Twilight Hue
Twilight, not bright nor dark, good nor bad.
Enjoy.
-
Welcome to Religious Forums, a friendly forum to discuss all religions in a friendly surrounding.
Your voice is missing! You will need to register to get access to the following site features:- Reply to discussions and create your own threads.
- Our modern chat room. No add-ons or extensions required, just login and start chatting!
- Access to private conversations with other members.
We hope to see you as a part of our community soon!
The wonderful world of credit cards. Honest version.
- Thread starter Twilight Hue
- Start date
Thief
Rogue Theologian
I recently received a credit rating of '0'
I have always paid my debts on time by check or cash
no credit cards
debit only
Equifax has no record of debt in the past half year
they have no means to calculate a rating
therefore '0' rating......no credit
I'm thinking about suing them for defamation of character
I have always paid my debts on time by check or cash
no credit cards
debit only
Equifax has no record of debt in the past half year
they have no means to calculate a rating
therefore '0' rating......no credit
I'm thinking about suing them for defamation of character
Thank goodness, i became wise enough to not use them.
I learned to pay mine in full every month.
Twilight Hue
Twilight, not bright nor dark, good nor bad.
In spite of the many negative images involving Islam and Muslims these days, I would prefer Islamic banking practices and policies over any other type or style of fair banking presently in operation in the world in the manner of how the system itself is structured.
One of the few good things out of the Middle East these days where people can lead by example. Sadly fair banking and fair credit practices are in short supply in the world.
This is one of the reason, why some wish to force democracy and secularism around the world. Another 1+ Billion people enslaved to Interest would equate to Trillions of $ over the years.
In the West, go back 100 years, people lived simple lives, knowing this was a stepping stone to the next World. The Devil attacked Christianity and made it dwindle in power and influence, today we have a secular, almost Godless Society that pays interest for decades, then people retire to sell their home, so their care home fees can be paid. Forget children looking after their parents, they'r too busy working to earn enough to keep up with their neighbours. It is modern slavery, but most people can't see it as they unwrap their latest contract smart phone.
The greed of some dictates the need for another Billion people to be enslaved in a similar system, but first you have to knock down their religion, brick by brick.
rant over.
Leave Katy out of this!
Araceli Cianna
Active Member
I do not use credit cards and never plan to.
The Holy Bottom Burp
Active Member
I admit to owning two credit cards ( 
crazy man right?). Seriously, I see nothing wrong with them as long as you a)pick one with a sensible interest rate, under 20% and b) pay the debt back quickly, not just the minimum amount every month, as you will lose out big time as the man in the video pointed out. If you cant get one at a decent rate of interest, or cant afford to pay more than the minimum, credit cards aren't for you. Simple fact.
You pay a premium interest rate, compared to cheap personal loans for example, for the convenience. I can spend a few thousand at the drop of a hat without having to fill in a four page form asking me detailed questions on how much I earn and how many liabilities I have. Credit makes the world go round, nothing wrong with it as long as you make the effort to keep a track on how much debt you have in relation to your income. Do your homework, don't be lazy and you wont get stung!
crazy man right?). Seriously, I see nothing wrong with them as long as you a)pick one with a sensible interest rate, under 20% and b) pay the debt back quickly, not just the minimum amount every month, as you will lose out big time as the man in the video pointed out. If you cant get one at a decent rate of interest, or cant afford to pay more than the minimum, credit cards aren't for you. Simple fact.You pay a premium interest rate, compared to cheap personal loans for example, for the convenience. I can spend a few thousand at the drop of a hat without having to fill in a four page form asking me detailed questions on how much I earn and how many liabilities I have. Credit makes the world go round, nothing wrong with it as long as you make the effort to keep a track on how much debt you have in relation to your income. Do your homework, don't be lazy and you wont get stung!
DavidFirth
Well-Known Member
Do Islamic banks lend money?
Yes and there's information here on how they work:
Explainer: how does Islamic finance work?
Most banks claiming to follow the Islamic ethos are not compliant with God's Commands and use other methods to disguise 'Interest' payments. When you let outside forces drive up the price of land and building costs, then you push people to taking on huge debts, that only serve the Banking Industry.
YmirGF
Bodhisattva in Recovery
I use debit card only and do not own a credit card but that is no reason to go insane and adopt Muslim financial practices.
Akivah
Well-Known Member
They do. Although they don't charge interest, they do charge for loans in other equivalent ways. Islamic modes of banking & finance included Mudarabah (Profit and loss sharing), Wadiah (safekeeping), Musharaka (joint venture) and Ijar (leasing).
Islamic banking and finance - Wikipedia
YmirGF
Bodhisattva in Recovery
Indeed, they don't charge interest, but they just roll a profit margins into the contracts up front. All because Muhammad didn't like the idea that people made a profit on his inability to repay his loans.
Akivah
Well-Known Member
This is in accordance with Dave Ramsey's principles, he is anti-debt. Once you eliminate debt and pay everything with cash, then your credit score will drop to zero. And as credit isn't used for purchases, then the credit score become irrelevant.
Last edited:
Akivah
Well-Known Member
Credit cards are not bad. It is people's irresponsible use of credit cards that is bad. If a person charges more than they can pay off each month, then they are charging too much and using their card irresponsibly.
Used properly (i.e. paying entire balance each month), credit cards are a convenience, protects one from robbery, and could earn benefits. Paying the balance each month eliminates any interest and fees, while earning benefits.
With my credit card, I earn about two free restaurant meals per month. I recently ran a new car purchase through the credit card and earned about ten meals. Since I had already saved 100% of the car price, I simply paid the balance of the card off that same month.
Used properly (i.e. paying entire balance each month), credit cards are a convenience, protects one from robbery, and could earn benefits. Paying the balance each month eliminates any interest and fees, while earning benefits.
With my credit card, I earn about two free restaurant meals per month. I recently ran a new car purchase through the credit card and earned about ten meals. Since I had already saved 100% of the car price, I simply paid the balance of the card off that same month.
Last edited:
As I remember, Islamic banks in the US were not in trouble during the great banking crisis about a decade ago.
I do have a couple of credit cards but learned from my parents (and my wife from hers) that one does not spend money one does not have and pay off the cards every month.
Even cars should not be bought with credit if at all possible - save the money every month keeping the old clunker until you have enough to buy a new one. The only exception is a house. Most can't go that far, but the principle is good.
I do have a couple of credit cards but learned from my parents (and my wife from hers) that one does not spend money one does not have and pay off the cards every month.
Even cars should not be bought with credit if at all possible - save the money every month keeping the old clunker until you have enough to buy a new one. The only exception is a house. Most can't go that far, but the principle is good.
I make money from credit cards.
Cash back, traveler miles. I've made lots of money from credit card.
It's simple. I don't accrue debt by actually paying the entire balance on time. If anything, credit card companies have lost money from me because they lend money to me without interest.
Go figure.