Credit card debt

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MizeryU

MizeryU

Sicc OG
#21
Dec 2, 2002
3,400
11
0
42
therealtechn9ne.com
#21
I started building my credit when I was about 18 and got my first car loan. My Uncle co-signed for me with no questions asked. All he ever did was sign a paper and if he wouldn't have I know about 10 other people who would have because by then I had more than enough 'personal credit'. By that i mean, people know i do what i said i would do.

A credit card is a bad way to build credit, no a credit card is a bad thing period.

I was approved for $80k home loan in Jan. I haven't bought a home, but I will pay off my 2nd auto loan in about 2 years. So, like i said, i doubt i will ever get a stupid ass credit card. In fact, i really only put doubt because i plan to live for 80 more years so you never know what'll happen
 
coondogg26

coondogg26

Sicc OG
#23
Nov 27, 2006
5,648
21
0
36
#23
2-0-Sixx said:
5k. I've been forced to hustle to pay this shit off and I'm almost there fuck hospital bills
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You paid your hospital bill with a credit card?? You know u can just get a loan for that right? They got loans just for medical bills. Your rates would prolly still be high but lower then a credit card
 
GHP

GHP

Sicc OG
#25
Jul 21, 2002
16,280
852
113
45
#25
credit makes the world go round. I have a couple cards and a loc that i keep steady balances on keeps my rating solid. As much as debt sucks its good to have so banks will trust you. I'm not trippin on the 6500-7 grand I have balances on i owed alot more at one point and brought it down some. As long as i stay paying my bills one day if i see fit i could walk into a bank and ask for a 100k business loan or to get another house or something. Like I said before it takes some form of credit to get anything worth having in life. Not too many people have 150-200k plus in cash to buy a house or 25-30 grand for a decent car if they did most of them would use it as a down to finance a million dollar crib and a 75k car, not that that way of thinking is always right but thats usually how it goes. Unless you were born with money credit is what can take you to the next level of wealth if you are smart with it.

My credit cards ain't shit really, I have a mortgage and over 10 grand left in student loans and am still going to school. When its time to go after a masters degree I'm going to need more credit since that piece of paper would ultimately put me into a place where I'm making alot more money
 
Meta4iCAL

Meta4iCAL

Raider Nation
#28
Feb 21, 2005
19,635
4,278
113
38
#28
it was over 2 g's at one point

got it down to zero... right now it's around $400 I think

edit: damn I just checked and it's like $700... fuck...
 
jake921660

jake921660

Sicc OG
#32
Jun 23, 2008
5,090
14,497
113
33
Gold Coast, Australia
#32
Meta4iCAL said:
it was over 2 g's at one point

got it down to zero... right now it's around $400 I think

edit: damn I just checked and it's like $700... fuck...
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Im not 18 for another week but I know that as soon as I turn 18 imma get a whole lot of credit cards trying to sign me up, but this is the reason I dont want to get one. The shit builds up quickly.
 
GHP

GHP

Sicc OG
#34
Jul 21, 2002
16,280
852
113
45
#34
if your too reliant on credit that shit can get you in alot of trouble though. I've been in collections for a couple years and seen people rich and poor get their shit all fucked up. Alot of the people I deal with now are business owners who are for most part educated and alot of them have money.
 
CyrusTheVirus

CyrusTheVirus

thats just my ghost
#36
Oct 31, 2002
4,083
2,551
113
legendary
#36
I open credit lines all over the place to finance purchases. Alot of places will have like 0 % interest for 12 months. Then I make the payments until the statement shows 0 balance and it turns out to be the same cost as paying cash. I got a credit card with a couple grand on it and a few other revolving debt accounts with a few hundred.

I used to have a chase credit card and when I almost hit the 1200 limit they would automatically extend my limit. It ran up to about 3000 and I couldn't make the payments. They called 10 times a day huntin me until I got a lady who told me they would be willing to knock off all the interest if I would agree to pay the principle. It dropped down to like 1800 or some shit over 4 payments within the next 120 days or someshit. Payed that off and closed the account.

As stated earlier..... credit does make the world go round.
 
HIM

HIM

Sicc OG
#38
Sep 27, 2002
4,648
1,156
113
41
#38
$0.00..

Credit score last Feb was higher than 730 and my girl's score was over 800...I'd say we are doing alright for ourselves...We both have a credit card(she uses hers more than I use mine), but we both pay it off as soon as we get paid.. I just hate owing or having credit debt...

We both have school loans though..I have about 7,000 that I'm gonna start paying on this month actually...
 
5

510PLAYA

Sicc OG
#40
Apr 25, 2002
1,305
86
0
48
#40
Mari go DumB said:
Damn, am I the one with the highest debt? My debt's at $16K. :ermm:
Been wanting to file for bankruptcy, though; is that a good idea?
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NOPE Im at a about 45k. 2 credit cards 25k and 20K limits I had been paying on it for excellent credit ,720 credit score etc etc. I needed a loan to get my car fix and they told me no so i said fuck and stop paying my bills so i can use that money to fix my car. i will be filling bankrupcy very soon, so in 7-10 ten years it will be gone and fixed hopefully wit the rest of the economy. i bought me a house and under Cali exempt laws they cant touch that because i dont have more than 50k in equity. Where that 45k went? i was off work for like 2 years, did a shit load off traveling, super bowls, NBA all star weekends, pro Bowls, Miami , bahamas etc, Hotels , Bills using 1 card to pay the other bill off etc. i didnt wanna file but times is finna be a lil tite
 
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