Credit Card?

[THE_ARTIST_]

i was thinking about getting a credit card soon and i was wondering if you guys could give me some advice about which one would be the best, and what-not. which one(s) do you have, etc...
its mainly going to be for my car, and im pretty good at saving money so im not to worried that ill go on a spending spree, i really very stingy with my money. i almost wont even buy clothes because i dont want to spend money if i dont need to. (my shoes are like 4 years old, and im still wearing stuff from high school )

some helpful information would be greatly appreciated. Thanks.

 

[mike markota]

Just open a checking account and use a debit card

spend only money you have

 

[gsxtreme1987]

Just open a checking account and use a debit card

spend only money you have

I agree

 

[ITSME4G63]

you want to build up credit though right?

 

[ghettosmurf]

the credit card is going to be beneficial over the debit card for one thing...to build ur credit score...i work at discover card, they have some pretty good cards, but not the greatest rates in the world. We have a normal classic card, where you get up to 1% Cash back, i really recommend the new education restraunt or gas cards we have...say you have the gas card, everytime u buy gas you get automatically 5% cash back, and you also get 1% cash back on all other purchases, same for the restraunt or education...5% for the specific item....you catch my drift. So say that you put 300 dollars on there in one month, but you pay it off the same month..you get all that cash back, and you did not earn any interest what soever, so basically you are making/saving money everytime u buy something...I would probably recomend the citibank 5% back card, you get automatically 5% back on gas station, supermarket, and pharmacy, and 1% back on everything else. the cap is $300 but that is alot of purchasing, if you think that you are gonna spend more than that, i would check another cash back card...or miles or w/e you want. but make sure they give you rewards...the bigger companies such as citibank and MBNA will have better rates, because they are the BIGGEST companies, so they already have the most money...make sure u get one w/ no annual fee as well...those are just my suggestions...try not to get one over say 12%...if you shop around its easily done

 

[turbolaserAWDrs]

I'm 18, I belong to a Credit Union...with having no prior credit I got a Visa card with a $3500 limit and somethin like 8.9% interest(im not good w/ intrest and stuff) but the card is sponsored/backed by my CU. After having it for 5 months, I only have a 78 dollar balance and my highest was 275 one month. My minimum payment is only 20 bucks a month too.

I say if you can, check into credit unions that you meet requirements for and see if they have a credit card.

 

[ITSME4G63]

say u dont work for a credit card company but want a credit card with a high limit, lets asy I wanted to buy a motor from sbr and pay it off a mntha t a time.

 

[2fast2furious]

Well the best advice I can say is check interest rates. Usually one with an adjustable apr is good if you keep up with interest rates... or low fixed rates. Also steer clear of ones with annual/monthly fees. You don't want to have to pay extra money for no reason on a card you don't use.

 

[D_Eclipse9916]

Credit cards are incredible useful tools IF and i mean IF you use them right. Do not buy anything that you can not pay back. Get a credit card that has no annual fee, if you do then you do not have to pay a SINGLE CENT to the credit card companies other than the money that is owed for your purchases. My credit card is free, why do they offer this? cuz 97.7 percent of people dont pay off the entire bill each month and end up having to pay interest and credit card companies make MUCHO money. I personally have an MBNA credit card with 5 percent off all gas purchases (100 bucks a month for gas= 5 bucks back!! for free!)

 

[96whgsx]

i was thinking about getting a credit card soon and i was wondering if you guys could give me some advice about which one would be the best, and what-not. which one(s) do you have, etc...
its mainly going to be for my car, and im pretty good at saving money so im not to worried that ill go on a spending spree, i really very stingy with my money. i almost wont even buy clothes because i dont want to spend money if i dont need to. (my shoes are like 4 years old, and im still wearing stuff from high school )

some helpful information would be greatly appreciated. Thanks.

That describes me almost completely. I just got one debit card and put all of my paychecks in there. Just make sure that you don't go over your budget, costs 20 bucks each time you do and 5/day after that.

 

[Evil1gDsm]

Just open a checking account and use a debit card

spend only money you have

Yup..I second that..If you want to build credit..Take out a Loan..That is the BEST way to establish or Build your Credit..Just don't be deliquent on your payments..You'll be all good....dan

 

[TooFastTooG]

Visa has something that is meant just for students, i hear it is suppose to be pretty decent.

 

[bhop]

Yup..I second that..If you want to build credit..Take out a Loan..That is the BEST way to establish or Build your Credit..Just don't be deliquent on your payments..You'll be all good....dan

This is good advice. When I was younger, I had credit cards, and I was stupid about them. Years later, i'm still paying on them. Credit cards are evil. I don't use them anymore, just my Visa Check Card and it's much better this way.

 

[Catbox_95]

I'll keep this short and to the point. I am 30 years old. By the time I turned 29, I had just over $100,000 in CREDIT CARD DEBT ALONE. Yeah, I might be an unusual statistic, but I was also one of those people who say "That wouldn't happen to me, I'm too responsible".

I've consistantly paid $2,500 per month on these cards and my balance is somewhere near $63,500 today. It's getting down there, but there's a long road ahead. Yes, I still have a great credit score, never missed a payment. Just be careful and don't fall behind.

 

[TurboDSM86]

ahh holy SH!T, thats a ton of money in debt. did you buy a house w/it?

 

[Catbox_95]

No. I am a home builder however, so I already live in a nice house that I built. I bought parts for my 'Vette, 2 (not just 1) timeshares (that equals twice the screwin' of just 1 timeshare), I loaned my father a total of $52,000, using those credit card checks, that he promised to pay back but has become unable to do so, stereo parts, more parts for my 'Vette, computer parts, and various other "toys".

Notice I never mentioned my DSM. That's been all cash baby! (Hence all the bad-ass work done to it yet still a stock turbo, clutch and smic!)

 

[trapspeed]

Alot of people will say that credit cards are the devil right off the bat. I strongly disagree with that. Sure, they can be a bad thing if the user is irresponsible and cannot manage their money correctly. At the moment I am trying to get approved on a loan for a motorcycle and the two credit cards I do have are helping me a great deal. Several months ago I was nowhere near approval of a loan but after some payments on the credit card it is helping. I figure in a few more months of payments on the credit cards and I'll be able to get the motorcycle.

You can't get yourself too deep into debt right away unless for some odd reason you get a large limit. Right now each of my cards have a $350 limit. I have the option to up the limit but I'm not interested in borrowing a lot of money but instead just using it to establish some credit.

Just be responsible. You should check out www.firstpremierbank.com and www.householdbank.com. I've tried many places and those two were the ones that approved me when I had _NO_ credit. Their rates aren't too bad, either. Good luck, man and hope you don't come back here with a "Credit Cards are the Devil" thread.

 

[DevilSperm]

credit cards are bad! enough said.....you can use a debit card as a credit card and can build credit that way...i would advise you to NOT get a credit card....and if you decide to anyway...get one with a $500 limit