i have a credit card, i use it only for gas
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- Nov 03, 2005
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Quote by antlawsoni dont have a credit card and i dont ever intend on getting one because they give people the idea that they have money which they dont.
That is true but if you can consider it as a tool like anything else then I feel having one credit card (only) is not a bad idea. A tool can become dangerous if you misuse it.
- Nov 04, 2005
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I have a credit card but I rarely use it now. I got in to trouble when I was in college and after I paid off all the debt, I vowed never to let my credit cards get that bad again. If you have a credit card, BE CAREFUL! Also, if you feel you could get in trouble with it, ask them to lower your credit limit. Many of my friends have rediculously high credit limits ($10,000 for example) and it is very possible to get that much debt.
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- Nov 04, 2005
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Quote by MistressPookyChanI have a credit card but I rarely use it now. I got in to trouble when I was in college and after I paid off all the debt, I vowed never to let my credit cards get that bad again. If you have a credit card, BE CAREFUL! Also, if you feel you could get in trouble with it, ask them to lower your credit limit. Many of my friends have rediculously high credit limits ($10,000 for example) and it is very possible to get that much debt.
I too have gotten in trouble with credit card in the past and it was rather painful to extricate myself out of the debt I created. I hope people just getting their first credit card will take heart and try to use it as a tool and live within their means. I think that is the key to use the card properly.
- Nov 04, 2005
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In my opinion it is good and bad to have credit cards because if you over charge your credit card it is very hard to pay it of some person of a credit card company ccame to talk about credit and he said that if you have less than 10% interest rate it is good but never overcharge your credit card.
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- Nov 04, 2005
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Quote by gundam00In my opinion it is good and bad to have credit cards because if you over charge your credit card it is very hard to pay it of some person of a credit card company ccame to talk about credit and he said that if you have less than 10% interest rate it is good but never overcharge your credit card.
Overcharging is never good. That means you are not keeping track of your spending habit. Another thing to consider is that your credit score (FICO) drops if you start charging beyond certain point. If I am not mistaken it is anything past 25% of your credit card limit.
- Nov 04, 2005
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I've been trying to get a credit card for a long time now, and I can't seem to get one. ;x I just really want one so I can pay my bills easier and like, have the ability to go on a vacation without having to deal with traveler's checks and whatnot.
- Nov 04, 2005
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I'm too young to use credit cards. =D It's a good thing too, becauses I don't have to worry about balance or any of that stuff.
- Nov 04, 2005
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I use mine for gas and online purchases. I always pay it off every month to avoid interest though.
- Nov 04, 2005
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I was given a credit card on my 16th birthday, but its only for emergencies.
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-Mel Brooks- Nov 05, 2005
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"The Devils tool" thats what I call credit cards. Their convenient and misleading cause people to spend money like crazy buying the little things they like until people can no longer pay back the borrowed sum. Then interest piles up like crazy and people get desperate to pay them back and resort to things they never would have done in the first place, hence, "the Devils tool." The best thing to do with them is not use them except when buying gas.
- Nov 05, 2005
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Quote by ProseI've been trying to get a credit card for a long time now, and I can't seem to get one. ;x I just really want one so I can pay my bills easier and like, have the ability to go on a vacation without having to deal with traveler's checks and whatnot.
You're in a Catch-22. You don't have credit card so there is no credit history on you and you cannot have credit history until you have your credit card. I've had that problem too.
Here is my suggestion. Try applying for department store credit card in your area like Macys or Wal-Mart. You will have better chance getting a card there. Once you get the card then pick an item of reasonable cost of say $500 and take your time paying it off. Do not charge new item while you are paying monthly. Plan so you will pay off the item in about a year. Now, you have credit history and you will have much better chance of getting regular credit card. There is a catch though. Department credit card has higher interest rate. That is why you do not want to charge too expensive an item. This is how I started my credit history.
Another way is go to your bank and apply for secure credit card. Basically, this is credit card with low credit limit linked to your savings. You are putting your savings as collateral to the bank. Once you get this card then charge items you will have no problem paying it off. Again, I would do this one item at a time. Do this a few times and you now have credit history. Once you have proven yourself responsible person then you can ask the bank to convert your secure card to standard credit card.
Quote by CasusI use mine for gas and online purchases. I always pay it off every month to avoid interest though.
You're the kind of customer credit card companies hate and that is perfectly fine. Keep it up and don't get swamped in debt. :)
Quote by sleepyhead"The Devils tool" thats what I call credit cards. Their convenient and misleading cause people to spend money like crazy buying the little things they like until people can no longer pay back the borrowed sum. Then interest piles up like crazy and people get desperate to pay them back and resort to things they never would have done in the first place, hence, "the Devils tool." The best thing to do with them is not use them except when buying gas.
Devils tool? Hmm, you make a good case. It is true that credit card can be easily abused if you do not have financial discipline.
- Nov 05, 2005
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Quote by mughi
Quote by ProseI've been trying to get a credit card for a long time now, and I can't seem to get one. ;x I just really want one so I can pay my bills easier and like, have the ability to go on a vacation without having to deal with traveler's checks and whatnot.
You're in a Catch-22. You don't have credit card so there is no credit history on you and you cannot have credit history until you have your credit card. I've had that problem too.
That's why it was recommended to me to start using one, even if it was just a little bit.What you can do is only use your credit card for certain things you have to pay like your phone bill, gas, etc. But not use it after that. That way, you'll have a good credit history since you pay off what you buy and then you can start working up towards a higher limit in the future.
But wow >.> $10k limit? That's totally crazy. Even my parents' limit isn't that high yet!
- Nov 05, 2005
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I have a credit and debit card thru my Credit Union. When I first got my credit card thru them, I told them that I wanted a $1k credit limit (since I've got a car loan thru them too....) - that was in 2002. Today, it's now up to $7k (with an 12.9% APR)! What, do they expect me to spend that much? Even though I do buy anime and stuff, I rarely use it for that reason (that's why I have extra money in my checking account), but what do I care - that card is there for MAJOR emergencies only! I have great credit and that's the way I want to keep it.
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- Nov 08, 2005
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I have one, mostly to use it if I need to buy online or if I'm going on a trip. For my daily life I like it better to pay in cash.
- Nov 09, 2005
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I've also noticed that people with good credit history will eventually earn privilege of lower interest rate. I personally feel anyone who can get interest rate less than 10% is doing very well. People unfortunate enough to have bad credit history I cringe at what kind of interest rate they will be stuck with.
- Nov 09, 2005
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From a personal standpoint, I think having a credit card is almost a necessity these days. While cash is still reliable and accepted everywhere, there are some places that just won't allow you to purchase without one. Cell phones are one example. Without a credit card, most cell carriers (save the pay-as-you-go) won't allow you to sign a contract without putting down a huge deposit if you don't have a card. Also, it's nearly impossible to rent a car or shop online without a card.
For those who don't have any sort of credit rating yet (and find it hard to get a card), I suggest starting with a low-limit card, like a student card. My first was an AMEX Blue For students (I still have it, actually, but never use it anymore) and allowed me to get started with building a credit report. The low initial limit prevented me from spending too much ($500 limit), but responsibility played a major role. I now use a Borders Visa, so I can get some money back to spend at Borders on manga ^^;;
Unfortunately, I'm the type of person that the credit card companies don't want. I pay off my bill every month. As a result, they keep giving me credit increases in the hopes I'll spend more money and not be able to pay off each month. I like to think that I have better self control than that... I'm usually tempted to buy shiny things, but they're typically inexpensive shiny things (I've weened myself from buying bigger ticket tech items).
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- Nov 09, 2005
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People here is talking about interest; you mean interest when you don't pay when it's due or interest just when you buy anything even if you have money in your account and pay when the date comes?
- Nov 09, 2005
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Quote by KazahayaPeople here is talking about interest; you mean interest when you don't pay when it's due or interest just when you buy anything even if you have money in your account and pay when the date comes?
It depends. Some credit card does not have grace period so the interest start accruding the moment you charge something. Other credit card give grace period meaning if you pay in full on your first billing then you will not be charged interest.
What you do not want to do is miss a payment. If you do that then odds are that credit card company will jack up your annual interest rate somewhere between 20~30 percent range or worse revoke your card. Your credit history will be damaged and no lender will give you low interest loan for the forceable future.
- Nov 09, 2005
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I don't have a credit card. I don't plan to have one. (well a visa card isn't a credit card) and I guess that I was not raised in a society really fond of credit cards. After all, credit isn't free money.
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- Nov 10, 2005
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A visa card isn't a credit card?
I was told that if you don't pay your full amount or miss your payments, they back charge the interest starting from the day you MADE your purchase. So like if you bought something on the 5th of October and your payment was due Nov 20th, which you didn't pay anything, they'll charge you interest for every day starting from the 5th. That's pretty scary >.<
But yah, people get suckered into overspending cuz they treat credit like they don't have to pay for it. Or that they can pay for it later, like interest doesn't do anything... If you do that, you just end up paying way more then whatever it is that you bought is worth, which is pretty stupid imo.
- Nov 10, 2005
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I don't use mine. It's a dangerous temptation.
- Nov 13, 2005
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i wish i had a credit card
if only for the convenience of buying some hard ro find software online.- Nov 14, 2005
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