Why are secured cards never discussed as a means to rebuild credit?

[Logan]

I've said it before and I'll say it again--credit is a tool and used appropriately it can save you money.

I just locked in 1500 gallons of propane for the winter. The daily price was $2.43 a gallon and the lockin price $2.18. I charged it on my credit card that gives me 1.25% cash back so I get even more savings. Also, I have a checking account that gets 3% apy and since I get to float the $3200 until December 23rd I get a little more savings.

And yes, I will be paying it off on December 23rd.

Logan

[LSUTiger32]

Went back ...to credit? How can you find it hard to believe... did you read anything I said? I think I have pretty clearly proven that I do NEED credit. And I'm pretty sure I can find some derrogatory posts where if you didn't actually say "hey that's stupid" it was pretty darned close...

EDIT: And technically, in post #27 you did infact say that something B2S said was "stupid" and you were "calling it like you see it".

Oh yeah, I have said many times that certain things people said at one point were stupid. You don't want to get me stared on the things I have been called and told on here because it was much worse than that. I said I never called anyone stupid for getting credit. People are going to do things their way and that's fine by me. However, when comments are made that you can't rent cars or stay in hotels without a credit card well then yeah, I am going to call that stupid. As a mater of fact me responsding to this is STUPID.

[LSUTiger32]

LOL. I don't quite think so myself. Why are we all so worried about converting anyone anyway? This is money. Personal fiscal responsibility. Key word being personal. I for one, will never have an unsecured CC or car note again. I see a lot of common sense and practicality in an all cash lifestyle. While this is practical for some it is by no means practical for all. These are personal choices and why should it matter to any of us unless we see our forum friends actually falling back into the credit trap. This is all about rehabilitation, not lifetime abstinence. Unless I see someone go out and get $5k credit directly post discharge and go on a completely irresponsible spending spree I feel like I have no duty (or right) to judge/convert them.

That being said, there are many posts/posters that I read and think to myself, "What an idiot." Then I move on.

P.S. - I love Dave Ramsey's common sense money approach myself. Since I don't own a home my "baby steps" are a little modified to fit my life and financial situation.

I am not trying to judge or convert anyone, just trying to keep this side of the debate open. I probably do need to be more like you, laugh and move on.

[Amy26]

Oh yeah, I have said many times that certain things people said at one point were stupid. You don't want to get me stared on the things I have been called and told on here because it was much worse than that. I said I never called anyone stupid for getting credit. People are going to do things their way and that's fine by me. However, when comments are made that you can't rent cars or stay in hotels without a credit card well then yeah, I am going to call that stupid. As a mater of fact me responsding to this is STUPID.

Hehe, well then for all I know I could be in the minority in thinking that a lot of your responses over the last year have been, well, on the "harsh" side to people that are rebuilding...but I'm not gonna go fishing through topics to find them cause that would be well.... STUPID... :P Perception is 90% of online foruming, so I'll go back to living in my fluffy little happy world where people don't speak to each other so..... "harshly"... :P

And for the record I never mentioned anything about trying to "convert" anyone... unless of course you're referring to my pleas for world peace and happiness.

[backtoschool]

Oh yeah, I have said many times that certain things people said at one point were stupid. You don't want to get me stared on the things I have been called and told on here because it was much worse than that. I said I never called anyone stupid for getting credit. People are going to do things their way and that's fine by me. However, when comments are made that you can't rent cars or stay in hotels without a credit card well then yeah, I am going to call that stupid. As a mater of fact me responsding to this is STUPID.

LSU, I am not picking you up on the side of the road, when your clunker breaks down and you can't get a rental car because you only have a debit card.

As for hotel rooms, well we all know I was the one that said that, and I stand by it. Hotels block off huge amounts when you use a debit card. Who needs the chaos to the checking account? Easier to use a credit card and pay it off right away.

[LSUTiger32]

LSU, I am not picking you up on the side of the road, when your clunker breaks down and you can't get a rental car because you only have a debit card.

As for hotel rooms, well we all know I was the one that said that, and I stand by it. Hotels block off huge amounts when you use a debit card. Who needs the chaos to the checking account? Easier to use a credit card and pay it off right away.

By that time, I'll have my yellow Vette!

[FTWORTH]

Oh yeah, I have said many times that certain things people said at one point were stupid. You don't want to get me stared on the things I have been called and told on here because it was much worse than that. I said I never called anyone stupid for getting credit. People are going to do things their way and that's fine by me. However, when comments are made that you can't rent cars or stay in hotels without a credit card well then yeah, I am going to call that stupid. As a mater of fact me responsding to this is STUPID.

You can definitely stay at hotels and rent cars without a credit card but they lock up a large sum of money from your checking account if you use a debit card. I rent cars all the time and if you don't want to use a credit card one option is to reserve the car with a credit card and then when you pay for the car when you return it you can pay with a debit card.

[FTWORTH]

LSU, I am not picking you up on the side of the road, when your clunker breaks down and you can't get a rental car because you only have a debit card.

As for hotel rooms, well we all know I was the one that said that, and I stand by it. Hotels block off huge amounts when you use a debit card. Who needs the chaos to the checking account? Easier to use a credit card and pay it off right away.

See above post