2011 Off topic thread(basketball,movies,etc whatever)

[Ludo]

I might get a credit card...I applied for one today when depositing money into my savings account. If I get it, it's going to be very low limit since I have no verifiable source of income. Working under the table has it's flaws, but I like the cash/no tax thing better.

Like working is the only thing you do under the table.

[poopoo333]

Well that's always what I hear...people say shit like "to buy a new car you need credit established"...same goes for renting an apartment, buying a house, etc.

Since we are on the subject of money and stuff...I am going to start setting goals for saving money. I have close to $22k in my savings right now (I had $22k already but I withdrew some money earlier this year) and I want to get up to $25k by 2012. Then get to $30k by the end of 2012 summer. I would be happy if I can get up to $50k by the time I graduate college. Then I will put that on a wiseman special

[MMA_scientist]

You don't need credit if you have cash. If you have cash, you can "borrow" it from yourself interest free.

You only need credit to buy a house, since most of us will never have cash to do that. But still, FICO is a scam man. There are banks that will lend you money.

[Luke]

You don't need credit if you have cash. If you have cash, you can "borrow" it from yourself interest free.

You only need credit to buy a house, since most of us will never have cash to do that. But still, FICO is a scam man. There are banks that will lend you money.

+1

The bank gave me a $146,000 loan when I was 19 and I had never had a credit card in my life ........but I had 20% to put down on it.

[Luke]

It really is.

http://mycourts.in.gov/arguments/

Very cool man, let us know when it will be on. I would like to hear you say "I pulled an edmann" when you mess something up in your speech.

[MMA_scientist]

+1

The bank gave me a $146,000 loan when I was 19 and I had never had a credit card in my life ........but I had 20% to put down on it.

If you can actually afford the house, someone will give you the loan. If you don't have 20% to put down, you are going to get mildly hosed anyway. Just save your cash. Don't listen to that shit about building your credit, it is bullshit. It is for people that want to be debt slaves for the rest of their lives. The only way to get a giid FICO score is to get in debt and stay in debt.

[Luke]

If you can actually afford the house, someone will give you the loan. If you don't have 20% to put down, you are going to get mildly hosed anyway. Just save your cash. Don't listen to that shit about building your credit, it is bullshit. It is for people that want to be debt slaves for the rest of their lives. The only way to get a giid FICO score is to get in debt and stay in debt.

Funny story, my grandparents finally decided to get directv after having an antenna their whole lives and got denied by directv because they had no credit. They own 2 houses,with no mortgages,that are worth 250k a piece ,2 cars ,a boat and have 300k+ in the bank but couldn't get directv because everything they've bought in the last 25 years was with cash.
They were so pissed they wanted to sue.......BOLZ

[Vandelay]

ur crazy scientist. if you have the money to pay the credit card off every month, its a great thing to get.

[SPX]

BTW, I will have to check out your stream Scientist. Sounds like some bomb shit. I will pop some popcorn. Remember to remind us when the shit's about to go down.

[Svino]

Plus, you really don't need credit. Break out of the box brother. Don't buy in to that crap.

For me, it's not the credit, it's the convenience, especially with paying for things online.

I always try to pay the balance up front, but I had one card I had to get rid of because I was late by one day with payment a couple times (I get lazy and try to pay all my monthly bills at once). Apparently, this gave them the right to hike my interest rates up to 28% and start charging interest from moment of purchase. Also, doing the math on the interest they charged it was clearly a 28% monthly rate, not annual. I have no idea how that was legal, even after reading through the credit agreement, but I didn't care enough to dig deeper. Fucking banks -- we never should have bailed their sorry asses out.

I don't even know what that means. I live in a fairly modest dwelling and I would sell my kidney for $338k (I really would. If you know anyone that needs a kidney, I will sell it for $200k).

I don't know, but I bet the going rate for a kidney is a lot less. There's got to be a lot of people poorer than you willing to sell their kidneys.

[SPX]

For me, it's not the credit, it's the convenience, especially with paying for things online.

Wouldn't a debit card work just as well in that case?

[MMA_scientist]

Yeah, I can understand the convenience thing. I use a debit card for everything. The only time I have ever run into trouble was trying to rent a car in like 2001. Back then, debit card were not accepted by car rental places. It was a pain in the ass, but I eventually got it worked out.

Like I said, it makes sense for some people, for convenience and for the cash back or rewards. But generally the type of people who use credit cards responsibly are the people that have no need for them at all.

[MMA_scientist]

ur crazy scientist. if you have the money to pay the credit card off every month, its a great thing to get.

Why?

[Svino]

Wouldn't a debit card work just as well in that case?

It probably would, but I've never tried. I actually don't like having debit cards. It seems like more of a security risk to me because it's a direct line to all the money in the account, unlike a credit card, where I have an easier opportunity to contest fraudulent charges (which I have had to do twice).

[Vandelay]

Credit Cards generally have better security measures. If you get ur debit card stolen or lost then ur fucked. Also, u cant build a credit history with a debit card.