Tilted Forum Project Discussion Community - View Single Post

Jimellow · 11-29-2004, 07:57 PM

I just started using a credit card, but solely to boost my credit rating.

I only use it for gas, and pay it down $20 every month..

So for instance, I started at $100 debt, then if I charge $20 in a month, it will be $120, and I pay down to $80.

Next month, I'll pay down to $60 (regardless of how much I owe, always $20 less each month), and the next down to $40.. When I get to $0, I intend to start at $100 again and start over.

I use my debit card for all purchases, and my parent's reluctance to buy on credit has rubbed off on me, and I'm grateful. If I can't afford something I don't buy it, period.

When I do buy gas or groceries on the card, the money get puts aside right away so that I just send them the money when the invoice arrives.

I want to develop a credit rating "just in case," and I think my method will allow me to do that without getting in over my head. I just recently opened up a checking/debit account and really enjoy keeping track of everything in my balance book, because it's a learning experience for me.. And a worthwhile one.

11-29-2004, 07:57 PM	#49 (permalink)
Jimellow Junkie	I just started using a credit card, but solely to boost my credit rating. I only use it for gas, and pay it down $20 every month.. So for instance, I started at $100 debt, then if I charge $20 in a month, it will be $120, and I pay down to $80. Next month, I'll pay down to $60 (regardless of how much I owe, always $20 less each month), and the next down to $40.. When I get to $0, I intend to start at $100 again and start over. I use my debit card for all purchases, and my parent's reluctance to buy on credit has rubbed off on me, and I'm grateful. If I can't afford something I don't buy it, period. When I do buy gas or groceries on the card, the money get puts aside right away so that I just send them the money when the invoice arrives. I want to develop a credit rating "just in case," and I think my method will allow me to do that without getting in over my head. I just recently opened up a checking/debit account and really enjoy keeping track of everything in my balance book, because it's a learning experience for me.. And a worthwhile one. __________________ Desperation is no excuse for lowering one's standards.