Black Money Business Jobs : Black Cards

Discussion in 'Black Money Business Jobs' started by Shikamaru, Oct 18, 2011.

  1. Shikamaru

    Shikamaru Well-Known Member MEMBER

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  2. Mikha'el

    Mikha'el Well-Known Member MEMBER

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    should one rly aim for all?

    thoughts?
     
  3. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    I would say you don't really have to aim for it.
    The more you learn about business and accounting as well as mitigation of risk, the better you should manage your credit.
    You can do this by self study.
    Living within or below your means is crucial as well.
    You don't have to live like a miser, but don't be profligate with spending either.

    I have a Visa Signature card. I've been offered the Chase Sapphire as well as the Visa Black Card.

    There are some tricks you can use for one's credit score too.

    If starting out, aim for cards with as low an interest rate you can score.
    Credit is a double edged sword and extremely dangerous. Treat it as such.
     
  4. Mikha'el

    Mikha'el Well-Known Member MEMBER

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    Hmm.
    well for now u know im only working debit. ill return to credit when i can pay monthly
     
  5. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    That's cool.
    If you can get a credit card with a limit of say $500.
    That's a good starter. Stay away from credit cards with interest rates of 20% or higher if you can.
     
  6. Mikha'el

    Mikha'el Well-Known Member MEMBER

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    when i can afford to pay a monthly bill ill cop. time to start building credit. i wanna at least have the opition of a black card even if i never touch it
    Ill come back to you when its time.
     
  7. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Just remember that getting into a credit card is a bad deal.

    From the perspective of compound interest, credit cards are a loss of money from day one.

    The contract between yourself and the credit card company is an ADHESION contract. The absolute worst one out there.

    If you subscribe to the public/private model, you should restrict credit cards and their tenure to your public capacity.

    Protect yourself always.
     
  8. Mikha'el

    Mikha'el Well-Known Member MEMBER

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    you told me before of what credit cards are banking on. that ill act stupid n find myself unable to pay the bill.

    Not happening
     
  9. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    Well.... I wouldn't go that far else they get nothing!
    They would like you to flounder so that you generate extra fees for them and that you continue to pay.
    The sweet spot for them is where you run up a high balance and pay the minimum every month. You'll be paying for years that way. Maybe even decades.
     
  10. Shikamaru

    Shikamaru Well-Known Member MEMBER

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