What are you doing right now?
- Thread starter JT20
- Start date
The earlier you start the higher you can reach. And if you want any real chance in life you better figure out how to manage to stand reading books if not actually like it. I guarantee you Warren Buffet, Bill Gates, Jeff Bezos and 99.99% of millionaires and billionaires read a lot of books.
Use it as a convenience tool so you don't have to carry lots of cash or write checks. Key is to not charge more on the credit card than you have in the bank, and pay it off every month so there's no interest - which is insanely high on credit cards right now. That will also build your credit. There are a ton of YT videos about credit card use.
https://www.youtube.com/results?search_query=how+to+properly+use+a+credit+card
A credit card is a means of imprisoning users in debt as most people are incapable of properly handling money. It allows people to spend more than they have after which they pay 20% and maybe more in interest. Debtors prison without the bars. Anything you can do with a credit card you can do with a debit card. Except spend more money than you have. Skip watching 2 baseball games, which mean absolutely nothing in the grand scheme of things, and read the darn book. You are either the master of your money or you are the servant of the creditors (the credit card companies).
A credit card is NOT the way to start the road to good finances, it's a savings account.
He wants to build credit, which can be done with a credit card if you do it right. There are lots of YouTube videos on how to properly build credit with a credit card.
AutoMechanic
Site Donor 2025
I’m walking the dog and reading everyone’s advice here. Varying opinions are ok and I appreciate them. So now I am going to watch some YouTube videos. I will read the book eventually. I know I’m one that likes to spend money not afraid to admit that. I’ve put most of my collecting on hold for right now and I’m not sure if I am going to buy the iPhone when it releases or wait a bit but I do plan to get it. I want to go ahead and get my credit established as I’m going to need credit at some point in my life. Credit Karma has a program where they help you build your credit. I’m reading up on that now too. My dad doesn’t want me to get a credit card but I am reading it’s the best way. He said to build credit with stocks but that’s not possible. I know he will be mad if I sign up for a credit card but I’m an adult so it’s a decision for me to make. A little something funny but Apple sent me a thing wanting me to get their card and I signed up for it and they rejected me lol. It doesn’t say up front you need credit history haha.
Read the book tomorrow. You'll keep putting it off and not do it. You'll get a credit card. You'll do other things. All without the benefit of the knowledge in that book. If you really are an adult you know that "adulting" means sometimes doing things you don't like or want to do, like reading a book. Man up, read the book. You can wait one week to do anything else until you've read it and you may change your outlook and plans. Worst case scenario you know more than you know now and you make your choices as a better informed adult. I haven't had a credit card in 30 plus years. I just got my latest loan in June. Zero percent from Ford or I'd have paid cash. But the point is you don't need a credit card. I'm not a slave to anyone's interest rates. It's true what they say, cash is king.
- Joined
- May 16, 2021
- Messages
- 414
Having a nice hot cup of coffee and reading here on this site.
I really and definitely don't see why you have any urgency at all to get a credit card or to build your credit.
There is really only one GOOD reason to have some number that's relatively high on their controlled scale (the various agencies rating number(s)). That reason is to have access to the lowest possible home loan rate.
Having a card to buy stuff? I know that's why you want a card. You currently don't have the discipline and maybe not the means to pay it to zero every month. For that very reason, just stop thinking about it. As mentioned, get a debit card.
Debit card is good, as is a savings and checking account. But if you’re not good about impulse purchases, and could fall into the trap of not paying off in full, then don’t get one now. Plenty of time left in life.
Won’t hurt to read the books indicated, but see if you can find them at a garage sale for a buck.
Won’t hurt to read the books indicated, but see if you can find them at a garage sale for a buck.
Public library. $0
To reiterate what other people have said, the only reason to care about a good credit score is if you're wanting to get a home loan. If not, then it's irrelevant to your life. A debit card gives you all the convenience benefits of a credit card without the temptation to rack up debt that you can't pay off at the end of the month.
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Janet is a doll....Also got to see my favorite plane in the movie...The B36..
Get one and just use it for gas. PenFed Credit Union gives you 5% cash back too for gas using their card.
Fixed the squeaky garage/hall access door.
Tricky bugger.
Not caused by hinges even though it sounded exactly like it to everyone.
Tricky bugger.
Not caused by hinges even though it sounded exactly like it to everyone.
AutoMechanic
Site Donor 2025
Finally off the windy roads. Now going home to watch some baseball and drink chocolate milk.
