[thechaoz]

Does APR even matter if you pay your bill off on time always? Dont even know what mine is. Do you negotiate for lower?

No, you have 30 days in the cycle. If you pay in full the next apr means nothing

[nyplayer33]

Eating out n buying alot drinks road is waste $$$$

[grease lightnin]

You don’t even have to pay the entire balance off monthly. As long as you pay your previous month statement in full each month you will avoid interest and your score will go up after doing this consistently for 6 months or so

Yes, good call, this is what I meant. Pay the statement balance. Just make sure you always half have of total credit extended to you available. Ex. If your total credit limit is 10k, never have more that 5k outstanding if you want to grow your score.

[grease lightnin]

They only give credit to people who are profitable to the banking industry. If you have good credit you probably get raped via interest all the time.

Don’t listen to this guy ^^^.

Based on this response he has no business advising anyone.

[ApricotSinner32]

Don’t listen to this guy ^^^.

Based on this response he has no business advising anyone.

I'm sure warren buffet cares about his credit score. People with assets and cash don't need juiced loans from the banks.

[RockBottom]

I'm sure warren buffet cares about his credit score. People with assets and cash don't need juiced loans from the banks.

Why use your cash on 0% car loans when you can use their money? On the day the 0% promo ends, you pay it off. You have to account for the time value of money also.

[MickeyMan]

I’m just surprised that a guy who goes by the name of Tony Phizzle has bad credit

[pavyracer]

If your credit score is more than 750 you get 2% rate for a car loan. If it is less than 600 you get 12%. This could be thousands of dollars in savings for a new car.

[grease lightnin]

I'm sure warren buffet cares about his credit score. People with assets and cash don't need juiced loans from the banks.

Actually the affluent borrow money to invest all the time. So do businesses, small and even large, publicly traded corporations. Ever heard of a corporate bond? What do you think that is? Hint: it’s a LOAN. The amount of interest the company pays is based on it’s CREDIT RATING. Read up a bit on investopedia and then you’ll be ready for me to give you a tutorial. Right now you’re not ready for that yet.



EDIT: for added burial measure: here is a Berkshire Hathaway bond. You can loan your money to Warren Buffet by purchasing one. I assure you he is concerned with the credit rating. http://cbonds.com/emissions/issue/53389

[ApricotSinner32]

Actually the affluent borrow money to invest all the time. So do business, small and even large, publicly traded corporations. Ever heard of a corporate bond? What do you think that is? Read up a bit on investopedia and then you be ready for me to give you a tutorial. Right now you’re not ready for that yet.

Yes smart people can use credit to their advantage. Majority of people are not smart hence would be better off without it.

[grease lightnin]

Yes smart people can use credit to their advantage. Majority of people are not smart hence would be better off without it.

People with no self control may be better without it. It doesn’t take intelligence to put your expenses on a cc and earn rewards. Also, the vast majority of people would never own a home without a mortgage.

Sorry pal. You are just wrong on this one.

[ApricotSinner32]

People with no self control may be better without it. It doesn’t take intelligence to put your expenses on a cc and earn rewards. Also, the vast majority of people would never own a home without a mortgage.

Sorry pal. You are just wrong on this one.

If you pay a mortgage you don't own the house the bank does. The bank calls the consumer a "homeowner" to boost their ego but it's not reality.

[grease lightnin]

If you pay a mortgage you don't own the house the bank does. The bank calls the consumer a "homeowner" to boost their ego but it's not reality.

Ok. So are you suggesting that renting is a better option?

Living in your moms basement for free doesn’t count.

[Big Bear]

Eating out n buying alot drinks road is waste $$$$

its just money man

TIME now that is the only non renewable resource

what good is money if we are too frugal to spend it

[Big Bear]

If you pay a mortgage you don't own the house the bank does. The bank calls the consumer a "homeowner" to boost their ego but it's not reality.

that being said you still own equity in the house

where as you don’t if you rent

Houses bought in the right area often appreciate in value

not to mention at least where I live mortgage payments are MUCH cheaper than rent payments

[grease lightnin]

Sinner is obviously losing at life and feels defeated. Don’t know why somebody in that position would give financial advice and not sure why I would argue with him.

[Smoke]

that being said you still own equity in the house

where as you don’t if you rent

Houses bought in the right area often appreciate in value

not to mention at least where I live mortgage payments are MUCH cheaper than rent payments

Do you live in the hood bear

[teecee]

If you pay a mortgage you don't own the house the bank does. The bank calls the consumer a "homeowner" to boost their ego but it's not reality.

They call them the homeowner so that they have to foot the bill for taxes, insurance and repairs while the bank merely collects interest on a number.

[2daBank]

that being said you still own equity in the house

where as you don’t if you rent

Houses bought in the right area often appreciate in value

not to mention at least where I live mortgage payments are MUCH cheaper than rent payments

Jfc this the 1st post I’ve ever seen from this dude that points to him not being retarded: nice work I guess, so Is the stupidity a act or you really just clueless about sports and gambling? I’m so confused.,

[Booya711]

Jfc this the 1st post I’ve ever seen from this dude that points to him not being retarded: nice work I guess, so Is the stupidity a act or you really just clueless about sports and gambling? I’m so confused.,

[pavyracer]

If you pay a mortgage you don't own the house the bank does. The bank calls the consumer a "homeowner" to boost their ego but it's not reality.

You get equity after a few years. Your debt to the bank lowers and your house price increases. You can sell the house at any time and have cash in hand. With renting all the money for rent goes to your landlord.

[MarkMakers]

Keep your utilization low. (Under 30% of your credit limit)

I typically pay mine off each month before the credit issuer reports to the 3 major bureaus.

[ApricotSinner32]

You get equity after a few years. Your debt to the bank lowers and your house price increases. You can sell the house at any time and have cash in hand. With renting all the money for rent goes to your landlord.

Mortgages are rape. Anyone who signs on the dotted line to get fukked by the banks is a moron.

[grease lightnin]

Mortgages are rape. Anyone who signs on the dotted line to get fukked by the banks is a moron.

What is your living situation?

[MickeyMan]

What is your living situation?

Greaser he obviously bought his house along with the two apartment buildings he owns with cash. Haven’t you been listening?

[Fishhead]

I have damn near perfect credit (score in the 820's) and don't get raped on interest ever.

I have multiple 15k -20k limit cards and I rotate which I use monthly to keep them current. Make EVERY purchase with one....pay EVERY bill (that allows it) with one. At the end of the month I pay off that single card. Not only does it simplify things, but you get money back and keep a stellar credit score.

No one I know pays cash anymore. Those that do are living pay to pay or cant get financing. Why pay cash, when you can have a bank chip in on the purchase with you? It just takes discipline and responsibility.

This