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credit cards for people with bad credit
- Thread starter silasraven
- Start date
Beansly
RIU Bulldog
Well shit... I apparently have a credit score of 560 and if I believe what you guys are saying (which I do), I might as well pick out a nice dumpster plot for the cardboard condo I'll be owning here shortly. I have a lot of medical bills I haven't begun to pay and a student loan that might default soon, but I haven't maxed out a Best Buy card or anything like that. I've made mistakes I know, but (I just realized I'm apologizing for being broke....disgusting......... I digress) I really wanna get on the right track this year. The karma link was a great place to start and now I think Ill try and get a secure CC instead of a pre-paid fucking RUSH card or something. Fuck Russell Simmons. He's got enough money damnit.
Anyone have any practical advice for someone with absolutely no financial skills?
Anyone have any practical advice for someone with absolutely no financial skills?
see4
Well-Known Member
fuck money in my safe, i keep my money in your safe, you just don't know it yet.
Jimmyjonestoo
Well-Known Member
Story of my life man. I have a ton of bills (mostly medical) and I'm terrible with money. I too have no financial skills and would like to hear that advise as well.
see4
Well-Known Member
Best financial advice I was ever given.
Create a budget. Start with a simple budget, then work your way up.
Never spend what you don't have or can't afford the monthly expense.
Use common sense.
Other random thoughts. Break up your budget into necessary areas, like, Living, Food, Travel, Utilities, everything else is extra. Make sure your living expense is no greater than 25% gross monthly income. Make sure food expense are no greater than 5% gross monthly, travel (car, gas, tolls) is no greater than 15%, utilities vary, but should not exceed 10% gross income. If you make $5000/ month gross, your living expense should not be higher than $1250/month, your food should be around $250/month, your utils should be no more than $500, your travel be no more than $750. Using these as examples.
Create a budget. Start with a simple budget, then work your way up.
Never spend what you don't have or can't afford the monthly expense.
Use common sense.
Other random thoughts. Break up your budget into necessary areas, like, Living, Food, Travel, Utilities, everything else is extra. Make sure your living expense is no greater than 25% gross monthly income. Make sure food expense are no greater than 5% gross monthly, travel (car, gas, tolls) is no greater than 15%, utilities vary, but should not exceed 10% gross income. If you make $5000/ month gross, your living expense should not be higher than $1250/month, your food should be around $250/month, your utils should be no more than $500, your travel be no more than $750. Using these as examples.
neosapien
Well-Known Member
The best financial advice I can give is just slowly but surely chip away at the debt. Once you get to 30% debt to credit ratio things will improve and you'll have more options. For the past 10 years I've slowly worked up to 780. I now have a plethora of credit options and a robust history. Make no mistake though, the credit companies want you to fail. The jokes on them though because once I'm ready I'm going to max everything out and disappear to China and live like a wáng. 
Perfextionist420
Well-Known Member
Don't spend more than you make and don't buy shit you don't need, have self control
silasraven
Well-Known Member
i have, but it made me realize without a card im going no where. my name has no wieght, my resume is just a piece of paper. and having some college still dont count for shit. credit card and high name stuff makes up for it when you need it. i value everyones advice including yours but ive come so far with cash to pray and wish to have some wieght to this life by means of a card, and companies backing ass up so when i put out a resume the names resound time after time. credit can be good. ive faced the worst medical shit ever, if i ever hit a hospital again i'll be out in less a day.
Beansly
RIU Bulldog
Stop feeling sorry for yourself man.
I know your story, you got a raw deal for sure, but you're alive and life is beautiful (sorry for going all love guru on you, Marishka Hargitay...). As my mom would say, there are people who have it much worse than you. You could be blind, or deaf, or have down syndrome. Or have AIDS, or cancer, or be burned beyond recognition.
If you really feel that helpless about your financial situation, you could file medical bankruptcy and start over. From what I hear it's not too bad, and if I remember right, you're like 20 or 21 or something so it's not the end of the world.
What ever you do, don't just roll over and die. No one gives a shit about you so if anything is gonna change, you have to do it for yourself.
guy incognito
Well-Known Member
credit cards are fine as long as you pay them off in full every month. I have 3 and I don't have a clue what my interest rate is on any of them because I never pay it. I have missed a payment and got a $15 late fee, but I have more than made up for that with the rewards I get back.