Teacup Café XLI

[Mari]

You NEED to?
I've always stayed far away from them, so I can't advise you, sorry.
Do you have comparison sites in the US where you can juxtapose several products and see which one suits you best? You can try it that way.

[Willow Oran]

I need to as well, Tessar. Can't really build good credit without one and all that. I was just planning to go with one from my credit union.

Also, just saw The Secret World of Arrietty. Studio Ghibli + The Borrowers =

Go see it!

[Midge]

My dad's advice to me (when I had a credit card) was to buy something small but regularly with it, like pay for your gas with it, then pay it off every month. Don't get it thinking you'll be able to use it like EXTRA money. Just use it instead of cash or a debit card for things you'd be buying anyway and then pay it off every month and you shouldn't get in too deep. When I had one, I got a student card from Commerce... I think the fact that it was a STUDENT card got me a higher credit limit.

My husband got one around the same time as me. My limit was 2k and his was only 500, so you might research student credit cards.

In other news, my brother was playing a college baseball game today and got in a big ol'-fashioned brawl!

P.S. Thanks for the welcomes!

[Midge]

Also... I am IN LOVE with Owl City!

To the Sky Youtube
Enchanted Youtube

I know Enchanted is a Taylor Swift song, but I like the Owl City version better and wish he'd release a cover of it...

[Tessar]

Yes, Mari. I'm not sure if it's an America thing or what, but in some cases you need a credit history to make some purchases, and if you do not have a credit card at all they will not accept you.

Also some of the ones I've looked at do have some tempting incentives, such as 5% back on gasoline purchases or other things like that. Stuff that I already buy... I certainly have no intention of charging anything special to a credit card.



FUN STORY... After six days on the market, we have an offer and we've accepted. Fastest house-sale I've ever been involved in. O_o Mind you, nothing is ever final until they sign the last dotted line on closing day, but it's going to be happening FAST. They want to close on April 5th, which is 32 days away. Obviously we have to be completely moved out by the closing date, and we can really only do weekends, so we have to be moved out by March 31st, which is in 27 days. And before THAT we have to find somewhere to move.

On the plus side, if this goes through, we'll be moved and settled in a whole month before my finals begin... so that's a huge relief. No moving in the midst of finals!!

[Midge]

Yay for only one huge trial at a time!

[Earniel]

Originally Posted by Tessar

Yes, Mari. I'm not sure if it's an America thing or what, but in some cases you need a credit history to make some purchases, and if you do not have a credit card at all they will not accept you.

Really? I hadn't realised. You can't build a good credit on payments from a regular account? Hm, I take it that is part why credit cards are so ubiquitous is America?

Yay on the quick sale and hopefully no moving during finals! I was stuck in the mother of all moves last month myself.

[Willow Oran]

You sort of can if the account is with a credit union, and if you're making regular payments on things like rent, electric, etc. but it still doesn't count for as much as having an actual credit card and keeping on top of that, and it definitely depends on who is judging your credit for what purpose.

*sets out tea and girl scout cookies*

Moving requires much sugar.

[Tessar]

Originally Posted by Willow Oran

You sort of can if the account is with a credit union, and if you're making regular payments on things like rent, electric, etc. but it still doesn't count for as much as having an actual credit card and keeping on top of that, and it definitely depends on who is judging your credit for what purpose.

*sets out tea and girl scout cookies*

Moving requires much sugar.

Thanks


What she said is better than how I was going to try to explain it. You can build credit, but in some places (banks mainly) it doesn't mean a lot unless you have a credit history tied to a credit card. I am also not with a credit union, I'm with a regular bank... so my credit history is almost non-existent from what I've been made to understand.

Since I've only (fingers crossed) got a year left in college, soon I'll be needing to get loans for things like a car, and have a credit history for various other things. So now is the time to start building up that history.

But I think I'll be limiting the usage to gasoline and text books... unavoidable expenses. If it's for something like an iTunes album or sheet music I'll probably still use my debit card.

[Grey_Wolf]

Why credit history or the owning of a credit card should be a mark on person's suitability for shopping is quite beyond me. Is it "See my credit history and thus know who I am"? Does that mean that putting yourself in debt is the only way of being accepted by merchants and banks?

[Earniel]

Interesting. Thanks for explaining.

I take it it's therefor fairly easy to get a credit card in the first place, then.

*nicks a cookie*

[Valandil]

Originally Posted by Grey_Wolf

Why credit history or the owning of a credit card should be a mark on person's suitability for shopping is quite beyond me. Is it "See my credit history and thus know who I am"? Does that mean that putting yourself in debt is the only way of being accepted by merchants and banks?

I think the good mark you get is more like: "I have borrowed and paid it off before. You can trust me to pay this back later."

[Tessar]

Originally Posted by Eärniel

Interesting. Thanks for explaining.

I take it it's therefor fairly easy to get a credit card in the first place, then.

*nicks a cookie*

Yes, it's a little too easy. That's a big part of why so many Americans have major issues with debt. It is SO easy to get a ton of credit cards and just charge them up to their limit, which is what a lot of people do.

A good friend of mine did exactly that, unfortunately. So now in addition to his massive university loans, he's also paying off two maxed-out credit cards. He's 28, and at the rate he is able to pay off his loans and cards he's going to be in debt until he's in his 40's because the interest rate on his loans and cards are so high. He'll be able to finish paying off the cards in a few more years, but the student loans are building up a ton of interest expense (because he spent waaaaay too long getting his degree... sort of like me ).

[Grey_Wolf]

Originally Posted by Valandil

I think the good mark you get is more like: "I have borrowed and paid it off before. You can trust me to pay this back later."

Yes, that could be the case, of course. But a lot of people get cc's and have no means whatsoever by which to pay any loans back for a foreseeable future. I was in debt in the mid-90s and once I got rid of that I decided never to buy things on credit ever again. Now I save up and then buy what I was saving for. Paying 30 % interest isnt something I'll ever want to subject myself to again.

[Tessar]

Originally Posted by Grey_Wolf

Now I save up and then buy what I was saving for.

Outside of cars, houses, and other major purchases that require multi-year loans, typically that is what people advise. Only buy something if you have the on-hand cash for it. Too many people use their credit card like an extra source of income, rather than viewing it like a debit card where you have to be able to immediately back up any purchase you make with cash.

[Grey_Wolf]

Originally Posted by Tessar

Outside of cars, houses, and other major purchases that require multi-year loans, typically that is what people advise. Only buy something if you have the on-hand cash for it. Too many people use their credit card like an extra source of income, rather than viewing it like a debit card where you have to be able to immediately back up any purchase you make with cash.

One should think that banks and credit institutions would have an interest in getting paid for the loans they submit to people. But what Ive heard that was the major issue causing the financial crisis - the unfettered handing out of loans to people who had no means to them the back. A telling quote from one of our politicians is this - "If you're in debt, you are not free."

[Earniel]

Originally Posted by Tessar

Yes, it's a little too easy. That's a big part of why so many Americans have major issues with debt. It is SO easy to get a ton of credit cards and just charge them up to their limit, which is what a lot of people do.

Yeah, I hear you. Which is why I had my credit card's spending limit put as low as possible. It's good that I only use it for the odd online shopping, but it is far too easy to go spending money you actually don't even have. I prefer to do most of my payments with cash as I can keep a better eye on what money I spend. Just too bad that they keep lowering the legal limit of what you can pay cash because of the OMG-cash-is-untraceable-it-must-come-from-fraud!-attitude they've got here lately. I can't even buy a dinky old second hand car anymore without a bank money transfer! When governments need cash, it seems everybody is guilty of some fraud until proven otherwise.

[Willow Oran]

*makes a round of drinks*

Our favorite bartender was experimenting with new drink recipes tonight, so I got him to make me something I'd had in mind based on shiny anti-nazgul characters in LotR.

Goldshlager in champagne with a slice of lemon - I call it a Flame of Westernesse and it is delicious!

Now I just need to figure out a good complimentary recipe for a Black Breath drink. Maybe jaegermeister or absinthe in a really hoppy, malty beer...

[Midge]

I heard last night someone say that we should not call people "homeowners" until they actually have paid off their home and truly own it.

[Tessar]

Eh, I don't think it's that big of a deal... I can understand the sentiment on the one hand, but on the other I think a lot of home "borrowers" would be pretty offended if you started telling them they didn't own their home.