Originally Posted by
mpath
FWIW, if you're thinking of rebuilding your credit - sincerely rebuilding, and not just lip service - and you can "afford" that new bike, buy it with your credit card. Then when you get home, pay it all off online. You get the airmiles or whatever points program you are on. And rinse and repeat a dozen more times a month.
IMHO most people lack the discipline to properly leverage their credit, and it's just too tempting to have it all unravel and go into further debt.
I actually haven't had a credit card in a number of years. Where in lies the problem. To get credit I need to have more credit... Which is what I've been told by creditors. Right now my car may be decent and working. But if I ever want to buy a new one I have to establish credit extensions and repayment. I figure I'm spending the money anyway, might as well make it work for me.