Total Motorcycle Community Forums

-Holiday wrote: the only problem with this, is it sounds like you havnt established any credit. That is, unless you're saying you HAD credit cards, and payments at one time, and you paid them off...

my point is having no credit is no good either. Its a good idea to get a low intereste rate credit card, but something you would normally buy anyway, and then pay it off every month, just to establish some credit. Even though high debt and too many credit cards is bad, you still have to show companies (mortgage companies for example) that you have established credit, and that you will pay them back.

I have credit cards, but I pay them off every month so I don't pay interest. I had a car payment, but I paid it off, I had a laptop payment and paid it off (12 months no interest... free borrowing = the win!)

So I didn't say I have no credit.. I just like to pay things off quickly. If I was to buy something on credit, I normally try to get it paid off before interest kicks in (when I'm able to get a deal like 12 months no interest, etc). Can't do it with cars or homes... but everything else has worked just fine.

DivideOverflow wrote:

-Holiday wrote: my point is having no credit is no good either. Its a good idea to get a low intereste rate credit card, but something you would normally buy anyway, and then pay it off every month, just to establish some credit. Even though high debt and too many credit cards is bad, you still have to show companies (mortgage companies for example) that you have established credit, and that you will pay them back.

I have credit cards, but I pay them off every month so I don't pay interest. I had a car payment, but I paid it off, I had a laptop payment and paid it off (12 months no interest... free borrowing = the win!)

So I didn't say I have no credit.. I just like to pay things off quickly. If I was to buy something on credit, I normally try to get it paid off before interest kicks in (when I'm able to get a deal like 12 months no interest, etc). Can't do it with cars or homes... but everything else has worked just fine.

Great advice on how to get a good credit rating started (and to keep a good credit rating too).

I have always tried to pay off my credit card at the end of each month. If you find a good rewards credit card then by paying it off (no interest charges) you will also collect the rewards (money, points, stuff) and it is like the Credit Card Company paying YOU to use their card!

I had a Citi Bank Drivers Reward card for years (you can still get them) and they give you 2% of all your purchases on the card towards a new or used motorcycle, ATV or car. I used the rewards 2 times to buy 1 used and 1 new bike with it. (not the whole amount, but some off).

Mike

Are you guys bored ?????

In a really weird way I miss verm.

pinger05 wrote:In a really weird way I miss verm.

I know, he kinda kept the place hopping. Now, motoF150, that guy I do not miss!!

jstark47 wrote:

pinger05 wrote:In a really weird way I miss verm.

I know, he kinda kept the place hopping. Now, motoF150, that guy I do not miss!!

Boys, don't be messing with The Departed. Nothing good will come of it.

Gummiente wrote:Boys, don't be messing with The Departed. Nothing good will come of it.

Hahahahahahaha