Hey guys I'am a incoming freshman and I have some questions for you all about credit cards.
If those of you who have credit can you manage it well while in college?
Do you you debit instead?
Is it best to pay for books with credit?
If you guys have more advice beyond these questions feel free 2 post them!!!
I have had a credit card, but only cause my mother paid for it...I would suggest that if u have decent job while working at school and u and have a low spending limit on ur card, its ok to have. You can make a monthly $10 payment which is a ok but the interest rates are gonna kick in which isnt so great...But if your parents are in a good finanical standing and have good credit see if they will look into gettin u one and yall make an agreement to how much u can spend every month, and they take care of that bill...if EITHER of those options arent available to you, then I would suggest to stickin with a debit card. Cause atleast you know those funds are presently available in ur checking account. Its just a VERY VERY VERY bad idea to get caught up in the scam of gettin credit cards from companies that come to ur campus soliciting themselves to you so u can fall trap. I have TOO many friends who already have HORRIBLE HORRIBLE credit, and its just gonna catch up to them when they need to take out loans to buy a home or car and get denied or have SUPER high interest rates, amongst other things. And depending on how bad your credit is it can take years to rebuild, so be very conscious of dealing with ur finances...especially at this age cause its easy to get those cards that give u a $1000 limit upfront and wanna use them...but you gotta be smart. I tore up all the cards I ever got from those places so I would never be tempted to use them...I would just sign up with the companies to get the free t shirt, lol...
there's no scam when it comes to credit cards. People just think it's easy money. They spend more than what they make which is why they have bad credit. I suggest you get yourself a credit card but you will have to be responsible with it.
You should build your credit now so you can be approved for getting a apartment, car or house once you graduate..
I don't plan on ever getting a credit card...just debit...
and you don't need a credit card to build credit...that's a myth...I have a whole notebook with financial tips ...
I don't plan on ever getting a credit card...just debit...
and you don't need a credit card to build credit...that's a myth...I have a whole notebook with financial tips ...
i dont know...i dont have a credit card neither, but never getting one? i mean there are things you might wannt to buy that you dont have the money for, but you know you can make payments...such as a down payment for a car....
there's no scam when it comes to credit cards. People just think it's easy money. They spend more than what they make which is why they have bad credit. I suggest you get yourself a credit card but you will have to be responsible with it.
You should build your credit now so you can be approved for getting a apartment, car or house once you graduate..
You right about that, only thing I wouldnt suggest is you tellin her to get a credit card and she not establish a way upfront of how she is going to pay it back. Thats a trap people fall into. They say well Ill use it and worry about it later by the end of the month they get that bill and still have no money...ONLY GET THE CREDIT CARD IF YOU KNOW FOR A FACT THAT YOU WILL HAVE THE FUNDS TO PAY IT OR YOUR PARENTS WILL...Dont make any rash decisions and just get it.
Sir ThunderBonez06 wrote:
I don't plan on ever getting a credit card...just debit...
and you don't need a credit card to build credit...that's a myth...I have a whole notebook with financial tips ...
err um...how do u build credit without a credit card??? lol. I have known people to never use a credit card and basically pay cash for everything, not very typcal but people do it...But if you never have a credit card, how are u beuilding credit?
err um...how do u build credit without a credit card??? lol. I have known people to never use a credit card and basically pay cash for everything, not very typcal but people do it...But if you never have a credit card, how are u beuilding credit?
Take out a loan from your bank then re-pay it. Repeat, over and over and over.
Get a cable bill. Pay it early and often.
It's odd I'm reading a book dedicated to preparing finances for the future. You do want to get a credit card. True, those credit cards that they try to offer you in your first year of school are rip offs if you're irresponsible with them. They have horrible interest rates, but they do the trick. They help you establish that you can be extended greater amounts of credit and pay it back. True, a cable bill or electric bill can help too. Why not pay the electric bill with the credit card and take money from the checking account to pay the credit card bill.
err um...how do u build credit without a credit card??? lol. I have known people to never use a credit card and basically pay cash for everything, not very typcal but people do it...But if you never have a credit card, how are u beuilding credit?
Take out a loan from your bank then re-pay it. Repeat, over and over and over.
Get a cable bill. Pay it early and often.
yep. Well my credit is shot to hell. Some how when I was 16 credit cards came in my name and well yall know how that went. I'm working to have everything straight by the time I graduate.
