Simviation Forums

Posted: **Thu Jun 15, 2006 12:12 pm**

http://www.wired.com/news/technology/0, ... =rss.index

It's quite a read.

Posted: **Thu Jun 15, 2006 12:55 pm**

thats good stuff for will-be credit card owners (like me). i personally hate the idea of credit cards, but my mom keeps telling me i should have one in case an emergency arises. bleh.

ramos

Posted: **Thu Jun 15, 2006 2:23 pm**

Hey look if you haven't got the cash just mug an old lady... they're always loaded

Posted: **Thu Jun 15, 2006 6:01 pm**

Hey look if you haven't got the cash just mug an old lady... they're always loaded

Oz, are you skipping your doses again?

Posted: **Thu Jun 15, 2006 6:17 pm**

thats good stuff for will-be credit card owners (like me). i personally hate the idea of credit cards, but my mom keeps telling me i should have one in case an emergency arises. bleh.

ramos

That and someday when you go to buy a house or get a loan of any sort you'll have a credit history going for you. Otherwise I've heard it is tougher.

Posted: **Thu Jun 15, 2006 7:31 pm**

That and someday when you go to buy a house or get a loan of any sort you'll have a credit history going for you. Otherwise I've heard it is tougher.

Not just hard. It's damned near impossible. My dad had always paid cash, saved for what he wanted and never had to borrow or use a credit card. When he wanted to buy a used car $3,000 the bank refused him a loan.

All he wanted was a 90 day loan because he needed it right away. Even though he had a savings certificate for $50,000 due to mature in 60 days he was refused on the basis of no credit history. Luckily the car dealer knew him well so he let him have the car on promise to pay when the certificate came due.

On the other hand don't misues your credit card. That's what leads so many people to get into credit problems. Try your best to only use it for emergencies and pay off the balance every month. Running up a high balance and paying minimum payments will cost you a fortune in the long run.

Be careful with the CC#. Also make sure the card you pick has a good fraud policy. Many will not charge you for fraudulent purchases if you report them within 90 days.

Also check your statement carefully every month and keep informed of what your credit report says. If anything doesn't look right in your credit report check it out and have a letter put on file with your credit report.

And of course if your card is lost or stolen report it right away and close the account immediately. Don't wait for a fraudulent purchase to show up before taking action on a stolen CC.

Posted: **Thu Jun 15, 2006 7:57 pm**

I once left my debit card on the ATM machine by accident after withdrawing some cash. I found out that I left it there when I got home. So I called the bank and told them to freeze the card immediately and so they did. The next day, I recieved a new card and a call from Security Forces telling me that they found my card. Obviousely I told them to shred it because it was useless when frozen. ::)

Since then I have been keeping a close eye on my bank account and my bank always calls if they see a suspicious pattern in my spending habits.

Posted: **Fri Jun 16, 2006 3:59 am**

but my mom keeps telling me i should have one in case an emergency arises.

And that is the most ridiculous reason for having one in the first place, and the first step in the road to lifetime debt

Ask your mom how much she owes for "emergencies"

You need to save money for use in a emergency not a credit card. Becasue when that emergency arises it won't be cheap to begin with and you dont already have the cash to start off with to pay for it, then need the extra cash for interest payments etc....... in the end you are $30K in debt that you will be paying for the rest of your life

Saving your money ahead of time is the way to go.

Everyone I know that got a credit card for "emergencies" is now paying off debits that will take a lifetime. It all starts with good intentions but then you will find a game or cd that you "must have" and think "well only this one time" and then use your card next thing you know you will be paying more than you make in a year and need to turn towards credit to live on.

Trust me I know I did the same thing and it cost me dearly, I was fortunate to realize what I got into and paid off everything. It is amazing now how much money I do have without any credit cards!

Bottom line is there is no good or resonable excuse for having a credit card, you DON'T need one for a loan, to buy a car, house etc.... And never let anyone tell you that you do! Chances are with a credit card you'll have a harder time doing those things becasue you will already have a debt on your record

Posted: **Fri Jun 16, 2006 10:17 am**

Hey look if you haven't got the cash just mug an old lady... they're always loaded

Setting yourself up, again? Thanks to Omag, Eno, et.al., we've seen you in the dress and you've frequently admitted to being loaded!

8)

Posted: **Fri Jun 16, 2006 10:30 am**

And that is the most ridiculous reason for having one in the first place, and the first step in the road to lifetime debt
Ask your mom how much she owes for "emergencies"

You need to save money for use in a emergency not a credit card. Becasue when that emergency arises it won't be cheap to begin with and you dont already have the cash to start off with to pay for it, then need the extra cash for interest payments etc....... in the end you are $30K in debt that you will be paying for the rest of your life Saving your money ahead of time is the way to go.

Everyone I know that got a credit card for "emergencies" is now paying off debits that will take a lifetime. It all starts with good intentions but then you will find a game or cd that you "must have" and think "well only this one time" and then use your card next thing you know you will be paying more than you make in a year and need to turn towards credit to live on.

Trust me I know I did the same thing and it cost me dearly, I was fortunate to realize what I got into and paid off everything. It is amazing now how much money I do have without any credit cards!

Bottom line is there is no good or resonable excuse for having a credit card, you DON'T need one for a loan, to buy a car, house etc.... And never let anyone tell you that you do! Chances are with a credit card you'll have a harder time doing those things becasue you will already have a debt on your record

ya think? thats why im reluctant to get one.

however i only applied for one credit card, i knew i would be turned down for insufficent credit history. i just wanted the free 12 pack of mountain dew ::)

ha! see credit cards come in handy!

ramos

Posted: **Fri Jun 16, 2006 11:39 am**

I've only had one "debit" card and that was it. "Credit" cards were never my favorites. But even then, I had to keep an eye on my spending habits or else I'm screwed.

Posted: **Fri Jun 16, 2006 12:04 pm**

I've only had one "debit" card and that was it. "Credit" cards were never my favorites. But even then, I had to keep an eye on my spending habits or else I'm screwed.

i've been through 3 debit cards (all with the same bank, just changes in the account itself.

i really could not trust myself with a credit card. you honestly dont know how much it's paining me to not touch my savings money. it's so close yet so far.

ramos

Posted: **Fri Jun 16, 2006 3:31 pm**

Yes the free gifts card companied offer just for applying can be nice, but BEWARE!

Everytime that you apply for credit, they run a credit check, every credit check makes your credit rating go up, the higher the rating the worst your credit.
After so many it throws a "red flag" to creditors, basically it is showing your are desperate in getting credit and no one will give it to you.

So yes just applying for credit affects your credit rating.

Posted: **Fri Jun 16, 2006 3:47 pm**

I refused to have a credit card until my first visit to the US. I soon realised that if I wished to visit again I would need one. After having one for many years I find it so convenient I can't imagine life without it.

These things are fine if you use them to your own advantage. The secret is not to fall into debt. I've always been careful with my money & won't buy anything I can't afford. Using the card instead of cash or cheque simply delays payment which can save a lot of money if you do it properly. The credit card company never made anything out of me as I make sure to settle the bill in full every month. If you can't do that for any reason, you shouldn't even think about applying for a credit card.

Posted: **Fri Jun 16, 2006 5:05 pm**

I refused to have a credit card until my first visit to the US. I soon realised that if I wished to visit again I would need one. After having one for many years I find it so convenient I can't imagine life without it.

These things are fine if you use them to your own advantage. The secret is not to fall into debt. I've always been careful with my money & won't buy anything I can't afford. Using the card instead of cash or cheque simply delays payment which can save a lot of money if you do it properly. The credit card company never made anything out of me as I make sure to settle the bill in full every month. If you can't do that for any reason, you shouldn't even think about applying for a credit card.

Words from the wise one.

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