3 ms·

Being poor is fucking expensive.

• Danihan 9y ago
  No, having a bad reputation and poor credit history is expensive.
  • vehementi 9y ago
    Being poor is expensive
  • dpark 9y ago
    Creditors do not care a bit about your reputation. And no credit history is almost as bad as poor credit. If you have no credit history, you should expect to overpay when financing anything.
    • test6554 9y ago
      No credit history is a wildcard. You could go either way and they choose to not trust a stranger to the system rather than give you huge credit that you may not be able to handle responsibly. It's easy to get a low limit store credit card ($250 limit) as someone with no credit history. It may have an annual fee. If you pay it off reliably over a year, pay the annual fee one time you will have a moderately good credit history. Then you can get another credit card with no annual fee and cancel the first one. Then keep this second one for decades, because it will show that your nearly oldest credit card account is still in good standing after many years.
    • JumpCrisscross 9y ago
      > no credit history is almost as bad as poor credit Seconding this. It took me a long time to get over my German Swiss aversion to consumer debt. You are certainly penalised for doing that in America--from getting an apartment to factoring invoices at my business, many things became harder.
• buttcoinslol 9y ago
  I was poor and unbanked for a while, and yes it is. When you are poor, you generally can't take advantage of buying in bulk, even things like toilet paper. I save a substantial amount of money (and time) now that I can buy larger quantities of things. Now that I have a car again, I'm able to save a tremendous amount of time which I can use towards leisure or making more money. Having access to credit now allows me to get 1.5% cash back on all my purchases, this adds up to a fair amount of money over a year. There's a lot more, but these are a few examples I've experienced personally.