Credit Cards - Intrest, Fees, and Bullshit

[D_Eclipse9916]

Putting it in bold doesnt make it true. I didnt say anything about credit score, I said building credit. What I am really talking about there is ability to get a loan. If you go into a place and you have a ton of available credit, you are going to have a harder time than if the lending institution thinks you are managing your debt properly, and dont have much room to fuck up.

It being true makes it true. Credit score/history determines your ability to get a loan. While technically carrying a balance can help reduce your risk, you're paying for that in interest. The "room to fuck up" is better controlled by setting a lower limit (free), not by carrying a balance (not-free). IOW, it's a stupid fucking idea and the bold was meant to inform others not to take your advice.

Apoc, interesting, cause I had a credit card since I was 16, but since I never carried a balance, I never accrued any credit. I was told by multiple banks that this did not build credit, that I HAD to carry a balance for it to build any credit history. Unless 3 banks in a row were lying to me. But I saw all the reports, all of em had 1 account open for 8 years (my credit card). They wouldnt even give me a credit card for more than $500 a month......

That said, I refuse to pay interest, so I never did, and I managed to get a mortgage anyway after a lot of haggling... So for those wondering, it can still be done with little credit history...