credit cards

45 minutes ago (edited) Report 👍 1

sure, you could… but in many situations, like trying to get a loan or rent, they’ll use your credit score to determine if they should lend or if you’re worth it. just using a credit card for small purchases and paying it off every month can boost your score. you don’t need to spend your limit and let it roll onto the next month. with one of mine, my score greatly increased when i used it often (not even while paying it off every month, but at the time i had no interest). as i’ve stopped using it, my score has decreased- which is kind of funny. getting one as a young person is ideal. by the time most people are in their mid-20s they’ll have wanted to get a car or find somewhere to live, and just having a good score from wise purchases would probably help out. it’s also not a terrible idea to have one in case of emergencies. even a low limit card like $500 could be a life saver. the best idea is probably to stick with a card offered by your primary bank, and many have zero interest cards for students or young adults. taking that time you have zero interest to build credit would be very wise. it’s only (potentially) bad if you swipe beyond your means and have no way to pay it off before the interest gets you. as they say i think, putting more than like 30% of your limit on your card is a bad idea. i think that’s probably the point where people start thinking of swiping willy nilly and not having the money to pay it back. its best to avoid that, it really is a slippery slope. like i said, just pretending it’s the cash you have and buying your needs like food & gas while paying it off every month is a great way to build credit. if you treat it that way, the whole “i hate credit cards” thing shouldn’t arise.

1 hour ago (edited) Report 👍 1

My mom also talks shit on credit cards. It's because credit cards rely on that you can buy whatever you want for as much as you want, but it's with the banks money and you have to pay it off, or something like that. Pay cards on the other hand are better because you pay with your own money and don't have to be in crippling debt.

Also if you meant paying cards with credit cards because they get confused a lot, I'd say for now at least in my country it's very much possible to live without one. But you're gonna miss out on online shopping, sometimes loyalty bonuses for shops and by 2028, PlayStation games. I do have a feeling that within 40 years it's possible that physical currency will be eradicated and abolished.