Who else is going to get the Gamestop credit card so they can buy a PS4?
>GameStop is set to offer its own credit card to customers that ties directly into the company's PowerUp Rewards program, according to anonymous sources. We obtained photographs that outline the details of the card showing that the primary incentive for signing up is 5,000 bonus points for PowerUp Basic members and 15,000 bonus points for PowerUp Pro members. Also noted are exclusive offers to cardholders.
Building credit is a good thing, as long as you pay the bill in full each month to avoid interest payment charges.
You expect modern teens to be responsible with a credit card?
>15,000 power up points
Thats like not even a keychain
People will get it just to look like a gamer and gamestop knows people are stupid enough to for that reason alone
Isnt 27% pretty normal for a starter credit card?
Thats what like, 3% a a month? 3$ on every hundred you borrow doesnt seem like that much unless you are some sort of retard, or i have no idea what im talking about.
Thats still like 10x cheaper than a rent to own place.
How do credit cards even work? I'm 20 and have no credit. Does it immediately garner interest for each purchase or does the interest rate only go into affect if you don't pay the bill on time.
Basically its a loan shark inside of a plastic card.
>Want to buy 4000 dollar couch
>Use credit card
>Pay off increments of the couch each months
>Miss a payment and they take your house
12 months in a year
Divide the APR by 12 and add that percentage to your bill at the end of the month. You only have to pay off whatever the recurring debt is, the problem is when you have like 3k on your card and every month you are paying hundreds on just interest because you are stupid.
>How do credit cards even work? I'm 20 and have no credit. Does it immediately garner interest for each purchase or does the interest rate only go into affect if you don't pay the bill on time.
If you pay the bill in full each month: No interest
If you don't pay the entire bill and only pay the minimum, or more than the minimum but less than the full amount: As long as you're carrying some balance, purchases will start to accrue interest charges on a daily basis.
Nigga that sounds awful
You use it to buy stuff and at the end of the month you'll get a bill. You can choose if you pay the bill or not, but the more you delay the payment the more intrest your dept will gather.
it's more like miss a payment and you owe them another thousand dollars. the only people i know who don't regularly pay at least some of their owing debt are ones who just juggle cards.
Gamestop's card is shit, but most credit cards give decent rewards, good benefits (e.g. free extended warranty), and build your credit rating (has credit/non-credit implications) while strengthening consumer protections.
And you'll pay no interest if you pay the bill in full each month - meaning the price is the same as debit or cash for you.
this is dumb because it's 2014 and no one shops at game jew
what if steam had one? I'd use a steam credit card.
when my first card expired i didn't realize i'd signed up for the increase, turns out they'd set me to $12k instead of the $3k i started with.
they wouldn't change it back either, so i just cancelled the card and went with another provider.
As long as you tie it to a bank account and enroll in auto pay the card is totally worth it. You'd use it just like a debit card and get vidya discounts.
However they are banking on the retards (some of whom are in this thread) that can't keep a checking account in the black to make their money on that interest rate.
I buy everything with my credit card and just pay it off before my bill posts. Simply a matter of convenience. If you're not a retard and you're capable of keeping track of how much you spend it's not a problem. The problem is when idiots treat credit cards like free money.
>Got a card when I hit 18
>Set a few recurring things on it, my phone bill, my tax, some food things I have shipped each month
>Have it so it pays off everything from my debit account
>"Congratulations, your new credit limit is £30,000"
>will never ever need that much ever short of buying a house since I just rent, even my car is rented and everything is a 30 day rolling contract so I can quit whenever
>have £20k in my bank to back up any purchase
>still scared insane of debt, like, the debt monster keeps me up at night with it's giant dick in me
American Express gave me 90 days accidental damage coverage and a year extra warranty on my Wii U, a little cashback, all at no extra cost (no interest charged since I paid it in full).
my brother in law does that too, he says it works out really well. he gets a much better return policy at bestbuy too, so everyone has him make their big purchases there and then they pay him for them.
27% is subprime. To be expected when they're preapproving any powerup rewards member though.
Who knows, it might have decent in store promotions. Macys store card has a similar APR but great fucking discounts if you like shopping there.
It's so high because:
1) the target demographic is 17 year old mountain dew kids and they are very volatile
2) it's will primarily be used for <$100 purchases.
I have a credit and a debit but because I'm 20 my credit card doesn't give me any advantages really and since I've got a lot of money in the bank I just pay with my debit. Mainly because I can never remember my credit cards PIN
Ok, there are a ton of idiots, even though the picture clearly states what I'm about to say but I'll say it anyway.
That 26.99% is nothing special about a gamestop card, most cards are that high. However, YOU ONLY GET CHARGED THAT ON YOUR CARD IF YOU DON'T PAY YOUR BILL FOR THAT MONTH. It doesn't actually cost you 26.99% interest just to use your credit card for everyday shit that you pay off.
you have to report all income and pay taxes on it depending on how much you get.
as for illegal money, just don't be giving your banker reason to suspect lots of under the table money, ie loads of cash on a regular basis
Credit cards have 0 risk if you have the money to pay it off in its entirety at the end of the month.
The only risks involved in credit cards are it being stolen or you spending more than you have. If you treat it like a debit card and only spend what you have then you might as well get one that gets you benefits.
IF YOU HAVE A PREDISPOSITION TO ADDICTION OR THINK "I'LL PAY IT OFF LATER" OR "I TOTALLY NEED THESE SHOES" THEN DON'T GET ONE
Uhh, you should file income tax as self employed. But since you are a drug dealer you are probably better off staying off the grid because you probably dont know shit about money laundering.
God I hate store credit cards. They make me feel even worse about my job whenever someone uses a Home Depot card because the interest is so goddamn high and it just takes advantage of immigrants and the elderly who don't know any better.
>I get paid in cash (i sell drugs)
i want to TRASH your post but i'll respond
you're legally obligated to declare your income and pay taxes even if you deal in cash and it's illegal.
wanna know how they got al capone? tax evasion. he was doing what your scummy as is doing (although on a huge scale) but wasn't paying taxes on any of it.
No. Raping and pillaging small villages is also tax-free income so you can try that
Depends if you're self employed or employed, at least in England. If you're full time employed a bit comes of your paycheck each time you get one, if you're self employed you have to tell the goverment twice a year how much you earned and then they send you a tax bill. If you earned it in cash you can keep it quiet and if you don't earn enough to warrent investigating they wont, but shit that's gone through the bank if you don't send that in the tax man will fuck your ass so hard you wish you where gay
>friend is earning 50k a year self employed
>only claims he is earning 30k a year self employed
>does this for 4 years
>gets a 100k tax bill
>has to go bankrupt
Seriously, unless it's cash in hand and small amounts its easier just to declare what you earn. Remember if you're self employed purchases like computers and fuel can be taken directly off your tax bill
As long as it isn't obvious that you've got lods of emone you'll probably be fine.
But I don't really know since I mean fuck, it's not like I deal drugs or make a living off that kinda thing.
Credit cards are basically you want to make a purchase but you don't have the money to do so at this particular time. So you pay in credit from the company that holds your card.
In exchange, you can then pay off the total at a later date. If you pay the total off in full, the APR will mean nothing. If it's a larger purchase, then you'll be charged interest equivalent to your APR divided by 12. That's the monthly charge. You have to pay off the principle balance plus any interest to satisfy payment.
Generally, if you want to build credit, make small purchases you can easily pay off at the end of the month related to your income. Only use a credit card for big purchases if it's absolutely necessary, like paying for a car repair, but you don't have the $700 to do so.
Blown timing belts and motor mounts suck.
>/v/ - Finance 101
>Hello mr Tax man, last month I earned 50k selling meth, but I bought a new meth factory for 40k, so can you only charge me on the base rate for the 10k above the personal allowance I earned, cheers.
Get one credit card from your bank with no annual fee, make one small purchase a month with it, and pay it off in full (if you have self control and your bank account balance isn't regularly negative, put it on autopay each month).
Buy shit as you normally would but use a credit card instead of cash. Credit cards are fine so long as you can pay the money back; don't ever spend more than you have available to you in a month.
He means that everyone should use credit cards instead. Because most credit cards offer better rewards than a debt card does. Stuff like cash back is higher for credit cards because they can fuck you harder if you fuck it.
If you ahve a really shitty bank who has lax security procedures then sure it's lost forever. Better banks will straight up ring you and inquire about any recent purchases for xx amount and ask if you bought X item at Y location. If you haven't and they notice indiscrepancies they'll cancel and immediately issue you a new card and refund the money lost and file a police report.
ok so since we have a bunch of money experts here
i want to start playing the stock market, where do i start?
Store cards DO build credit. The same companies that issue credit for major network (Visa/Amex/Mastercard/Discover/Diners Club/JCB) issue store cards.
For instance, GE Money Bank issues the Walmart store card and Home Depot store card.
These issuers report positive history all the same as a visa card.
However, it is considered inferior credit to a major network, and thus you should use it as a starting point and have few/not all store cards.
If your debit card details get stolen and your account gets drained you're completely fucked until you get the money back (which can take months).
If your credit card details get stolen they'll be stealing the issuers money, not yours, so it won't affect you at all.
you're already doing it
after 48 hours your loss is capped at $500 on debit cards, after 60 days your losses are unlimited if you don't notice fraud.
source: US Electronic Funds Transfer Act
because people are retarded.
Same with Rent-a-center.
like a 500 dollar television that you're renting to own for 17.99 a week with their stupidly high 169% interest rate, you'd be paying like 2000 dollars for a 500 dollar TV
I was in London before getting a train to leeds. I took some money out an ATM and it was declined. Bank immeditely phoned me asking if it was me doing the purchase, I told the lady yes and she said ah ok, try again and it worked
Minorly annoying but useful I guess
>tfw parents are really good with their money and have good credit but have never taught me their ways
Hopefully they're just waiting till I graduate college cause as of now I really don't have a need for a credit card.
Why wouldn't I just use my actual credit card and then immediately pay it off with the money saved in my bank account? Actually, why would I buy a PS4?
Insurance is pretty bad too, where I live. Male? Costs more. Under 25? Costs more. Haven't been driving long? Costs more. I'm a 23-year old guy and I pay out the asshole despite never having an accident, simply because I am a 23-year old guy.
Just used my rewards points for $25 cash back. Paid in full every money for shit i need. (gas, food) But yeah guys credit cards are terrible. I now i have $25 for doing nothing. omg this sucks.
You gotta have at least $5,000+ to invest in the stock market to actually make money.
But that's stupid as well, you don't gain anything from using credit cards when you have the money to buy it at the time of purchase. Your just waiting to pay off credit card bills at that point and anything can happen to fuck you over while you wait.
>I mean seriously even if you're the smartest, safest fucker ever SOMETHING is gonna go wrong and you'll be in debt for fucking life.
>I mean seriously even if you're the smartest, safest fucker ever SOMETHING is gonna go wrong and you'll be in debt for fucking life.
Yeah, I'm gonna put pile on life long debt with a single credit card.
jesus fucking christ
The Walmart credit card is like 22%, I thought THEY were jews
If you don't pay something off within a year, you pay that much interest on it. If you pay the bill in full each month, you pay no interest. If you pay the bill after
1 month: ~1/12 of APR
2 months: ~2/12 of APR
3 months: ~3/12 of APR
(interest is compounded daily so it's slightly more than those fractions).
>have credit card that lets you go to the movies for free when you get enough points
>use it for almost everything, but always things I can afford and pay off instantly
>Never have to pay interest since I always pay it off on time and get go to the movies at least once a month for free including snacks
>Building credit to someday have a nice mortgage while never having to pay to go to the movies again while having literally no downside as long as I keep paying it off on time
Credit companies make their money off of degenerates who buy what they can't afford with them. It's only a jewish scheme to get a hold of all of your wealth if you let it be. I literally have more money in my bank account due to my credit card because I would be spending money at the movies anyway and even if I wasn't, the monthly fee for having a credit card is basically the same as having a debit card. Life is good
>I'm 20, English and my card is 18% with a limit of £8000
You're 20 and you have an £8000 limit on your card? Dude that's way too much of a limit for you at that age unless you're in some super high paying full-time executive job. Then again I don't live in Britain but in Aus you can get decent rates on cards with smaller limits if you're even around 20 years of age.
8000 GBP is like $15k AUD, fuck man I don't even have a high limit of that much on my card and i'm almost ten years older than you.
Most of these people are here are the same ones who shitpost uncontrollably in threads they dislike instead of hiding them and are NEET faggots who haven't had a job before in their 19 years of living.
Don't go here for advice, and WHATEVER you do don't go to /biz/
People with no credit pay 40% more than people with great credit, and having no credit is actually worse than bad credit for auto insurance pricing.
>The analysis found that young adults ages 25 to 34 with clean driving records, for instance, pay an average of $1,938 a year for full auto coverage. But those same drivers with a credit score over 750 pay an average of $1,155 — a 40 percent savings.
>Drivers in that same age group with credit scores of 650 to 749 pay an average of $1,658, a savings of $280 compared with the overall average; those with lower scores, of 500 to 649, pay an average of $2,023, or $85 more.
>(Drivers with no credit file are penalized the most; they pay an average of $2,182, or $244 more than the overall average.)
go back to when they were $10 a coin
>browsing /pol/ a few months ago
>people shitting on it
>$10 for virtual money
>Its a scam
>I listen to /pol/
>buttcoins are worth hundreds of dollars
>people saying for months that its a bubble and will burst
It's an annual percentage rating. Basically, it's what you get charged in interest in total through the year if you have unpaid principle. It's NOT monthly. If you want the monthly charge that gets added to the principle, it's that number divided by 12 roughly multiplied by the principle left.
Pretty simple to understand, actually. Most of /v/ is is just full of shut ins or baby anarchists that don't understand how things work, or are using (better) European/British systems, such as you.
If you are working full time they will give you good rates and give you a small or moderate limit. And then offer to raise the limit later on for you if you find the amount is not enough. It's an old trick.
If you pay it off at the end of the month, no biggie. If you don't pay your balance though, you get charged a percentage of your overall balance. Rates like these suck, but usually come on a card that offers something like "No interest if paid in full within 18 months", which is a really nice way to get something now, and slowly pay it off over time, but not pay any extra money. I've done it with a bunch of stuff, and as long as you pay it ALL off within the given time period, you're fine. BUT, if you don't pay it off, and even a dollar remains, some cards will hit you with compiling interest, which essentially means you get ALL of the interest you accrued over the last say, 18 months, charged to your account all at once.
Credit cards are great ways to finance new purchases, but you gotta be smart with them.
The rate is the interest that you would build during the entire year, so that 27% is divided amongs whoever many times the credit card issuer decides to compound your interest. Say its annual, once a year, and you spent 100 dollars on your credit card. By not paying off the 100 in the grace period, you have built 27% debt on that 100 during the course of the entire year, making your debt now 127 dollars.
If the interest is compounded per month, then in each month where you did not pay your debt during the grace period, you build 27% intertest per year Divided by 12 months per year, 2.25% interest per month. So, in that one month where you spend 100 dollars, you build another 2.25 dollars worth of interest, this makes more money for the issuer as in the next month, the next 2.25% is calculated on your new level of debt, 102.25 instead of the original 100. As said earlier, some compound per day, meaning that your debt grows faster compared to monthly or yearly interest charges
buy stocks, bonds are shit right now
tech lately has been at the shitter, while walmart is shit for some reason. Exxon is down lately, if you are for real about this then that would be something I'd buy in. I am a stock broker's apprentice while I learn to become one myself, if you have any further questions.
>Been working since 16
>Each month since I got a job get right into online banking. tell myself I'll put 1/4 of my paycheck into a savings account no matter what
>This morning just topped up this savings account to £23,000, with my debit card account having £800 in it and I've got about £500 in cash
feels good mayn. I'm also technically Jewish so..
I do. I'm not super high pay, but it's connected to the same bank account as my savings (see above)
I've never spent above £100 in a month on my card, ever.
I'll teach you the big secrets to not being retarded with money.
Set aside a bit of money each week to pay for your monthly bills, you do not fucking touch this money for anything else but those bills you goddamn idiot. Set aside money for other expenses like groceries and whatnot, and set aside some emergency money each week too, because life doesn't make goddamn sense sometimes. Whatever is left over can be spent how you please, but a smart person would stuff it in a bank anyway so don't spend money for the sake of it.
Use credit cards. Anyone who tells you they're evil are fucking stupid. These little shits will save your ass some day. Put things on the credit card, make sure you can actually AFFORD it before hand, pay back your debt IN FULL when it arrives and enjoy your platinum credit rating, bitch.
Not if you pay it off right after you charge your credit, its 10x more effective to wait till its time to be billed and to not fully pay it off to build credit faster and better. Credit companies don't like it when you use credit when you don't need it
>tfw live paycheck-to-paycheck
>tfw ready to anhero if I get injured and cant work because no one will support me
At least I can fly with Zyzz to Mt. Olympus...right?
>not utilizing credit well
I've never paid a dollar in interest and I'm 24. It's not hard to get a good credit score. The travel benefits and extended warranties have saved me tons of money.
This interest rate is outrageous and only a complete fool like a gamestop consumer would tall for it.
How young and naive are you kids to think you need a credit card to build credit? You shouldnt buy something yiu need a credit card to make themonthly payments on, with high interest it's how you stay in debt forever.
Please don't fall for this shot you stupid americans, there are better ways to build credit without accepting outrageous interest rates
This is exploitative of rerards
This is a false statement. You do not need to keep a rolling balance. Jsut wait untill they say "ok faggot, you owe use 150 bucks by next week but just give us 5 bucks." Then pay in full.
> Fact: You don't need to be in debt or pay a penny of interest to have good credit scores.
> **Your credit reports and scores don't "know" whether you're carrying a balance or paying it off in full every month. That's because the balance reported to the credit bureaus typically is the balance from your last statement, not what was left over after you got that statement and paid the bill. So you might as well pay in full and save yourself the interest.**
> This myth encourages people to carry unnecessary debt, putting them at the mercy of credit card issuers and eroding their financial security.
>One of the most popular credit score myths is that you need to carry a balance in order to build credit. Fortunately, that's not true. In reality, 35% of your credit score is based on your payment history and creditors don't care whether you carry a balance or not. **In fact, your credit cards will report your statement balance each month with no other information. No one knows, or cares, whether you've carried a balance from month to month or just racked up the charges on the statement in the last month.**
The 23k is in an ISA (Tax free savings account) giving me roughly 3% interest
I know it's not as good as investing but fuck I'm 20 I don't want to lose all of my money in stocks or something
Paying a credit card with another credit card can't be done generally. If you use balance transfer checks to shuffle balances, they will charge you at a minimum a fee of 2-5%, and unless you have a promotion, will start charging you a higher APR than normal as soon as you transfer the balance.
Also other issuers can see if you're putting high balances on your other cards, at which point they don't issue you new ones, reduce your credit lines, or in severe cases, close your existing ones.
>tfw got a job the summer after I graduated high school
>tfw saved up pretty much all summer
>tfw had to dump it all into buying textbooks for college
From then on, I was forced to completely self-sustain on min wage jobs living in a college town. Shitsux. Luckily I've got a pretty good paying job and live in a shit cheap place so I'm starting to finally get a lot saved up.
I know you're probably being sarcastic, but no you cannot pay off credit with credit.
Credit payments are usually restricted to debit, check, or cash transactions, specifically to prevent that thing you said.
>i want to start playing the stock market, where do i start?
Just give your money to me directly, it'll save you the heartache.
But really you should start by
buying dummies guide to stock marketit helped me somewhat understand, then get eTrade and start buying stocks and waiting months to make money
Stock trading doesn't work if you can't invest like 100k though, money breeds money so a 2% increase on $30 stocks is 60 cents, and that's generous of 2%. SO to make big money you'd need 1000 stocks to make $600, which is an original investment of $30,000
credit repair is tricky and some is just due to age. a lot of junk debt buyers are not able to have proper evidence of the debt though, or will settle for a fraction of the original amount and remove all references from your credit report (called a pay for delete or PFD).
google it, but you might want to post about your situation on creditboards.
You won't have infinite money but you will have most of your debt precariously balanced in such a way that as long as not every other credit card demands payment on the exact day(s) as another one you can pay off your debt this way. Though generally when you do pay off one credit card debt this way ideally you're supposed to cancel that card until you're left with only one or two cards.
get a starter card at a credit union, the requirements for them are nearly non-existent.
instead of using your debit card for purchases, use the credit card. and only buy shit you'd normally be able to afford. Then pay off the card 100% before the due date every month. Don't just pay the minimum payment. The entire balance.
Didn't go to collage. Just worked odd jobs
>Still live with parents for £200 a month
>My dad super jewed a car company so I get a brand new VW polo for £100 a month
>Job I works at pays for my fuel
>Watch money rack up because I have no friends or social life
l-living the l-life fellas
It's ok to do if you wanna change cards entirely, but not recommended if you're having trouble paying your bill.
I transferred about 500 bucks to a new card from an old one and got 0% interest for a year, a lower interest rate, and a higher limit. Totally worth it, but my score tanked about 40 points, i've since rebuilt it and it's only been 6 months.
>get a credit card if someone will give you one with your supposed "bad credit score"
>make maximum of $50 purchases every month on it
>pay off at end of the month
...that's all. Credit score just means you're good at making payments on time. A high score is just a way for companies to see they can trust you with credit and that you'll pay it back right on time instead of running off with their money.
>chip/pin... americlaps have not yet adopted this
Very few cards have it.
Marriott Platinum Visa: Chip & signature
PenFed Cash rewards: Chip & pin
Citi AADvantage: Chip & Signature
most american points of sales don't have chip readers yet though.
you don't. federal loans at a minimum can't be discharged during bankruptcy.
>Credit cards are a jewish money grubbing scam!
I'm so absurdly tired of hearing this You didn't fuck up your credit and drown yourself in debt because of evil corporations, you did it because you incorrectly used credit.
Stop trying to find an excuse for your stupidity
>after 48 hours your loss is capped at $500 on debit cards, after 60 days your losses are unlimited if you don't notice fraud.
source: US Electronic Funds Transfer Act
Yeah i'm not in America though, in Australia. Laws here tend to require more responsibility and well being on the corporate end.
Pay it off or die.
There are some ways to not have to pay it for a while if you cant get a job or get hurt. But at some point you have to pay it off. In Florida if you make a payment plan that is like 30 years long they can offer to close the account early for a smaller lump sum if they want their money faster
>walmart and sam's club just started doing it. if your card has a chip on it, you can't use the magnet stripe at all.
They're on the better side of the EMV mandate. The mandate is that you need to support it on or before October 2015 or you get fucked if you don't support it and someone claims a charge is fraud.
>go to college
>$20k student loan
>they want me to pay $250 a month
>pay $300 a month instead for 3 years
>finally get a non-retail job and make good money
>decide to start paying $1000 a month because I can
>people telling me that finishing early will make my credit score worse
>but if I only pay $250 a month, I'll get stuck paying interest well beyond the year 2020
I don't understand this credit shit. I just want to get rid of my loan so I can afford to move out of my parents' house and into a decent apartment, go to work, eat food, and play vidya. I'm not asking for much, am I?
>financing video games
who the fuck does this?
when you're young is when you go with the riskier investment. The S&P 500 has returned an average of about 11%(about 8% after inflation) Over 40 years, your return in a fairly safe index fund should be about e^(40*.08)=24 times what you put in today (adjusted for inflation).
I'm not saying to put all your savings in stocks, but everything beyond what you need to live for ~6 months and what you're saving for a car, down payment on a house, etc. should go in a retirement account to grow IMO.
I was about to come in and mention this. Theyre making us shill this shit all over the store.
I work the Gas Station. I carry the clip board around to make it look like I'm shilling but fuck bothering people just getting their gas.
lol probably not a good example but technically I guess you are being responsible if you're just paying for beer only with it, since you could probably afford it anyway without a credit card so you're really only buying something you could pay for already.
>Get first credit card with first job
>17.9% Interest rate
>12 years later, card has 12.9% interest rate.
It also gets me about 150$ worth of points per year, while costing 40$. So they pay me 100+ a year to use the card. I never pay interest on it because even though I buy everything with my credit card, I always transfer money back to it that same week.
>Work in shop in bongland
>merrican comes in, buys a trolly full of beer and steaks
>HEY BUDDY JUST GONNA HAVE A COOK UP WITH MY ENGLISH BUDDYS HAHAHA GOOD WEATHER TODAY
>ok sir that's £50
>HEY BUDDY LET ME JUST PUT THAT ON MY PLASTIC, MAN YOU ENGLISH HAVE SOME HOT GIRLS HERE
>he gives me his card
>just put it in the chip and pin machine
>THE WHAT? WHAT'S THIS?
>WHERE DO I SIGN IN THIS THING
>WHAT'S IN THE BOX?
>we don't have any swipe machines any more
>dumb fucker didn't bring any cash with him and had an ancient card system
>HEY BUDDY SORRY BOUT THAT MAN WELL HAVE FUN PUTTING MY STUFF BACK
>people telling me that finishing early will make my credit score worse
"People" are misinformed. Jesus fuck is that bad advice. If someone gives you credit and you pay them back, that's good for you. Never pay interest because someone tells you it's good for you.
I work at Home Depot, and they did the same thing.
>Show up for work in the AM
>Breaking all the money bags down, doing deposits.
>Dude shows up with a cart filled with boxes
>"Hey man, you gotta set these up today before you go".
>Rush to finish doing deposits, ordering change, fixing time clock
>Have to swap out all the cords on the PCs, took me almost 4 hours to do them all
>People keep ripping the fucking styluses out destroying them.
>Half of them are already broken.
Fuck this shit, 9.88 an hour for what I do is fucking bananas.
>Brags about his new car and rolex
>tells me he's earning loads
>drive average car, average stuff
>I never go into debt
>he tells me he isn't either, he just earns a lot
>skip forward 5 years
>he lost his job
>he's in debt by 40k
>he's fucking around with his cards
>he's stressed all the time
>selling all his stuff he bought on credit
>still owes shit loads
>meanwhile I've never gone into debt once, rent everything and my savings account has gone over 40k now
>live modestly, get beer and weed every week and pirate all my vidya
>he turned up to my flat one day crying saying he needed a hug
>his girlfriend left him, he's now in 100k of debt and can't find a job
>feel good I never got into debt
Not saying debt is a completly bad thing, but I don't need to drive a BMW or live in a huge house. I'm content with a modest life
your credit score won't go down for paying it off sooner, it just won't improve as much as it would if you continued to chip away slower because that's how credit companies make their money.
In America you can be a teacher at a private/religious school and just need the degree. My friends friend does it and he said it was really easy. Just a matter of getting the job
>Work in a shop in burgerland
>bong comes in, buys a cart full of crumpets and tea
>BLOODY HELL IT'S FOOKING 'OT OUT ERE TODAY INNIT GUVNAR
>it was 67c
>JUST GOWNA GO SAY ME CHANT TO THE FOOKIN QUEEN IN THE DIRECTION OF MEKKA OH EK
>ok sir that's $50
>he gives me a crumpet
>no sir in america we use cash
>WIBBLY WOBBLY OLD CHAP I LEFT ME APPLES AND TRAIN ON THE WRONG QUIBBLE
>he gives me some funny looking note with some old bitch on it
>he gives me a card
>he tries to insert it into various holes of my station
>sir just swipe it
>he begins swiping it aroudn in the air
>WHAT, BY GUMBO IT'S NOT WORKING BLOODY BASTARD WHAT IS THIS
>don't have any fish and chip and pin machines
>WIZZLY WOZZLY JIMMY SAVILE AND A PACKET OF FAGS APOLOGIES OLD CHAP, DO HAVE A GOOD TIME RETURNING MY GOODS I'LL JUST GO BUGGER OFF AND HAVE A SHAG WITH THAT BINT OUTSIDE
Living the dream man. People are brought up thinking they can live beyond their means.
>Live at home, plan on moving soon, but no one really wants me to leave since I do a good job keeping the yard cut, fertilized and pretty.
>Work a crap retail job, but I'm just biding my time until I finish school.
>Don't buy a lot of crap
My worst vice is retro vidya, but I limit myself to about 60-100 a month on it. I'm at the point now where I could probably turn around and sell it all for about 3k, and that's really low balling it. So it's kind of it's own safety net, probably not the best investment, but I got a shit load of NES and SNES games before they shot up in price, and now most of what I have it worth double what I paid.
A loan isnt the same as a credit card though. When you close out a loan it is done. It doesn't just sit there with a 0 balance racking you free credit for the rest of your life.
>people surprised at 26.99%
Are you all tweens on mommy and daddy's computer?
Banks and credit unions check a person's credit rating and debt:income before approving a line of credit, and currently will give out credit with an APR of 13%.
Big box stores and other retail outlets also provide lines of credit, but do so without giving a flying fuck about the person's credit rating. As such they expect some people to not pay at all, so to balance that out and make a profit they attach insane interest rates to their cards.
26.99% is fairly standard. A Sears or Target card will have the same interest rate.
>he's in debt by 40k
That's not a lot, anon.
You're retarded. You're avoiding debt, but by doing so you're spending more money and earning zero equity.
>100k in debt and can't find a job
That's what bankruptcy is for.
This never happened. You suck at finances.
>work in a shop in burgerland
>black comes in, buys a cart full of watermelons and lockpicking tools
>bunga nunga doonga munga boonga
>ok sir that's $50
>he gives me a watermellon
>no sir in white shops we use money
>bunga munga ooga booga bix nood
>he gives me a credit card
>the name on it is Mrs Paula White
>sir you're not a mrs paula white
>boonga white wimminz chicken onga bonga
>he offers his wife and first born son
>woogly boogly oggly smoogly, bing bong bang
>drops a load of quaters on my counter, walks off
So /v/, when does the interest apply to a credit card? Would you need to make an effort to pay off the card before the end of the month/billing cycle. Or is it fine to just wait for the bill and pay it asap after you get it.
>So /v/, when does the interest apply to a credit card?
when you don't pay the bill in full each month
>Would you need to make an effort to pay off the card before the end of the month/billing cycle.
> Or is it fine to just wait for the bill and pay it asap after you get it.
ding ding ding
read op it's pretty typical
>>>>Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month.
50 people give a bank 10 grand to look after
10 people ask for loans of 50 grand
bank grants money from A to B. they make money on the loan, because 50 grand might make them 20 grand over several years. Some of this money is then given to the people who's money they used, the rest of it is profit for the bank
No. You need to let it post on the statement. If you pay off each statement in full each month you get good credit and pay no interest. If you never let it hit the bill it won't build your credit.
Credit story time
> sign up for a credit card
> sign up bonus is to spend 500 in 3 months and you get 200 back
> Use this to buy a computer I've always wanted
> Get a shit ton of points for buying things
> points go to cash back
They got me. But hey, I saved over 200$ on my new computer
Credit cards aren't the only way to build your credit. Recurring payments are good for building credit as long as you pay them in full and aren't late. Things like cell phone bills and the like will help you establish a credit history. It just takes time.
Oh good, another thing for the cashier to bother me with when I'm trying to check out.
>A-anon do you want to preorder anything
no i'm good
>A-anon but assassins c-creed is comin--
no thank you
>.... are you a p-power up rewards member?
>would you like to sign u--
no thank you
>......................... HOW ABOUT A CREDIT CARD?????
Open revolving accounts count towards credit
I don't use credit cards, I never have. My credit score is in the 600's because of it. I don't have a car payment, credit cards, mortgage, anything.
>3- I should have good credit; I pay my utilities and cell phone bill on time every month
> This is one of the sad facts about credit. It may be used to determine your ability to pay for everything you do, but not everything you do will reflect on your ability to pay. In other words, your cable company, phone company, gas company, etc., are all going to check your credit (they probably won’t tell you either). However, because these institutions are not granting you credit, they will only report to the credit bureaus if you fail to pay. In other words, when it comes to phones, utilities and cable, you can only hurt your credit, not build it.
>On-time monthly payments for services like telephone, electric, water, cable, Internet, etc. are not reported by most utility companies to the three national credit bureaus, which store information for consumer credit reports. Because of this, on-time utility payments are not considered in most consumer credit reports.
Credit cards can be a good deal as long as you're responsible (the majority aren't). If you are, you will find yourself getting bonuses for things that you were already going to do.
For example, I have a credit card with 2% cash back. I use it to purchase the things I was already going to buy anyway - fuel, groceries, etc. then I get money back for doing nothing. Needless to say, I always pay my bill in full and on time.
It's an example of how people with money get advantages that most people don't get, earning or saving them more money in the process - cash back, airline miles, gift cards, etc.
Might have to take whatever I can get with my score in the mid 500s
I don't know about first, but the first serious bank was for helping pilgrims reach jereusalem in like 1200's or some shit
Because traveling was expensive and when money is literally a big bag of gold, not only is it expensive but you're likely to get robbed
So you go to the bank in your country, say England at the time. the bank then takes your sack of gold and gives you a credit note. this credit note can then be taken out at any bank in the world run by the same people.
It just got more complex from there on out
We doing credit stories now?
>dad gives me a "job" in his interstate company so banks think I have income
>credit cards roll in
>dad puts me on the house mortgage
>my credit cards pay the mortgage
>he pays off the credit cards
>have 812 credit score
>I could realistically qualify for a jumbo loan
>I tell my dad I want to buy an apartment complex
>we go check some out
>we find a good one, 8 units, 3.2 mil is asking price
>we talk him down to 2.7
>I qualify for the loan
>buy the complex
>own apartment complex
>live in one unit, rent out the other 7
>parents so proud of me
>I research other business ventures during day, play vidya for like 4 hours a night
>life is actually good
Thanks mom and dad for helping me get off my feet in this fucking country - families should help each other out.
>I-I've been living a lie. When I was 16, I forgot to pay my cellphone bill and my mom made me go into the store, pay it, and apologize for being late
Read more closely.
>, they will only report to the credit bureaus if you fail to pay. In other words, when it comes to phones, utilities and cable, you can only hurt your credit, not build it.
IF you don't pay, it shows up on your credit card and hurts you.
If you're good...they say nothing to the credit bureaus and it doesn't benefit you.
sign up for creditkarma and creditsesame (credit check sites that are truly free, e.g. they don't ask for credit card, debit card, or bank account numbers when you sign up) and figure out how the fuck you got your credit card so far into shitsville.
Myself. If i get too busy, i'll get a building manager, but they take a big cut and will typically do unnecessary renovations since they have kickback systems with private contractors.
That seems like a pretty sweet gig up until moveout day lol
>mom is jobless
>step dad claims as dependent without ever paying me
>find out I've been missing out on shit, having been financially indepdendent since 18
>paying my own way through college and master's courses
>step dad pays his shitty daughter's tuition, rent and car payments
>gets mad when I ask for 50$ emergency
Coming from a poor family is suffering
I never said that.
Dad bankrolled me 250k cash to get the loan. that's what i mean by them helping me out.
I'm paying him back currently.
If a bank sees you posting 250k of your own money, theyre gonna trust that you know what youre doing.
Good thing us native americans are free from federal "law" more like tyranny amirite ;] Rah rah piss on columbus
>So basically the bank gave your dad a 2.7mil loan, in your name
>Not everybody has a parent that can back a 2.7 million loan you know
I understand, see>>255309689
I was originally looking for a duplex in the 700-900k region, it was my parents that pushed me to go bigger. Call me old fashioned, but I think family unity is an important thing.
>Because if someone steals your debit card information and uses it, your money is gone forever. Credit cards have ways of denying charges.
The exact opposite of this is true. Most debit cards have safety features and any unauthorized charge can be cancelled if you report it right away. Only an idiot who never regularly checks his balance would actually lose that money.
>Paying 27% interest to spend money
Why not just spend money you have, at no interest? I have never understood getting credit cards or lines of credit for small purchases.
I sure hope that non of you idiots are paying interest to pay for entertainment.
My college cost over $50K/yr, if I wasn't a
trust fund babbyI'd be fucked.
Then again, if that circumstance was different, I would have gotten merit aid at a state school and paid less than $10K/yr.
Not sure, but I looked it up and apparently im not the only one having that particular charge be problematic.
I called my bank to issue me another debit card an cancel my current one. My new one came in the mail but I kept getting that charge because the dumbfuck on the phone didn't cancel it so I physically went to the bank.
I think that's the final straw with that particular bank. Currently looking into credit unions.
Award winning just means they had the biggest marketing budget, and Wii U easily beats it in exclusive games, especially since the industry's definition of "exclusive" includes games that are shared with PC and last-gen (Titanfall) and timed exclusives (Dead Rising 3.)
not really if you want to build credit which is hell of a lot more useful than a checking account.
>tfw have been with my bank for over a decade
>tfw have shit credit and got denied everytime for their credit card.
Shit son, I don't even qualify for overdraft protection.
you set up an account and deposit money into it, either at a bank or ATM. If your debit card is also a Visa, you can use it Some debit cards can be used anywhere, provided they're a Visa or something. Other debit cards (usually at ghetto local banks) can only be used at ATMs. Debit cards mean you have a checking account, meaning you can write checks to pay off...
...which is what you use to borrow money and pay it off later. This gets tied into your credit score, which can determine how big of a loan you can take out when you want a house or something.
>Not having overdraft protection because your credit is so shit
I have no credit history and have no problem getting overdraft protection. Just don’t be so stupid with money.
Your bank must think you are an uber fuckup
Credit is money that you pay back. Debit is money that you currently have. Debit is the digital equivalent to cash.
It depends on the purchase, but if you want to build credit(which is how you're going to get financing on anything), then you're going to need a credit card.
Funny that men have to pay more for insurance
Even the studies that claim women are better drivers say that because they claim women get in 40 percent of the accidents. When they are driving 40 percent of the time. So that doesn't really put things in there favor.
Having good credit shows that you're responsible with money. This strikes well with any institution that is handling risky purchases(buying cars, renting apartments, buying houses, getting insurance, student loans etc).
Women get into accidents that damage the car. Men get into fewer accidents but do accidents properly e.g. property and medical damage that costs tens or hundreds of thousands.
>You just have to get very specific financing for very specific items.
As in, 20% APR on a car loan.
There are people that will generally lend to you with shit/no credit, it's just under godawful terms.
Nope. If you can manage to pay a decent down payment (show some fiduciary responsibility) and have an applicable cosigner, you can get as good a rate as anyone else.
>Buying new cars
Good job goy.
> While figuring out why men often pay more still isn't completely clear, experts cite statistics showing that men and women drive differently. Not only do men spend more time behind the wheel (they drive about 1.5 times as many miles), but they are more likely to violate laws for speeding, yielding and passing. Plus, they take more risks (males were involved in 1.25 million more crashes in 2010).
So basically if you can find someone who played the credit game right and agrees for all financial responsibility if you fuck up and it's just their credit being considered, you're golden.
Good to know anon, but a lot of people don't have people to cosign for them.
As far as buying new vehicles go, I'm 24, live at home, count all my shekels, have a 12 month emergency fund, max out my 401K match, and currently drive an old-ass car while having virtually no living expenses during the week. I can actually afford a new car, and recognize from a value perspective this is not ideal but after driving rental cars all goddamn week I want one nice car for my two hour drive each way to the airport and around town activities when I am home.
Most people who aren't blood are not going to cosign for you. A friend asked me to and I declined and explained why. Went over like a fart in church, but when your friend is bad with money I'm not going to hang $20K of risk for him around my neck with no benefit for me.
At least I know to start saving now so I can go to Community College around 36 before my knees give out because I'm an idiot and will probably pay all in cash.
>tfw probably in remedial classes for 2 years because of no SATs and bombing the entrance exam
I have a playstation card. Got a year of PS+ free and now I get 10% back on all my PSN purchases for free. Really, there's no reason not to get a GS card too if you can. Building credit is good. Just don't have too many cards and you're fine.
>tfw you were going to go to University but know that you can't afford it
>settling on a A.S. in a related field and working your way up
I'll graduate 4 years later than everyone else, but at least I won't be massively in debt.
That's almost 1/3 of the amount in interest on top of whatever late fees they might have. Fuck that. A Discover card has lower risk than that shit.
Well it doesn't cite who did their study. And the way they worded that just sounds retarded.
>Not only do men spend more time behind the wheel (they drive about 1.5 times as many miles), but they are more likely to violate laws for speeding, yielding and passing. Plus, they take more risks
>Not only do men spend more time behind the wheel
>but they are more likely to violate laws for speeding, yielding and passing
Um isn't it logical that if they are doing more driving they will commit more violations?
Again though why didn't they list the study. Granted the link I posted wasn't the actual study itself, but it listed who gave it. Which gives you sufficient information to look it up yourself. This gives you nothing.
>Female drivers were found to be involved in 68.1 percent of all crashes
European Education Failed once again
>if you drive more than someone otherwise the same, you are more likely to get in an accident
True. If you suck at driving, you're more likely to get into an accident as well, but that's not taken into account here.
The link I posted. Which reference a study down by the university of Michigan claimed that men don't get in more accidents. Being more likely to get in an accident, does not mean you get in more accidents. There is a difference.
And logically speaking this premium men have to pay should only last for a few years. At which point you could judge them on how many accidents they have personally gotten. And how many tickets they have personally gotten. Not based on some generalization which does not necessarily apply to them. Unless you were just in it for the money.
>Being more likely to get in an accident, does not mean you get in more accidents
Insurance prices off how likely you are to make a claim to distribute the cost of different risks amongst the populations.
And based on the study which was referenced in the link I posted men do not in fact get in more accidents. They actually get in less. So why look at information that says they drive more often, but but not studies that show they get in less accidents?
It would be like if good driver policies only looked at how much you drove, and not how many accidents you had gotten in.
>Well anon you haven't gotten in any accidents in the past 10 years.. However our information shows you drive slightly more than the average driver so we are raising your insurance fees
That would just be stupid.
funny thing is, preorders are on a store by store basis. There is no national database for the preorders, so if dude is actually doing this and needed money for something when he was no where near home, he'd be fucked.
>shopping at JC Penny
>having a card at JC Penny
mom, stop browsing 4chan please.
damn son, we'll I'll see you around in there if I
have to accompany my white bitch.
might have to apply on the points site for it. Bring your SSN!
I can imagine the usual gamestop audience's credit tanking because this is pretty much easy credit.
too skinny and ginger from what I can tell of the same guy they use in the posters outback near the lounge.
You need to realize the credit system used in capitalist society is inherently venomous in nature, it is intended to put you in debt. Gamestop is basically a bank, now. //before, I read a post on /v/ where a guy said he used Gamestop as a bank, basically exchanging games for cash and vice versa and keeping his money in into the value of the physical assets; his games. Now, that isn't very sustainable, but now that Gamestop can basically loan money as well, they serve all of the functions of a bank in terms of exchange. Even so, that interest rate is INSANE.
I travel for a living and don't need idiots telling me hurr durr $6.5K balances. I get reimbursed by work and pay the bill each month, but there are a lot of people on here with short attention spans.
>is canceling a credit card with a zero balance bad for your credit? i don't want to pay the annual fee anymore and i have two other cards that give rewards points/no annual fee
It'll stop aging which can stagnate your score a bit but the downside is not worth the annual fee. Call your issuer and see if they'll waive the annual fee or switch you to a no fee version, and cancel if they won't.
>It's like they're rewarding me for banking with them.
Every fucking time