Looking into first Credit Card

[SRim23 5,000+ posts]

only if you live outside of your means...

wouldnt you consider charging necessities like gas food and rent, but paying cash for everything else living beyond your means? you should be paying cash for the necessities and financing extras if you really want/need them...

but ur all right. young people NEVER get themselves into credit card debt //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

just be careful.

 

[jeeper07 5,000+ posts]

thats 19.99% apr

 

[jeeper07 5,000+ posts]

wouldnt you consider charging necessities like gas food and rent, but paying cash for everything else living beyond your means? you should be paying cash for the necessities and financing extras if you really want/need them...

but ur all right. young people NEVER get themselves into credit card debt //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

just be careful.

im not doing it because i cant afford it, im doing it to build a credit score and have the extra ability of money if needed.

 

[zack39648 10+ year member]

thats 19.99% apr

yea they changed since i got my card ... Citi is still a REALLY good CC company do a google search .. look into that students card you speak of

 

[jeeper07 5,000+ posts]

http://www.mastercard.com/us/personal/en/findacard/results.html?silo=10&user=0

lookin at the 3rd or 4th one down wht do u guys think?

 

[xxBURT0Nxx 10+ year member]

i got a credit card when I first turned 18 from capital one and I just opened another savings account at my bank so whenever I buy something with my credit card I can just transfer money into a savings account and pay off the bill every month.

 

[zack39648 10+ year member]

i dont have any complaints on citi card but the APR has went up since i got my card i guess the economy has something to do with that if citi card is defiantly the way to go IMO

edit: also just noticed all those cards are variable APR's that might not be good but i dont know much my card is a fixed APR but it may mean variable on credit.. not sure

 

[jeeper07 5,000+ posts]

With citi what is the process if you want to cancel it?

 

[Pottro 563 10+ year member]

if you pay it of every couple months that wont help credit score. you need to keep some balance on there. maxed out is bad nothing on it is bad. leave some balance remaining. multiple cards with little amounts= increase in credit. thats what my aunt said. she is some loan proccesor at our local bank. sometime only having 100 dollars on one and paying interest builds credit. but anytime you are building credit you are usually spending more money than you need to.

 

[zack39648 10+ year member]

ohh thats something you never want to do is cancel a CC it can cost you more than its worth .. let me dig my agreement and see what it entails

 

[jeeper07 5,000+ posts]

thats why im asking i want to cover all the bases before i go ahead and do this. and i guess it does make sense to keep a small balance and keep paying off to improve ur credit score

 

[zack39648 10+ year member]

if you pay it of every couple months that wont help credit score. you need to keep some balance on there. maxed out is bad nothing on it is bad. leave some balance remaining. multiple cards with little amounts= increase in credit. thats what my aunt said. she is some loan proccesor at our local bank. sometime only having 100 dollars on one and paying interest builds credit. but anytime you are building credit you are usually spending more money than you need to.

i can concur i have 5 CC's when i got my first CC my credit score was no existent at 18 now 1 year 8 months later i have a credit score of 760 wich is great and better than my parents i charge misc things and most of my gas the things i have money for and would buy anyway pay off my balance monthly none of that "minimum" payment shit ..

 

[lilmaniac2 5,000+ posts]

wouldnt you consider charging necessities like gas food and rent, but paying cash for everything else living beyond your means? you should be paying cash for the necessities and financing extras if you really want/need them...

but ur all right. young people NEVER get themselves into credit card debt //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

just be careful.

yea the sarcasm is far from needed.

Im 20 years old and have 3 cards, and guess what I have a higher credit score than most ( when I bought my Honda I got the Ultra-Preferred rate, which is the highest given )

If you read the thread he's not charging them because he can't afford them, he's doing it for the same reason I did when I turned 18 build credit.

If you live within your means, however you pay for whatever you do its not gonna cost you anything. It's when you charge stuff thinking you can pay for it later is when you get in trouble.

 

[lilmaniac2 5,000+ posts]

ohh thats something you never want to do is cancel a CC it can cost you more than its worth .. let me dig my agreement and see what it entails

I cancel'd my Sears Mastercard when I paid it off last christmas, didn't cost me a dime.

 

[jeeper07 5,000+ posts]

yea the sarcasm is far from needed.
Im 20 years old and have 3 cards, and guess what I have a higher credit score than most ( when I bought my Honda I got the Ultra-Preferred rate, which is the highest given )

If you read the thread he's not charging them because he can't afford them, he's doing it for the same reason I did when I turned 18 build credit.

If you live within your means, however you pay for whatever you do its not gonna cost you anything. It's when you charge stuff thinking you can pay for it later is when you get in trouble.

exactly my plan. im looking into that bp card now.