Current Events > I applied for my first credit card.

(+) Yeah! (+)

I still think credit is scam banks came up with.

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Lending money is a scam, but hey. Thats how the world works.
do you get rewards with this card?

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Congrats.

Hardline yourself.

When I got my first one I was like "I'll only need this one card"

I have 5 now.

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I'm 33, had a debit card most of my life.

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They're great for you credit score if you just pay them off every month.

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Well you're paying for it in the price of almost everything you buy regardless of how you feel about it. Might as well use rewards as advantageously as you can in your favor.

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Hell yeah, there's a reason it's the most profitable business model of all.human history.

The banks also have large R&D divisions made to just do experiments on what keeps people spending more without missing payments

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It took me like a year to get a credit card when I started trying to win one, because my bank kept rejecting me for reasons that nobody could really tell me. More than once I made an appointment at the bank only to get "I don't at all understand why you keep getting rejected" until someone finally just said screw it and overrode it.

I still don't get why I kept getting rejected.

Proto_Spark posted...

It took me like a year to get a credit card when I started trying to win one, because my bank kept rejecting me for reasons that nobody could really tell me. More than once I made an appointment at the bank only to get "I don't at all understand why you keep getting rejected" until someone finally just said screw it and overrode it.

I still don't get why I kept getting rejected.

Because you had little to no credit history.

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Pay it off in full each month. Dont spend more than you can afford and what you would have normally spent before having one. All that jazz

Debt isnt inherently something to be scared of, but you just have to know how to manage it before it manages you.

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Lots of scams are just a part of life now, like insurance and the stock markets.

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Ha, I never will do the stock market.

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Cheater87 posted...

I'm 33, had a debit card most of my life.

I'm in the same boat. Always used debit, but I'm going to need to get a credit card since so much essential shit is tied to your credit history.

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Solid Snake07 posted...

Because you had little to no credit history.

doesnt matter, thats what credit cards with a low limit are for. My credit rating was under 500 when I got my first one

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Cheater87 posted...

Ha, I never will do the stock market.

If you have a lot of money to spare it makes sense to buy stocks, even if basic safe ones.

It used to be that you could open a checking account and benefit from interest that way. No longer.

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Cheater87 posted...

Ha, I never will do the stock market.

It's such bullshit but it's one of the few ways one can hope to elevate their wealth, so I end up participating and hoping I don't get burned.

[LFAQs-redacted-quote]

The idea is that historically you'll have ~10% returns per year on average if you invest in the market broadly, but infinite growth is not guaranteed. The conspiracy theory side of me is highly suspicious of this push for everyone to pump as much money as they can into the market. I put money in the market but hold a much larger cash position than what the common advice says I should.

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1337toothbrush posted...

It's such bullshit but it's one of the few ways one can hope to elevate their wealth, so I end up participating and hoping I don't get burned.

The idea is that historically you'll have ~10% returns per year on average if you invest in the market broadly, but infinite growth is not guaranteed. The conspiracy theory side of me is highly suspicious of this push for everyone to pump as much money as they can into the market. I put money in the market but hold a much larger cash position than what the common advice says I should.

that's how crypto feels to me, everyone saying to put money into it is already invested in it

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