/biz/ - Business & Finance

Dont use it
Only use for rentals, hotels etc

Don't. Use. It.

It is literally, literally a signing of a deal with the devil.
Unless you know what you're doing then I guess

>>24502349
>>24502334
I mean my plan was to use it for stuff like groceries/oil changes, stuff I could immediately turn around and pay off. Is that inadvisable?

>>24502300
It's only beneficial if you pay it off in full every month, if you leave a balance on it you get cucked

>>24502364
Use it for that stuff, don't listen to those retards. Just don't go out to the bars and get shitfaced and run up a $100 tab or something like that. I use my credit cards everywhere, and I pay them off every month.

>>24502364
The first two anons have good advice if you have no self control. If you can handle yourself, use it and pay it off every month. You dont want to spend more than 30% of your available credit loan.


And for the love of god dont spend it all on crypto currency. I did that, had to settle, and have been unable to get an apartment without a cosigner since

How the fuck have you lasted this long without a credit card?

>>24502400
To be honest I do absolutely nothing with crypto, I don't know enough about it to confidently say I'm not burning my money away.

>>24502349
>>24502334
Terrible advice. Use it, pay it off end of month. Piss easy, you get benefits and improve your score.

>>24502414
Working very hard to keep a lot of cash on-hand, and having an extended family that is prepared to chip in for medical emergencies. I got a lot of scholarships that kept me afloat through my education. Barely.

Dont use it too much though. If its your first card I imagine it has some cuck limit like $1k. You don't want to use too much of your available credit. So don't have a balance of more than say 30% of the limit ever. Try to keep it close to 20% if possible

>>24502400
how much crypto did you get debt nigger?

kek why are people so anti-credit card
you literally use it to buy shit and pay it off with your checking account.
people arent retarded enough to spend money they dont have, are they? oh wait

>>24502400
The latter is also depedent, i took out 2k on a credit card loan 0% interest and it is was worth 18k when i paid it back.

>>24502452
like 2k probably, it was a 2.5 line of credit.

750 of it went into this brain dead MLM scheme coin that has its own exchange and set price on the coin (obviously theres no volume)

The rest probably ended up going into NEO or something. The funny thing is I probably had the money to pay the line off if I had the self discipline, but I was like 21 and was spending my gains on sex cocaine and magic cards

>>24502441
That seems obvious enough, but like how did you buy shit online? Credit cards offer a lot of consumer protections other methods do not.

>>24502462
depends on where you live. here in australia it doesn't matter how much you owe the balance is automatically deducted on any future credit checks. it will hurt you when you need to get a car, house or anything substantial. so for example you might have the deposit necessary but because you own a credit card you still need to have that much in your bank account in addition to the deposit amount.

>>24502500
I use a debit card through my credit union.

>>24502414
Buy things with money? The fuck kind of question is that?

>>24502520
Getting a credit card is kind of like getting a driver's license, its something you just do. I didn't get my first card until I was 22 and I felt like that was old

>>24502494
Ok don't get a credit card.

>>24502520
It's often worth it to buy things with credit cards any immediately pay it off. It offers consumer protections for scams/etc and it builds up your credit score.

>>24502579
You don't have to tell me again. It was fun while it lasted anon

>>24502300
Use it to buy groceries and stuff, pay it off each month.

>>24502398
>Use it for that stuff, don't listen to those retards. Just don't go out to the bars and get shitfaced and run up a $100 tab or something like that. I use my credit cards everywhere, and I pay them off every month.

Everyone says that...

Then they lose their job and find another immediately so have a 10-14day shortfall in pay... and they aren't like other people. They just run a $80 balance for groceries and decide well since they have a job I'll buy a PS4 game to keep me busy until the first shift and my pay rather than going out to bar/music concert etc... So then first day at new job comes around and their new mcjob is postposed without notice or some bullshit...

Then you don't hear back the the next interview for a job that pays more than your first job needs $100 fuel for a round trip to drive to.

3 interviews later and you have rent due or car payment or some other bullshit utility that's not a utility like an iphone or 'minor surgery' you had on a pay plan removing a wart or something or teeth not fake tits or assplants. Before you know it you just shove your months expenses on the card...

Your new job starts 2 months later, your bullshit micky mouse $500-1000 emergency fund went on petrol/food/job hunting/interview clothes and you're carrying 1 months of real expenses on the card. The card company called you and raised your limit from $1500 to $5000.

You only make $2000 a month after tax. Good luck paying off $1500 when you have $1300 of outgoings and only $700 left over. Then you get hit with interest.

Never had a credit card but I did that with a £500 overdraft in UK, with a interest charge of 1% after I couldn't start a job after failing a job probation (there was no real job there anyway) because of a mistake on a criminal record check that took me 2 years to get corrected with no compensation.

Needed a £290 car repair, £90 on fuel for interviews and £110 can disappear quickly in month as I smoked cigarettes at the time.

>>24502300
Unironically, destroy the credit card. Buying anything with credit is for the dumb sheep.

>>24503172
>Needed a £290 car repair, £90 on fuel for interviews and £110 can disappear quickly in month as I smoked cigarettes at the time.

For context I was 22, owned my car outright along with everything else (laptop, stereo, tv all paid for from saving) with maybe a £10 phone contract bill and my 'emergency fund' went on knowing I could pay the next 2 months rent.

You really need 6 months expenses to feel comfortable. Which is 6 months realistic expenses. Not 6 months of bar minimum bills and food.

If you're female and attractive... I think the equivalent is you just need an iphone contract with unlimited data, a duffle bag and an acute sense of awareness.

>>24502400
>Only spend up to 30% if your limit

I don’t think that’s true. You should spend as close to the limit as you can without going over and pay it off. In the short run it’ll decrease your credit score but it’ll allow you to increase your credit limit and help your credit score in the long run. The only reason to not do this I think is if you need a loan in the near future

Must be a lot of non-americans here. Credit cards are too beneficial not to used in the U.S. 2% cash back on all purchases is pretty standard for a lot of cards. Spend $10k a year and you get $200 back for doing your usual spending. Of course this is assuming you aren't ass at managing your money

>>24502494
you retarded nigger.

>>24502300
>my financial situation has been so shit up to this point
>first credit card
oh nonononono lmao

build an emergency fund of 3/6/12 months of bills then go from there

stop relying on credit and repayments

>>24502462
the jew fears the responsible credit card user making timely payments

>>24503172
why would you take a job that requires $100 fuel to get to

>>24502300
>Absa
Enjoy your data leak saffanon

>>24502494
>sex cocaine and magic cards
props

>>24502300
keep your credit utilization under 30% and you're fine. get free experian 30 day trials back to back to check your credit score.
>>24502364
Use it or stuff like
use it for literally anything you want, but don't use over 1/3 of your credit limit

>>24503172
>the the next interview for a job that pays more than your first job