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Establishing credit
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<blockquote data-quote="James" data-source="post: 157076" data-attributes="member: 2"><p>Unless you have 6 or 7 figures in cash, you need to have credit. You can pay cash for pretty much everything except a house.</p><p></p><p>What I would suggest is getting a secured card and paying it off every month, doesn't cost you anything. One thing you have to watch out for though is your credit-to-debt ratio. This is basically your credit limit compared to your amount charged that month. Best practice is to keep that percentage in the single digits. This gets tricky though when you only have a $500 limit, that's a whopping $50 a month you could charge to it. One way around that though is making a payment before your billing cycle closes.</p><p></p><p></p><p>We buy houses for cash all the time. <img src="https://www.dirtbikeaddicts.com/static/images/smilies/noidea.gif" class="smilie" loading="lazy" alt=":noidea:" title="Noidea :noidea:" data-shortname=":noidea:" /></p><p></p><p>Try a Credit Union if you haven't already.</p></blockquote><p></p>
[QUOTE="James, post: 157076, member: 2"] Unless you have 6 or 7 figures in cash, you need to have credit. You can pay cash for pretty much everything except a house. What I would suggest is getting a secured card and paying it off every month, doesn't cost you anything. One thing you have to watch out for though is your credit-to-debt ratio. This is basically your credit limit compared to your amount charged that month. Best practice is to keep that percentage in the single digits. This gets tricky though when you only have a $500 limit, that's a whopping $50 a month you could charge to it. One way around that though is making a payment before your billing cycle closes. We buy houses for cash all the time. :noidea: Try a Credit Union if you haven't already. [/QUOTE]
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