darcie smith
Member
Which do you have and why do you like it?
Credit card vs line of credit
- Thread starter darcie smith
- Start date
Living The Dream
Member
We have both.
Credit card - is nice for small expenses like chemicals, tools, gas ect.
Line of Credit - is nice for bigger things like equipment or other major expenses.
Credit card - is nice for small expenses like chemicals, tools, gas ect.
Line of Credit - is nice for bigger things like equipment or other major expenses.
Trip Moses
IMOL
Same. I have both. CC for operating expenses. LOC for emergency purchase.
Kenny Hayes
Member
I just got a line of credit today. Diana wants a standby generator
I’m like, just buy it.
I’m like, just buy it.
Papa John
Lifetime Supportive Member
I love being debt free and having a boat load of money in the bank.
Trip Moses
IMOL
An advantage of each is not to expose your capital to fraud or identity theft. We aren’t talking about running up debt. It’s firewall between you and criminals.
Lee Stockwell
FOJL
I pay off cards each month. So far I am their master. If I get in a pinch and need to run them up to 15 or 20k they may be a lifeline....but then they would be MY master.
If I need to buy another van or machine it's hard to beat my credit union at 3%.
If I need to buy another van or machine it's hard to beat my credit union at 3%.
Papa John
Lifetime Supportive Member
Cash does the same without exposing your money to ransom in the form of paid interest.
bob vawter
Grassy Knoller
They'll jus steal it from ya....disguise it as a shrub......I just got a line of credit today. Diana wants a standby generator
Kenny Hayes
Member
Hopefully they won’t see it. Behind a gate and they’re covered.
F
FB7777
Guest
I have both…
they are 2 entirely different borrowing instruments , however
I use my 2% Cash back Citibank card daily for EVERYTHING… the key is to set your bank acct to autopay entire balance each month
this way you exploit all the benefits of getting everything at a 2 % discount without any fees or interest
a line of credit , or HELOC is advantageous when you can’t attain a lower rate ( mine is 3.9% ) or want more flexible payback terms
Brian H
Member
We have done that for years!! I haven't paid interest for as long as I can remember.
I have however carried a balance on a few other credit cards. The ones that you get that offer 0% interest for 18-24 months. I have used them several times to purchase building materials for some major projects on my house and new garage, easily over $40,000. They were of course paid off before the end of the 0% interest period and eventually cancelled. It's nice to be able to borrow money for free!!
Mikey P
Administrator
I get everything for free.
Kenny Hayes
Member
I’m driving my Honda Ridgeline on real 0 interest for 72 months. Why not
F
FB7777
Guest
If you don’t have one by 60, I’ll buy you one
I owe you that
course by then , they’ll be electric
Dude. You owe me nothing. Without you I would have never gravitated to the joy of selling options. But I will meet up with you in Alabama and we can doorbell ditch Marty.If you don’t have one by 60, I’ll buy you one
I owe you that
course by then , they’ll be electric
F
FB7777
Guest
Can you set your sights higher than a swamp state?
Im heading to Key West in October , would love to head west soon but Covid is being a little b!tch again regarding travel to blue states
darcie smith
Member
Enjoy, Key West is beautiful. They have the best pineapple wine there
F
FB7777
Guest
Been there a few times …. Got friends that own houses in southwest Florida and we make the journey
Brian H
Member
Are you going to Fantasyfest? My dad had a place on Big Pine Key and would go every year!!
Kenny Hayes
Member
Key West is a fun hangout! 90 mi. to Cuba! I’m going the other direction on the 30th for about 2
weeks. Kanab, Utah. Zion, North rim of GC and whatever else the two of us can get to. Just got our flu shots, so should be good to go.
Latest posts
-
-
-
-
-
-
-
-
-
-
-
Just add a hard work ethic and the minty fresh breath...
- Latest: Cleanworks
-
-