How do you have any type of card when you make no money?

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Originally posted by Lews No it won't. The way to build your credit score is to make sure your balance is always below 50% of the maximum limit and, if what you owe is below 50%, to always pay double the minimum payment. Being afraid of credit cards is stupid. Just be responsible with it and you won't have any problems at all.

Over here it does, they see your ability to pay it off in full each month as proof that you're somebody who is responsible with the credit afforded to you. I'm surprised you guys don't also have sub-prime credit cards

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Originally posted by Ian Over here it does, they see your ability to pay it off in full each month as proof that you're somebody who is responsible with the credit afforded to you. I'm surprised you guys don't also have sub-prime credit cards

I should have specified more clearly. It will build your credit, but not to the same extent as the way I described will (in both America and over there).

Credit Cards exist for financial companies to make money. To do this, you must be paying interest and other fees. To them, it is not ideal for you to be paying it off in full every month. Thus this won't raise your credit to the same degree.

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Originally posted by Arbiter If you're responsible enough to handle it, go for it. I've been using my credit card for about seven years now, and in that time I've paid $0 in interest and $0 in fees while receiving roughly $4,000 cash back. Not much downside to that.

Bingo.

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Originally posted by Ygrene Bingo.

Dingo.

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There are more things in heaven and earth, Horatio,
Than are dreamt of in your philosophy.

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Originally posted by Halcyon+On+On Dingo.

My Baby!

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Originally posted by r5a 2. go visa, amex is shit - i have both cards

Please explain how AMEX is shit.

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Originally posted by srussell0018 How do you have any type of card when you make no money?

lulz

I just upgraded my Visa last year to one with a lower interest rate based on my credit. I had the same noob card for years that had a 19 something percent interest rate. Now it's only 6.

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Originally posted by Lews I should have specified more clearly. It will build your credit, but not to the same extent as the way I described will (in both America and over there). Credit Cards exist for financial companies to make money. To do this, you must be paying interest and other fees. To them, it is not ideal for you to be paying it off in full every month. Thus this won't raise your credit to the same degree.

False. MERCHANTS are paying most of the fees. Merchants give 3-4% or so on every purchase, depending on the card and other factors. This, as well as the interest people pay, are how the financial institutions make money.

Since 99% of places don't give "cash discounts", you're paying the same amount as people who use credit cards. The financial institutions can give a portion of their profit to purchasers as rewards (1-2% typically). People who pay with cash basically subsidize rewards that people get with credit cards.

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Originally posted by UWM Please explain how AMEX is shit.

their rates to the merchants are ridiculous - hence why not a lot of people carry AMEX and prefer visa. it doesn't cost them an arm-leg to support it. id rather have one card then two, and everybody takes visa/mc. amx is like discover, nobody uses it. (k thats a bit extreme but i dislike amx)

their customer service is non-existent/terrible anything to do with claims & help.

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Originally posted by UWM Please explain how AMEX is shit.

Tons of places over here have stopped accepting Amex altogether. Either that, or they charge like 5% on top of your purchase.

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