Just got my first credit card. Is it smart, or am I just feeding the banking system?

Depends on the country. The Germans pretty much use cash. Scandinavians use debit and credit galore.

If you always pay off your card on time it's fine.

got your goy cuck stamp i see

i have an american express and that's it. if i cant pay it off at the end of the month, i don't buy it.♣️

Max that fucker out and move to the Caribbean. That's what I did. Good luck finding me in the ocean, suckers. lmao

Thank you goy.

Credit cards are fine if you're smart and know how to use them/know how (((they))) will try to Jew you:
1. always pay full balance every month, the true Jew with cc's is the interest that will balloon out of control if you don't keep a tight wallet
2. it seems like free money so again, the impulse to spend more is much higher and much more dangerous. learn some fucking self-discipline if you don't have it already
3. cc's are good protection against fraud and stolen cards, better than debit cards because with dc's the money comes out of your bank and you'll never get it back. but if some dindu charges a bunch of shit you don't recognize to your card the fraud team will reverse the charges
4. need to say it again, the interest rate will absolutely rape you if you don't pay off most or all the balance each statement cycle. the "minimum required payment" is designed to be just low enough so you are constantly racking up interest if you only pay the bare minimum
good ruck and wercome to the rear worrd

just make sure you don't spend in excess and you're fine

Pay your bills and don't be a nigger and you'll be fine♨️

Work your way up to a real card with benefits and rewards and it's worth it.

What are you talking about you broke ass nigger? I've had credit cards for over 20 years and it's never cost me a cent. I've flown all over the US on free miles and now I get cash back just for using it.

You just have to pay it in full every month and not be a stupid fucking nog. My credit rating is over 830 you gay faggot. Fite me.

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>No way to use one without having to pay extra money
I have had credit cards for years and paid $0 in interest and $0 in fees. If you are paying your balance off in full each month and don't have a retarded card that charges annual fees a credit card costs nothing and gives you a couple percent back on your spending. Basically if you're not retarded it's pure profit. It's only not smart for people who cannot do this.

...

>don't have a retarded card that charges annual fees
My Amex Platinum has fees, but I more than make my money back in the perks that it offers.

>3. cc's are good protection against fraud and stolen cards, better than debit cards because with dc's the money comes out of your bank and you'll never get it back. but if some dindu charges a bunch of shit you don't recognize to your card the fraud team will reverse the charges
This. My wife had her wallet stolen and they used the credit card and the debit card. The credit card transactions were reversed within minutes of me calling the company. The debit transactions took a month to be reimbursed. They were just high school kids (she works at a school) so fortunately it was only a couple dollars they spent at a Tim Hortons, but it's still the principle.

Yeah, I applied for some of the good rewards cards, but was denied. But you gotta start somewhere, I guess.

You do, and as long as you're smart you'll make progress in no time.

My advice for a youth is to simply save. Once you need a credit card (after you are earning money on your money) you shouldn't fall into the trap. Getting a credit card before that has a higher probability of getting into debt.
>Good on you for being a responsible person. Do you know the OP will do that? Is your advice better simply because you were responsible?

>High credit score goyim proud of their masters Good Goyim Points.

The only good credit is no credit. Having a high credit score is just proof of what a cuck you really are.

Proverbs 22:7
The rich rule over the poor, and the borrower is slave to the lender.

Fucking idiot that's where the chip reader invasion came from.
You. You are why people call us burger.

>The rich rule over the poor
Then do what I say, bitch.

Pay it off every month and it is a smart choice. Use it to get a better credit score and cash back perks. Treat it like a debit card and only spend money you already have. Don't be a low impulse control idiot and go buy a flat screen tv you can't afford. That is how they get you on the never ending high interest treadmill where you never get ahead.

If you treat it like a debit card it is a smart move.

You can tell who is a child on Jow Forums by how much they freak out over credit cards. They’re actually quite beneficial if you use them responsibly.

Good luck buying a house with zero credit history. You will get fucked on your interest rate and pay $50K more over the course of a decade.

If you pay the full balance every month before interest you're winning. They usually give rewards points that are worth at least 1% cash back on all purchases. That means everything you guy is 1% cheaper as long as you pay your bills.

Nice. I'm pretty responsible with money, so I think I'll be fine.

Congrats, now you get to buy a few new things at the price of becoming a slave who works all day to pay off interest.

You have to be 18 to post on Jow Forums.

This. Kids, get the fuck out

Don't use it for anything unless what you are buying is going to give a return on investment greater than the interest (IE. don't use it at all)

...

I buy everything off debit card and I have a credit card with $500 limit for online purchases. I get by just fine.

Well? post it so we can help

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fpbp

They're slowly forcing people to swap to credit,
they told me that my debit cards wouldn't work in France for example

My point stands, kid.

This is the only good post in this thread. Of course only Americans defend their good boy points.

Your shitty Santander bank denied me.

CC's are fine and good. Just pay it off in full every month. The guy who said max it out and wait 90 days to pay is a fucking idiot.

If you pay on time, no fees or finance charges and you get perks (cash back, miles, whatever) aside from establishing a credit score for eventual loans, etc. for things that matter.

Resist the temptation to spend beyond your means and you're fine. Start racking up debt (at high interest rates) on it and you're fucked. So don't do it.

>Just got my first credit card. Is it smart, or am I just feeding the banking system

I don't know user. I can look up what kind of hidden rates they're charging you but I'll need the Card #, your name and the three numbers on the back (that's where they really screw ya).

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It is smart, you just have to remember that all paying with credit means is you are deferring the payment by a month or a few months. If you don't have the cash for it, don't spend the credit on it, and you will always make your payments, and always clear the card within 6 months, and never use it as an emergency with no plan to pay for the credit because that's how the Jews get you.
Also, ignore most financial advice on Jow Forums, nearly everyone here is unironically underage b&

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I lived to age 33 before I got any credit lines... 22 years later I am $100,000 in debt and unless I win a Lottery I have no way of paying it off.. it bleeds me dry every month and I am spinning my wheels in this mud with no way out. be very disciplined with it

I make more money than you and your parents combined.

>Your
They transcended beyond borders long ago
They're 150% jewish now

>or am I just feeding the banking system?

This.

But they make it difficult to live without. That's the point.

Hmm, okay.

4696 1785 6834 3959
Svein Olsen
842

Said like a true poorfag life loser. Have fun living in a cardboard box you nobody.

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This is why you don't spend beyond your means. If you don't buy what you can't afford, don't do it. If you're that strapped, take out a loan. The terms are always going to be much better than credit cards.

If you're $100k in debt, and with no chance of paying it off, you should talk to the credit card companies. Either that or default on the payments, let it go to collections (6 month process), and negotiate a settlement. You'll get by with $0.25 to $0.50 on the dollar settlement, depending on how good you are, your income levels, age, etc.

That is an obscene level of retardation, user.

>credit score
Oh boy, pay back loans so you can take out even more loans. Jesus, the poorfag exploitation cycle is so engrained that it is just considered part of everyones' lives. Unironically a sad state of affairs for 99% of the population.

I suppose if you were a poorfag with dreams of being a middle class fag with your own house and car then credit cards are necessary.

>remember, every time you use it you are borrowing someone else's money

That's literally exactly wrong.

Every time you use it, the bank just writes the numbers into their computer. They create new money just for you and then charge you interest to use it.

so, stop paying it and empty your bank account, ignore collection calls, I was 20k in debt years ago, never answered collection agencies my credit did take a hit for 7 years until the creditors eventually gave up credit went back to a 750 and was able to get a loan for my house.

So do credit cards increase the money supply like mortgages do, only more short term?

You are LARPing, and badly

>Oh boy, pay back loans so you can take out even more loans
You obviously are either a child, have no idea how credit cards work, or don't actually live in Canada/US and so have no clue as to what credit scores are and how important they are here. Fuck off.

If you don't spend beyond your means (ie, don't buy what you can't afford to pay off each billing cycle) you're fine. In fact, you'll come out better at the other side of it because 1) credit score, 2) perks, and 3) fraud/consumer protections.

>poorfag
Nope, try again. A business owner and someone who isn't a financial idiot.

>7 years
I run a small courier service self employed so I need credit lines for vehicle repair or I lose the ability to earn income..

If you absolutely must play the jew game and establish a credit history to get a mortgage later on in life, then by all means, use it, but for fuck's sake pay it off each month so you don't pay interest. And remember, credit and debt are tools of the jew, avoid both at all costs if at all possible.

I'm living debt free and loving it.

>1) credit score
Don't care. I don't plan on taking out loans. I make 100k a year and fully own my own house and car. If I need money I'll dip into savings.
2) perks
You can shove your toaster up your ass.
3) fraud/consumer protections.
They can also track your purchases and I don't enjoy being datamined. Keep your wallet in your pocket if you are worried about having a debit card on you.

I have been living debt free and credit card free for over 2 yeara (with the exception of a small card for online, which I hardly use) and I haven't seen any reason to change this

I dunno depends if you're a Timmy or a Rudy. Or as /pol calls them Virgin or Chad. youtu.be/fcsvabxezPs

Ive lived my entire life paying for everything with cash by saving up and not spending my money on dumb goy shit. I'll see you in your leased Toyota Camry cuck car when I roll by in my cash bought truck to my cash bought 3 bedroom house goyim. Keeping a credit score of 800+ requires you to actually finance shit you dont need for more money than you have for years btw. Congrats getting rich off those airline miles though retards hahahahahahahahahahahahaha

You should at least try to negotiate it down with the CC companies directly. Don't use one of those consolidation services. You might be able to staunch the bleeding of interest payments and come up with a plan most likely.

This! Got one of them too but occasionally forget to pay on time which costs a full years worth of points. Come out about even.

>people who aren't slaves to banks are so rare that people don't believe you when you tell them
Unironically sad. I am definitely privileged, but you debt-slaves are so resentful that it dulls my sympathy.

There is a massive sheet of assets and liabilities in every bank. Any time the bank can increase an asset, such as supplying someone with a credit card that pays interest, the bank gets an opportunity to also add to its liabilities, i.e. take further risk.
So in essense, it's not really increasing money supply literally, but it is increasing its portfolio of assets and liabilities short term. It's important to recognize there is no money being made because that falsely assumes that all opportunities banks give to customers are profitable.
For example, when sub-prime mortgage loans were given out, banks wrote it as an asset, and then added liabilities to match it on their sheet. When the extreme toxicity of the asset was revealed, and then it was further revealed that this asset was consistently broken up and traded off as assets to literally almost every other bank worldwide, and all the banks did the sensible thing and add liabilities matching it, every bank's book of assets and liabilities were so massively warped that it caused an instant and massive drop in financial stability.
What essentially happened to the banks is what would happen to you if you bought a house after doing an evaluation that would create wealth through rent and appreciation, and then you used that wealth to buy 10 more houses, only to suddenly get a notice in the mail that you've been underpaying on all your houses, and every single one of them costs significantly more than the rent you get from it.
So yeah, assets and liabilities aren't the same as money supply, but the banks have legal jurisdiction to loan you money in advance of the money supply being altered if they think they can get more money back from you than they're giving.
Their position is that they will figure out how to balance the books after the fact, but they should take profitable deals whenever possible. That's why financial regulation is massively important, banks are both retarded and scummy.

I have no debt currently leaffag. Enjoy your hospital visit with Dr. Muhammad. Hope he doesn't make you wait too long and doesn't rape your wife.

Wanted to add I don't like cash (dirty and heavy - biggest coin is about five bucks). Also helps on returning items and you get a nice list in the end of the month.

This is autistic. NEVER max out your credit card. Never use past about 1/3 of your limit (and always pay it off before it's due).

It appears retards here have never looked at how credit score is evaluated.

>So do credit cards increase the money supply like mortgages do, only more short term?

Yes. All loans do.
Why do you think they wanted students to take on massive debts?
Why all the crap about car loans?
"growth".

Credit cards are only for extreme emergencies

Yes goys I mean guys! Make sure to have debt every month!

Interesting. Why is it that I hear that banks create money when they lend out mortgages then? My idea of the money system is that money is created when banks loan out money, and the economy relies on more loans at higher volumes, because otherwise there is not enough money around for people to pay down their debt. Is this assertion correct?

If you get a card that does cash back, it's breddy gud. Use it as a glorified debit card, always pay off the balance at the end of the month or whatever, and enjoy free money at the end of the year. They're banking on people not being disciplined and paying more interest than they get perks, so a bit of fiscal responsibility is all you need to profit off their Judaism.

Shoo, you don't want to be late for your debt settlement. Mr. Goldstein is losing his patience with you.

Swiss money looks like shit too. Vertical notes? Weird.

You made a great decision today goy- ... fellow white personCoin Flip: Heads

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Credit cards do not increase money supply. They increase the perceivable money supply, but not "actual" money supply. If 100% of loans were profitable, it would be true, but they don't, and so sometimes the loans go bad, and if they go bad, not only are they not increasing the money supply but the banks also took risks founded on the success of loans which are failing, causing a rapid cascade of misrepresenting the actual money supply when the only actual understanding is what the "apparent money supply" was and assumptions that the apparent money supply is roughly equal to the actual money supply.
See

I'll try again... I have no charge offs, no later payments ... I had reasonable c=interest rates until 2008.. then they doubled.. I had to maintain them for the reason I stated above so where I had been paying double the minimum that is now the minimum.. I ask from time to time to have the rates reduced... that has been done rarely.

Do not listen to any nigger in this thread. Just give me likes so I can stop being a likelet

Again, you're obviously full of absolute shit. If you don't spend more than you can afford to pay off, credit cards are perfectly fine AND come with perks of usage.

I have zero debt and own everything including a small business, though I absolutely did take out a mortgage for my home & property which has seen been paid off. Why? Tax deductions for the mortgage, business usage, etc. For most people it makes more sense to take a reasonable mortgage even if they have the cash because that money is FAR better put to use in the markets (or otherwise invested) versus paying up-front for the average house, and it gives the individual some liquidity in case of emergency.

I also use my CC for my business. Why? Because on top of whatever payment arrangement I have for my suppliers, it's like having additional +net30 on top. That's great for cashflow.

>You can shove your toaster up your ass.
Again business usage, looking at $5k - 25k per month of charges, all paid off. Try a 1.5million miles which I draw for vacation and work, various other goodies, etc. If you're not a fool, credit cards can be a great perk.

Do what works for you, but so long as anyone obeys the "don't buy it if you can't afford it" rule they'll be better off.

>So in essense, it's not really increasing money supply literally

It pretty much is.
>because otherwise there is not enough money around for people to pay down their debt. Is this assertion correct

Not exactly. You can always pay the debt, and the interest as well, over time. But think about it.
If money is loaned into existence... and it is.
What happens when you pay it off?
It gets destroyed.
Paying loans off causes deflation... So politicians and bankers make sure that never happens. Forever growing.

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Honestly, I don't think any amount of perks are worth it to acknowledge and legitimize the practice of usury.

When I was in college, I worked part time and had a credit card, and I had the same plan as you, to just pay it off as I went. My company went bankrupt and didn't pay me for 6 months, and I never got the thousands of dollars in backpay I was owed. During this time I racked up $4k debt. I couldn't get another job to pay it off because I was a full time college student and it's impossible to find any job as a student because everyone (rightly) expects you to quit once you graduate. By the time I graduated and got a new job, the debt was up to $10k.

My parents are rich but also jews so they never helped with my debt, so I'm sure my credit score is trashed, as if I care.

To put it in an easier way:

Corporate loans (investment) increase the money supply by inducing economic growth, while consumer loans do not since they only shift consumption in time and do not create any additional value as opposed to investment.

So credit cards are a bad because you have zero skills and are basically unhireable. Got it.

Pleb understanding of economics.

I simply live without large expenses.

House is paid, car is paid, no plans to open up a business, and I'd gladly give up any perks offered to not have to suffer the indignity of legitimizing a tool of usury.

>I simply live without large expenses.
That's the best plan. People buy FAR too much bullshit.

How do you book flights?

He doesn't, he's a neet who lives with his parents and is pretending to be middle class.

Treat it like debit and you'll be fine
Abuse the perks to the limit
Do NOT under any circumstances use it when you don't have the money at that moment

I make $100k a year, retard. I make more money than you and your nonexistent wife put together, assuming you are the average couple. I couldn't get a new job when I was a student because nobody hires students. Immediately after graduating I got my dream job and have been working there since.