Credit cards?

[HotDamnImAPhiMu]

Originally posted by FAB*SpiceySpice
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.

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

[agdbirmingham]

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!

[AznSAE]

i love credit cards! 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.

[Rudey]

Originally posted by BobbyTheDon
CREDDDDDDDDDDDIT CAAAAAAAAARDS??????

Dude you are so like Long from Sixteen Candles:

"AUUUUUUUUUUUUUUUTOMOBILE?"

-Rudey

[ADqtPiMel]

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.

[Lady Pi Phi]

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.

[ShaedyKD]

Originally posted by cashmoney

On the Capital One cards......stay away.

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!

[FAB*SpiceySpice]

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.

[chideltjen]

Originally posted by FAB*SpiceySpice
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?

[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. 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]

[JennRN]

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!!!

[cash78mere]

Originally posted by FAB*SpiceySpice
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.

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.

[adpiucf]

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.

[bcdphie]

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.

[norcalchick]

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

[Tom Earp]

Never get a store credit card.

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!