Credit cards?
 

What are the good credit cards out there?

I want one, but I don't work right now, and the ones that send me applications ask for employers name, etc.

Re: Credit cards?
 

lol...get a fucking job like the rest of us. ;)



Credit Cards are a bitch. I just paid off my Visa card. I accidently let my spending get out of control and racked up 4,000$ on it and didnt have anything to show for it. It was all clothes, dinner, alcohol, christmas presents, going to clubs and cash advances. If you get one just be sure to control your spending. I was lucky that I could pay that one off. When my mom's dad died he left my brother and I some nice chunks of change. We invested it in stocks and mutual funds and because of that I had money to pay off my credit cards. Most people arent as fortunate and if you're not careful you can dig yourself a hole you wont get out of very easily.

Re: Re: Credit cards?
 

That's where I'm at. If I stay on my debt reduction plan I'll have the balance down to $1500 by the end of 2005 and then convert it all to a student loan for a lower interest rate while I student teach in spring 2006.

Credit card? Youuuuu've got it!


Those Capital One commercials crack me up. Maybe you could look into that one.

If you don't have a job, don't get a card. Cards are too easy to run up and they suck paying them off.
Over the past 5 years I have paid off all of our credit cards and we do everything with cash now. It is sooo nice being able to just throw down the cash and not worrying about it later. And while it seems like you won't have the money to pay cash, it is unreal how much more money you have when you don't have monthly payments to a credut card.

ugh, avoid them like the plague. or get one with a really small credit line (unless you have lots of self control, which in my younger days, i did not and now $15K of debt).

and when they do increase your line, call them up and tell them to decrease it at consumer's request. keeps you in check from going overboard.

I like my American Express. I have the blue card so there's no annual fees although AMEX constantly sends me letters to get me to enroll in their gold card program (hell no....I'm not paying money for a credit card!). Their customer service has been great and efficient. When a gas station double charged my card, AMEX removed the charge without any questions. Plus, they have a good membership awards program.
They have a blue card for students which I was enrolled in until I graduated. It has a lower credit limit so you don't overspend.

American Express isn't accepted everywhere so you might want to have a back up Visa or Mastercard just in case.

ETA:
Credit cards are a necessary evil in many cases. I'm pretty sure you can't rent a car without them (well, I've never tried to rent without so you never know!). It also helps to build up good credit so that you can one day get a mortgage. You just need to be really careful. I have many friends who have spent frivously on a credit card figuring that they can pay it off eventually. Credit cards are great if you have the mindset that you will pay off your balance in full every month. Interest rates are really high on most cards and I would never want to give my hard-earned money to a credit card company so I make sure to pay off my balance every month! One of my friends owes over $7,000 on her Visa and about $500 of it is finance charges/late fees. Ridiculous. Make sure to budget yourself when it comes to a credit card. Don't go into a store and make an extravagant purchase thinking you can pay it off later. If you can't afford it while you're at the store, you won't be able to afford it later! Credit card companies target college students because they're infamous for racking up all kinds of unpayable charges which creates more money for the credit card company. It's big business for them. The average college student is usually in credit card debt when they graduate. Don't be one of them!

It took me 2 years to pay off a $1000 credit card bill. And I work a very good job that pays me very well. They aren't worth it, don't get one.

Re: Re: Re: Credit cards?
 

I feel ya. My mom told me to put my Visa in a ziplock baggie and throw it in the freezer till I paid it off. It worked.


On the Capital One cards......stay away. Those people try to rip you off every way they can. I pay all my bills online and once I made a payment on my Capital One card, got the conf # but for some reason they said I didnt make the payment and charged me late fees despite me having my confirmation number and the printed out date and time of transaction. I didnt pay it since I didnt fuck up in the first place and they charged me again the next billing cycle.The fuckers still made me pay the fees in the end. :rolleyes: And it didnt help my credit score at all. I have a really high credit score but after that Capital One fiascal my score went down. I went from the low 800s to the mid/high 700s. I had to beef it back up by paying all my bills early and paying off the cards themselves.

I have never had a credit card, only a debit card. My parents, who are lucky enough to have really well paying jobs, told me to never get one. They don't have any, and I was raised with the mindset that you shouldn't buy anything you can't immediately pay for. I know this however doesn't work for most people b/c most people do need to borrow money at some point or another.

So if you are wanting a credit card just to build your credit, I'd suggest just using your debit card, it still builds your credit, this is what I do.

However if you want a CC so you have the extra money then I don't know what the best is, just be super super careful. My brother got a couple of them when my parents cut him off (they hate his fiancee) and he bought her engagement ring plus other random stuff on it and he's now in an immense amount of debt. Just be very careful! My roommate has a money problem and she gets new credit cards so she can pay off her old ones. We haven't even graduated from undergrad yet and she has $5000+ in debt!
:eek: :eek:

WTF??? Who told you using your debit card builds your credit?




I feel ya on the mindset thing. My parents raised me the same way, but after I got mostly cut off (they still pay for my cell phone, insurance and my gym fees) I needed to get CCs to build my credit up more than what my parents did. I walked in to the real world walking without having to crawl first. When I was in college my parents put all my bills in my name and my dad put me on his payroll without me knowing it. Thank god they did because after 6 years in college my credit was the shit after I got out, that and it looked like I'd had a well paying job for 6 years when they ran an employment check or whatever it is they call it. My parents were sneaky, too. They got me a credit card (Visa) without me knowing it was mine. They told me it was my dad's and that they got me a card in my name but it was billed to his account. The intent of that was to make sure I wouldnt charge all kinds of shit out of fear of getting bitched out/cut off. It worked. After I graduated I found out it was in my name alone all the time and that they used it to beef up my credit score for when I got out of school. When I found out about being on payroll I asked them wtf did they do with all my tax returns.....:D They claimed it went to paying off the credit cards. I'd suggest you talk to your parents about doing the same type of thing for when you're done with school and out in the real world. You wouldnt believe how easier life is with really good credit as opposed to having none/bad/ok credit. You can't do shit in the real world without a good credit score. Employers are now making hiring decisions based on credit scores.....can you believe that?

When I started at my current employer I had to sign off on the background check, one of the areas I had to agree on them checking was my credit. They said they don't do that part, only criminal history-- but I had to sign off regardless.

I recently got one. I've had a Macys card for years and years, but I was forced to get one when I worked there, otherwise I wouldn't get my discount. I hardly ever use it, but I'd rather keep it open and paid off because I heard closing accounts, no matter how well you take care of it, can be a negative credit point.

But I have a Capital One card. I have only been using it for paying for school and then I pay everything off once I get my bill, no matter how broke I'll be after I send in the check. Since I lost my full time job, it's now ONLY being used for school. (Although this weekend, I went shopping...)

Basically, I use it only when I know I will have the funds in a month to pay it off. I am richest at the end of the month and that's when my statement comes. My uncle is in debt right now and my parents tell me every day to NEVER spend more than I can afford to pay off completely.

I too used a debit card all throughout college.

I have a Macy's card, too, because I had to get one to receive my discount, but now that I don't work there anymore the only thing I wanna do is throw that d*mned thing away! But I didn't know that closing accounts makes you look bad...really?

Not necessarily:

http://www.experian.com/ask_max/max030905a.html

That's not true at all. Try asking your bank for information on credit cards.

Having 2-3 credit cards is a good idea, but just be RESPONSIBLE!! Don't carry a balance (unless you're a finance guru and get a card with a 0% starter interest rate then invest the money, etc, but that's a little too complicated for most people...)

Only buy what you can pay for or you'll end up way in debt just like everyone else said! If you think you may have problems using a credit card, just call them up and LOWER your limit on the card. But it's a very good idea to start building good credit as soon as you can! It can really help you in the long run!

As far as what is the BEST credit card, it really depends on what you're planning on doing with it. Since you don't have a job, it may help if you can get your parents to help you get one.

If you need it right away and have to carry a balance for emergency purposes than shop around for a low interest rate. If you swear that you're going to pay it off every month, than look for one that has "bonuses".

We have an American Express (no annual fee) that pays us cash back for our purchases. Don't remember all the details (my husband is more of the finance guru), but I believe we get 1-2%+ back on everything we charge. Doesn't sound like a lot, but we charge everything we possibly can, pay it off every month, then get a nice rebate once/year. Be careful of the popular airline mile programs. A lot of them have hefty annual fees that make it not worth it for most people. Some colleges will even take credit cards for tuition so 1-2% back would definitely be a nice chunk of change if you're still in school!!

Best of luck!

i love credit cards! :rolleyes: at one time i had 5-6 of time.

i will be debt free in 13 months if i stick to the payment plan i have been on for at least a year now. i have not charged on anything since then and have mainly used the debit or cash. i have citi and they have really good aprs on tranfer balances. my current interest rate is 1.99% until paid off.

Dude you are so like Long from Sixteen Candles:

"AUUUUUUUUUUUUUUUTOMOBILE?"

-Rudey

I have two credit cards and a debit card. As long as you use them with the idea of paying them in full every time, you should be fine.

If you don't have a job, don't get a credit card. It's possible that the company will deny your application anyway if they know you don't have a job.

Also, if you manage to get a student credit card, they will probably charge you an arm and a leg in interest.

If you do choose to apply for a card, apply for one with a low limit and find one with the lowest interest rate possible.

But I would adivse staying away from them while you are unemployed. I got into some debt as a student and now my credit rating is messed up. Be very, very careful if you do get one.

Re: Re: Re: Re: Credit cards?
 

But David Spade is so darn cute in those commercials!

How about some pokeNO in ReNO at the casiNO?

Cabo? CabNO maybe!

E-I-E-I NO!

Tic Tac NO!

Well I have good credit and I've never had a credit card, so maybe my mom just told me having a debit card builds my credit so I wouldn't get a CC. Who knows?

Either way it doesn't matter b/c I never buy stuff I don't have money for. My parents have never in their lives had credit cards and they somehow managed to buy several houses, cars, etc. so I am not worried about it.

[hijack]

Fun story: When I worked at Macys, we had to offer credit accounts to all customers. This one woman wanted to open an account with us. So I said, fine, all I need is a credit card (Visa, MC, anything really) and ID so we could look up her credit. She didn't have any form of plastic... not even a debit card. She then proceeded to tell me that she pays her phone bill on time all the time. :confused: I told her we needed the credit card (or debit card) to look up her credit history. She said that she has credit because she pays her bills on time. I told her that wouldn't work and she got all pissy and stormed off.

*Debit cards were accepted because all we needed was a number off of a plastic card, really. If it wasn't enough, we'd have to call the credit department and they would manually approve or disprove the account.

[/hijack]

I have a Capital One card, and I've not had any problems with them-I have 0% interest, and I keep my balance at $300!! Because if it ever went up, I would spend it!! They've tried to increase my credit line a couple of times, but each time I would call back up and have them decrease it-and finally said if you increase it again, I'm outta here. That way, the most debt I'd ever be in would be for $300, which isn't that much. I use it mostly to build credit, because when I got out of school I didn't have any( never had cc in college, no student loans, had lived in privately owned apartments, parents bougth me cars so nothing was ever in my name)-so it helps that way. I usually forget I have it half the time, because I put everything on my debit. If you are smart about it, credit cards can be a good thing. But they can get out of control quickly-my friend is $10, 000 in debt!!! :eek: :eek:

how do you have any credit if you have never had a credit card?

i believe most lines of credit open as soon as you get your first card. have you ever checked your score, or are you just assuming you have good credit?

*******************
credit cards are a necessity to build good credit and eventually buy a house. unless mommy and daddy are going to buy a house and cars for you, or unless you have inherited a ton of money, you WILL need good credit one day! very few people have several thousand dollars in the bank to buy a house in full. and if you don't have it, you WILL need a mortgage which means you WILL need credit.

get a card and use it wisely. pay of your balances in full each month and you will build credit. don't ever charge more than you can pay off each month--finance charges ARE NOT WORTH IT!! be smart now and you will be happy later.

Unless you have a job, there is no reason for you to have a credit card. What are you charging items for? So mom and dad can pay for them?

If you're worried about establishing credit, think of it this way. You're not exactly going to buy a house or a condo the minute you graduate. So unless you are paying your way through school, keep up your checking account and avoid the credit cards until after. And then get one card. Don't get store credit cards. Just one low-interest card with a bonus program.

You definately need a credit card in order to build credit, the only other way I can think of building credit is if you have a bank loan, which you pay off. But you may need to show you are a low credit risk by credit card actions before you can get a bank loan - chicken and the egg I suppose.

I only have one credit card - a Visa. I technically have a Mastercard as well, but it is my mum's account and is for dire emergencies only.

The trick with credit cards, as many have said, is to not spend more than you are able to pay off. I did this for years, but it hasn't been as easy to do that as of late. So make sure you always pay the minimum amount to keep a good credit rating. Even if I can't pay the whole thing off, I usually try to pay way more than my minimum amount.

I had a credit card with Citi bank and a Macy's card... but those went in the hole :( Credit bureau, all of that. My mom ended up paying it off for me. It was like $1500 for Citi and $500 for Macy's.

I've learned my lesson and now I'm trying to build my credit back up. So if I got a card, I would only spend like $100 each month or so and pay it off.

My bf is a very good with money, paying bills, etc. He wants me to save my money instead of shopping all the time. lol. So he would keep me on top of paying the bills if I was ever late or something. I've been able to watch my money much better now and don't spend so much anymore.

I tried signing up with a Paypal CC. So I'll see what happens. They'll probablly say HELL NO BIOTCH! lol

Never get a store credit card.:mad:

Most stores will take Major Credit Cards, Visa/MasterCard.

Some businesses will not take Discover, so have to have the above.

If and only if You can pay off the balance each month then dont have more than one.

Watch % Interest rates if you do not pay them off Monthly.

Trust Me, once you get one, every swinging ass Card Company will be sending YOU offers.

I told one that I made $5,000.00 a year to get the freebe and They Sent Me one. Big Scissors in the drawer, Snip, Snip.

Then watch like CitiBank, if you do not do the Minimum, they will charge you a fee for Minimum.

Get one and one only, if you use it, pay it off ASAP!

Interest rates will kill You!:confused:

The bank just called to tell me they never received my signature card with a copy of my drivers license and credit card. So basically all my personal information is out there somewhere and some moron from Bank of America is to blame because he cant put 20 pages of paperwork together without losing something!Thanks for making the last 24 hrs even worse for me. :mad:

I called Capital One to get my number changed and the lovely indian lady from across the world was nice enough to priority mail my new card so I wouldnt be without it. Great company just make sure you always pay your bills on time otherwise you get slammed with some nice fees.

I have my credit card through USAA. I couldn't ask for a better company. I'm thinking of switching all my banking through them. A+ company.

Can you use their services (credit card, insurance, banking) if you or a member of your immediate family isn't in the military?

No, you can't.

The one downside to USAA is they have *no* banking centers except in the city they're HQed in (San Antonio, I think.) They make up for it by reimbursing you for ALL the ATM fees & such you incur, but it can still be a hassle sometimes if you just want to deposit cash (say, if you have a side job waitressing, and can't direct deposit your tips.)

They are a GREAT company though and the customer service is fantastic.

PS - government workers also qualify, not just military.

That is the one problem I have with them-not being able to deposit my non-direct deposited money with them. At work or Army money I have everything directly deposited, but when I get paid cash I end up just sitting on it and spending it.

Ah well...

Interesting. Was this recently? I would NEVER give my CC to a Macy's or whatever to get their credit card. What is needed to run a credit check is the name, social security number, and date of birth. The photo ID just helps to verify the person applying matched the info. A CC number doesn't do anything.

Sort of like back in the day when you couldn't write a check without a credit card. As my mom used to say, "If the check bounces, the law does not allow you to charge the amount to my card". They always claimed it was for signature verification, but when she offered he driver's license and work id w/signature, they pitched a fit. :rolleyes: She ended up giving a cancelled credit card instead! ;)

Keeks has awesome credit. I checked.

Also, you don't necessarily have to have good credit to buy a house. It's not as much doom and gloom as some people make it out to be. Anyway, a big installment loan like you'd get for a car does more to build your credit than some piddly little credit cards.

:D

That's all anybody asks for these days. When you go into Express, or Vicki's, or The Gap, or where ever, and they ask you if you want to open an account, they say all they need is a major credit card.

don't do it!! credit cards are the devil!!!

if you have to have something, get yourself a debit card!