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Topic: In other news ...

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OrangeAfroMan

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Re: In other news ...
« Reply #6986 on: July 18, 2021, 02:42:15 PM »
Quote from: MaximumSam on July 18, 2021, 07:10:06 AM
I think forcing people to take out massive loans as teenagers to make themselves more qualified is nonsensical, but here we are.
To piggyback on this idea, but cut away from student loans.........isn't forcing young people to use credit to build credit nonsensical as well?  What sense does it make for someone to be able to go through life without borrowing money to be penalized for that with a low credit score?  
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And I believe Obama did away with it, but for how many decades were there people handing out credit cards to 18 year olds, just for a free t-shirt?  Talk about predatory loans....
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OrangeAfroMan

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Re: In other news ...
« Reply #6987 on: July 18, 2021, 02:44:10 PM »
You guys are basically wanting to setup a framework to guarantee an elite ruling class.....while probably being against such a thing.  
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Gigem

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Re: In other news ...
« Reply #6988 on: July 18, 2021, 03:02:39 PM »
Quote from: OrangeAfroMan on July 18, 2021, 02:42:15 PM
To piggyback on this idea, but cut away from student loans.........isn't forcing young people to use credit to build credit nonsensical as well?  What sense does it make for someone to be able to go through life without borrowing money to be penalized for that with a low credit score? 
.
And I believe Obama did away with it, but for how many decades were there people handing out credit cards to 18 year olds, just for a free t-shirt?  Talk about predatory loans....
Huh?   Nobody’s forcing anybody to do anything. 
and you earn credit. You start off with small things and build it up. I know millionaires who don’t have any credit because they never needed it. 
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ELA

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Re: In other news ...
« Reply #6989 on: July 18, 2021, 03:22:22 PM »
My dad went with me to sign up for a credit card with a $500 max before I left for college.  That's smart, but also not everyone has the benefit of a dad who is (a) present to do that; (b) aware of the benefit of getting your 18 year old a credit card; and (c) aware that you should probably shop around for one with a low limit.

But the flip side is my first card with a limit that was above what I could handle, I was irresponsible with; and then worked two jobs for a year to pay off.

The Venn diagram of people with parents who can guide them correctly, and then also demand their children be held responsible for their mistakes is very small though,
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longhorn320

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Re: In other news ...
« Reply #6990 on: July 18, 2021, 03:44:58 PM »
Quote from: OrangeAfroMan on July 18, 2021, 02:42:15 PM
To piggyback on this idea, but cut away from student loans.........isn't forcing young people to use credit to build credit nonsensical as well?  What sense does it make for someone to be able to go through life without borrowing money to be penalized for that with a low credit score? 
.
And I believe Obama did away with it, but for how many decades were there people handing out credit cards to 18 year olds, just for a free t-shirt?  Talk about predatory loans....
if you dont have a track record of any credit its pretty hard to give you a high credit score

The only time a credit score is important is when you are seeking credit

no credit history tells a lender nothing about how you would meet future credit obligations
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Cincydawg

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Re: In other news ...
« Reply #6991 on: July 18, 2021, 04:37:37 PM »
You can of course build credit by paying your electric and water bills on time each month.  And you can get a credit card with a low limit just about anywhere.  No fees, cash back in many cases, use it and build credit.  If you aspire to owning a home someday, it will be important.

And of course getting a credit card is not somehow forcing anyone to accept a loan, that premise is absurd.
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Cincydawg

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Re: In other news ...
« Reply #6992 on: July 18, 2021, 05:23:31 PM »
If you combine autonomous with inductive charging and "car trains", you get a rather interesting future of intercity transportation where high speed rail would be largely superfluous.

It also preserves the personal vehicle.
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ELA

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Re: In other news ...
« Reply #6993 on: July 18, 2021, 07:45:23 PM »
Quote from: Cincydawg on July 18, 2021, 04:37:37 PM
You can of course build credit by paying your electric and water bills on time each month. 
And cell phone and (in my day) cable, but now streaming services.

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longhorn320

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Re: In other news ...
« Reply #6994 on: July 18, 2021, 08:01:52 PM »
Quote from: ELA on July 18, 2021, 07:45:23 PM
And cell phone and (in my day) cable, but now streaming services.


when you gas up your car

how many folks out there use a credit card to buy gas

I spent many years of my life that buying gas was the only thing I put on a credit card
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bayareabadger

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Re: In other news ...
« Reply #6995 on: July 18, 2021, 08:17:45 PM »
Quote from: longhorn320 on July 18, 2021, 08:01:52 PM
when you gas up your car

how many folks out there use a credit card to buy gas

I spent many years of my life that buying gas was the only thing I put on a credit card
Seems like a bad way to build credit.
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OrangeAfroMan

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Re: In other news ...
« Reply #6996 on: July 18, 2021, 08:45:16 PM »
Quote from: Cincydawg on July 18, 2021, 04:37:37 PM
You can of course build credit by paying your electric and water bills on time each month.  And you can get a credit card with a low limit just about anywhere.  No fees, cash back in many cases, use it and build credit.  If you aspire to owning a home someday, it will be important.

And of course getting a credit card is not somehow forcing anyone to accept a loan, that premise is absurd.
The limit on a credit card is a virtual loan.  You may or may not be able to pay it back.  
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OrangeAfroMan

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Re: In other news ...
« Reply #6997 on: July 18, 2021, 08:46:07 PM »
Quote from: bayareabadger on July 18, 2021, 08:17:45 PM
Seems like a bad way to build credit.
It's a great method to get into the habit of using it and it's not so much money that you can't pay it off immediately.  It's sort of forced consistency.
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“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

longhorn320

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Re: In other news ...
« Reply #6998 on: July 18, 2021, 08:51:29 PM »
Quote from: bayareabadger on July 18, 2021, 08:17:45 PM
Seems like a bad way to build credit.
splain yourself


longhorn not understand
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longhorn320

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Re: In other news ...
« Reply #6999 on: July 18, 2021, 08:56:56 PM »
when discover card first came out and the gas stations started accepting it I thought is was the best thing since sliced bread

I mean Im going to buy gas anyway and now through discover I get cash back

it was like someone just handing me money
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