Credit Cards

[aephi alum]

I have skimmed through this thread. My $0.02:

Get a credit card the day you turn 18. I got an Amex green card right after I turned 18 (they didn't have Optima or Blue or whatever back then - where did I leave my walker? lol) and immediately charged $2K for a computer - no problem. I paid it off in full when the bill arrived. Instant good credit record.

If you don't like annual fees (and who does?) get an Optima card, or a Visa or Mastercard. Charge a thing or three and pay in full. Instant good credit record.

If you are looking to finance a car or get a mortgage, don't have too much outstanding credit. Pay off cards you don't use and then cancel them. They'll still show up on your credit report, but they'll show as cancelled.

[knight_shadow]

Originally Posted by aephi alum

I have skimmed through this thread. My $0.02:

Get a credit card the day you turn 18. I got an Amex green card right after I turned 18 (they didn't have Optima or Blue or whatever back then - where did I leave my walker? lol) and immediately charged $2K for a computer - no problem. I paid it off in full when the bill arrived. Instant good credit record.

If you don't like annual fees (and who does?) get an Optima card, or a Visa or Mastercard. Charge a thing or three and pay in full. Instant good credit record.

If you are looking to finance a car or get a mortgage, don't have too much outstanding credit. Pay off cards you don't use and then cancel them. They'll still show up on your credit report, but they'll show as cancelled.

Agreed with everything, except the bold, as the length of time your credit accounts have been open is one thing that helps determine your score,