What some will do for a credit card

i have the money, but see, in order to get a house, and car, you need to have some type of credit established.

 

That is true there, is a lot to be said for not spending more than you have in your back pocket. Especially if on cannot grasp the concept that if you spend next months money this month what do you eat on next month. Life is full of surprises.

 

Can you say no debt babby.

 

You do have a point. You have to establish credit somehow. It is important to pay ontime every time. I was careless in college and I got every credit card that was offered, starting with store cards with 26% interest. I maxed every one of them, and then got a discover card to pay for the things I couldn't afford, like food, gas and even rent. I was working just to pay off my cards.

I eventually fell extremely behind in my payments because I wasn't working enough while I was in school, so I got a visa card to help pay my bills. I took out a huge cash advance, which had a higher interest rate. I found myself with a debt of over $15,000 in addition to having a new 95 Dodge Neon to pay for, as well as 3 student loans totalling over $8000. I went through credit counseling for a year and got nowhere with that. I finally consolidated all of my cards with one big loan with low interest.

Once I got out of school, I worked my ass off with three jobs - washing dishes at Denny's from 5 to 8am, moto-photo from 9 to 5, and then a supermarket from 6 to midnight, often working all three in the same day. Sometimes I would have an evening off during the week, but I had to work a shift on the weekend. Living at home with my parents really helped out because I didn't have to pay for rent or food.

Now, I only have a Capitol One card with $700 balance and I consolidated my 3 student loans into one with a lower payment.

I still have the worst credit and I can't qualify for a car or house loan at this point. I make sure to pay on time on my card I have and I can't miss a student loan payment since that is a government loan, and there are more serious consequences than just a late fee.

In retrospect, I wish I had never had all those credit cards and I should have just lived within my means buying only things I could afford with cash. In a way, I think credit card companies are evil and they are all out to get all your money by giving you a little of theirs. But using credit cards responsibly is esential in building your credit for the future.

 

no man you got 20% down you got a house.

 

Whenever this is brought up, I just have to point out that business is booming where the SO works. Can't give out those 10-24 deals fast enough. Amazing. I cannot believe it.

 

That's why they're bankrupt.

 

I want a 200,000 house, thats 40k, aint feelin dishin that much out big city

 

It just blows me away though. The SO is gainfully employed and has a bright future managing a place that continually depends upon stupid people who will incur a pile of debt at ridiculous cost just to drive a new or slightly used automobile.

I love America.

 

One thing I have neve understood is why a credit rating is negatively affected by being continuously checked when shopping for a car. What does it matter that someone is checking your credit rating?