Financial Help

[Deucetre33]

most people do typicaly ruin themselves by really buying things that they do not need. only reason I use credit is from a business stand point. and leverage my credit with my bank when buying houses(real estate investor) or using it for my corporations financial needs. using credit for leverage and actually turn it yes.... into good debt

 

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Originally posted by stevera004
Gotta agree with the minority here ... the credit obsession that US people have is really an obsession with debt. All this business about building up credit, FICO scores, etc. is the successful outcome of the debt peddlers attempt to get you into more debt! Just say no and get off the treadmill.

BTW, The best credit is money in the bank.

Later,

Fvck that. Money in the bank is losing value due to inflation even while you think it is gaining value from interest. Leave money in the bank only for a few years at the most, it's not practical to save money for retirement anymore.

credit cards have been given a bad rap because a lot of people are total shytheads and don't know how to use them. Credit can be your best friend or your worst nightmare, depending on how smart you are with it.

Also, you are lumping all kinds of debt together. consumer (credit card) debt is bad, but investment debt is good. Debt is not bad in and of itself, it's what you go into debt FOR that makes it good or bad.

 

[spider_007]

like it or not, if you don't have it, it might put you to disadvantage at some point in time. So, get a credit card, use it twice, ESTABLISH A CREDIT REPORT, AND PUT THE CARD AWAY IF YOU DON'T WANT TO USE IT EVER AGAIN.