Jan White wrote:I did what Trace describes. When I was 19 I got my first utility service in my name. I had to pay a deposit based on the average monthly bill the last person at that address paid. I think it was about $400. We were never able to figure out what they were doing to even use that much gas.
When they told me I had to pay the deposit because I had no credit, I immediately got a credit card and started using it for my regular purchases. When the bill came, I paid it with the money sitting in my bank account I never spent cause I was using the credit card. No interest. I have no idea how long it took to build up my credit score, but I never had to pay a deposit on anything again. And I was never in debt once.
I was very happy to have my good credit when we bought our property. Without being able to get a loan we would probably still be saving- and would have missed out on the amazing deal we got on this place. By getting a loan we were able to move onto our property right away, reduce our cost of living, and pay off the loan quicker than we would have been able to save the same amount of money. And we're living a better life on our property than in a rented place.
I worked in hotels for ten years. Hotels hate cash deposits and only lower end ones will take them. This might be more common in Canada than the US, cause a lot of American guests tried to pay cash and were surprised when we wouldn't take it. Sometimes we'd make an exception for regulars or someone you got a good vibe off of and took pity on. There is no discount for paying cash. Sometimes we'd say there was,but it was just the standard knock off a few bucks to get them in the door discount. Would be the same discount for anyone who tried to haggle, regardless of how they paid.
I've also worked in a few retail positions, some small family run businesses. I currently work in what could i suppose be called a service industry, also family run. At none of these places were there discounts for cash payments. If you pay cash the business's overhead is the same, apart from card fees which are factored into the prices anyway. Giving a discount on cash purchases is just money out of the boss's pocket. I think they'll soon disappear altogether.
Rufus Laggren wrote:
Cash pretty much has to always cost the vendor more than a card transaction. We're lucky anybody still takes cash. Card transactions, the whole thing is swipe/done by the banks who spit out monthly reports with totals to match with the POS records. No counting, no bank visits, no cash risks, no "shrinkage", no looking for a register person who can actually _count_!
Marco Banks wrote: If someone uses your debit card and cleans out your bank account, you're SOL.
Dale Hodgins wrote:This isn't so much about credit score as about how some people view credit score.
Often, I have heard it mentioned by those who are very concerned , that they have a very good credit score, while someone else has a very bad one. It can be a form of one-upmanship.
Expressed in the most simple terms, high credit scores are for worthy people and low credit scores are for unworthy people. That's how I've heard it being discussed, although I think that dropping out of the credit market altogether can be very good. Still, there are those who see it as a measure of success to have this credit score and a measure of failure, to have a bad score or a non-existent score. Knowing this, it's up to me to decide if I care what those people think.
And it's not just people, it's machines. I'm sure that there are people and machines, who would look at my almost non-existent credit history, and decide that because of this, I am an inconsequential person who does not matter. That's an unfortunate thing, but I think it's realistic. I don't need their money, so it doesn't matter much to me.
To me it's like the adherents of a certain philosophy being all concerned that I'm headed down the road to ruin, when I don't believe in what they are selling. People who have bought in heavily, get very concerned, when others don't share the same values and therefore don't aspire to the same things. We accept that when it comes to various philosophies. For some, opting out is a rejection of everything they hold dear, so they are not necessarily willing to accept that other people will do this, or that they don't put value on this thing that is very important to them.
Ryan Hobbs wrote:
The trick to a great credit score is to pay your cards down but not completely off.
r ranson wrote:Privacy issues and credit cards are fun to think about. That's why I mostly pay with cash and don't have a cellphone.
But there are also ways to play with this. My credit card cannot distinguish between types of purchases. We have one company here that sells heating fuel for houses and groceries (not at the same location). My CC thinks I spend a lot of money on fuel when I'm really buying food.
Rodney T. Russell wrote:The credit system is debt slavery, I withdrew my consent from this corrupt system about 10 years ago, got out of all debt. I do not use credit nor do I use plastic. Cash only and I am trying to live with out that system of control as well.