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How did you learn your credit habits? See the results of this poll.

Super Contributor

Re: How did you learn your credit habits?

By trial and error.  Lots of errors.  I didnt get my act togther until I wound up in DMP and loosing a relationship.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 11 of 45
Valued Contributor

Re: How did you learn your credit habits?

My parents were credit averse, so they actually were a negative factor in my credit habits. However they did have a good work ethic, so I learned to pay my bills. Fortunately it's much easier to recover from high balances than from defaults and late pays. I'm working on paying down the balances I've run up over the last 7 years and should be done soon.

I learned a lot of my technical information from this site and others like it.
Message 12 of 45
Frequent Contributor

Re: How did you learn your credit habits?

By the time I was 8, I was fearful of money.  I learned from my mother how to fret and stress and cry and procrastinate and loathe over money, but I never learned what else to do with it --- except spend it.  I'm pretty good at that.


I have made decent money for years.  I have saved nothing.  I couldn't even tell you where it went ... until recently.  $5 here, $30 there, a $200 splurge ... a few times a week?  That's where it went.  I learned from my husband to plan my expenses and pay cash for as much as I can, as it is more painful to part with.


Everything about credit, I learned from this forum.  I owe a debt of thanks.  I love this place and everyone's help and genuine concern.


Thanks, everyone!

NFCU Flagship Rewards Visa $25k, USAA MC $3.5k, USAA Amex $3.5k
Message 13 of 45
New Visitor

Re: How did you learn your credit habits?

I never really thought much about my credit until I graduated from college. I furnished my apartment by putting a few thousand dollars on a credit card. At that time I believed it was worth paying interest every month in order to have stuff I wanted/needed. I knew enough to pay more than the minimum every month, even if just a little but more, but after 2 years I still had such a high balance. I finally got tired or having to put so much of paycheck toward my credit card bill instead of being able to go out to dinner with friends or buying clothes! So I started paying as much as I could possibly afford toward my cc bill and in about 6 months it was paid off! I have (almost) never carried a balance on my cc ever since.
Message Edited by jules8769 on 10-03-2008 10:20 AM
Message 14 of 45
Established Contributor

Re: How did you learn your credit habits?

My first taste was from my first credit card. I saw quickly how you can get in trouble, so I gave up on them for a while.


Nobody ever really sat me down and explained. I've just done research over the years as it applied to my situation.

FEB '08 FAKOs: TU 628 | EX 650 | EQ 584
JAN'09 FAKOs TU 686 | EX 705 | EQ 664
EQ FICO: FEB '08 646 | APR '08 678 | SEP '08 679
Message 15 of 45
Senior Contributor

Re: How did you learn your credit habits?

My parents had lots of CCs when I was a wee little boy and watched them always PIF CC bills. That was my only exposure to debt. When I got a little older my parents taked to me about some things when I would ask. I leanred much more. It was only from what they taught me that I have what I did up to a few years ago. As of a few years ago I learned the rest on my own and got much further. But the big head start came from my exposure to credit watching my parents as a wee little boy.


I don't give them enough credit for who I am today. Smiley Happy 

Message Edited by ilovepizza on 10-03-2008 03:27 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 16 of 45
Frequent Contributor

Re: How did you learn your credit habits?

The first thing I ever learned about credit was from my mom


I learned that if my mom saw it and wanted it or thought she needed it she had a card for it in her wallet. She paid for everything with a credit card.


         What I know now that she didn't explain to me then was she PIF for these purchases by mailing a check as soon as she got home.


This of course caused me to be into about $10,000 worth of credit card debt by the time I was 23!!!!


The next thing I learned about credit I learned from Dave Ramsey. He taught me all about settling my debts for less than the amount owed just to get the CCC's and CA's to leave me alone.


            What I know now that I didn't know then was that while that got me out of debt and got the credit hounds off my back it wrecked my credit score and then I couldn't buy anything.



Everything that I know and do now I have learned from trial and error and actually taking the time to hear BOTH sides of all advice Im given and to always seek a second opinon and to do what I feel is best for me - not what was best for someone else because all financial situations are 100% unique!!

Message 17 of 45

Re: How did you learn your credit habits?

My parents didn't believe in credit cards (or paying for something "on time" as they called it) and paid for everything with cash and paid their bills on time every month. My sibliings and I were taught that if you wanted something that you saved for it (that is if it were worth having). Well when I finally went out on my own I did a pretty good job of sticking to my parents teachings until I applied for my first credit card and then well I only have myself to blame for the mess I made of my credit history.


But it is never too late to learn and get back on the right track and since I've been coming to this forum I've been learning a lot about how to go about what to do and what not to do as far as credit is concerned.

Message 18 of 45
Moderator Emerita

Re: How did you learn your credit habits?

ccdata wrote:

My parents didn't believe in credit cards (or paying for something "on time" as they called it) ...

I think I remember from the old "Andy Capp in London" comic strip that they called buying on credit "putting it on the never-never." Smiley Tongue
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 19 of 45

Re: How did you learn your credit habits?

I started with great money handling before I came to the great US of A, then continue to do so until my family got bigger had 3 children and a husband that I had to leave.  That was when everything went downhill, uphill for a very short period of time then downhill again.  Now that my children are older and my business (which ate all my good credit) I am slowly managing my credit 





1 year ago,  

TU 520, EQ 515, EX505



TU 632, EQ 594, EX 592

Message 20 of 45
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