What's your credit card and why is it best for you?

[Pemalite]

Kasz216 said:

Pemalite said:

You don't need a credit card to build up a credit rating.
Go to a place that "rents" something like Laptops and Televisions, pay a few bucks a week and you start to build on that credit rating.

I have no credit card, I use debit, I also have a very good credit rating to the point where I can buy a brand new car or home tomorrow if I wanted.
But that leaves me with less disposable income.
Also banks usually take how much you earn into account when giving you a loan too, the more you earn the less risky the endeavor.

Yeah... but then your getting ripped off by renting shit you could be buying.

Just using a credit card like a debit card is the easiest way to build credit, and the one that won't screw you over.

I mean you can get credit cards with limits as low as 500-1,000 dollars.

Use it just like you would a debit card... and it's easy.

Depends on the situation.
I save allot of money, so I always have cash in the bank, I don't need the debt.
Credit cards have interest rates and fee's attached over here thus it's an added cost that being a little bit thrifty can avoid.

However renting stuff isn't always a bad thing, if you rent a computer you can then swap it for a new one in 12 months time whilst continuing to pay the same rental price. (The company makes it's money by selling the old machine refurbished.)
I used to do it when I was a teenager back when PC's were developing stupidly rapidly. (I.E. Unheard of running a game at max settings for 2 years.)

At the end of the term you are usually given an option to buy it out.

I still don't like either option, but when I was a teenager, I was only making 30 grand a year, so it helped to rent to get myself set-up.
These days if I don't have the cash I just don't buy it, but that's a very rare occurance.