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Personal Finance and Investing

Marthe48

(21,308 posts)

4. It's a labyrinth

Reply to stopdiggin (Reply #2)

Wed Jul 2, 2025, 05:47 PM

Jul 2

I hear warnings not to sign up for credit cards at the check out, but then I hear the more credit you get, the better your credit score. I try to use cash when I can because money is easier for local businesses, their employees and all to get it working for them faster.

I decided probably 20 years ago to keep my finances as simple as possible, so I could keep track of everything.

Thank you.

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I have a question about something, please [View all] Marthe48 Jul 2 OP

One explanation is that if you don't have a loan, you do not generate a record of payments question everything Jul 2 #1

I had friends with no credit score Marthe48 Jul 2 #3

That is true for not having any loan. The loan in question, seems to be a personal or maybe auto loan. 3Hotdogs Jul 2 #5

It was a car loan Marthe48 Jul 2 #8

Paying it off, had a more important benefit: You stopped paying money to the car loan company. 3Hotdogs Jul 2 #10

My grandfather once told me that paying interest (or rent).... lastlib Jul 3 #13

I use my credit card for gas Marthe48 Jul 3 #14

more accounts (that are active, paid regularly and on time) stopdiggin Jul 2 #2

It's a labyrinth Marthe48 Jul 2 #4

That is because the company gets to ding the merchant. And better, if you don't pay it at the end of the month, they 3Hotdogs Jul 2 #11

Your credit score is opposite of any common sense. You pay your bills it goes down, you doc03 Jul 2 #6

I have trouble with cash payments - actually I prefer to pay cash, but progree Jul 2 #7

My ATM offers 20s and 5s Marthe48 Jul 2 #9

Me? I go to TD bank on the first or second of the month. I withdraw $50 in 1's, 360 in. 10's and 3Hotdogs Jul 2 #12

You're making the cards work for you Marthe48 Jul 3 #15