I wanna get a credit card!

Ok I am 18, I have never had a credit card before, I am preety clueless to such terms as "credit score" and "APR" and whatnot, basically what I want to do is buy someting now and enjoy it while paying it off every month, without having to save up the cash for it and enjoy it a long time from now.

When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.Infinite-Zr0

[QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

If you want to get a HDTV, look for places that has like 6 months same as cash or no interest no payments for 6 months, or w/e.
If you're not being screwed over, which depends on who you buy from, you basically don't have to pay any money at all for the alloted time, but if you pay before the time is up, you don't have to pay any interest at all.

If you've never been in debt and you have any income at all, it shouldn't be hard for you to get approved for a card. Just make sure you can afford the payments.guynamedbilly

[QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.Infinite-Zr0

If you want to get a HDTV, look for places that has like 6 months same as cash or no interest no payments for 6 months, or w/e.
If you're not being screwed over, which depends on who you buy from, you basically don't have to pay any money at all for the alloted time, but if you pay before the time is up, you don't have to pay any interest at all.

[QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

My step mother wrote a book on maintaining good credit and now she helps people in person. A lot of people don't know what they canwrite off on their taxesor what they can dispute on their credit reports.

I'd strongly advise you to hold off on the luxuries. If you get a credit card don't even touch it unless you're in an emergency situation.

[QUOTE="guynamedbilly"]If you've never been in debt and you have any income at all, it shouldn't be hard for you to get approved for a card. Just make sure you can afford the payments.catlin_czirr

It really depends on who you get the card through and on which plan. I have $600 on a 0% interest card right now and the payment is only $10 a month.

[QUOTE="Infinite-Zr0"]

[QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

If you want to get a HDTV, look for places that has like 6 months same as cash or no interest no payments for 6 months, or w/e.
If you're not being screwed over, which depends on who you buy from, you basically don't have to pay any money at all for the alloted time, but if you pay before the time is up, you don't have to pay any interest at all.

I'm not sure which places do that though. I'm pretty sure Sams Club does it. A friend of mine bought a TV from Sams Club I think and they had a 6 month same as cash thing and he told me there were a few 1080p Samsungs there. But you have to have a membership to buy anything with them.
But if you can't find anyplaces that do that, I'd suggest just saving up the old fasioned way.

My step mother wrote a book on maintaining good credit and now she helps people in person. A lot of people don't know what they canwrite off on their taxesor what they can dispute on their credit reports.

I'd strongly advise you to hold off on the luxuries. If you get a credit card don't even touch it unless you're in an emergency situation.

trust_nobody

Well, in certain situations credit is a very useful tool. I've got a new card with 0% interest until Aug 2008 and it gives me 4% back on all gas purchases. I'm getting a 4% discount on gas and it isn't costing me a penny.

[QUOTE="trust_nobody"]

My step mother wrote a book on maintaining good credit and now she helps people in person. A lot of people don't know what they canwrite off on their taxesor what they can dispute on their credit reports.

I'd strongly advise you to hold off on the luxuries. If you get a credit card don't even touch it unless you're in an emergency situation.

guynamedbilly

Well, in certain situations credit is a very useful tool. I've got a new card with 0% interest until Aug 2008 and it gives me 4% back on all gas purchases. I'm getting a 4% discount on gas and it isn't costing me a penny.

[QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]

[QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.Infinite-Zr0

If you want to get a HDTV, look for places that has like 6 months same as cash or no interest no payments for 6 months, or w/e.
If you're not being screwed over, which depends on who you buy from, you basically don't have to pay any money at all for the alloted time, but if you pay before the time is up, you don't have to pay any interest at all.

I'm not sure which places do that though. I'm pretty sure Sams Club does it. A friend of mine bought a TV from Sams Club I think and they had a 6 month same as cash thing and he told me there were a few 1080p Samsungs there. But you have to have a membership to buy anything with them.
But if you can't find anyplaces that do that, I'd suggest just saving up the old fasioned way.

http://www.circuitcity.com/ccd/genericContent.do?oid=117632&c=1

[QUOTE="guynamedbilly"][QUOTE="trust_nobody"]

My step mother wrote a book on maintaining good credit and now she helps people in person. A lot of people don't know what they canwrite off on their taxesor what they can dispute on their credit reports.

I'd strongly advise you to hold off on the luxuries. If you get a credit card don't even touch it unless you're in an emergency situation.

trust_nobody

Well, in certain situations credit is a very useful tool. I've got a new card with 0% interest until Aug 2008 and it gives me 4% back on all gas purchases. I'm getting a 4% discount on gas and it isn't costing me a penny.

It's the Chase Freedom plan if anyone was wondering.

Ok I am 18, I have never had a credit card before, I am preety clueless to such terms as "credit score" and "APR" and whatnot, basically what I want to do is buy someting now and enjoy it while paying it off every month, without having to save up the cash for it and enjoy it a long time from now.

catlin_czirr

Dude, you're gonna go broke.

Seriously, stay away from that crap.

Credit cards are not meant for all people. And if you want to get one just so you can have stuff without having paid for it, I guarantee that having a credit card is going to get you into trouble.

And I'm not talking "I got caught smoking pot once" trouble either. I'm talking about "ruin the rest of your life" trouble.

I have a credit card. With this credit card, almost all charges have to be paid off within the month. Which is fine. Because if I can't afford to pay for **** I don't need within the next 30 days, then I shouldn't be ****ing buying it.

Even still, I try not to use my credit card AT ALL unless I have to. Because if I have the money to pay for it, I'll just pay for it. And if I don't have the money to pay for it and I don't need it, I shouldn't be buying it. ASnd if I don't have the money to pay for it but I DO need it, a credit card can be helpful.

But if I'm just going to use a credit card to buy **** when I can't afford it, I'd might as well not have one.

Seriously dude, do not **** around with your credit history. I'm serious. That crap can catch p with you. I can't count the nuimber of people I know who got into credit debt as teenagers, and ended up spending the rest of their lives getting deeper and deeper into debt, owing more and more money that they're never going to be able to pay off.

If you NEED a credit card, get one. But do not get a crediut card just because you want to "ay for stuff later". That attitude is going to **** you up, I promise.

[QUOTE="Infinite-Zr0"][QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]

[QUOTE="catlin_czirr"][QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

If you want to get a HDTV, look for places that has like 6 months same as cash or no interest no payments for 6 months, or w/e.
If you're not being screwed over, which depends on who you buy from, you basically don't have to pay any money at all for the alloted time, but if you pay before the time is up, you don't have to pay any interest at all.

I'm not sure which places do that though. I'm pretty sure Sams Club does it. A friend of mine bought a TV from Sams Club I think and they had a 6 month same as cash thing and he told me there were a few 1080p Samsungs there. But you have to have a membership to buy anything with them.
But if you can't find anyplaces that do that, I'd suggest just saving up the old fasioned way.

http://www.circuitcity.com/ccd/genericContent.do?oid=117632&c=1

Not really. I don't trust retailer's credit cards, I've been told in the past that those are bad news.
The one at Sam's Club you don't need to sign up for a credit card, but you have to have a membership with them.

[QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

Don't do it. DO NOT ****ING DO IT. Do not even THINK about it. That line of reasoning leads to people ruining their credit.

You don't need an HDTV, you can't afford it (which is whyyou want to use a credit card to get it, and pay for it later), so don't ****ing get it. It's as simple as that.

And if you really want it that bad, get a second job, work your ass off for the next few weeks, then put in your two weeks notice once you've earned enough to buy the TV.

But really...you CAN'T afford it now. So DON'T frwakingf buy it with a credit card. If you could afford it, you would've already had enough moneyh saved up in your bank account to just go out and buy one.

Don't do it, dude. I'm telling you, this is going to catch up wiht you.

Don't do it, dude. I'm telling you, this is going to catch up wiht you.

MrGeezer

Here is an example, my gf in a few years has racked up a credit balance of 5K:shock: when she told me it was way too late and the interst rate was killing her and she could barely pay off the minimum payment, i had to bail her out so now she is just paying me without the dumb interest rate. She has learned her lession.

So if I was to get a credit card I would need to pay the charge off in the first payment? I couldn't pay a certain fee every month until I fully finished paying it off ? ( the charge) catlin_czirr

[QUOTE="catlin_czirr"]So if I was to get a credit card I would need to pay the charge off in the first payment? I couldn't pay a certain fee every month until I fully finished paying it off ? ( the charge) Demon2545

That's correct. You can pay however much you want as long as it's more than the minimum payment. If you pay off the balance before the end of the first month, you don't pay any interest.

[QUOTE="Demon2545"][QUOTE="catlin_czirr"]So if I was to get a credit card I would need to pay the charge off in the first payment? I couldn't pay a certain fee every month until I fully finished paying it off ? ( the charge) guynamedbilly

That's correct. You can pay however much you want as long as it's more than the minimum payment. If you pay off the balance before the end of the first month, you don't pay any interest.

[QUOTE="guynamedbilly"]

[QUOTE="Demon2545"][QUOTE="catlin_czirr"]So if I was to get a credit card I would need to pay the charge off in the first payment? I couldn't pay a certain fee every month until I fully finished paying it off ? ( the charge) catlin_czirr

That's correct. You can pay however much you want as long as it's more than the minimum payment. If you pay off the balance before the end of the first month, you don't pay any interest.

it depends on a lot of stuff. your credit history, the credit company's policies, etc.

Ahh I get it now, I thought you were charged interest no matter what, say like if you ate at mcDonalds and used a credit card to pay for it, I thought youwere autonatically charged interest for your meal. Is the interest always the same for every credit card company? Or does it vary?catlin_czirr

You do realize that credit card companies are scum .... right? They hate people like me, because I just use it for the convenience....my debt is ZERO. It's the people who can't pay it all off that they make their fortune off of. That's their real target. Even if you've paid off 99% of your debt, you are still charged the FULL interest!!!

Don't get a credit card unless you can afford it. If you do, make sure that you don't use it for stuff you can't afford. The interest will eat you alive.

Any credit card company will tell you that their favorite customers are teens barely going into college. What happens is that they start using that card everywhere on anything and they just pay the minimum. After a while, the interest rate effs them up and they can't pay it off so who gets the bill? The parents.

So not only does the cc company get a teen to spend money, but they get the teen's parents to pay off their debt. It's a perfect situation for the company. An older person might buy a couple of things every now and then, but they don't accumulate that much interest.

But the person that cc companies really hate are those who pay everything off before the interest rate kicks in. They really really hate those people. So they try to get them to spend more by increasing the max and by increasing the amount of time between the purchase date and the day the interest starts to accumulate. This way, the person can forget about the interest rate and they might slip up a little.

I don't know if anyone has mentioned this but a debt card Alphawolf102

The tihng is that he wants to buy the stuff now without having to save up for it. A credit card is the only thing that can do that for him unless he gets a loan.

But the person that cc companies really hate are those who pay everything off before the interest rate kicks in. They really really hate those people. So they try to get them to spend more by increasing the max and by increasing the amount of time between the purchase date and the day the interest starts to accumulate. This way, the person can forget about the interest rate and they might slip up a little.

DeeJayInphinity

I acutally asked MC if they could drop my limit. I was worried about the dmg that a crook could do with my high limit (which I've never reached). They told me "No" :evil:

[QUOTE="DeeJayInphinity"]

But the person that cc companies really hate are those who pay everything off before the interest rate kicks in. They really really hate those people. So they try to get them to spend more by increasing the max and by increasing the amount of time between the purchase date and the day the interest starts to accumulate. This way, the person can forget about the interest rate and they might slip up a little.

fynne

I acutally asked MC if they could drop my limit. I was worried about the dmg that a crook could do with my high limit (which I've never reached). They told me "No" :evil:

They probably said no beacuse they can't trust you for whatever reason. Increasing the spending limit risks more of the companie's money.

[QUOTE="Infinite-Zr0"]When you're young and have no credit yet, only use your credit cards on things you usually pay cash for already. Things like gas and dinner. I'd highly recommend you do NOT buy anything expensive like a console or tv and things like that.catlin_czirr

the best way to go about gaining good credit with a credit card is to have the exact amount of money the item will cost before you buy it, that way you can immediately pay off the debt and have superb credit. and 2600 for an HDtv? man you can do better dont settle for anything less than 3k full price

Here's how CC work.

they offer you 0% interest until you rack up a good amount of debt, then they raise the interest, or the monthly payment. I was working for a loan company once and I'd have to ask people about why they missed payments on their Credit report. You wouldn't believe how many people had perfect credit up until they got a 0% card. They put a little bit on there see they only have to pay off $30 so they put a bit more on there, and all of a sudden their next min payment due is $300. Of course they can't afford it and then the CC charges them an overdue amount, and then due to the account being late they ramp up the interest to 20%.

If you're ever going to buy something major that you can't afford right now do it through financing with the store. Also watch out for the no payment no interest for 6 months/1 year since often if you don't pay if off before that time they'll still charge you for back interest.

As the saying goes "if it seems to good to be true, it probably is". Nobody is going to loan you money for free, they're always looking for a catch to make you pay extra, and the best best is finding out exactly how much extra you're paying right from the start, to the very end.

Now in your case if you spend $2000 on a new TV, and pay off $100 per month you'll end up paying about $400 extra in interest charges, and spend two years paying it back. Now imagine if get fired or hours cut, and you can't find a job right away. If you don't pay the minimum payment you'll get a ton of extra charges.

Now if you just save $100 a month for a year the price of the TV is likely to go down also, and you'll now have enough for the TV, and saved a ton of money.