Originally Posted by smithers
i agree with dahon steve-stay out of the credit card trap! i had myself in quite a $$$ mess when i had credit card debt and it SUCKS!
I have avoided CC debt like the plague too!
When I was young, just out of high school, I got my first CC from a local bank. The credit limit was $500. I had that card for about 10 yrs. It worked out great, I couldn't rack up any more than the limit. I think I carried a balance on it once or twice, mostly I paid it off every month. I knew that if I wanted to spend more than $500, I may as well pay in cash.
Now I have 2 CC. I usually don't carry them around with me. Only if I am travelling (for emergencies) of if I know I am going to specifically buy something with them. One is a REI Visa. I get cash back towards my REI dividend. REI is one of the few places I like to shop. This CC is from a large bank that has a local branch that I can make the payments on the card at (they have not had any problem with me bringing my bike in, right up to the teller window). I got a late fee once b/c the PO was slow getting my payment to them by mail, so now I pay in person.
I have not had car payments for 10 yrs. My 15yo Subaru still looks and runs well.
My BF got his first CC at 38yrs old. He still has the first vehicle he bought for cash in 1986, but it's not running too well anymore. He rides his bike mostly anyway.
I don't know what my "credit score" is. Nor do I care. I can't think of anything I want bad enough to go into debt for it.
I'm a full-time (non-trad) undergrad student, and I am "poor" enough to get Pell grants and scholarships to pay for all my tuition and most of my living expenses. Life is good. School is fun!