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Originally Posted by Baraka_Guru
I'm going to have to disagree. Not caring for 10 years until you settle down to buy a house might mean it's going to be too late to avoid or fix a bad or mediocre credit record. If you have 10 years, get started now; you'll be much better off.
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Key Point:
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Originally Posted by Stare At The Sun
Don't live beyond your means.
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I have stopped using credit. I'm riding out my 7 years of shitty credit, which is situational and immaturity based. I'm not proud of it, but I've learned from it.
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Originally Posted by Barkak_Guru
Oh, that and credit companies don't operate rackets, because what they do is legal.
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I say credit card companies are a racket. Anyone who has done some research on them knows that. The only reason it is legal is because the companies lobbied congress in order to screw people who use them. They prey on people at age 18, entering college, when they are unaware of the entire process. Having a ceiling of 30%+ APR on a credit card is a racket, legal or not.
Watch Maxed Out! if you want to see some of the effects credit is having on people.