Comments | sepp: Writer's Block: Occupy Wall-et

sepp

Writer's Block: Occupy Wall-et

Nov 22, 2011 03:31

Comments 7

kashmere_horse November 22 2011, 17:20:46 UTC

Same! It feels good :3
I'd rather not use my credit card either, because it'd just nag in the back of my head 'You need to pay xxx$ back'

ferahgo November 22 2011, 18:09:30 UTC

Same here, now that my car has been 100% paid off. :> Debt free is the way to be.

Though I do have to say that using credit cards can be really helpful to your credit score, as long as you stay on top of paying the bill!

khirainshambles November 22 2011, 21:56:16 UTC

You are so much smarter than I am. XD

greenreaper January 4 2012, 10:04:37 UTC

Revolving debt can be a temptation to some to spend more than they can afford. For those people, it makes sense to stay away.

I use them all the time for the rewards (a Visa and Discover card), but I pay them off every month. Never paid interest on a card.

Unless you can say you'll never need to take out a loan, it can pay to use a credit card, even occasionally. I recently got 2.24% on an auto loan from my credit union, and I'm pretty sure that's because they could look at six years of paying back on time.

sepp January 4 2012, 10:08:18 UTC

When I was a teenager and young adult, my parents put my name on their credit card account and would let me use my own credit card (their account just the card had my name on it) - that gave me very good credit, and I still have good credit because of it :3 It also taught me a lot of responsibility, of course, but overall it was a great thing for them to do for me.

greenreaper January 4 2012, 10:14:41 UTC

That's neat of them, indeed! It's a little trickier when you're a (legal) immigrant like myself; I was initially denied even a non-rewards card, and I only started one thanks to the intervention of my new bank (who knew I had a good salary coming in by then).

It's a shame that more parents aren't active about teaching their kids about money - it's just essential knowledge these days.

sepp January 4 2012, 10:21:34 UTC

I agree, it was a good move on my parents part :)

All parents should at least try to teach their kids about money. It's something that could literally rule their lives as adults, it's just SO important.