How does /adv/ use their credit cards? Credit newbie here, and

>>18049111
If you want to build serious credit start with a small loan like an auto loan. Pay it off, but make sure you make 'principle' payments so that the amount you pay towards interest is lower.

>>18049111
Pay it off in full every month. A credit card isn't free money it's just a laggy debit card.

>>18049111

As was already said, pay it off every month. Only use it when you know you already have the money in the bank. Don't use it as a part time loan unless it's REALLY an emergency (for example, one time my friend and I drove out of town for the weekend and he lost his keys. I purchased a plane ticket so I could go home on time and not lose my job, which would have been a lot worse than paying off an extra $100 I didn't have in pocket that week).

Credit cards have two really great use cases:

1. You can dispute charges. If someone steals your cash from your wallet, you're screwed. If they steal your card, no harm, no foul. I never carry over $40 anymore unless for a very specific reason.

2. Bonus points/cashback/miles. If you have a card that offers this, awesome. If you don't qualify yet, get one when you do. I put 100% of my utilities, insurance, and other recurring payments on my Southwest credit card, along with any large purchases I make. I get points for all of my purchases, per dollar, and it's all for things I would have been spending money on anyways, so it's essentially a free perk. I fly at least once a month, and haven't paid for more than one flight in the past three years.

>>18049145
This. Why someone would pay a 20%markup on things is beyond me

>>18049137
>>18049145
>>18049185
>>18049257
fucking retards actually entertaining this

1. don't get a credit card
2. don't have an established credit report
3. only buy stuff you can afford

those are my three keys.


If there's one thing I don't want to have a good report on, it's getting myself into debt and climbing out on a regular basis.

>>18049264

Actually entertaining what? Having a credit card?

Enjoy not being able to qualify for a home ever, and not reaping the benefits of literally free stuff.

>>18049272
>Actually entertaining what?
the thread. op is asking how to wipe his ass. one mention of a financial buzzword and sure enough the 'hair parted to the side, perfect grammar business professional automatons start filing in'. im on the better side of 750 btw.

I use rewards cards and try to get the most cash back. I have a blue cash preferred card which gives me 6% back at grocery stores. Then go to the grocery store and buy a bunch of gift cards for places I usually go (amazon credit, steam, gas station, mcdonalds, subway etc)

It's got an annual fee of $95 but I got back around $350 last year doing this.

>>18049111
I pay it off twice a month with the phone app.

>>18049272
The best way to build credit is actually by paying off auto loans. Take a loan out and pay it down quickly, sell the car, buy another on loan and pay it off quickly.

That's the fastest way to rebuild credit after bankruptcy.

I use mine like a debit card with extra steps.
I've yet to ever buy anything I didn't actually have the cash in my account to get.
Just buy gas and shit, go home, immediately pay off credit card bill with bank account the full amount.

Just building up that credit slowly before I need to actually take a loan out for something significant like a car or house. Personally, the idea of being in debt, no matter how manageable, scares the living fuck out of me so much I'd almost rather rent forever.

>>18049111
dont actually use it. cheaper to get a bank loan, bank loans have lower rates than credit cards. best thing to do with a credit card is have automatic payment going to credit card so when you do use it you are spending YOUR money not the banks. and wont need to pay off huge amount every month in fees as their wont be any.

>>18049561
Yeah, this is true.

If you keep going into debt, and over paying for cars, eventually they'll see that you're really good at over paying for cars in debt, and raise your debt ceiling, that you can go even further in debt, and over pay even more for cars.

>>18049614
You pay them off quickly, dumbass. It builds your credit score back up very quickly. You can go from bankruptcy to good credit in a couple of years. You don't build your credit by paying cash for cars off craigslist. You do know that you can pay more on loans than the ammount due each month and build less interest on themn right?

>>18049704
>putting yourself in debt
>ever

All that money you're investing in having good credit, I'm saving to have a fortune.

All your good credit is going to allow you to do, is be in debt a fortune.