Looking into first Credit Card

[lilmaniac2 5,000+ posts]

I just started college, two semesters now and i'm in about 5g worth of debt already. When i first got my cc, i said to myself, i'm gonna be hella responsible and use it for emergency only. Well next you know, i was swiping the card for every little thing and using cash for major stuff but that little stuff adds up quick! Don't get a cc....best advise i can give.

You **** at managing your life //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

5g in a year, c'mon now

 

[jeeper07 5,000+ posts]

Citi is good. I was with them until discover offered 5% back on gas.

and that citi card also offers 5% back on gas with the card i linked to //content.invisioncic.com/y282845/emoticons/cool.gif.3bcaf8f141236c00f8044d07150e34f7.gif

well **** that sucks. but im getting one and i will be responsible because i cant afford not to be. and im not an impulse buyer. im not worried about that so everyone can stop saying ill go 6-10 gs in debt cause i wont. but i think im going to apply for that citi card.

 

[zack39648 10+ year member]

I just started college, two semesters now and i'm in about 5g worth of debt already. When i first got my cc, i said to myself, i'm gonna be hella responsible and use it for emergency only. Well next you know, i was swiping the card for every little thing and using cash for major stuff but that little stuff adds up quick! Don't get a cc....best advise i can give.

some people are more responsible than others and also have more self control .... yes some people get into major debt no doubt ..

 

[Flipx99 5,000+ posts]

You **** at managing your life //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif
5g in a year, c'mon now

It can happen riding the forum boners....

 

[zack39648 10+ year member]

and that citi card also offers 5% back on gas with the card i linked to //content.invisioncic.com/y282845/emoticons/cool.gif.3bcaf8f141236c00f8044d07150e34f7.gif

well **** that sucks. but im getting one and i will be responsible because i cant afford not to be. and im not an impulse buyer. im not worried about that so everyone can stop saying ill go 6-10 gs in debt cause i wont. but i think im going to apply for that citi card.

good choice IMO i also have 5% back on gas it adds up on the bills more than you would expect

 

[SSS 18734 5,000+ posts]

I just started college, two semesters now and i'm in about 5g worth of debt already. When i first got my cc, i said to myself, i'm gonna be hella responsible and use it for emergency only. Well next you know, i was swiping the card for every little thing and using cash for major stuff but that little stuff adds up quick! Don't get a cc....best advise i can give.

There is no one to blame but yourself and your irresponsible spending habits. A credit card company makes buying things convenient, yes. But that doesn't mean you should abuse that convenience.

Also, out of curiosity, why would you pay your major purchases in cash? Those are the ones that can noticeable improve your credit score and get you the most rewards. By paying in cash, you forgo those added benefits.

 

[Flipx99 5,000+ posts]

and that citi card also offers 5% back on gas with the card i linked to //content.invisioncic.com/y282845/emoticons/cool.gif.3bcaf8f141236c00f8044d07150e34f7.gif

well **** that sucks. but im getting one and i will be responsible because i cant afford not to be. and im not an impulse buyer. im not worried about that so everyone can stop saying ill go 6-10 gs in debt cause i wont. but i think im going to apply for that citi card.

one way to do that is to limit the credit line to something you are sure you can manage.

 

[lilmaniac2 5,000+ posts]

It can happen riding the forum boners....

lol, I mean seriously. In order to incur 5g in debt without any big ticket purchases you would have to eat out every meal every day

 

[Flipx99 5,000+ posts]

lol, I mean seriously. In order to incur 5g in debt without any big ticket purchases you would have to eat out every meal every day

depends...if the guy smokes, drinks, goes to club, tips well, etc....it will add up pretty quick. This is especially evident if poster carries the balance.

 

[lilmaniac2 5,000+ posts]

depends...if the guy smokes, drinks, goes to club, tips well, etc....it will add up pretty quick. This is especially evident if poster carries the balance.

true, I don't smoke or drink or go to clubs, so the only thing I spend money on is indulgences and food lol

 

[SSS 18734 5,000+ posts]

You **** at managing your life //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif
5g in a year, c'mon now

I'm going to take an $8,000 loan for my sophomore year. That goes on top of the $3,500 loan I took last year. 5G's isn't really that much.

Granted my loans are subsidized and I have already earned all the money I need to pay off my loans when I finish college.

 

[Flipx99 5,000+ posts]

true, I don't smoke or drink or go to clubs, so the only thing I spend money on is indulgences and food lol

i drink...but a lot less since I bought my house. I do a lot less of a lot since buying a house.

 

[lilmaniac2 5,000+ posts]

I'm going to take an $8,000 loan for my sophomore year. That goes on top of the $3,500 loan I took last year. 5G's isn't really that much.
Granted my loans are subsidized and I have already earned all the money I need to pay off my loans when I finish college.

ok? You borrow money for no reason? Loans are completely different than CC debt

 

[Flipx99 5,000+ posts]

ok? You borrow money for no reason? Loans are completely different than CC debt

I do; well for reasons. But mostly because I can borrow cheap.

 

[SSS 18734 5,000+ posts]

ok? You borrow money for no reason? Loans are completely different than CC debt

Not quite for "no reason." Since the loans are subsidized, I technically have to pay off less money in 3 years due to inflation. That, and I can use the money that I have right now to make more money via investments. That, and if I ever need to get a new car or incur some major "right now" expense, I have money on hand. That and when I do pay it off, my credit score will rise. Taking the loan benefits me.

Also, CC debt is a type of loan. The financing is done differently in that you don't have a set amount you are supposed to pay every month, but it is very similar otherwise.