Should I get a Credit Card?

[Chimera]

flow and digicel accounts does also firetruck up your credit rating and you wouldnt realize eh

[zoom rader]

The USD limit is going to be restricted per person so would not make a difference how many credit cards you have with a bank. As is the practice now exceptions are also made at the discretion of the bank (i.e. high net worth individuals and politicians with have much higher USD limits.)

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

The credit card con job

If you can't get credit, for whatever reason, it's really not necessary to to blame everyone else.

The system is designed for you to take out a CC. The credit score only favors banks to keep u in debt.


It's very easy to get a CC, which is a basically a Job and a loan history with ur bank.

CC are designed to trap u in debt. Not spending enough then they increase ut credit limit for that Rolex or Carnival costume that u want. They don't care what u buy, all they want is for u to pay interest.

CC is for suckers .

The best freedom u can have is being debt free

[Mmoney607]

The USD limit is going to be restricted per person so would not make a difference how many credit cards you have with a bank. As is the practice now exceptions are also made at the discretion of the bank (i.e. high net worth individuals and politicians with have much higher USD limits.)

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

Yea and once your credit score goes down, it could never go back up

Why can't it go up?

That was sarcasm because your post was so foolish.

[adnj]

The USD limit is going to be restricted per person so would not make a difference how many credit cards you have with a bank. As is the practice now exceptions are also made at the discretion of the bank (i.e. high net worth individuals and politicians with have much higher USD limits.)

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

The credit card con job

If you can't get credit, for whatever reason, it's really not necessary to to blame everyone else.

The system is designed for you to take out a CC. The credit score only favors banks to keep u in debt.


It's very easy to get a CC, which is a basically a Job and a loan history with ur bank.

CC are designed to trap u in debt. Not spending enough then they increase ut credit limit for that Rolex or Carnival costume that u want. They don't care what u buy, all they want is for u to pay interest.

CC is for suckers .

The best freedom u can have is being debt free

How can you be in credit card debt, if the balance is paid in full every month?

Let's see:
No need to carry around lots of cash.
Money back or travel points on purchases.
No interest to pay because you paid the balance in full.
Purchase protection.
Theft protection.
Accepted around the world - no need to carry foreign currency.

When you pay all of your bills when the bills are due, isn't that being debt free?

[Chimera]

its really a trap that most people easily fall into without realizing

[adnj]

its really a trap that most people easily fall into without realizing

I don't see how anyone can spend more money than they have, and not know it.

[Chimera]

Alot of people get tied up in the minimum payment side of it.

And then when people get into desperate emergencies its very easy to swipe a card for a cash advance not realizing what you doing.

[adnj]

Alot of people get tied up in the minimum payment side of it.

And then when people get into desperate emergencies its very easy to swipe a card for a cash advance not realizing what you doing.

I fully appreciate your perspective, but I do not agree that at any level of desperation do these people have no inkling of what they are doing. It's just a choice that they make.

[snatman]

Partner, if managing a credit card – including paying your bill in full each month and practicing responsible spending – feels like a challenge, you're def not alone. Credit cards are not suitable for everyone, especially if they lack financial discipline, as you seem to. Definitely people without that discipline should not consider credit cards.

But don't assume that others share the same carelessness with their finances. I've had a credit card for ~20 yrs, always paid in full. And the cashback/reward features cover the annual fee. I and many others who manage their finances properly, actually profit by using the card.

The USD limit is going to be restricted per person so would not make a difference how many credit cards you have with a bank. As is the practice now exceptions are also made at the discretion of the bank (i.e. high net worth individuals and politicians with have much higher USD limits.)

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

The credit card con job

If you can't get credit, for whatever reason, it's really not necessary to to blame everyone else.

The system is designed for you to take out a CC. The credit score only favors banks to keep u in debt.


It's very easy to get a CC, which is a basically a Job and a loan history with ur bank.

CC are designed to trap u in debt. Not spending enough then they increase ut credit limit for that Rolex or Carnival costume that u want. They don't care what u buy, all they want is for u to pay interest.

CC is for suckers .

The best freedom u can have is being debt free

[Chimera]

Alot of people get tied up in the minimum payment side of it.

And then when people get into desperate emergencies its very easy to swipe a card for a cash advance not realizing what you doing.

I fully appreciate your perspective, but I do not agree that at any level of desperation do these people have no inkling of what they are doing. It's just a choice that they make.

u doh hadda agree. sheit does happen and people end up in situations

you need to remember this in this country the banks give loans for carnival costumes, people take financing for items from courts and pay 4x the price and island finance have tens of thousands of customers

[j.o.e]

As said above the key is responsible use. The bank only profits when people are irresponsible so it stands to reason that credit cards exist because there are significant amounts of irresponsible users

[adnj]

As said above the key is responsible use. The bank only profits when people are irresponsible so it stands to reason that credit cards exist because there are significant amounts of irresponsible users

Banks make money from credit card use even when those cards are paid in full. This is responsible use.

There is more money to be made from up to date accounts that are carrying a balance. This is also responsible use.

When an account is months delinquent, it is closed, the balance is discharged, and the account is subsequently sold to collection agencies in bulk. The banks lose money. This is not responsible use.

[Chimera]

banks making money on credit card transactions

3 to 4 %

i don't take credit card because of that

on a $4000 transaction i losing $160, plus credit card takes several days to credit to my account and credit card customers have up to a year to dispute a transaction and the bank does lean on their side most of the time

[mero]

@adjn Banks barely any money from up to date total payment padna.

The point of a credit card is credit. It's a credit line they give you that is basically a loan. Once you don't pay off your card in full by the due date, Interest is incurred. Only money a bank can make from you on a cc if its the yearly membership fee, which part of goes to visa or mastercard.

All them big business men and rich boys who get high like credit card and pay off their payments in lump sums on time benefit the most from the bank cuz they get plenty miles/cash back and rewards and NO finance charges

Its the average Joe by the many who make the majority of money for the bank on late charges, finance fees etc.. Telling the average joe to simply pay off their total every month defeats the purpose of it cuz most ppl need a cc and are running down the bank for one as opposed to the bank begging you to take a card. Cc is basically an easier loan to get

[The_Honourable]

Fully agree with mero and joe. Zoom's point holds for persons who are not disciplined financially.

Credit card debt is an easy trap to fall into especially if the bank keeps increasing your limit and you don't request a reduction. You mean well in the beginning, paying everything off before the due date then something happens financially where you can't pay everything off such as losing your job or financial irresponsibility during good times that now caught up with you. Next thing you're in a hole and fighting to get out, and while you're fighting the bank charging you interest per month.

If debit cards were fully unlocked to do online transactions, many would not want a credit card.

[adnj]

@adjn Banks barely any money from up to date total payment padna.

The point of a credit card is credit. It's a credit line they give you that is basically a loan. Once you don't pay off your card in full by the due date, Interest is incurred. Only money a bank can make from you on a cc if its the yearly membership fee, which part of goes to visa or mastercard.

All them big business men and rich boys who get high like credit card and pay off their payments in lump sums on time benefit the most from the bank cuz they get plenty miles/cash back and rewards and NO finance charges

Its the average Joe by the many who make the majority of money for the bank on late charges, finance fees etc.. Telling the average joe to simply pay off their total every month defeats the purpose of it cuz most ppl need a cc and are running down the bank for one as opposed to the bank begging you to take a card. Cc is basically an easier loan to get

In other words, banks make money from cards with no statement balance.
Banks make more money from cards that carry a balance.

Thanks for clearing that up by restating what I just posted.

[pugboy]

thread take a detour

[st7]

i feel zoom get ketch in the 'con' cause he constantly repeats it over and over. if iz not that, iz red government

[MaxPower]

How allyuh surviving??

Bull with mortgage/rent
Bull with 10 year car loan
Bull with CC
Bull with family/living expenses
Bull with insurance


How much people really saving a month?

[paid_influencer]

is the big, unexpected things that does lick up people.

medical problems
flood
accident & disability
child birth complications

all dem chit could wipe out bank account and bury you in debt before you even see the bills

[adnj]

is the big, unexpected things that does lick up people.

medical problems
flood
accident & disability
child birth complications

all dem chit could wipe out bank account and bury you in debt before you even see the bills

Unless the flood is from a dam breaching, that's your own fault.

[gastly369]

How allyuh surviving??

Bull with mortgage/rent
Bull with 10 year car loan
Bull with CC
Bull with family/living expenses
Bull with insurance


How much people really saving a month?

Can see dem on the socials often easy to make out...

[zoom rader]

its really a trap that most people easily fall into without realizing

I don't see how anyone can spend more money than they have, and not know it.

Americans House holders are in debt by 6k US

https://www.nerdwallet.com/article/cred ... -household

[zoom rader]

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

The credit card con job

If you can't get credit, for whatever reason, it's really not necessary to to blame everyone else.

The system is designed for you to take out a CC. The credit score only favors banks to keep u in debt.


It's very easy to get a CC, which is a basically a Job and a loan history with ur bank.

CC are designed to trap u in debt. Not spending enough then they increase ut credit limit for that Rolex or Carnival costume that u want. They don't care what u buy, all they want is for u to pay interest.

CC is for suckers .

The best freedom u can have is being debt free

How can you be in credit card debt, if the balance is paid in full every month?

Let's see:
No need to carry around lots of cash.
Money back or travel points on purchases.
No interest to pay because you paid the balance in full.
Purchase protection.
Theft protection.
Accepted around the world - no need to carry foreign currency.

When you pay all of your bills when the bills are due, isn't that being debt free?

Only about 1% of ppl are in this class.

CC companies will keep increasing ur credit limit until they find ur sweet spot where u have to pay interest and can't afford to pay off in full.

Most folks are comfortable with 1k US cause it can be managed, but if they raise it 10k and u see that gold chain u want which u maxed our ur card. After of which u get caught up and end up in a debt trap.

Everyone that gets a new first time card always say they can manage it. Give them 2 Yr plus and they struggling to pay interest rates. This is a worldwide problem.

All that u quoted is marketing strategy designed to get u sucked in to debt. All sounds good on paper buy they happy u have to pay interest.

CC is for Suckers

[zoom rader]

Partner, if managing a credit card – including paying your bill in full each month and practicing responsible spending – feels like a challenge, you're def not alone. Credit cards are not suitable for everyone, especially if they lack financial discipline, as you seem to. Definitely people without that discipline should not consider credit cards.

But don't assume that others share the same carelessness with their finances. I've had a credit card for ~20 yrs, always paid in full. And the cashback/reward features cover the annual fee. I and many others who manage their finances properly, actually profit by using the card.

They could get a card from another bank

After the credit card application is completed, they run a credit score on you with Transunion. The report shows all your previous and active credit facilities. So if you have a credit card at one bank and you think that is just to get another card at another bank, it's not that easy and will only allow you if they see you are managing all your debt properly (no defaults, no delinquent debts, paying on time, and especially your income is much higher than your expenses).

You can beat the system a bit if a family member you trust (and also trusts you) applies for a CC.

Just drop the limit on the republic card so you only at the US limit of 5000 then apply for a credit card elsewhere for the other 5000 that was cut

Drop your credit limit - lower your credit score.
Close a credit card - lower your credit score.
Increase your credit utilization rate - lower your credit score.
Apply for new credit - lower your credit score.

The credit card con job

If you can't get credit, for whatever reason, it's really not necessary to to blame everyone else.

The system is designed for you to take out a CC. The credit score only favors banks to keep u in debt.


It's very easy to get a CC, which is a basically a Job and a loan history with ur bank.

CC are designed to trap u in debt. Not spending enough then they increase ut credit limit for that Rolex or Carnival costume that u want. They don't care what u buy, all they want is for u to pay interest.

CC is for suckers .

The best freedom u can have is being debt free

99% of people can not manage a CC nor have financial responsibility.

The mere fact that u took out a CC shows u don't understand financial responsibility.

[zoom rader]

@adjn Banks barely any money from up to date total payment padna.

The point of a credit card is credit. It's a credit line they give you that is basically a loan. Once you don't pay off your card in full by the due date, Interest is incurred. Only money a bank can make from you on a cc if its the yearly membership fee, which part of goes to visa or mastercard.

All them big business men and rich boys who get high like credit card and pay off their payments in lump sums on time benefit the most from the bank cuz they get plenty miles/cash back and rewards and NO finance charges

Its the average Joe by the many who make the majority of money for the bank on late charges, finance fees etc.. Telling the average joe to simply pay off their total every month defeats the purpose of it cuz most ppl need a cc and are running down the bank for one as opposed to the bank begging you to take a card. Cc is basically an easier loan to get

X2

[zoom rader]

@adjn Banks barely any money from up to date total payment padna.

The point of a credit card is credit. It's a credit line they give you that is basically a loan. Once you don't pay off your card in full by the due date, Interest is incurred. Only money a bank can make from you on a cc if its the yearly membership fee, which part of goes to visa or mastercard.

All them big business men and rich boys who get high like credit card and pay off their payments in lump sums on time benefit the most from the bank cuz they get plenty miles/cash back and rewards and NO finance charges

Its the average Joe by the many who make the majority of money for the bank on late charges, finance fees etc.. Telling the average joe to simply pay off their total every month defeats the purpose of it cuz most ppl need a cc and are running down the bank for one as opposed to the bank begging you to take a card. Cc is basically an easier loan to get

In other words, banks make money from cards with no statement balance.
Banks make more money from cards that carry a balance.

Thanks for clearing that up by restating what I just posted.

Yes Banks make money whilst those that have CC pay interest.

CC is for suckers

[zoom rader]

i feel zoom get ketch in the 'con' cause he constantly repeats it over and over. if iz not that, iz red government

No son,

I have family & friends that got caught with the CC con. I saw how their lives turned in misery owning CC debt. One had to sell his ranger just to pay off a 100k CC bill.

I did tons of research on CC and found out super rich folks don't use CC.

[zoom rader]

The USD crunch seems real, had a guy book a room at the Hyatt a few weeks ago and he offered the taxi drivers 8:1 on $USD, he was able to buy $35K in a couple hours

wda he would do with 35K in usd cash tho

cyar put that amount in the bank (bank would seize it pending investigation)
cyar cross the border with it (customs would seize it)
cyar pay any legit places with it (they would have the same problem as above)
cyar spend it here either

so what is the point, unless is some serious black market scene to buy guns or cocaine or young girls from the mainland

It's easy to ship money, most folk that want to remain under the radar. Buy gold and resell to which ever country they going to.

[zoom rader]

For all those Idiots who say they use CC and pay off my bills and get free flights ect .

Watch the clip

https://youtu.be/hR8ul1CIKVo?si=6ErIMvDgZThRMscO