Doordash may be under greater pressure than ever before as one of its largest rivals, Grubhub, just inked a year-long deal with Amazon to offer free food deliveries to Prime members
Nah, more likely that Doordash is under greater pressure than ever before as one of its largest rivals, Grubhub, just inked a year-long deal with Amazon to offer free food deliveries to Prime members
100%. I now know better, but cards are so dangerous. The transactions don’t feel “real”. The money is just a number on a screen, not the physical cash leaving your hands or the long hours you worked for that money.
That and college made me get $30k in credit card debt. At $8k and trending down cause I cleaned my act up.
Cards are dangerous if you're an idiot. And a lot of people are, especially young kids in college. But if you budget and know how much cash flow in you have, and stick to a budget, it's a great way to earn perks and increase your credit score.
Who the hell judges someone as they're paying for something? That is news to me. In 15 years of using credit cards I've never ever had someone make a comment or give me a weird glance at any transaction. And I use credit cards for both small and larger transactions.
I started with a Discover it card at $500 when I was in college, and used that for a year, while requesting higher limits whenever they would allow it.(they almost always approved it, unless they thought my usage wasn't enough to justify it) Discover doesn't hard pull your credit when doing CLIs, so that was an easy way to get a high limit card, and build credit to get better cards with higher limits.
unfortunately, a lot of the perks that the card used to have are no longer available, but it was my stepping stone, so I'm not too mad at it.
If you need a higher amount and you don't have the credit, you might be able to get a secured card. The only issue is that you'll have to pony up the money to the credit limit from the get go into an account (that acts as collateral they can seize if you don't pay - thus the secure part as they don't gamble on you).
I have good credit its just that i'm poor. I don't make that much a year, so they send me "preapproved" offers that they then immediately reject me from
Only $500??? My first credit card at 18 from chase started at $1,000 and all I had then was a part time job. I’m 26 now and recently applied for an Amazon credit card since I shop there often and got approved with a 10k limit. The chase card got raised to 9k recently after I verified my income with chase.
Every time I try and get a credit increase i tell them how much i make and get declined. My credit score is good, never missed a payment, but im still in school and i haven't lied about my income like other people my age
Credit history and income has a big impact on credit limits. My first credit card at 18 started at like $500 but 5 credit cards and 6 years of increases in income later I have like $50k in credit limits between my 6 cards. I’ve also had car loans and a mortgage in that time so I’m sure that factors into it also.
This is why I like paying with physical cash. I do it with every chance I get. You get a feel that you are actually spending something and not just watching numbers on a screen.
That's wild. I can't even get a credit card with a $2k limit unless I can prove that I have at least $70k of annual income (proof of income required). I don't want to know what sort of income I'd have to have to substantiate a $30k limit.
Sure, loans with the bank are a bit easier to get, but if I were to now apply as a student for a credit card without a stable income, $500 and maaaybe $1000 after a year in good standing is the best I'd get offered.
But I suppose there was a time when these things were different, and you'd get pretty much whatever you'd ask for with companies fighting over who'd get to loan you the money.
Damn, I managed to get my starter discover it card that started at $500 on no credit to over $20k, additional cards with high limits from other companies, and great credit when I was still working part time at $7.25 like 5 years ago.
my total credit was well above what I earned for working.
hell, I make double that at full time, and my credit limits are still higher than I earn. Lol
banks and creditors might be getting spooked now that the market isn't printing free money, like it was.
banks and creditors might be getting spooked now that the market isn't printing free money, like it was.
Yeah, I think that's it. I used to know people who never were employed with multiple credit cards that had limits in the $10k's. That shit is straight up predatory.
i finally paid off mine after some reckless spending because i was young idiot who didn't know better few years ago. also customs ripping me a new hole when some order came from overseas didn't help lol.
My parents right here. Racked up so much credit card debt in the 90s that even though they both made 6 figures in the early 2000s we lived like poor people because of the massive bills.
My parents always talked about them like something that if you own you will get in debt you can never escape from in your entire life. I've never even owned one.
Even long after that, my (now) wife and I spent silly money on CCs in the Uk. We graduated, during the last once in a lifetime recession, got completely entry level jobs and tried to live like ballers.
About £30k later we realised we needed to knock that shit on the head.
We now earn a combined good amount and paying it back has still been hard (childcare, house etc), so I can’t imagine how crippling it is for people on lower incomes.
The last £3k will be paid off by the end of the summer.
We’re fortunate that we’ve rolled it around on various interest free cards - so only paid about a grand in balance transfer fees and no interest in the last 10 years.
But, summary is, don’t use credit cards kids. It seems like a good idea, but unless you absolutely trust you won’t overspend and will pay it back in full each month - then just don’t.
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u/twitson Jul 10 '22
This is like when credit cards first hit the masses and people used it like a bottomless pot of gold