Random Thoughts....

My parents were the same way. They started on a department store card way back in the day and have worked their way up ever since.

At one point a credit card company (not sure which one) actually granted them unlimited credit! Of course my dad called and had them reinstate their old limit. Having too much available credit compared to your income is bad for your score.

They have purchased cars on their credit card before. The car they wanted was on the lot so they called to get a bank transfer from investments to checking. It was going to take about 2 weeks so they just parked the purchase on the card and paid it off as soon as the check came in.
 
My parents were the same way. They started on a department store card way back in the day and have worked their way up ever since.

At one point a credit card company (not sure which one) actually granted them unlimited credit! Of course my dad called and had them reinstate their old limit. Having too much available credit compared to your income is bad for your score.

They have purchased cars on their credit card before. The car they wanted was on the lot so they called to get a bank transfer from investments to checking. It was going to take about 2 weeks so they just parked the purchase on the card and paid it off as soon as the check came in.

Mine won't do that, they only use the credit cards when they don't have the cash on hand. Anytime they make a big purchase they contact the bank and have a check made up :lol:

We're a family of "If you don't have the cash to buy it, you don't buy it." Took them 3 months I believe to pay off our house :|
 
At one point a credit card company (not sure which one) actually granted them unlimited credit! Of course my dad called and had them reinstate their old limit. Having too much available credit compared to your income is bad for your score.

It's not just bad for your credit rating, it's generally bad - at least for me.

My mind doesn't make the connection between a credit card limit and what I can actually afford. I think "Oh my limit is ?1000, I can therefore spend that much..." I've only just paid off my credit card after 4 years of debt. And the limit on that card's only ?500. God knows what'll happen when I actually start fulltime work...
 
It's not just bad for your credit rating, it's generally bad - at least for me.

My mind doesn't make the connection between a credit card limit and what I can actually afford. I think "Oh my limit is ?1000, I can therefore spend that much..." I've only just paid off my credit card after 4 years of debt. And the limit on that card's only ?500. God knows what'll happen when I actually start fulltime work...

If you're smart, you'll cut that card up right this minute and run cash only for at least a year until you get the hang of healthy spending.
 
I still have a low limit on my card (I got it as a "student card"). I save up for big purchases.
 
You really call that a "meme?" Now I admit I don't really get what "meme" is (and reading the wikipedia article just made me understand less), but that was nothing more than a direct reference to the SNL skit. I mean, I watched the skit when it first aired. It's one of the few I can still remember and it still cracks me up.

Nah, I just got bored with mentioning B?C/(Don't Fear) The Reaper and having people reply "LOL MOAR COWBELL AMIRITE ROFLOFL" or something to that effect.

/sand :mrgreen:
 
That's happened with me and I was horrified for the same reason. When I was a teen and only allowed to use the card for gas my dad used to call and have them lower it all the time.

mine is also absurdly high because I am good with it. I do not need to buy anything that costs 2,300 in one day!
And that is after having the card 2 years fuuck
 
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Mine won't do that, they only use the credit cards when they don't have the cash on hand. Anytime they make a big purchase they contact the bank and have a check made up :lol:

We're a family of "If you don't have the cash to buy it, you don't buy it." Took them 3 months I believe to pay off our house :|

My parents were the same way. They only used the card so the dealer could be paid (and they could get massive "points" or "miles" or whatever that card offered) while the check from the bank was being made up and mailed out.
 
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I'll just post this here. Do we have a Funny Videos Thread?
 
I don't have a credit card. :unsure:

I think it's time I got one...preferably one with lots of frequent flyer redemption points or Barnes and Noble discounts. I don't know, I'm just used to using my ATM card as a credit card instead.
 
I don't have a credit card. :unsure:

I think it's time I got one...preferably one with lots of frequent flyer redemption points or Barnes and Noble discounts. I don't know, I'm just used to using my ATM card as a credit card instead.

Stop being responsible jack ass.
 
Fine! I'll just blow my meager life savings on an old British roadster!

Only if you can float it on the market as a toxic asset.

Actually they shouldn't be too hard.
 
I don't have a credit card. :unsure:

I think it's time I got one...preferably one with lots of frequent flyer redemption points or Barnes and Noble discounts. I don't know, I'm just used to using my ATM card as a credit card instead.

Just get one and use it sparingly. You'll accumulate a good credit rating that way.
 
Vette Boss, if you manage your credit well then a Credit Card is a great tool. Especially in emergencies.

For example, I just logged into my Chase card to check on my rewards and decided to cash them in. I have a free $125 on the way which I will turn around and use to pay down my balance.

Yes, I have a balance, thanks to medical bills and moving costs. Hopefully I can use my settlement to pay it all off. Until last year I never carried a balance on my card, I only put charges on there I could pay in cash - that way I still get the free money.
 
For example, I just logged into my Chase card to check on my rewards and decided to cash them in. I have a free $125 on the way which I will turn around and use to pay down my balance.

Yes, I have a balance, thanks to medical bills and moving costs. Hopefully I can use my settlement to pay it all off.

Rewards as in flyer miles, restaurant coupons, accumulated points to save up for free Rollerblades, and stuff you weren't going to use otherwise?
 
My bank said, essentially, "We thank you for your continued patronage as a Checking account user. We've noticed that you haven't used your Credit card for some time. Your Credit account is closed. Please call us if you have any questions concerning your checking account, or your debit card; neither of which have been affected."

That was it. I haven't used that credit card for almost 6 months (because I get some cash back on my discover) and they just closed my account without contacting me first. So now all I have are my Discover Card and my Debit Mastercard.

I hate rewards. Just give me a lower % rate, please.
 
I get to choose my rewards with my card, and I always pick cash. Send me money!

Necro, my APR is already significantly lower than other people I know, it's possible to have both. Anyway, it doesn't matter what your APR is if you pay the card off every month.
 
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