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Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says


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1 minute ago, Snake said:

And...... why?

I find your method odd as well... but I bet it works for you, And ain't that what matters?

Are you serious? 

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You do it your way...I'll do it mine. I have zero debt own 3 properties outright and don't ever have to work another day in my life. Very satisfied with living debt free and trying to encourage others to do so as well. 

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42 minutes ago, SkisNH said:

You do it your way...I'll do it mine. I have zero debt own 3 properties outright and don't ever have to work another day in my life. Very satisfied with living debt free and trying to encourage others to do so as well. 

Same.

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1 hour ago, SkisNH said:

You do it your way...I'll do it mine. I have zero debt own 3 properties outright and don't ever have to work another day in my life. Very satisfied with living debt free and trying to encourage others to do so as well. 

 

The only good debt is asset backed.  It's rather laughable those here who think getting cash back equates to that.

 

Keep doing what you're doing.:bc:

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29 minutes ago, ArcticCrusher said:

 

The only good debt is asset backed.  It's rather laughable those here who think getting cash back equates to that.

 

Keep doing what you're doing.:bc:

So you think using the free benefits a CC gives you is bad?  And remember it's not debt if you don't carry a balance.

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19 minutes ago, Steve753 said:

So you think using the free benefits a CC gives you is bad?  And remember it's not debt if you don't carry a balance.

It is in the eyes of the credit bureau...

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1 minute ago, Snake said:

It is in the eyes of the credit bureau...

And? You scared of them.

If you don't carry a balance it plays no bearing in a negative way. Although if you are new to the credit game, it can hinder you. 

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1 minute ago, Steve753 said:

And? You scared of them.

If you don't carry a balance it plays no bearing in a negative way. Although if you are new to the credit game, it can hinder you. 

I'm simply saying it will affect a credit score. The rest is position assignment.

Stop that.

If someone is concerned about their score, it would be a bad idea to say this is a good idea.

 

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Just now, Snake said:

I'm simply saying it will affect a credit score. The rest is position assignment.

Stop that.

If someone is concerned about their score, it would be a bad idea to say this is a good idea.

 

Yes paying your bills on time is great for your score.

 

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1 minute ago, Steve753 said:

Yes paying your bills on time is great for your score.

 

Charge $3k.

Statement balance $3k.

Pay off $3k, incur $3k more.

Statement balance $3k.

If you lower your available borrowing power, by borrowing, your credit score goes down.

You will get an atta boy for making a payment... a small + not equal to the - your balance makes.

Ain't scared of this shit, just knowledgeable.

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Just now, Steve753 said:

This isn't Chin-ah. No one's forcing you to participate. 

:bc:

Thank god it isn't a Covid jab, otherwise....

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

:lol:

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3 minutes ago, Snake said:

Charge $3k.

Statement balance $3k.

Pay off $3k, incur $3k more.

Statement balance $3k.

If you lower your available borrowing power, by borrowing, your credit score goes down.

You will get an atta boy for making a payment... a small + not equal to the - your balance makes.

Ain't scared of this shit, just knowledgeable.

My statement balance is zero every month. 

You're really showing your lack of knowledge on the subject.

:bc:

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2 minutes ago, Snake said:

No, you zero it out.

Every CC has a time limited where borrowing is free. Some are 21 days only,some are more. My CC payment rotates on the amount of days I'm allowed for said card. You set it once and don't have to worry about paying it. That is of course if you have the funds to pay it. 

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56 minutes ago, Steve753 said:

So you think using the free benefits a CC gives you is bad?  And remember it's not debt if you don't carry a balance.

Or it's a short term loan...depends on perspective I guess. 

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8 minutes ago, SkisNH said:

Or it's a short term loan...depends on perspective I guess. 

If I didn't get any benefits from using the CCs, I wouldn't use them. I'd just use a debit card or cash.

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1 hour ago, Steve753 said:

So you think using the free benefits a CC gives you is bad?  And remember it's not debt if you don't carry a balance.

That's not what I said.  Its OK for points and I have one for that.  Its also pretty hard to book a hotel or car without one.

 

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1 minute ago, ArcticCrusher said:

That's not what I said.  Its OK for points and I have one for that.  Its also pretty hard to book a hotel or car without one.

 

What did you say then?

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