this post was submitted on 17 Jul 2025
1033 points (98.3% liked)
Late Stage Capitalism
1971 readers
403 users here now
A place for for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited.
A zero-tolerance policy for bigotry of any kind. Failure to respect this will result in a ban.
RULES:
1 Understand the left starts at anti-capitalism.
2 No Trolling
3 No capitalist apologia, anti-socialism, or liberalism, liberalism is in direct conflict with the left. Support for capitalism or for the parties or ideologies that uphold it are not welcome or tolerated.
4 No imperialism, conservatism, reactionism or Zionism, lessor evil rhetoric. Dismissing 3rd party votes or 'wasted votes on 3rd party' is lessor evil rhetoric.
5 No bigotry, no racism, sexism, antisemitism, homophobia, transphobia, ableism, or any type of prejudice.
6 Be civil in comments and no accusations of being a bot, 'paid by Putin,' Tankie, etc.
founded 10 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Its crazy, the only debt I've held is student loan debt and I have paid the bill every single month. Otherwise I use checks and a debit card, I had money to buy a used car upfront.
Went to get a credit card. My credit score is below 700, and I was deemed "unqualified" because, get this, I don't have a history of paying off debt, because I have not held enough debt to prove I can pay it off.
My credit rating is so bad that I had to have my brother co-sign a lease for me fifteen years ago. The landlord told him his credit rating was the highest he's ever seen. My brother (and his wife) were in debt up to their eyeballs - over $100K in credit card debt and a mortgage they were deeply underwater on. They're still in bad shape financially; meanwhile I now own my own home outright (having paid cash for a fixer-upper after saving up for a few decades). I still have shitty credit and it's not affecting me negatively in any way.
Just dealt with this. I didn't even exist in the credit system. I've even been told if I had BAD credit I would qualify for something.
Eventually I did get connected to a small local credit union and got a pretty good deal on interest as a 'first time buyer's program.
Now they want you to pay a secure credit card the privilege of having you as a customer, always with a high annual fee and absurd interest rate, and then after a couple years of bleeding maybe they'll give you actual credit. Meh. If you're above 620 you should qualify for FHA first time buyer's loan, which is honestly one of the few ways to not get fucked right now. We're going to do (housing crisis) indefinitely so even shit property goes up.
Yeah, it's dumb, but you should be using a credit card for all your purchases and paying it off every month. I do this, and my credit score is over 800. Make sure you get a card that has cash back rewards so you can get paid for having to do this. Just be extra sure to budget it accordingly and not go into debt.
been playing their game a long time. basically add up credit limit on all your cards. divide by usage %. on time payments and years with good credit, net worth, are factors too. i don't know their equation. sitting about 820 with no debt and 7 lightly used cards. used to play balance transfer until they quit offering incentives. 10k until finally paid down. always pay down principle as fast as you can. saves years of payments/interest. https://www.investopedia.com/ has lots of good reading. think they also sell stuff so.
I use a rewards card to pay for things like service calls/repaires (latest was $650 for a AC repair) I pay it off over a couple months. I could have paid it right away but the rewards give me free protein and gas and that is something these days. I do it in halves to spread it out and leave me extra liquid cash I can withdraw if I need it. I am considering holding about 500 or double that in small bills in case the financial system shits the bed for a few weeks in winter due to the tariffs and economy. Right now, nothing makes sense irt to the markets so I think it is all vibes and denial happening.