Credit Card

Reba said:
The Sprint executive told TCS that they don't care whose name is on a bank account or phone account--as long as there is money in the account they will take it. Yes, he said exactly that.
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Doesn't surprise me. Really gives you a warm, fuzzy feeling inside knowing people have such high ethical standards....
 
When you place an order online (using paypal, credit card or debit card), always "wash" your hard drive for your security afterwards, even though it's encrypted. Hackers are getting smarter now.
 
I have a deep dislike for credit cards these days, but understand that they are a necessary evil sometimes. My wife has one that she uses to buy all her books and study aids for University - shes pays the balance off when she does her tax return as stuff like that's tax deductable.

When I was single and living on my own in the UK I got into trouble with credit cards, no so much trouble that I had bailiffs banging on my door although if I hadn't have emigrated and paid them off it probably would have got to that.
I got the first card in 2003, ran up about 4k sterling on it, then got another credit card to pay off the first card - then got another credit card in 2007 because all of my weekly wage ( Was working for Land-Rover then and doing fairly well ) was going on trying to repay the cards.
When I emigrated in 2008 I took all the debt with me and carried on paying the cards off - although if I was of a less honest nature I simply could have stopped paying them.
I finally sold my flat in the UK in 2010 and what little profit I made went on paying off and cancelling the credit cards.

I never want to have another credit card.
 
Foxrac said:
The credit card is necessary to build the credit so you can buy car or house in near future.

Just don't overspend with credit card - need spend $50 so pay $50 back in next bill.
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Agreed with you. I used credit card a lot when I was high school and college student when I was part-time job as high school and almost full-time job as college. I used CC for pay gas, food, and college books only. That's it. Later, I become older and switched from CC to debt card and I keeps CC as emergency only. My credit is GREAT and bought a house and brand new SUV without a problem. I know one of my friend never use CC and he WONT use it due fear of big fee and higher interest. Now He had a hard time find a house for his family due he got low credit. He have wife, two kids and still live at his wife's parent house. So We explained him that he should use CC as simple like food, gas, etc, NOT enjoy money as big tv, computer, etc. He learned his big lesson and feel waste his time and he finally start use CC and long way for him to buy a house.
 
Reba said:
For a house, yes. For a car, no. One can save up cash for a starter car, and then trade up later. I bought my first car for cash ($850). It's not easy but it's possible.

For young people, the house may be in the far future, not the near future.
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Well, We bought a house when we were 26 years old. Most apartments do not accept large dogs and house's payment with FIXED is cheaper than apartment's rent monthly for long term. We got small house then remodel then sell it and made more profit and buy bigger house later.

Also auto insurance got discount if you own a house and apartments don't.
 
The Highlander said:
Well, We bought a house when we were 26 years old. Most apartments do not accept large dogs and house's payment with FIXED is cheaper than apartment's rent monthly for long term. We got small house then remodel then sell it and made more profit and buy bigger house later.

Also auto insurance got discount if you own a house and apartments don't.
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The discount is probably a multi-line discount. The more things you insure, the more of a discount you get. If you insure only a car, you pay that rate, but if you also have a 2nd car, or a motorcycle, or a house, or anything else worth insuring, it becomes a multi-line and is usually thereby discounted. It's not about owing the house vs. renting, it's about owing the house AND insuring it among other things you are insuring.
 
Foxrac said:
It isn't always guaranteed because I received a overcharge (over $300) from legit online retailer because they made mistake and fixed it - it took several days to credit to my account. My credit card was hacked after made a purchase via Amazon, despite about being legit retail.

You never know no matter.
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Right, I almost never use credit card or debt card to order stuff fron online. I use paypal (PP) for almost 10 years. I use PP for newegg.com and ebay.com mostly times and no problem so far. I remembered my wife ordered Kimono (GI) from Japan for Brazilian jiu-jitsu class with her debt card. Then she got GI, Almost few weeks later, Her debt card got hacked and took almost $1k from our bank and bank alert us and traced hacker from Australia. So we got money back and expired old debt card and got new debt card then she switched to PP for order online.
 
AlleyCat said:
The discount is probably a multi-line discount. The more things you insure, the more of a discount you get. If you insure only a car, you pay that rate, but if you also have a 2nd car, or a motorcycle, or a house, or anything else worth insuring, it becomes a multi-line and is usually thereby discounted. It's not about owing the house vs. renting, it's about owing the house AND insuring it among other things you are insuring.
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Right. I think apartment don't accept your auto insurance. I may be wrong. I remembered my friend from Texas and his apartment got robbed (large TV, PS3, two computers,games, and some books got stole) and he lost everything and no insurance cover. Scary.
 
Reba said:
It means what kind of house do you expect to buy for your first home?

Location?

Single home on large lot, condo, duplex, townhouse?

Neighborhood amenities? (community pool, golf course, playground, sidewalks, walking/jogging trails, bike lanes)

How many square feet?

How many bedrooms/bathrooms?

Garage?

Builder grade materials (laminate counters, vinyl and carpet flooring, standard appliances, very little trim) or upgraded materials (granite counters, hard wood flooring, professional style appliances, crown molding, architectural shingles)?
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You forget to add 30 oz carpet as builder grade or 50-60 oz carpet as premium grade.

Most newer McMansion come with builder grade of carpet - 25-30 oz and hardware floor with minimum finished - very cheap. :ugh:
 
The Highlander said:
Right. I think apartment don't accept your auto insurance. I may be wrong. I remembered my friend from Texas and his apartment got robbed (large TV, PS3, two computers,games, and some books got stole) and he lost everything and no insurance cover. Scary.
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Yes, the apartment has very high burglary rate in my state.
 
The Highlander said:
Well, We bought a house when we were 26 years old. Most apartments do not accept large dogs and house's payment with FIXED is cheaper than apartment's rent monthly for long term. We got small house then remodel then sell it and made more profit and buy bigger house later.

Also auto insurance got discount if you own a house and apartments don't.
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Yes, cheapest to buy is trailer home - common in southwestern state (include CA) and southeastern states or houses in inner city.

I do not like rental property/apartment because I don't want deal with landlord that dictate about can put in or can't put in - you can't remodel the apartment. If you don't like what landlord puts like pink wall - too bad. I prefer to own a house because I can remodel myself.
 
Foxrac said:
Yes, cheapest to buy is trailer home - common in southwestern state (include CA) and southeastern states or houses in inner city.

I do not like rental property/apartment because I don't want deal with landlord that dictate about can put in or can't put in - you can't remodel the apartment. If you don't like what landlord puts like pink wall - too bad. I prefer to own a house because I can remodel myself.
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Yep. We remodel a lot for years. Removed vinyl and carpet flooring from office, guest room, and living room then Installed bamboo hardwood flooring. Painted, I installed ceiling fan, replaced all outdated outlet (no ground) with GFCI oulet, Replaced new windows, etc. Lot to works.

Too many of my friends complained about their landlord due Deaf issue. Nothing news.
 
The Highlander said:
Yep. We remodel a lot for years. Removed vinyl and carpet flooring from office, guest room, and living room then Installed bamboo hardwood flooring. Painted, I installed ceiling fan, replaced all outdated outlet (no ground) with GFCI oulet, Replaced new windows, etc. Lot to works.
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Yes, my father teach me how to remodel the house.
 
You can get renter's insurance for a place you are renting. It's different from house insurance. I'm not 100% sure if it qualifies for the same multi-line discount. Have to check with your insurance carrier.
 
Lau2046 said:
A debit card takes the money direct out of your savings. You aren't worried someone could get that number and empty your bank account? At least with my credit card, my savings are safe.
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That's the idea I use. Credit card purchases can be disputed, debit cards are the equivalent of cash and can not. I avoid interest charges by paying it off the next month, plus by using it as a primary source, I rack up miles for discounted airfare since I travel often.
 
Jess said:
That's the idea I use. Credit card purchases can be disputed, debit cards are the equivalent of cash and can not. I avoid interest charges by paying it off the next month, plus by using it as a primary source, I rack up miles for discounted airfare since I travel often.
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please visit me on your next travel :aw:
 
so I'm seeing some posts about credit card being a trap. hmmm well I guess it takes a discipline to not let it be a trap for you. I rarely.... or never used my debit card for anything. once a money is gone from your account, it's gone. bye bye. ta-ta. boom boom. it's a hassle to dispute it.

credit card? easy as a pie. call'em.. dispute it... CC's closed... new CC will be issued... no problem. headache free.

I have several CCs because of different rewards and one-year interest rate free in the past. a few years ago - I had a bit of bad financial management and I racked up quite a bit of debt and spread it to several CCs. you definitely do not wanna know how much :shock:

but it got much better shortly later on and now I only use 1. currently zero debt (except college loans but the interest rate is so small). CC bills are paid in full automatically every month. I check my accounts every week to ensure that everything's fine and that I'm not spending too much.

the reason why I didn't close most of my CCs is because of credit score. for example - total credit limit from all CCs is $50,000. closing $50,000 worth of CCs will cause your credit score to drop quite a bit. you definitely do not want that to happen. it's best to leave it open and never use it.
 
Jiro said:
so I'm seeing some posts about credit card being a trap. hmmm well I guess it takes a discipline to not let it be a trap for you. I rarely.... or never used my debit card for anything. once a money is gone from your account, it's gone. bye bye. ta-ta. boom boom. it's a hassle to dispute it.

credit card? easy as a pie. call'em.. dispute it... CC's closed... new CC will be issued... no problem. headache free.

I have several CCs because of different rewards and one-year interest rate free in the past. a few years ago - I had a bit of bad financial management and I racked up quite a bit of debt and spread it to several CCs. you definitely do not wanna know how much :shock:

but it got much better shortly later on and now I only use 1. currently zero debt (except college loans but the interest rate is so small). CC bills are paid in full automatically every month. I check my accounts every week to ensure that everything's fine and that I'm not spending too much.

the reason why I didn't close most of my CCs is because of credit score. for example - total credit limit from all CCs is $50,000. closing $50,000 worth of CCs will cause your credit score to drop quite a bit. you definitely do not want that to happen. it's best to leave it open and never use it.
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:ty: for your advice.

I already paid one CC off and didn't use it anymore - I don't close it yet.

I have 3 CC to left now - 2 out of 3 will pay off in one year.
 
Foxrac said:
You forget to add 30 oz carpet as builder grade or 50-60 oz carpet as premium grade.
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I didn't list everything!

Most newer McMansion come with builder grade of carpet - 25-30 oz and hardware floor with minimum finished - very cheap. :ugh:
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So, what do you expect to get for your starter home?
 
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