I know it’s more challenging but no loans on cars or schooling is just as

Dec 17, 2024
11:49:26am

brazilcoug All-American

Freeing as no credit card debt.

I have a Master's degree without a single penny of debt.

I’ve also saved up and paid cash for moderately used cars and have yet to take a loan out on a car, barring my first car I had when I was 21.

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brazilcoug

Previous username: brascoug
Bio page: brazilcoug
Joined: Jul 27, 2004
Last login: Dec 18, 2024
Total posts: 21,534 (222 FO)

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Messages

Author

Time

Pro tip that's obvious but not always lived: Pay off your credit cards every

gwalker

Dec 17, 11:19am

Well TNT's philosophy is "Buy now, pay never"

TNT

Dec 17, 11:20am

Die owing the banks millions while you have nothing.

Archaea

Dec 17, 11:21am

That sounds like a problem for future TNT anyway.

gwalker

Dec 17, 11:22am

Exactly. Like Jerry says staying up late is "morning guy's problem"

TNT

Dec 17, 11:22am

It's surprising that lenders actually want to be repaid. The nerve

Archaea

Dec 17, 11:24am

Been doing this for 20+ years. I use card for everything to get points and pay

TheSpiker

Dec 17, 11:21am

Two lives:

Archaea

Dec 17, 11:23am

This is why I don't understand why more people aren't for restructuring student

Sparkling Delirium

Dec 17, 1:02pm

RE: This is why I don't understand why more people aren't for restructuring

Powerbait DPM

Dec 17, 1:45pm

I'm not aware of any cards these days where interest doesn't begin to accrue from the date of purchase,

ChinaFan

Dec 17, 11:28am

Huh? I don't know of any credit cards that will still charge you interest even if you

Skeptical Optimist

Dec 17, 11:32am

I don't accrue any interest

Himni

Dec 17, 11:32am

None of my cards charge interest unless I carry over a balance

gilbertatty

Dec 17, 11:33am

I have never heard of this. If you have a card doing that, get a different card.

TheSpiker

Dec 17, 11:34am

I'm not aware of any credit cards that accrue interest from the date of purchase

Manti

Dec 17, 11:35am

Maybe it's from experience with an old card. I have mine on autopay so there is never any carry over, but I haven't

ChinaFan

Dec 17, 11:37am

just checked, no interest or fees all year, and I earned 100,000 miles

ChinaFan

Dec 17, 11:39am

My problem with multiple payments per month is

Archaea

Dec 17, 11:40am

A line of credit from your bank might, but not a standard VISA, AMEX, etc.

NumbersGuy

Dec 17, 12:09pm

Interest running, are you sure?

Archaea

Dec 17, 11:36am

Not sure and not true

citron

Dec 17, 11:46am

Time to get a real credit card...

my4boys

Dec 17, 11:40am

Are you outside the US? Super curious about this. Like the others, I have never

RoboKayne

Dec 17, 12:18pm

Update: I did some sleuthing. I think OP may be based in China. It does not

RoboKayne

Dec 17, 12:20pm

The other thing that would not surprise me is if CC agreements are shifting

RoboKayne

Dec 17, 12:25pm

Depends on your credit score. Credit One will charge you interest immediately

Princepete

Dec 17, 12:22pm

That's not how cards work in the US

justAnotherCoug

Dec 17, 12:53pm

Some pay interest and some earn it. These groups live completely different lives

dYrtbYkerYder

Dec 17, 11:29am

What necessities do you think are fine to go into debt for?

brazilcoug

Dec 17, 11:33am

A place to live is one. Modest means of transportation. Education with a

gwalker

Dec 17, 11:39am

Few things annoy me more than people without money saying they "need" a new car.

dYrtbYkerYder

Dec 17, 11:43am

A large car payment on an expensive car to impress your 3 neighbors is

brazilcoug

Dec 17, 11:51am

What you live is also what your children learn, sadly and gladly.

Archaea

Dec 17, 11:46am

I know it’s more challenging but no loans on cars or schooling is just as

brazilcoug

Dec 17, 11:49am

Well done.

Archaea

Dec 17, 11:50am

Eh, I think you’d be surprised at how many people have car payments and/or

brazilcoug

Dec 17, 11:53am

If we had a guessing game, I'd wager it would be a much smaller percentage than

Archaea

Dec 17, 11:55am

I'm sure it's less than 1% if not much less than 1%.

Powerbait DPM

Dec 17, 12:04pm

Buying a good, used vehicle has benefitted many people.

Archaea

Dec 17, 12:08pm

House, car(s), education and CFB season tickets.

neboutefan

Dec 17, 11:48am

We are dealing with what you did in the past. Mostly my fault 🤦

BulldogCoug79

Dec 17, 11:35am

You're exactly right. And there's a lot of peace on the other side.

gwalker

Dec 17, 11:37am

I paid off my house this fall, decided I didn't want a loan out there for another 5 years as we retired 18

ChinaFan

Dec 17, 11:43am

The CC charge for taxes is not worth in my opinion. I pay taxes from

Archaea

Dec 17, 11:49am

Get free of the interest trap and never go back.

Archaea

Dec 17, 11:38am

This is a very powerful quote that I share with my children on a regular

GideonsTrumpet

Dec 17, 11:46am

A powerful quote.

Archaea

Dec 17, 11:48am

RE: Pro tip that's obvious but not always lived: Pay off your credit cards every

Powerbait DPM

Dec 17, 11:52am

Super silly SNL skit but it is true to the bone. Share with your children to

GideonsTrumpet

Dec 17, 11:59am

Credit cards are great for record keeping and travel points - never carry a

Jersey hunter

Dec 17, 2:13pm

They are lines of credit if paid off monthly.

Archaea

Dec 17, 5:12pm

Also, security. They are great at identifying and paying for fraud.

RoboKayne

Dec 17, 7:34pm

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