Any tips on Credit?

[thinkerlove0212 158]

cash is king. Do not destroy her credit with your bad credit.

Benjamin Franklin on debt

"Think what you do when you run in debt; you give to another power over your liberty." Benjamin Franklin was famous To the generous mind, the heaviest debt is that of gratitude when it is not in our power to repay it.

Rather go to bed with out dinner than to rise in debt.

Many a man thinks he is buying pleasure, when he is really selling himself to it.

It is only when the rich are sick that they fully feel the impotence of wealth.

It is the eye of other people that ruin us. If I were blind I would want, neither fine clothes, fine houses or fine furniture.

Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants.

If you would know the value of money, go and try to borrow some.

If you know how to spend less than you get, you have the philosopher's stone.

He that waits upon fortune, is never sure of a dinner.

Gain may be temporary and uncertain; but ever while you live, expense is constant and certain: and it is easier to build two chimneys than to keep one in fuel.

Creditors have better memories than debtors.

Content makes poor men rich; discontent makes rich men poor.

An investment in knowledge pays the best interest.

A penny saved is a penny earned.

Edited January 31, 2013 by Anne and Bret

[EAbbas 213]

One thing to remember is if you get a credit card of any kind do not ever go past 1/2 of what the limit is in charging and pay it down

Financial institutions etc all look at how you use your credit not just if you have it. So if you have a CC and it has a $1000 limit never charge more than $500 at a time. (if you have to charge more pay it down ASAP)

Of course paying on time

The reason for this is if they see you are consistently at your limit they will see that you don't budget your money and live off your CC which can raise the interest rate of any kind of loan you may be applying for in the future

Edited January 31, 2013 by EAbbas

[bmiles62 5]

When my wife first came here I added her to my VISA card. Two months later she got a Kohl's credit card in her own name. After a few months the creit card offers came rolling in. I was surprised how fast it all went.

[actob99 156]

When my wife first came here I added her to my VISA card. Two months later she got a Kohl's credit card in her own name. After a few months the creit card offers came rolling in. I was surprised how fast it all went.

Thanks.... I added her to one of my cards and thats all I could get her to do. She wants to purchase her own vehicle without outang, thats why the question. She said she will save until she has enough, but convinced her its ok to borrow for a vehicle. Especially since our credit union gives great interest rates. She wants to do this on her own...

[erynaught 43]

Okay to borrow for a vehicle? Unless the loan rates are less than what I can earn in a cash investment, such as a 0% loan, then I'm never okay borrowing for a car.

However, it may be necessary considering the circumstances.