BF2S Forums Which credit card is better?

Pug wrote:

SEREMAKER wrote:

Pug wrote:

Not quite sure wut you mean.  If your credit score is better, the lower rate you get, the lower rate you get, the more you can borrow.

lower rate yes .......... more you can borrow - not really


you can up to a certain amount then they want collateral

I always thought they look at the monthly payments as far as the ability to pay.  In other words, a higher rate = a higher payment = you have to borrow less because of a restriction on cash flow.

it really depends on the amount you're looking to borrow

a person can take a $10,000 only based on your credit score ...... or use your vehicle ( that is paid off and worth more then the loan ) and get much lower payments

if i need to borrow money i use 1/2 cash and the rest in my credit cards. i know a crap load of people that have maxed out at least 3 cards.

SEREMAKER wrote:

sounds like you're going with AMEX ..... make sure they don't lock you in with a annual fee for having their card

they may wave it for the first year but make sure they don't get you for next year

Either AmEx or a Wells Fargo Visa. Depends on which one will give me a better rate. And yeah, I'm fairly certain that the Blue Cash card is always no annual fee (unlike their jetBlue card, which sounds awesome except for that fee).

as a Wells Fargo shareholder, I have to say, with all impartiality, that Wells Fargo Visa card is your best bet.

CameronPoe wrote:

Why don't you just save up for what you want to buy and be done with cards?

Cause buying on credit, gets me shit sooner, saves me money and gives me rewards.

I know stuff about this.. If you get a credit card, never go over the 50%, if you have a 1000 dollar card, never have more then 500 dollars on it.

If you have credit and it's maxed out, even if you make your payments ever month it will hurt your scores. Also Beware Deferment with Student loans, even if you're in the process of extending the deferment they'll report you as late.. Why Cause they're scumbags..

Also make sure to pay the card when  you're suppose to, to avoid the late charges. Even though they won't report a 30 day late till you're 30 days late..

If you have cards and want to get rid of them, cut them up, never cancell them with the bank.. It's like an admission that you can't handle the responsibilty of card.

cpt.fass1 wrote:

DrunkFace wrote:

CameronPoe wrote:

Why don't you just save up for what you want to buy and be done with cards?

Cause buying on credit, gets me shit sooner, saves me money and gives me rewards.

How does paying an interest rate on borrowered money save you money?

Because I don't buy shit I can't afford and manage my money to take full advantage of interest free periods.

The only interest I pay is on my mortgage, and as that isn't much more then rents around here and the fact I'm making capital growth in excess of interest repayments it's making me richer.
The mortgage also has a redraw facility which allows me to put all my income into the home loan reducing interest (which is calculated daily) and buy things on credit. For larger purchases ie. the LCD TV I just bought for $3000 with 24 months interest free or for smaller things like the daily groceries on credit card with 60 days interest free. Then when the interest free period is up, I redraw money from the home loan to pay them off.

Then I get frequent flier points for everything purchased on credit cards, which atm is worth a little over 2 return flights to the UK (~$3000).

Oh just remember, even though you can handle your finances(right now) and hopefully it will be forever. But there's always a chance that you might loss your job..

Credit cards are the devil. Just say no.

Hurricane2k9 wrote:

Ticia wrote:

Credit cards are the devil. Just say no.

Then how, pray tell, do I increase my credit score? At some point I may want to do things like:

-Receive a student loan at a good rate
-Receive a car loan or lease at a good rate
-Receive a mortgage at a good rate
-Have my card interest lowered for good credit or get a new card at a low rate
-Not have to make a deposit when buying things
-Look better for some jobs (especially jobs that require security clearances and extensive background checks. A person with a terrible credit history doesn't look good to things like the military, FBI, or employment for high-level positions)

I do think that credit card companies engage in some shady sheeeeeeeit, as do banks. But just like guns, when used properly credit cards are great tools. It's when used improperly that they're dangerous.

First of all getting a credit card to build credit is an illusion. You end up having problems paying the balance every month then before you know it you end up with a year balance you have to get a loan to pay. If a bank or a company looks into your history will they be more impressed by how you got credit once or by how you couldn't make payments in time?
When i say that plastic is evil i mean how much easier it is to over spend by putting it all on your credit card as when we buy with cash we are a lot more conscious about our shopping.
My advice is to save,save,save. Save enough to buy your car. Work through college to pay tuition. If you can't afford to buy a house then rent. Get an emergency fund in case you loose your job.And so on.
The only loan i ever got was to start my business and i found an investor, an year later i've payed it all with interests whereas if i had went to the bank i would be paying for at least 20 years.

Ticia wrote:

Hurricane2k9 wrote:

Ticia wrote:

Credit cards are the devil. Just say no.

Then how, pray tell, do I increase my credit score? At some point I may want to do things like:

-Receive a student loan at a good rate
-Receive a car loan or lease at a good rate
-Receive a mortgage at a good rate
-Have my card interest lowered for good credit or get a new card at a low rate
-Not have to make a deposit when buying things
-Look better for some jobs (especially jobs that require security clearances and extensive background checks. A person with a terrible credit history doesn't look good to things like the military, FBI, or employment for high-level positions)

I do think that credit card companies engage in some shady sheeeeeeeit, as do banks. But just like guns, when used properly credit cards are great tools. It's when used improperly that they're dangerous.

First of all getting a credit card to build credit is an illusion. You end up having problems paying the balance every month then before you know it you end up with a year balance you have to get a loan to pay. If a bank or a company looks into your history will they be more impressed by how you got credit once or by how you couldn't make payments in time?
When i say that plastic is evil i mean how much easier it is to over spend by putting it all on your credit card as when we buy with cash we are a lot more conscious about our shopping.
My advice is to save,save,save. Save enough to buy your car. Work through college to pay tuition. If you can't afford to buy a house then rent. Get an emergency fund in case you loose your job.And so on.
The only loan i ever got was to start my business and i found an investor, an year later i've payed it all with interests whereas if i had went to the bank i would be paying for at least 20 years.

if you're irresposible then of course credit cards are evil bc you're just digging a debt hole that you will take you years to get out

you have to have an established credit history if you want anything in this country

car - yeah try saving $10,000 ( and thats for a nice user or a KIA ), you need to have an established good credit histroy for a loan

house - renting - nice way to toss money out the window

paying college through working - welcome to community/techincal college



the whole " save, save, save " theory sounds nice on paper but in reality in this country its almost impossible

Ticia wrote:

SEREMAKER wrote:

if you're irresposible then of course credit cards are evil bc you're just digging a debt hole that you will take you years to get out

you have to have an established credit history if you want anything in this country

car - yeah try saving $10,000 ( and thats for a nice user or a KIA ), you need to have an established good credit histroy for a loan

house - renting - nice way to toss money out the window

paying college through working - welcome to community/techincal college



the whole " save, save, save " theory sounds nice on paper but in reality in this country its almost impossible

They let you believe you need credit companies and banks(it's not only in the US but all over the world) but if you try doing it differently you have more chance to succeed.
You telling me that a college kid needs a car worth 10 grand? When i was 18 i drove a crappy used Renault 5 and it took me everywhere i wanted to go,.
House renting is the best way to go,no mortgage,no maintenance,lower insurance rates. Plus who the hell can predict the future,in the 50 years it takes me to buy my house i might change my mind 50 times about where i want to live and with whom.
As for college 'cause it seems in the US will never be free :p, make your parents pay for it or something like that.

so let me visualize your post :

I'm a college kid ( well I was because now I can't afford the tuition and my parents can't help out either ) I live in a run down piss poor apartment bc renting is higher then a mortgage payment, I have shit car parked outside running 4 balled tires, overheats and the transmission is slipping, the inside of apartment has a futon - a cement block entertainment center with a tv from '87 - a vhs/dvd combo - a wire spool for a dinner table

but Hey I don't have to worry about those evil credit card companies or banks because I'm saving every week on top of paying a monthly renting fee, gas, food, car insurance, utility bills, clothing, entertainment