Discussion in 'Black Money Business Jobs' started by Shikamaru, Oct 18, 2011.
should one rly aim for all?
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.
well for now u know im only working debit. ill return to credit when i can pay monthly
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.
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.
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.
you told me before of what credit cards are banking on. that ill act stupid n find myself unable to pay the bill.
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.
Avoid credit cards offered by department stores. Then tend to charge higher interest rates.
Avoid charge cards offered by department stores for the same reason listed above.
Not a fan of Discover. MasterCard and Visa are okay.
You can get your free annual credit report here:
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