Pemalite said:
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.
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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.
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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.
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There are only itnerest rates and fees if you don't pay it off at the end of the month.
Which is pretty easy to do if you get a low limit card and pretend it's a debit card.
As for the rental scenario you are talking about.
The Rental company makes money off you. Far more then it would cost if you had just bought a PC outright. Hence why they are a buisness.
