The official credit cards thread

[fightinfrenchman]

So recently I've fallen down the rabbit hole of watching YouTube videos about starting off and improving your credit. It's a very bizarre process that I didn't know much about beforehand, but apparently some people have literally dozens of credit cards in order to maximize their credit score and various points/miles

I'd like to know what kinds of credit cards the people of ESOC have. So far I have a Discover student card (if anybody else wants one let me know and I will refer you, and we will each get $50) and an Amazon Prime card that gets me 5% cashback on Amazon and at the recently-opened Whole Foods near my house.

Some of the info in this thread may only be relevant to US posters but I'd like to hear how it works in other countries as well.

[Djigit]

We don't do that here.

[Gendarme]

Can you get any more American than discussing going into debt to please your government?

[gibson]

I remember when I made you sign up for that discover card! I have a discover card, a chase card, and a bestbuy credit card.

[fightinfrenchman]

I remember when I made you sign up for that discover card! I have a discover card, a chase card, and a bestbuy credit card.

It was a great thing for you to do, really improved my credit score and got me some cashback

[Ashvin]

I am a student, I only have a debit card because well no constant source of income.

[Kao]

I've never hear of credit cards that you can use everywhere in France.
i.e. : iirc we have some that we can use only in a given mall, tho i may be wrong.
I think that's mostly an american thing?

[Gendarme]

You are confusing credit cards and prepaid cards. Visa and Mastercard both have credit cards.

[gibson]

I love debt and think everyone should get in a lot of it

[Amsel_]

I really should get a credit card to start working on my credit score; but I don't buy enough stuff to justify it. I haven't used my debit card in like a year.

Can you get any more American than discussing going into debt to please your government?

It's short-term debt. If you pay it off at the end of the month then you don't pay interest, but still get the rewards. You're essentially losing money by not using a credit card. The mistake people make with credit cards is using it as a stop-gap that allows them to spend money they don't have.

[deleted_user0]

Usa credit card system is insane tbh...

You can have perfect credit score, someone can just open cards in your name and destroy your record, and its virtually impossible to set right = ur screwed for life. Maga!

I use my card only for booking international flights basically, and sometimes for buying stuff from amazon.

[Gendarme]

How does someone else get a card in your name? Surely banks check for ID properly.

[deleted_user0]

it's relatively easy to get fake driver's licenses in the usa, apparently.

And then you do this: Application fraud
Application fraud takes place when a person uses stolen or fake documents to open an account in another person's name. Criminals may steal documents such as utility bills and bank statements to build up useful personal information. Alternatively, they may create fake documents. With this information, they could open a credit card account or Ioan account in the victim's name, and then fully draw it.

[Goodspeed]

Credit cards work very differently in the USA than here, and are much more widespread. Most of my friends don't have one. I have one but only for when I go abroad, as a last resort when my debit card isn't accepted, or when paying for stuff on international websites. I have no clue what my credit score is, if I have one at all.

[InsectPoison]

How does one find out their credit score (UK)?

[deleted_user0]

Credit cards work very differently in the USA than here, and are much more widespread. Most of my friends don't have one. I have one but only for when I go abroad, as a last resort when my debit card isn't accepted, or when paying for stuff on international websites. I have no clue what my credit score is, if I have one at all.

NL has credit scores, but i don't think they're as important as in the usa. they're more debt related scores I guess, but they kinda serve the same function.

[Ashvin]

Credit cards work very differently in the USA than here, and are much more widespread. Most of my friends don't have one. I have one but only for when I go abroad, as a last resort when my debit card isn't accepted, or when paying for stuff on international websites. I have no clue what my credit score is, if I have one at all.

You're saying you can't use your debit card for international transactions?

[Goodspeed]

Not always

[gibson]

How do Dutch people buy stuff they can't afford?

[Gendarme]

They don't buy small things they can't afford. They buy big things like cars and houses and take a loan one time and get on with life.

[deleted_user0]

Pretty accurate for once... I guess

although the american model is sneaking up on us!

[jesus3]

Credit cards work very differently in the USA than here, and are much more widespread. Most of my friends don't have one. I have one but only for when I go abroad, as a last resort when my debit card isn't accepted, or when paying for stuff on international websites. I have no clue what my credit score is, if I have one at all.

same, I just got my first credit card since I'll be living abroad for some time and there I might need one. I'm probably going to send it back afterwards , there's really no need to keep it.

[Amsel_]

Usa credit card system is insane tbh...

You can have perfect credit score, someone can just open cards in your name and destroy your record, and its virtually impossible to set right = ur screwed for life. Maga!

I use my card only for booking international flights basically, and sometimes for buying stuff from amazon.

It's actually not that bad. Your credit score will go back to normal after some time. Definitely not screwed for life. Also there are safeguards in place if you're worried about identity theft. After the equifax leak (which no one is talking about anymore for some reason) most people should have a credit freeze, which would stop almost all cases of identity theft in its tracks.

[fightinfrenchman]

I really should get a credit card to start working on my credit score; but I don't buy enough stuff to justify it. I haven't used my debit card in like a year.

You don't use a debit card? How do you buy things?

[Gendarme]

He pays with bullion like a real man.