25 years old and deep in debt

[garbon]

Or you could just make purchases on your credit card(s) that you could already afford to pay.

Or you could just make purchases with cash.  Last I heard, there's no interest charged to do that.

And develop no credit. Besides it isn't like you have interest if you pay off your monthly balance.

[CountDeMoney]

And develop no credit.

Call it what it is: debt.

[garbon]

Not really.

[Valmy]

Not really.

Yes it is.  The FICO score is a: I love debt lots and love to be in it as much as possible score.  I will never understand why this is considered a mark of excellent responsibility.

[Valmy]

Or you could just make purchases on your credit card(s) that you could already afford to pay.

Yes I am going to take out a super high interest loan unnecessarily!!111

So responsible, hire this person immediately!

[HVC]

Credit scores, at least in Canada, scores how well you pay off debt. Low debt with consistent payment= High score. Just having more credit available without taking the debt lowers your score. I got a line of credit (untouched) and I went down like 15 points.

[HVC]

There is nothing wrong with responsible credit card use. Racking up the purchases and paying off the minimum is not responsible use.

[Neil]

Not really.

Yeah, you can't really call it a debt.  Maybe a debt record, but if you're paying it off, it's not really debt.

[Neil]

Credit scores, at least in Canada, scores how well you pay off debt. Low debt with consistent payment= High score. Just having more credit available without taking the debt lowers your score. I got a line of credit (untouched) and I went down like 15 points.

Yep.

[DGuller]

Not really.

Yes it is.  The FICO score is a: I love debt lots and love to be in it as much as possible score.  I will never understand why this is considered a mark of excellent responsibility.

I've never had debt not paid off immediately until I leased my car, and my FICO score has been consistently near 800.

[Maximus]

Capitalism = Bad according to CdM

Paying interest for the sake of interest = Bad according to Augustine
Paying money to someone to use money = Bad according to Aristotle

So go fuck yourself, you stupid fucking Wall Street nigger bitch.

What do they know? They lived in a different world.

That having been said, I am disinclined to play the credit game, but if I took a stand it would be my family that suffered.

[Malthus]

Strangely, as far as I know, my credit score has never mattered to me in any way. Maybe it did out of my knowledge. I have no idea what my credit score is.

[merithyn]

And develop no credit. Besides it isn't like you have interest if you pay off your monthly balance.

And that barely helps your credit. In order to build credit, you have to carry a balance and pay monthly. To pay it off each month doesn't help your credit much at all.

[DGuller]

And develop no credit. Besides it isn't like you have interest if you pay off your monthly balance.

And that barely helps your credit. In order to build credit, you have to carry a balance and pay monthly. To pay it off each month doesn't help your credit much at all.

Not true at all.

[merithyn]

And develop no credit. Besides it isn't like you have interest if you pay off your monthly balance.

And that barely helps your credit. In order to build credit, you have to carry a balance and pay monthly. To pay it off each month doesn't help your credit much at all.

Not true at all.

Absolutely true. If your score is high, it has little to do with you paying your credit cards off each month and probably everything to do with a car loan (debt), a mortgage (debt), or a student loan (debt) that you've carried and paid on each month.