Credit Card or no Credit Card. That is the question.

[Rusty Shackleford]

So, I bank with a Credit Union. Right now I have a debit card. The reason why I am asking whether or not I should get a credit card is I have shit I need to pay like a ticket that is consuming all of my immediate money. I have bills as well.

Since my employment is relatively stable right now, how much better would it be to pay for said ticket immediately and pay off the card over a long period of time? I dont plan on buying food and shit like that because it would just consume too much too fast. But if I make one major transaction like that, would it be safest? I could be building credit and stuff by doing so.

Assuming interest is low, monthly payments on a small $200-300 purchase wouldn't be too bad would they?

My personal policy has pretty much been "dont fucking touch credit cards," but I might have to now.

Any tips? Suggestions? Opinions?

[Magón]

Personally I stay away from debit cards, and only use my credit card when I need to. (Like bills, car things, etc.) The rest I usually pay in cash, instead of dealing with a debit card since they're more likely to actually get you into trouble, than a credit card or cash.

So if you have the funds to properly keep one, I say get one.

[The Dark Side of the Moon]

credit card, but keep some money in reserve incase of loss of your occupation so you dont get killed in debt

[eyedrop]

How can a debit card get you into trouble?

[RichardAWilson]

Have you heard of an Overdraft Fee?

[praxis1966]

It's not just that. They usually have stupid high interest rates, especially for people like Rusty who don't have a credit rating. Plus there tend to be an awful lot of hidden fees and whatnot. Beyond that, there's always the temptation to buy shit you know you can't afford just because you have the room on your card. Damn me and my desire for that Korg bass processor... lol

[eyedrop]

Have you heard of an Overdraft Fee?
I've heard of them but didn't think they were usual. Mine just say transaction impossible if my bank account is empty.

It's not just that. They usually have stupid high interest rates, especially for people like Rusty who don't have a credit rating. Plus there tend to be an awful lot of hidden fees and whatnot. Beyond that, there's always the temptation to buy shit you know you can't afford just because you have the room on your card. Damn me and my desire for that Korg bass processor... lol
I'm thought debit cards were for people with green numbers on their spending account. There are also plenty of options for debit cards with basically 0 fees. I've never paid more than 30-40ish bucks a year in fees if I discound foreign withdrawals and the interest usually cancels that out.

[Rusty Shackleford]

For debit cards. My over draft limit is $25. i usually run $20 over on my last purchase with a cash back to make the rest of my time until my next check comes in a bit easier.

once i hit $25 over though i get charged something like $30. but, i never let that happen. it only happened once and i fought it because amazon charged me for some premium shit i apparently signed up for a year before that little incident.

got Amazon to give me the money back too :D

once that happened, my CU reversed the penalties.

As for buying shit. im going to see hoe much interest is and shit through my CU and see what hypothetical monthly payments would be.

[Devrim]

Any tips? Suggestions? Opinions?

Here is my opinion for what it is worth.

The overwhelming majority of people I know live one pay packet away from disaster with lots of credit card debts. I don't. I have a credit card, but have never used it.

My advice is don't buy the ticket and don't go wherever you were going but try and save some money then you have at least one months salary in reserve.


I've heard of them but didn't think they were usual. Mine just say transaction impossible if my bank account is empty.

I'm thought debit cards were for people with green numbers on their spending account. There are also plenty of options for debit cards with basically 0 fees. I've never paid more than 30-40ish bucks a year in fees if I discound foreign withdrawals and the interest usually cancels that out.

I think generally they are. With mine I can't spend money I don't have in my current account.

Devrim

[Kornilios Sunshine]

Please DO NOT do it.My mother had one,it had really high interest and you might be forgotten and spend too much on it an form a debt.I would strongly recommend you no to get one.Well if you think you won't do many expenses, do it.However, I would recommend you get a debit card (not meaning that Debit Cards are good)

[praxis1966]

I'm thought debit cards were for people with green numbers on their spending account. There are also plenty of options for debit cards with basically 0 fees. I've never paid more than 30-40ish bucks a year in fees if I discound foreign withdrawals and the interest usually cancels that out.

That's true, but I was talking about credit cards, not debit cards. Sorry for any confusion.:)

[Nox]

Credit really is a double-edged sword.

Either you don't use it but you struggle to pay for things, or you do use them and you pay an extra 5% or whatever.

My advice would be only use them for things that you definitely can't pay for in one chunk - using a credit card is like a snowball; the payments get higher and higher as you use it more and more.

[Rusty Shackleford]

I think i am going to do it. If i can take care of this ticket, i can free up some of my income again and put it towards helping with rent and groceries. Ive had this ticket looming over me for 9 out of 11 months of me having a fucking job. In june or july i decided to not fight it because it may have costed more. on top of that, i needed to get auto insurance so i dont get fucked.


fuck.

i plan on also ordering 20 HDTVs and 10 tonnes of gold.





My advice is don't buy the ticket and don't go wherever you were going but try and save some money then you have at least one months salary in reserve.



i should have clarified. this Ticket is a traffic violation which with traffic school, costs $449 because some municipal pig was on an interstate highway and thought "ooh i can snag a tourist" its hardly something for pleasure. this is basically the last resort. if i dont pay it in time, i could get fined another $300 on top of it.

[maskerade]

stay away from it if you can.

[ellipsis]

getting close to pay off the only credit card i have ever had!!

[o well this is ok I guess]

Do what my dad used to do
If he didn't want to use it at all, he'd throw it in a bucket of water and put the bucket in the deepfreeze.

[black magick hustla]

i think i fucked my american credit history because some collection agency was baying for my blood. well they can go fuck themselves new country

[bcbm]

get a credit card. make small purchases and establish a good credit history and increase the amount you are allowed to have on the card. get new cards with similarly high $$$ amounts. once you reach your desired level of free money buy a ticket to a nice country you would like, buy a ton of new shit there to start your new life and just make sure they can't get your address.

[StoneFrog]

get a credit card. Make small purchases and establish a good credit history and increase the amount you are allowed to have on the card. Get new cards with similarly high $$$ amounts. Once you reach your desired level of free money buy a ticket to a nice country you would like, buy a ton of new shit there to start your new life and just make sure they can't get your address.

to cuba we go!!

[bcbm]

do they take american express?

[teflon_john]

whatever, just get one and max it out and never pay it off. fuck credit scores, who cares?

[Rusty Shackleford]

whatever, just get one and max it out and never pay it off. fuck credit scores, who cares?
i just had a dream that i armed myself to the teeth when i found out a collection agency was on me. started off with shooting a pellet at a repo van, i ended up with several rifles....


not a good idea :lol:

[danyboy27]

I have an account with a credit union and the low interest on the credit card are definitively worth it.

To me, credit cards are pretty much a mean of making transaction off the net, if i could dirrectly use my bank account instead, i would.

if you have a problem with liquidity, credit wont solve your problem tho, only make it worst.

[Devrim]

i should have clarified. this Ticket is a traffic violation which with traffic school, costs $449 because some municipal pig was on an interstate highway and thought "ooh i can snag a tourist" its hardly something for pleasure. this is basically the last resort. if i dont pay it in time, i could get fined another $300 on top of it.

Wow, that is really expensive. If you have to pay then you have to pay. Doesn't the court have a system where you can pay by installment though?

I don't think I know anyone in this country who has ever paid a traffic fine. You just bribe the policeman when he stops you. It is much cheaper.

Devrim

[Nothing Human Is Alien]

i just had a dream that i armed myself to the teeth when i found out a collection agency was on me. started off with shooting a pellet at a repo van, i ended up with several rifles....


not a good idea :lol:

Except nothing like that actually happens. You won't ever see a repo man, unless you buy some really big individual items that they can actually repossess. Credit enforcement in the United States is almost entirely based on fear.

I and several people I know got their hands on all the credit cards they could, maxed them out in a very short period, and never paid them. It goes on your credit report, you get a bad credit score, and you get some calls and letters. But as long as you don't make any payments, they are removed from your credit report after 7 years.

[Nothing Human Is Alien]

Wow, that is really expensive. If you have to pay then you have to pay. Doesn't the court have a system where you can pay by installment though?

I don't think I know anyone in this country who has ever paid a traffic fine. You just bribe the policeman when he stops you. It is much cheaper.

Devrim I've been in some other countries where "a ticket" involves handing the cop a few dollars. Not here.

If you don't pay them here, or establish a payment plan, usually within a month, you lose your drivers license and/or go to jail.

[Devrim]

I've been in some other countries where "a ticket" involves handing the cop a few dollars. Not here.

Yes, I would imagine so


If you don't pay them here, or establish a payment plan, usually within a month, you lose your drivers license and/or go to jail.

But there is an alternative to paying in one go, which is linked to ability to pay. I would imagine that it wouldn't charge interest, and if it did it would be at a better rate than a credit card.

Devrim

[Nothing Human Is Alien]

Mafia loan sharks give better rates than credit card companies.

[praxis1966]

But there is an alternative to paying in one go, which is linked to ability to pay. I would imagine that it wouldn't charge interest, and if it did it would be at a better rate than a credit card.

Devrim

I dunno if this is even possible in Cali since I haven't had a traffic violation here... I know in Florida it's not an option. You can have the due date pushed back up to 90 days, but they don't accept partial payments there.

[deLarge]

I just maintain a negative balance on my credit card (i.e., pay it off and then some, so the bank owes me money), and treat it like a debit card with no overdraft fees. Pay it off every month.

[Decolonize The Left]

So, I bank with a Credit Union. Right now I have a debit card. The reason why I am asking whether or not I should get a credit card is I have shit I need to pay like a ticket that is consuming all of my immediate money. I have bills as well.

Since my employment is relatively stable right now, how much better would it be to pay for said ticket immediately and pay off the card over a long period of time? I dont plan on buying food and shit like that because it would just consume too much too fast. But if I make one major transaction like that, would it be safest? I could be building credit and stuff by doing so.

Assuming interest is low, monthly payments on a small $200-300 purchase wouldn't be too bad would they?

My personal policy has pretty much been "dont fucking touch credit cards," but I might have to now.

Any tips? Suggestions? Opinions?

You should get a credit card, if nothing other than to build credit. Use your card for groceries, gas, etc... things you need every week and have to buy regardless of your situation. Whatever you do, pay your balance off at the end of the month. It's really easy if you manage your money well. Do not pay your credit card balance in payments, you will end up paying enormous amounts in interest and relatively little on the principle.

Keep your debit card on hand in case you don't have cash, but pay with your credit card and cash as much as possible. Also, good for you for banking with a credit union. They are non-profit organizations, offer better service and lower rates, and they serve your community.

- August

[RedSquare]

The only people who should use a credit card are those who are certain they can meet their monthly payments on time in full. Personally I'm for debit cards all the way, since they are now backed by VISA so can be used anywhere VISA operate and can be used to guarantee personal cheques (depends on provider).

The only fee is about $4/€5 per year here, and that covers ATMs, offline and online purchases, and a cheque guarantee up to €130. Also get a free daily balance text message, and can get an optional overdraft up to €1,500 if necessary.