20% down to put on a house? 5% maybe and if they do chances are they got it from mom and dad.
February 21, 201115 yr 1) Cash back that you don't get if using cash. 2) Not having to run to a bank or ATM whenever you need to buy stuff. And having good credit can saves you thousands of dollars over your life. Like it or not you need revolving credit on your credit report.
February 21, 201115 yr Of course it doesn't always happen worse case scenario but it can be more of a headache to have your bank info stolen rather than your credit card. New checks, new debt cards, new auto drafts.... My purse was stolen, and the hardest thing about changing my accounts was having to get a new drivers license to prove my idenity. I had to borrow $6 from TonyDanza. :lol: Other than that, they froze my account until all auto withdrawals and deposits were completed and/or I could get them switched to my new info. It was a headache, but no more than having to do the same and wait for a new credit card would be.
February 21, 201115 yr And having good credit can saves you thousands of dollars over your life. Like it or not you need revolving credit on your credit report. How?
February 21, 201115 yr Are you suggesting no wedding? I don't think she will go for that. :lol: Good luck and congrats. I truly hope it goes well for you.:thumb:
February 21, 201115 yr And having good credit can saves you thousands of dollars over your life. Like it or not you need revolving credit on your credit report. Falacy!
February 21, 201115 yr Again, your missing the point. The people that need this program have proven they aren't disciplined enough to pay off the card every month. Also, if you have a 20% down payment for a house you won't have that much trouble getting a loan. That's just simply 100% false. One of my good friends recently got married, and neither had ever had a credit card or a car loan, etc. Had $30K+ to use as a downpayment and couldn't get a loan anywhere. Had to settle for an apartment, one went out and bought a new car, the other got a credit card, both at the bank's suggestions so they could build credit.
February 21, 201115 yr Here's where I have arrived. I won't be on here the rest of the night because the home PC has crashed. Past reaction? I would have been in best buy credit waving a piece of plastic. No research, give me the latest and greatest. Cost? Dude, I got a Platinum Visa. Now? 1st looking at repair on the old one. (4 year old Dell). If that's not viable, look into what suits my needs at the most reasonable cost. If I have to pull that trigger, I now come into best buy with cash in pocket, and make a financially sound buy.
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