**Dfw Credit Card Gurus....advice needed**

[Denny]

one of my good friends started using an amex to order his company's raw materials. He's stacking up points like mad, and he gets between 1 and 3 percent discount from his vendors for paying up front.

Forrest will buy a F250 from a guy in passing at a Walmart parking lot.

[Denny]

you should take him up on his offer for lunch

he's an interesting dude

I still would. I'd buy his beer even though he can buy my world in a heartbeat. I'm just not on his side of town always.

[quikag]

I use credit cards every day for the protections and rewards available. Pay the balance off every month and it's easier than using cash with some perks as a bonus.

On the debt leverage side, it's powerful but dangerous. You have to know what you're doing. I'm personally not a big fan for personal debt for anything besides a house. I don't like car payments, so even if it's free money (0% loan), I don't like seeing the payment every month. Better for me to pay cash and just enjoy the car.

Of course, everyone has different opinions, but those are mine.

[Gasser64]

You always hear that using it, and paying it off every month, makes your credit score shoot up. Anyone here tested this?

[8mpg]

A credit card is a very useful device for your everyday purchases. It gives you some level of security, the ability to buy online, tracking and consolidation of your expenses. But it's NOT meant for financing. If you pay your bill every month, you'll never get in trouble.

At this point in my life, I only finance houses - although if someone is offering 0% financing, I will use that sometimes, as borrowing someone else's money for free, leaves my cash to earn money in my portfolio. I always keep $10K-$15K in my checking account for emergencies, or quick cash deals (like Forrest pointed out). The rest is in long terms investments.

svo pays cash for online purchases

[Denny]

You always hear that using it, and paying it off every month, makes your credit score shoot up. Anyone here tested this?

Yes

[bluecollar]

Yes

I've heard that if you don't use it...you lose it. Is that true?

fuck you if you don't get the 40yr old virgin reference

[Denny]

I've heard that if you don't use it...you lose it. Is that true?

fuck you if you don't get the 40yr old virgin reference

Nice!

[Gasser64]

Yes

Results? Good, bad, or ugly?

[Denny]

Results? Good, bad, or ugly?

Not sure, but it has benefitted my score, as there isn't much reporting to the credit bureaus on my behalf.

[svauto-erotic855]

I guess I won't admit that I usually have around 10k on me at all times.

Good deals usually don't take credit cards.

That is kind of the reason I keep cash on hand; for bail money too.

svo pays cash for online purchases

Odd that you mention that. I frequently use prepaid cards for personal purchases; I got 3 of them this morning. Are you stalking me?

[svauto-erotic855]

This just in: SVO has a huge net worth, is a 1%'er, has hundreds of thousands in credit limits, but doesn't know what is or how to leverage money.

Seems legit.

I'm broke as fuck and I can come up with 10k in less than 24hr. Who gives a fuck?

I am not in the 1% for net worth. I thought that I may be but someone here popped my bubble concerning that. Still don't have a solid number as to what it will take to be that 1% but I ain't it. I only have one card with a 100k + limit and that was given to me without asking from my bank; I guess that the bank wanted a piece of what I was buying every month. Trust me; I would prefer not to have to spend that much but it is the cost of doing business.

[chronical]

I am not in the 1% for net worth. I thought that I may be but someone here popped my bubble concerning that. Still don't have a solid number as to what it will take to be that 1% but I ain't it. I only have one card with a 100k + limit and that was given to me without asking from my bank; I guess that the bank wanted a piece of what I was buying every month. Trust me; I would prefer not to have to spend that much but it is the cost of doing business.

Which card is it and I'll tell you if you at lying or not

[svauto-erotic855]

Which card is it and I'll tell you if you at lying or not

Ink

[bluecollar]

Shit if we can count the money and credit associated with our businesses then I'll play.

Even though I own it, I still don't consider all of it as just "mine". I have to leave x amount in the business account to appease the OCCC. Do I have acces? Yeah, but I would have to show where that money went in the system. i know some people dip into their business funds and work the books to make everything a-ok but that's just not my style.