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Thread: Credit cards....explained in simple terms?

  1. #26
    God/dess Deogol's Avatar
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    Default Re: Credit cards....explained in simple terms?

    Quote Originally Posted by blueyedmiss18 View Post
    please please please from experience be careful with a credit card especially if your using it because you dont have money


    good tip only use a credit card on things that you would have cash to pay for

    i made the mistake of gettin a credit card when i needed money and didnt have any and ended up maxing out 2 and now im still paying them back to years later after i cut them up

    just be careful and make sure your on time with your payments and try to pay double what your minimum is or pay it off as u go
    These credit card companies are really sneaky devils. Be sure to see the scams they pull on people (completely legally!) on the Frontline video tacked to the top of the forum.

    (This comment is addressed to the forum in general - not the quoted poster.)
    Last edited by Deogol; 04-27-2009 at 08:58 PM. Reason: Audience specification

  2. #27
    Banned Melonie's Avatar
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    Default Re: Credit cards....explained in simple terms?

    As alluded to earlier, the true 'cost' of credit is most expensive for those that need credit the worst (i.e. subprime), and less expensive for those that really don't need the credit (i.e. prime). Even so, prime credit card rates and fees are also rising as the issuing banks attempt to utilize their prime borrowers to help fund the losses created by their subprime borrowers.

  3. #28
    God/dess firemaiden04's Avatar
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    Default Re: Credit cards....explained in simple terms?

    Trust me, I know the deal about credit cards. I had two with a $500 credit limit when I got an apartment with my ex in 2005. Lived with him for a year and a half and he destroyed my credit, cause everything was in my name and he wouldn't keep a job long enough to get a full paycheck, and he would take my money from me and go spend it on his buddies or girls he was trying to fuck. I'm trying to fix my credit now, and it's hard to do that without a credit card. I know secured cards are easier to get than unsecured, and with credit as bad as mine, the fees on any unsecured card I get are going to be outrageous, and I'm not paying them. I have Bank of America, so I already know about the cash back thing with the debit card. But I'm not at all concerned with the weird benefits some credit cards have. I just want one card with a low limit that I can use for one thing and one thing only, like gas, so I can gradually build up my credit again.

  4. #29
    Featured Member Ms. Mia Roberts's Avatar
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    Default Re: Credit cards....explained in simple terms?

    Okay, the credit card just came through the mail

    They gave me a 3000 dollar credit line, and a 1500 cash advance limit.

    I still can't seem to find the fees (they were careful about not including them in the mailer packet) so i have to look it up online... but i'm still on the fence of whether i should keep it and be EXTRA careful to pay everything on time... or just burn it

    ETA: It is a capital one credit card... and there IS a annual fee of 39 dollars...
    Last edited by Ms. Mia Roberts; 04-27-2009 at 04:00 PM.





    Quote Originally Posted by Emily View Post
    If they are spending money, we don't call them stalkers. We call them Regulars.
    Quote Originally Posted by Miss_Luscious View Post
    Fuck these people, seriously. Fuck them in the ass without lube or warning.
    LMAO!!!!

  5. #30
    Featured Member Ms. Mia Roberts's Avatar
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    Default Re: Credit cards....explained in simple terms?

    Quote Originally Posted by Deogol View Post
    They will never tell you that. They will want you to be a proud user of their card.

    Sub-prime has characteristics like:


    • Greater than 10% interest rate (which is crazy anyhow!)
    The Purchase APR is 10.9 percent after october 09 (not much over 10...but still over 10)
    • Things like "universal default."
    The card does NOT practice universal defult
    • An annual fee (charge cards not included)
    The card Does have a annual fee of 39 dollars.
    • Greater than $15 late fees, etc.
    The late fees on a balacne under 100 is 15 dollars. The balance between 100 and 300, late fees are 29. And anything over that is 39 dollars for late fees.
    • Low limit like $500 or so.
    They gave me the highest limit for the card, $3000.
    I'm having trouble figuring out if this is subprime or not... i answered yes to half of the questions

    ARGGGHHHH...THIS IS FUSTRATING!





    Quote Originally Posted by Emily View Post
    If they are spending money, we don't call them stalkers. We call them Regulars.
    Quote Originally Posted by Miss_Luscious View Post
    Fuck these people, seriously. Fuck them in the ass without lube or warning.
    LMAO!!!!

  6. #31
    Banned Melonie's Avatar
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    Default Re: Credit cards....explained in simple terms?

    ^^^ yes it's a subprime card, but near the best type of subprime card available i.e. 'the cream of the CRAP'

    In comparison, a prime card might carry an 8% 'normal' interest rate, zero annual fee, a $10,000 limit, and some sort of useful perk (like free miles, rebates of a couple of % on certain purchases,etc.)

    ETA: It is a capital one credit card... and there IS a annual fee of 39 dollars...
    you're already stuck paying this fee, so you might as well keep the card open for the year you paid for already to help build your credit rating !!! Just be extremely careful to ALWAYS send your monthly payment in a week before the due date - never go over the limit etc.

  7. #32
    Featured Member Ms. Mia Roberts's Avatar
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    Default Re: Credit cards....explained in simple terms?

    Quote Originally Posted by Melonie View Post
    ^^^ yes it's a subprime card, but near the best type of subprime card available i.e. 'the cream of the CRAP'

    In comparison, a prime card might carry an 8% 'normal' interest rate, zero annual fee, a $10,000 limit, and some sort of useful perk (like free miles, rebates of a couple of % on certain purchases,etc.)



    you're already stuck paying this fee, so you might as well keep the card open for the year you paid for already to help build your credit rating !!! Just be extremely careful to ALWAYS send your monthly payment in a week before the due date - never go over the limit etc.
    Okay. If i decide after a few years, after my credit is stronger.... could i apply for a prime credit card maybe with another company... And cancel this one? Will it hurt my credit drastically to cancel it?





    Quote Originally Posted by Emily View Post
    If they are spending money, we don't call them stalkers. We call them Regulars.
    Quote Originally Posted by Miss_Luscious View Post
    Fuck these people, seriously. Fuck them in the ass without lube or warning.
    LMAO!!!!

  8. #33
    Banned Melonie's Avatar
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    Default Re: Credit cards....explained in simple terms?

    ^^^ no problems whatsoever ... in fact I wouldn't bother waiting more than the year that you have paid for.

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