credit cards
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Senior User
Joined: Jun 2003
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From: San Jose, CA
credit cards
i am 18 and i have a job. what is your opinion on credit cards? should i get one now to start my credit history? i know thats important. would a gas card be a good idea? does it count as credit history?
Posting Guru
Joined: Oct 2000
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I would recommend getting a credit card. Like you said it will help you build credit, just make sure you are able to pay your bill. I don't know much about gas cards, I can't justify having a credit card that can be used for gas only.
Anyways make sure you can pay your bill at the end of the month and don't use a credit card to pay for something that you can't afford.
Anyways make sure you can pay your bill at the end of the month and don't use a credit card to pay for something that you can't afford.
Cargo Master
Joined: Aug 2003
Posts: 3,237
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From: Belleville, Ontario
Your credit history is a record of your financial responsability. Resisting the temptation of impulse shopping knowing that you can "charge it" to your "Visa" may be difficult. A gas credit card on the other hand will help you build a credit history with minimal temptation. No matter wich way you decide to go, pay the entire bill every month and you will have a good credit rating.
Last edited by Dealford; Oct 18, 2003 at 04:59 AM.
Senior User
Joined: Sep 2003
Posts: 218
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From: Western Pa.
I, unfortunatly, started building my credit late in life. That kinda screwed a few things up in the past couple years. But now I've got SOME credit towards my name!!!
The only 'credit card' I have is a Visa check card. It works just as good as a credit card, at all the places a Visa is accepted, just can't use it if I don't have money in the account. Which can be a good or bad thing, but not a problem right now.
Like it's been said for a credit card, be sure to pay it off each month. Building GOOD credit early in life makes things MUCH easier later in life !!
I guess my answer would be... Yes, get a credit card, and use it responsibly.
As far as a gas card, some offer money back or free gas for using it. That's the only plus I see with them. Why not just use the credit card for gas !
The only 'credit card' I have is a Visa check card. It works just as good as a credit card, at all the places a Visa is accepted, just can't use it if I don't have money in the account. Which can be a good or bad thing, but not a problem right now.
Like it's been said for a credit card, be sure to pay it off each month. Building GOOD credit early in life makes things MUCH easier later in life !!
I guess my answer would be... Yes, get a credit card, and use it responsibly.
As far as a gas card, some offer money back or free gas for using it. That's the only plus I see with them. Why not just use the credit card for gas !
Posting Guru
Joined: Jul 2003
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From: Lenexa, KS
The earlier someone starts building their credit history the better. (Providing it's a positive credit history). Consider the Discover card, it pays you back a percentage of what you spend. Like the other posters said, use it responsibly, don't use it to buy things you can't afford.
Posting Guru
Joined: Nov 2002
Posts: 1,197
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From: mesa, az
...If you dont have any self control...stay away from credit cards.
simple as that....
..Start off with the debit card and if you can keep track of all the receipts and keep the register updated accurately for 3 months, then ya might be able to handle a credit card.
Get a low limit credit card...say $500....use it to pay for your online service...
Most people lie to themselves, "I'll only use it for emergencies...",
come to find out that there are a lot of loose interpretations of emergencies.
...Try this sometime...After paying your bills for the week or pay period, Take a $20 bill, put it in your wallet, and see how long you can go with out spending it...try for a week...
Also I guess if your gonna get burned, ya might as well do it when your young....Saves on the bankruptcy thing when ya get to be my age....
simple as that....
..Start off with the debit card and if you can keep track of all the receipts and keep the register updated accurately for 3 months, then ya might be able to handle a credit card.
Get a low limit credit card...say $500....use it to pay for your online service...
Most people lie to themselves, "I'll only use it for emergencies...",
come to find out that there are a lot of loose interpretations of emergencies.
...Try this sometime...After paying your bills for the week or pay period, Take a $20 bill, put it in your wallet, and see how long you can go with out spending it...try for a week...
Also I guess if your gonna get burned, ya might as well do it when your young....Saves on the bankruptcy thing when ya get to be my age....
Last edited by wabiker; Oct 18, 2003 at 10:51 AM.
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Senior User
Joined: Apr 2003
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i think the gas card is a good idea, while it is a credit card, and helps build your history, you cannot "splurge" with it. You can ONLY use it at the gas station, and there is not much you can do to go overboard at a gas station.... if you have a general credit card, you could use it to buy clothes, electronics, food, or anything... very easily could get out of hand..
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Gone but not forgotten.
Joined: Jul 2001
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I suggest an American Express blue card which is payable each month with no monthly payment option. There's a small yearly fee but no temptation. Say to yourself fifty times daily - Debt is BAD, Debt is BAD,................................ I also suggest ONE gas card which you pay IN FULL every month. Good Luck.
Dono
Dono
Posting Legend
Joined: Sep 2001
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Good advice here on the Amex card and paying it in FULL every month. I haven't paid a finance fee in many many years. A gas card is a good place to start and pay it off every month although a lot of them require that you pay in full every month.
A credit card is good when you start traveling for emergency car repairs , a tire, or a hotel, or even a rental car but you are too young for that yet... You will sleep better and travel with less worry. I got my first card for traveling.
When you establish credit get only cards that do not have an annual fee.
A credit card is good when you start traveling for emergency car repairs , a tire, or a hotel, or even a rental car but you are too young for that yet... You will sleep better and travel with less worry. I got my first card for traveling.
When you establish credit get only cards that do not have an annual fee.
Posting Guru
Joined: Aug 2002
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Yep having control over spending and paying off your tab are the most important things to remeber! Anytime you are looking for a card try to get one with no annual fee. I have 3. One that I use to purchase things off the internet, one just incase I ever need to rent a hotel room/ car/ etc, and one for Sears.. 
But I never buy anything unless I know I'll have the cash to pay it off when the bill comes. Another good way of building credit is finance your car, atv, etc. Yeah you will pay more with the interest charges, but you will be building good credit with your bank.
But I never buy anything unless I know I'll have the cash to pay it off when the bill comes. Another good way of building credit is finance your car, atv, etc. Yeah you will pay more with the interest charges, but you will be building good credit with your bank.
Postmaster
Joined: Nov 2000
Posts: 2,557
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From: Texas
Do not pay off a card in full every onth. This will actually hurt your credit "score" in the eyes of revolving creditors.
They can raise your APR or lower your limit just based on this score. They actually like to see you carry a balance. The best rule for credit cars is this: NEVER make a purchase you cannot pay off in three months. Period. This way the creditor makes a few bucks and you are using the account in good standing. Just make sure you pay off in three months before making another purchase.
They can raise your APR or lower your limit just based on this score. They actually like to see you carry a balance. The best rule for credit cars is this: NEVER make a purchase you cannot pay off in three months. Period. This way the creditor makes a few bucks and you are using the account in good standing. Just make sure you pay off in three months before making another purchase.
Posting Guru
Joined: Jun 2003
Posts: 1,854
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From: Des Moines, Iowa
i don't want a credit card, but got one to build my credit. i use it on everything, but just make sure i pay it off completly every month. saves me checks too. got a capital one visa. has good theft protection.