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/biz/ - Business & Finance

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13450973 No.13450973 [Reply] [Original]

>730 credit
>always solvent
>get first credit card
>600 dollars debt
>$-170 checking balance

Should I pay this shit off next payday and never look back?

>> No.13450996

>>13450973
Credit cards are for emergencies, not luxury

>> No.13451002

>>13450973
I charge daily to my card and pay daily on my card so I literally never have a balance and am always getting free points/$.

>> No.13451045
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13451045

>>13450973
OP, follow my instructions because they'll change your life:
>create an account on mint.com
>link your bank account, credit card account(s), any loans/leases you have, any investment accounts
>set your credit card to automatically pay the full statement balance every month
>every day, log in to Mint and check whether you have more money in your checking account than debt payments
>decrease your spending and increase your earnings until you always have more money in your checking account than debt payments
>congrats you are a financial boomer

>> No.13451051

>>13451002
This was my plan but I got hit with unexpected bills and felt extra flexibility I'm looking to buckle next few checks

>> No.13451059

>>13450973
>>13451045
once you're out of debt and you start having excess money in your bank account relative to (full statement balance) credit card payments you keep paying, then you move the excess money into a brokerage account and invest it in stocks.

Keep doing this until you have at least six figures saved and then you can consider buying a house if you don't plan on moving for at least 10 years.

Then you are a bona fide, real-deal boomer.

>> No.13451078
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13451078

>borrowing money

>> No.13451089

Never, EVER have credit card debt carry over.

>> No.13451103

>>13451045
Checking it out now man f-this shit luckily I have okay income

>> No.13451130

>>13450973
I pay everything I bought on credit off the next paycheck I get

>> No.13451133

>>13451089
No interest first year, I see how I could get very fucked fast

>> No.13451177

>>13450973
>>13451133
Pay it off within the year and you're fine. 0% intro offers are good for unexpected bills. Just pay it off asap.

>> No.13451277

>>13450973
Being this pleb? Id your parents are white and didnt teach you this shit youre not white after all. The answer is to not close the account but pay in full before the grace period. Also never go over 25% of your available credit. Better venmo me fag. Niggers would kill for that information.

>> No.13451491

Is this what /biz/ is? I'm a fucking banker I don't want to see this shit every night

>> No.13451619

>>13450973
>Max out credit cards and take a 50k loan
>Have 200k in unsecured debt
>Have 150k in savings account
>Negotiate with creditors for 2 years
>They settle for 25k
>MFW I made more profit than your good goyim gift card pocket money will ever make
>Credit score is still above 650

>> No.13451688

>>13451002
exactly. credit cards are amazing. SOME people simply can't manage their finances, which is their own fault, not the CC company.

>spend 10,000 w/Debit - ZERO points/miles/anything
>spend 10,000 w/CC - FREE points/miles/anything

this is how simple it is.