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Capital One took money out of my bank account without authorization...


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#31 KSpan

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Posted 05 March 2013 - 10:16 AM

Thats solid. But as a 21 year old, I can tell you its much more difficult to build credit in the first place than it is to maintain. Got to play the game at some point or you wont be qualified to get a car/ home loan when you need it

Also, I'm pretty sure your credit score takes a penalty if you have no credit cards (or too many)


Appreciate the compliment but I'm only 29, meaning I stopped using it when I was 23, and only had 1 card with a $1000 limit and paid it off monthly when I did use it. There are fairly easy ways to get things like cell phone bills and the like reported to build "credit" without playing the credit card game, they're just not profitable for the credit industry and thus not very well known.

#32 Jase

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Posted 05 March 2013 - 10:20 AM

Call Peggy.

#33 ARSEN

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Posted 05 March 2013 - 10:25 AM

I got 4 different credit cards and some offer 5% on flights and hotels, gas and grocery shopping. So I have to spend $20,000 and not $50,000 like u stated.

#34 KSpan

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Posted 05 March 2013 - 10:29 AM

I got 4 different credit cards and some offer 5% on flights and hotels, gas and grocery shopping. So I have to spend $20,000 and not $50,000 like u stated.


Again I don't know the full situation, but the thought of having 4 dfifferent cards/banks in my life makes me cringe. I still bet that my general spending and cash savings gets me to your $1000 mark, and even if not my the value of my time and not spending it dealing with card companies and thier associated risks and headaches more than makes up the difference.

#35 ARSEN

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Posted 05 March 2013 - 10:42 AM

$1k in rewards not including general savings. I do not deal with credit card companies. Its simple. I got email from Chase "gas and groceries 5% back for next 3 months". I use chase card for next 3 months. Gotta pay my utility bills, taxes and etc I used Capital one because u get 1.5% on everything. Take 3 seconds to schedule a payment online. Why say no to free money?

#36 MadHatter

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Posted 05 March 2013 - 11:13 AM

Hatter, you're very sheltered.


Please enlighten me on how I am "very sheltered" ole socialist one.

You have not met me....know nothing about me....know nothing about my family.

This should be entertaining.

#37 MadHatter

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Posted 05 March 2013 - 11:16 AM

Again I don't know the full situation, but the thought of having 4 dfifferent cards/banks in my life makes me cringe. I still bet that my general spending and cash savings gets me to your $1000 mark, and even if not my the value of my time and not spending it dealing with card companies and thier associated risks and headaches more than makes up the difference.


Really not much to deal with if you are disciplined. The risks and headaches that you refer to are user created. Use the card and pay the bill at the end of the month....and there are no headaches.

If you combined the cash back from the cards ALONG WITH your general spending and cash savings, you would be at a $2,000 mark.

Using the cards correctly can be financially beneficial. But, as some have said, doing it without the discipline of paying everything off every month could be a huge mistake and tragedy.

#38 ARSEN

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Posted 05 March 2013 - 11:23 AM

I'm an accountant. Managing 4-5 credit card accounts is nothing to me.

#39 ARSEN

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Posted 05 March 2013 - 11:24 AM

MH sheltered?lol U should see him on tailgates... Totally opposite from sheltered...

#40 Happy Panther

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Posted 05 March 2013 - 11:24 AM

This is just like people who think it is a good idea to be getting a tax refund. Dumbest thing you can do with you taxes. you just gave the gov't your money interest free.


Forced savings for some people may outweigh the interest lost (which is tiny these days.)

#41 Cary Kollins

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Posted 05 March 2013 - 11:57 AM

I'm an accountant. Managing 4-5 credit card accounts is nothing to me.


Yeah a good friend of mine who is a CPA tried to explain to me how I need to sign up for all these credit cards to reap the air miles. It flew right over my head and I just signed up for a Venture card lol.

#42 Delhommey

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Posted 05 March 2013 - 01:33 PM

Please enlighten me on how I am "very sheltered" ole socialist one.

You have not met me....know nothing about me....know nothing about my family.

This should be entertaining.


Fair enough.

You're either posting in character or you're sheltered.

#43 MadHatter

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Posted 05 March 2013 - 05:35 PM

Forced savings for some people may outweigh the interest lost (which is tiny these days.)


Absolutely...if you don't have the discipline to save, then you are better of getting a refund. But with discipline you are still better off owing.

I just direct deposit a portion of my paycheck (the expected under witholding) into a separate interest bearing account. That way, i don't even miss it. Don't make much from it, but I would rather me make an extra $1k than the gov't.

#44 KSpan

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Posted 05 March 2013 - 08:33 PM

Really not much to deal with if you are disciplined. The risks and headaches that you refer to are user created. Use the card and pay the bill at the end of the month....and there are no headaches.

If you combined the cash back from the cards ALONG WITH your general spending and cash savings, you would be at a $2,000 mark.

Using the cards correctly can be financially beneficial. But, as some have said, doing it without the discipline of paying everything off every month could be a huge mistake and tragedy.

I'm an accountant. Managing 4-5 credit card accounts is nothing to me.


I've done it both ways and see zero reason to bring a middleman back into my finances. $1000 a year, likely significantly less for me, simply isn't worth the possible hassle, and I have no interest (pun intended) in playing a game with a deck stacked against the customer.

#45 Anybodyhome

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Posted 05 March 2013 - 08:40 PM

Capital One:
"What's in your my wallet?"


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