Tilted Forum Project Discussion Community - View Single Post - When purchasing something, do you save up or put it on credit?

Lebell · 04-22-2003, 08:07 AM

I think everyone should note one important thing:

If you never use credit, you will never build it up, and you won't have it if you really NEED it.

My suggestion (which I follow better than I used to), is to have one or two cards and occasionally use them for small and big purchases (key word, occassionally) and then PAY THEM OFF IMMEDIATELY.

This way you will begin building a credit history of being a reliable person and when you WANT that CAR or HOUSE, you will be able to get a loan, and at the lowest interest rate available. (Higher risk individuals pay higher interest rates on loans.)

04-22-2003, 08:07 AM	#6 (permalink)
Lebell Cracking the Whip Location: Sexymama's arms...	I think everyone should note one important thing: If you never use credit, you will never build it up, and you won't have it if you really NEED it. My suggestion (which I follow better than I used to), is to have one or two cards and occasionally use them for small and big purchases (key word, occassionally) and then PAY THEM OFF IMMEDIATELY. This way you will begin building a credit history of being a reliable person and when you WANT that CAR or HOUSE, you will be able to get a loan, and at the lowest interest rate available. (Higher risk individuals pay higher interest rates on loans.) __________________ "Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." – C. S. Lewis The ONLY sponsors we have are YOU! Please Donate!