Good Credit Cards

#26
#26
utvolpj said:
I hate it when people start talking like this. There are some that are not responsible with their CC's but are in the minority. With my job I couldn't survive without one and the company doesn't provide it.

If you remember that a CC is not an extension of your net pay then you'll be fine. Use it to build your credit, get rewards, etc and you'll be fine.
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Credit cards are the perfect and fastest way to build credit. When used responsibly. Problem is I think most folks responding on this board got their first cards early and went nuts at the bars and/or shoe store. If this is the case then maybe credit should be earned at a slower pace as JZ recommends.
 
#27
#27
I agree with the last two posts. Again from my original quote, I said I was looking for a good rewards card now that I have made my way to good credit. I got my first credit card in January, I'm in my early 20's and I think thats pretty good for just starting to get a credit card at this time. It was a first crappy card, no benefits, high interest, and all that other stuff, but its where you have to start out with.

I am also at the same time saving to buy my first house, it won't be this year, I am just tired of paying rent over and over and it not going towards anything that will be mine, which is why I looked into getting a house; that changed into looking into getting credit; I'm slowly making my way to what I want! :dance2:

I thought about it though, buying an old house and fixing it up is not my way to go, but for those of you so against credit, how about I just not save up and just marry myself a suga-daddy! :eek:lol:
 
#28
#28
hohenfelsvol said:
Credit cards are the perfect and fastest way to build credit. When used responsibly. Problem is I think most folks responding on this board got their first cards early and went nuts at the bars and/or shoe store. If this is the case then maybe credit should be earned at a slower pace as JZ recommends.
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Better watch it, you might make another thread have people come out with their feminine side. :post-4-1090547912:
 
#30
#30
volwindy said:
I agree with the last two posts. Again from my original quote, I said I was looking for a good rewards card now that I have made my way to good credit. I got my first credit card in January, I'm in my early 20's and I think thats pretty good for just starting to get a credit card at this time. It was a first crappy card, no benefits, high interest, and all that other stuff, but its where you have to start out with.

I am also at the same time saving to buy my first house, it won't be this year, I am just tired of paying rent over and over and it not going towards anything that will be mine, which is why I looked into getting a house; that changed into looking into getting credit; I'm slowly making my way to what I want! :dance2:

I thought about it though, buying an old house and fixing it up is not my way to go, but for those of you so against credit, how about I just not save up and just marry myself a suga-daddy! :eek:lol:
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:eek:hmy: LOL.
 
#32
#32
hohenfelsvol said:
Credit cards are the perfect and fastest way to build credit. When used responsibly. Problem is I think most folks responding on this board got their first cards early and went nuts at the bars and/or shoe store. If this is the case then maybe credit should be earned at a slower pace as JZ recommends.
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I did the same with all those student CC's on every corner in Presidential. I also used a CC to correct my mistakes and now have a pretty good credit score, house, car, etc. I just think preaching responsibility is better than abstinence (for lack of a better word).
 
#33
#33
utvolpj said:
I did the same with all those student CC's on every corner in Presidential. I also used a CC to correct my mistakes and now have a pretty good credit score, house, car, etc. I just think preaching responsibility is better than abstinence (for lack of a better word).
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Handing credit cards to many college freshman is like handing a bottle of whiskey to Johnny before the Bama game (later years).
 
#34
#34
My ex wife is a credit card connoisseur! I can give you a contact # if you wish.....however the end result may not be what you are looking for credit score wise! But on the positive side someone else will have to pay the bill!
 
#36
#36
crimedawg12 said:
My ex wife is a credit card connoisseur! I can give you a contact # if you wish.....however the end result may not be what you are looking for credit score wise! But on the positive side someone else will have to pay the bill!
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Not bitter...
 
#38
#38
What does your ex think about being your VN Avatar? BTW....I forgot to thank her for the Rolex...
 
#39
#39
Lexvol said:
What does your ex think about being your VN Avatar? BTW....I forgot to thank her for the Rolex...
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She likes it better than her twin does! I don't miss the Rolex but I do miss those family get togethers!
 
#40
#40
Steer well clear of Capital One. They don't report credit limits. This drives their customers' credit scores down by making the cards look like they are maxed out. Maxed out cards can hit your score by well over 40 points. amex is probably the best out there, but requires payment in full - unless you get the blue card. Outside of Amex, Chase is the best - but don't ever be late with a payment with Chase.
 
#41
#41
myrobbins7 said:
It is nice to do that but right now its very hard due to the housing market right now.
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The market isn't as much bad, as the lending standards have increased. Too many people stood in line to get mortgages that they couldn't pay for, or were too short sighted to see the long term implications.

This is why "Predatory Lending" is a myth when it comes to the fixed rate mortgages. The attorney present at closing goes over everything, and asks if you understand, more than once, before one signs. If personal pride or ignorance prevents someone from saying "tell me that again", then they get a hard lesson in reality.

We bought our house, on some acerage, for 199,900 last year, when alot of people who made less and lived higher for 240+ on variable, 4-5 year fixed. I feel for them, but i have my 1501 payment every month, can go up due to taxes, but taxes won't add $+ percent to my principle.

Alot of companies financed people based on their ability to pay the 5 year low rate, or the interest only rates. They were also told, in no uncertain terms, what this meant. If they didn't know the "If it's too good to be true" rule, then unfortunately they learned it too late in life, and the hard way to boot.
 
#42
#42
Existing home sales will probably fall 12 percent this year to a 5.72 million unit pace, and another 10 percent in 2008 the MBA predicted. I was watching the CEO of Fannie Mae today talk about how slow the housing market is and he said it will be 2010 before the market gets back to normal. I do agree with you on folks just going out and getting loans they cant pay back is just crazy. The banks have to know better than to do this. All im saying right now isnt the time to flip a house because its hard to win right now in that game.Thats all
 
#43
#43
myrobbins7 said:
Existing home sales will probably fall 12 percent this year to a 5.72 million unit pace, and another 10 percent in 2008 the MBA predicted. I was watching the CEO of Fannie Mae today talk about how slow the housing market is and he said it will be 2010 before the market gets back to normal. I do agree with you on folks just going out and getting loans they cant pay back is just crazy. The banks have to know better than to do this. All im saying right now isnt the time to flip a house because its hard to win right now in that game.Thats all
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They don't care. The sales guy doesn't care. All they care about is their commission. They sold the house whether you can afford it or not. They are somewhat at fault for that, but the homeowner has to step up and realize if they can't afford a 200,000 house.
 
#44
#44
volwindy said:
They don't care. The sales guy doesn't care. All they care about is their commission. They sold the house whether you can afford it or not. They are somewhat at fault for that, but the homeowner has to step up and realize if they can't afford a 200,000 house.
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I agree 100%.
 
#45
#45
volwindy said:
They don't care. The sales guy doesn't care. All they care about is their commission. They sold the house whether you can afford it or not. They are somewhat at fault for that, but the homeowner has to step up and realize if they can't afford a 200,000 house.
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Agreed. I tend to beat around the bush, but you hit my bottom line. We were pre-approved for up to $380,000, bought for about half that. We could afford more, but not much. $1500 is good, as it's easy to pay, leave money for intangibles, some for fun, some for savings. I can't imagine having to eat mac and cheese every day to pay for $380,000 worth.
 
#46
#46
The housing market is sucking wind right now, but this is a great buyer's market. There are people out there desperate to unload houses right now.
 
#47
#47
GAVol said:
The housing market is sucking wind right now, but this is a great buyer's market. There are people out there desperate to unload houses right now.
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That's what happens when people who shouldn't be buying houses get a loan from some shark to buy one. Some people just get in bad situations, but the majority of the problem right now is the people who bought with zero down and go a 80/20 loan and ARMs.
 
#48
#48
g8terh8ter_eric said:
That's what happens when people who shouldn't be buying houses get a loan from some shark to buy one. Some people just get in bad situations, but the majority of the problem right now is the people who bought with zero down and go a 80/20 loan and ARMs.
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The zero down loans are unbelievable. I remember the last mortgage I did when I said I wanted to put 20% down to avoid PMI and the broker looked at me like I was crazy.
 
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