I need a credit card. Who wants to give me life advice?!

awelgraven

awelgraven

Well-known member
So i realized I need a credit card to start building credit. Any ideas of what one I should apply for? Interest rate doesn't matter, because I only plan on using it to buy gas/groceries and stuff and then paying it off right away.

I'm hoping to get one with decent rewards, since I'm getting married in June '11 and travel rewards would be nice to help with the honeymoon... but I really don't know.

I get 3 offers a week it seems like, and I don't know what's best. I realized this is the only forum I frequent anymore, so I thought I'd ask here. You all seem like a smart bunch. :)
 
Start with your bank. open a checking/savings account, then get a credit line. Avoid any company that has ads on TV
 
I have checking/savings... but my bank doesn't have credit cards. Or is a credit line something else?
 
credit line is basically a credit card, If your bank doesn't offer them. Might be time to move to another bank. Ideally you would want to join a credit union.
 
Just don't. Don't believe anything they tell you about this stuff. Stay away and you will be about 1000X happier in life.
 
awelgraven said:
Interest rate doesn't matter, because I only plan on using it to buy gas/groceries and stuff and then paying it off right away.
Click to expand...


hahahahaha

so not true!

that's what i said, now i am 12 grand in the whole...ohh, and the groceries are gone, so i can't sell them back....

;(
 
...no but really. I had a Target Visa back in the day (when I worked there) and that's all I used it for. Gas/Groceries. Went home, paid it off. I'd just like to start building credit since my credit history is so short right now.
 
I'm with Mark. Probably best not to, but, I've heard of people establishing and maintaining a great credit score by getting a lot of small company credit cards, like for SEARS, TARGET, BEST BUY, and using them for small purchases and maintaining a low balance.
 
It's good to build credit, it definitely helps down the line for loans, finding apartments, etc. But it's best to think of it as money that you don't have. Use it, pay it off immediately, build a credit history that says you can pay off your bills on time.

A good rule is to use it when you have the money to pay for something. You get into trouble when you overextend yourself. Like it or not it's something you really need to do. If you are buying a camera, hold off until you have the money for camera, use the credit card, then pay it off immediately. I don't think you just have to use it for small purchases, you just need to be smart about it. Paying it off on time is a sign to banks and management companies that you can properly manage your money.

And never ever be late when paying it off. You can easily build good credit by being responsible, but it's much harder to get out of the hole of bad credit once you get a couple hits against you.
 
Even if you intend to pay it off in full each month, be sure to get one where you can set it up to make the minimum payment automatically.
This way you won't accidentally get a late payment if you forget.
And use it very, very carefully- don't dig yourself into a financial pit.
My HSBC Master Card has rewards- points or miles.
 
i used my cards to help fund my film, which was done 2 years ago and now i struggle to pay off 16k in credit card debt by taking whatever video jobs i can...usually i'm falling behind more and more so eventually i'll just declare bankruptcy and it'll be all good. jajaja
 
The only reason I was able to get a nice apartment when I moved was because I had excellent credit. So don't listen to the people who say not to. In this world you need it. I also have plans of getting various professional licenses that I can't afford, and the only way I'll get loans is with good credit. You just have to be smart about it, and not spend money you can't immediately pay back. Credit cards aren't evil: it's just that a lot of people don't have the self control or financial sense to use them correctly.

I actually wasn't able to get a retail charge card until I'd started my credit, the requirements seem to have gone up. Capital One offers cards with terrible interest and terms and annual fees. If you can't get anything else, it's a start. A secured credit card from your bank would be the best option, but sometimes that isn't really an option.

My advice is to be absolutely certain you pay your bills immediately. But definitely work on getting one.
 
Woah. Get a credit card. Honestly, in this day and age, you can't not have a credit score. Because some people had a bad experience because they couldn't manage a credit card doesn't mean you shouldn't have one.

I have two cards. I use both everyday for every transaction I make. I pay off the card when I get my statement. And my credit score continues to jump nicely. You have to use your credit like a debit card. Don't use it if you can't pay things off. Your interest rate is going to be high no matter what, especially today. Credit cards are the most expensive source of credit anyways. You really don't want to ever have an outstanding balance, unless you've planned it out.

Get a card, work on your credit score. If you have terrible credit (or no credit) you'll have a hard time getting an auto-loan with good rates, you'll have trouble with mortgages, you might even have a hard time getting a job. You need an okay credit score in life. The only way to get it is with a credit card.
 
You must log in or register to reply here.
Back
Top