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Old 03-07-2011, 12:08 PM
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DavidBibby DavidBibby is offline
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Join Date: Jun 2010
Location: Palm Bay, FL
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Default Re: First credit card- good for credit rating??

Quote:
Originally Posted by KatherineLee88 View Post
I think it's too cautious of a stance to take. It's a decision that I think could hinder your ability to accumulate even greater net worth. I'm sure the person I talked about earlier in this post wouldn't be netting around 3 mil if he NEVER used credit. Actually, I know for a fact he wouldn't be able to. Because a large portion of people make mistakes financially, it doesn't mean they will NEVER understand credit. It's really not that difficult to figure out. It's the self-control that's an issue-but I don't think I should assume everyone lacks self-control.
I wouldn't say that I'm overly cautious. I would say that I'm very aggressive about eliminating debt.

I WON'T say that my way is the "right way" or that your way is the "right way" either. You have your strategy and I have mine.

The important thing is for a person to "HAVE" a strategy in the first place. It's important to have an emergency fund. Most of the people I deal with don't have a strategy or an emergency fund.

I don't see how I could use credit to "get ahead" or accumulate an even greater net worth than with what I'm doing in my life right now.

I agree that self-control is of the utmost importance.
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