HAS MAC and other makeup put you in debt?

[*Stargazer*]

Quote:

Originally Posted by Beauty Mark Debt is scary, but unless you have very different circumstances (like a friend who served in the Army claims he never has to worry about building credit, even though he's only 25; Shim, is that true?), it's worth while to build credit. You'll want to sign off on a bunch of things that almost always require loans: cars, house, etc. It's also nice to have the security in case something catastrophic happens and you don't have the flow up front.

Beauty, what is your friend's logic behind not needing to build credit because he's in the military? That's the silliest thing I've ever heard.

Credit does NOT equal debt. Credit is a necessary tool in our society. Unless you plan on buying a car or house with cash, lack of credit will harm you in the long run.

The study and acquisition of credit is one of my hobbies, can you tell?

 

[Beauty Mark]

Quote:

Beauty, what is your friend's logic behind not needing to build credit because he's in the military? That's the silliest thing I've ever heard.

He claimed that he can get loans for stuff like a house without establishing credit because of something with the military. Maybe they do loans for that? I don't really understand it, and it makes no sense to me, but that's what he claimed. I thought Shimmer may be able to explain it.

I brought up the idea of having a credit card to him, because he's rather old to not have begun establishing credit and wants to buy a house and car. That was his excuse. *shrugs*

It's truly amazing how many people who are in their early 20s who refuse to get a credit card because of the debt aspect. I always tell my friends to get a credit card that has a low limit and hide it from themselves, only using it every now and then.

 

[*Stargazer*]

Quote:

Originally Posted by Beauty Mark He claimed that he can get loans for stuff like a house without establishing credit because of something with the military. Maybe they do loans for that? I don't really understand it, and it makes no sense to me, but that's what he claimed. I thought Shimmer may be able to explain it. I brought up the idea of having a credit card to him, because he's rather old to not have begun establishing credit and wants to buy a house and car. That was his excuse. *shrugs* It's truly amazing how many people who are in their early 20s who refuse to get a credit card because of the debt aspect. I always tell my friends to get a credit card that has a low limit and hide it from themselves, only using it every now and then.

OK, he CAN qualify for a VA loan. That doesn't guarantee good interest rates on it, nor is it a guaranteed approval. They still take credit worthiness into account. The underwriting standards are a little more lenient in some cases, but established credit history is still important. And that's just a house. Good luck buynig a car with no credit history. He'll get slammed with sub-prime rates in most cases.

I wish they taught credit as a required class because I am amazed at the number of people who just don't get it and then get screwed.

 

[prinzessin784]

There was a point when I was in debt for makeup - I was buying everything and anything I saw on E-bay and I didn't even know if it was reasonable or not (I was just starting to get into MAC). I finally calmed down a bit haha and now I try and spend within my means. Now that my credit card has finally been paid off after 2 years I am more responsible with my money and credit.

 

[Shimmer]

He can qualify for VA loans, like ladybug said, but she's also right in that subprime rates will be the standard for him.
Though, his bank probably reports more to the credit bureaus than he realizes. Any 'paycheck advances' or anything like that will show nd be detrimental.
Honestly though, in a military town, seems like there's someone willing to lend money somewhere somehow, though usually NOT in favor of the servicemember :/

 

[*Stargazer*]

Quote:

Originally Posted by Shimmer Honestly though, in a military town, seems like there's someone willing to lend money somewhere somehow, though usually NOT in favor of the servicemember :/

Ugh. I cringe every time I see one of those car dealers with a sign that says "We finance E-1 and up." Yeah, at a 24.99% interest rate. Predators.

DH has had to actually make certain dealers off limits to his Marines before. They are so shady.

 

[redambition]

Quote:

Originally Posted by MAC_Whore No, but it sure enjoys taking a big bite of my disposable income.

what she said

 

[rosquared]

Quote:

Originally Posted by redambition what she said

yup. i 3rd this.

 

[NutMeg]

I've stopped buying MAC for now. I have so much that I want to use a good chunk of it up before I get anymore, and none of the recent collections have really made me salivate. So no, I don't go in debt over MAC.

 

[Beauty Mark]

Quote:

Originally Posted by NutMeg I've stopped buying MAC for now. I have so much that I want to use a good chunk of it up before I get anymore, and none of the recent collections have really made me salivate. So no, I don't go in debt over MAC.

I think I become more excited about coming close to using up a product than getting a new one.

 

[mzreyes]

yep.. my wells fargo credit card and my macys card (or rather, my bf's macys card) is maxed out.. on MAC. my bf goes, "yea get it? MAC'd out?" tahahahahahah!!! he loves me

 

[Simply Elegant]

I'd never spend more than I can afford on makeup, but about half of my disposable income does go towards makeup though.

 

[giz2000]

Quote:

Originally Posted by little teaser No, i dont have credit cards everything i buy is with cash. if i dont have the cash i just dont buy. im debt free other than car/house

me too...I have house and student loans....no cash? no buy!

 

[Matrix_doll]

Ahhh Yeah Mac I Spent 800 In Four Days! At Mac Omg I Feel Like A Drug Addict!

 

[c00ki312]

i have a credit card but i dont touch it so im not in debt. but each month when i get paid a take a lil trip to mac to 'see' whats new, only to leave with at least 4 items just cuz they looked pretty lol my bf knows whenever we go out i have to go mac so he just takes me there w/out askin me. half the stuff i hardly use so im starting to think ive got an unhealthy obsession! :S