| big baby |
06-08-2014 02:09 PM |
Mode: Aerolina
Credit Cards are rewarding if you know how to use them. I'd like to give you guys a lesson one day. It's not a magic plastic card. It has financial terminology that will probably baffle you.
1ST RULE: Never pay your minimum balance. You a baller? Pay that shit in full. You bought some extravagant shit and can't pay it off? Enjoy the debt, the horrible FICO and your inability to buy anything decent in property. Have fun paying off a landlords debt. OR making him richer, since he probably long ago payed it off.
2ND RULE: No limit? No problem! Wrong. Well, this is null since most of you can't even get a 300$ credit line. But, for some reason, say my advice helps you out and you become a alpha male champion. Want to spend a fortune?! Go right on ahead buddy! until you realize that there is a monthly balance limit of $5,000 on your account. No limit cards are really “no preset limit” cards, meaning the limit is based on your own spending habits.
3RD RULE: Dont be late with payments. Unlike drug dealers, they won't kill you. But you wish they would have. Late payments show up when you try to apply for anything and can affect you, even one late payment. Late once? Your car dealer will see that and maybe deny you cause you're an irresponsible faggot. Pay early, pay on time.
4TH RULE: Things are getting trickier. I know you guys make minimum wage and don't possess an innate ability to process certain things. Let payments show up. Pay orderly, and schedule payments. Interest rate can kill you if you let it. For example, I did a quick assessment to teach one of my apprentices a few things in real time. I financed an entertainment system. Let's say the figure is about 1,500. Certain financing cards have a set amount delegated in ratio to cost amount. Don't have 1,500 off hand? Financing card. But read how it works. Some cards offer 6/12/2 year ratios and intervals inbetween based on how much your purchase is.
5TH RULE: Do the math. Making payments? Do the math. Make sure what you have is in the bank or attainable by a due date. Unforeseen events come up? Pay your stuff off. Never, I mean never pay off a credit card with another credit card. This already shows you have horrible spending habits, and you're just forestalling a amount of debt you already have. The only time I would suggest this is if you're 2000000000000% certain you will run into money. which you won't, probably cause you're fucking pathetic.
6TH RULE: Equity. Yeah. Your 200 dollar credit line? Dont' spend all the 200 dollars. Banks measure how responsible you are. They give you an illusion of free money and you take the bait cause you're a faggot. Dont take the bait. If you need a legend, spend about 35% of your credit line. This drastically improves credit score moreso than if you were to spend 100% of you credit line. I would get into it, but just take my advice and shut the fuck up.
Theres about 30 more rules, but these are the basics. Don't be late. Don't be poor. Don't be yourself. Think like me. You'll succeed.
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