I just graduated HS and I'm getting a lot of credit card applications and 'pre approvals' in the mail now...and I have a few questions about them... First off, I wont charge up 50 credit cards to the max with pizza deliveries or anything like that, but the fact is that a person needs to establish some sort of credit in order to get cars financed and other things down the line. So I was wondering what some good credit cards are for young people and what one should look for when applying for a credit card. Here are a couple of my questions: What is a good interest rate for a young person? and What are some companies that wont try to pull BS with you about late payments when you really aren't late? If you guys have any other advice, please help me out...
my advice is to go to a bank and take out a loan for 500-1000 bucks and pay it back $1000 bucks worth of Blue Chip stocks would probably pay off very nicely
I would get one credit card with a max of 500 dollars and then go spend it all on the ladies. Always pick out girls that have on lots of make up and think they are a princess. They're the type you're looking for, trust me. Then buy them something expensive. Next, she will stop respecting you. Repeat the process until you've maxed out the five hundred dollars. If you pay attention to my advice, you will not need to go to college. You will actually save much money in the long run from what you have learned from your first credit card. Also, do not pay off the credit card until you have maxed it out. Failure to let your payments go may increase your credit limit and may prolong your education in life. signed, Actually N. Bitter III
start with a credit card from a department store, Foley's, Sears... something along those lines. Buy one thing, like $50... pay it off immediately. Then sit back and watch the flood gate of even more credit card apps roll in!! If you can find a card with a permanent rate of 9.9% (and they ARE out there, my Yahoo card is 9.9) or less than 15% stick with that one. Just don't go and max it out. Do you have a job? You will need a job to pay off your credit card, if your parents are going to pay for it, well... more power to you. To be truly responsible, you'll need to pay off your own credit cards. Good luck and be careful cause once you start charging stuff up, you could potentially dig yourself a big hole and there's nothing like the feeling of being inundated with bills!!! Being in debt, sucks! Oh and unless you pay your bill off at the end of the month, don't charge food. Why charge something and pay interest on it if you are going to deficate it tomorrow? Just my 2ยข... and judging from around here, that's about all my opinion is worth!
0% or it shouldn't matter because you'll be paying them off completely every month. There's no reason to start out bad in life by getting into debt. Use a credit card for convenience ("I don't want to carry $500 or blank checks on me"), not "'cause I don't have the money right now". That being said, I don't know too much about credit cards... I only have 2 and of those, I rarely use 1 of them, and don't carry over any debt month-to-month. ...I'm so cool
SirCharlesFan...one of the worst mistakes you could possibly make would be to get a charge card without having an income to pay for whatever you charge. Wait at least until you join the workforce, and then think twice about it. Credit card debt can ruin you if you let it get out of control.
Only use a credit card when you can pay it at the end of the month. If you carry no balance month to month, you don't get charged interest. You get a very good credit rating this way.
I remember getting my first credit card at the age of 19 ...American Express.... It took me 8 years to get out of debt...as college and credit cards spiraled one after another. Credit cards are evil....evil....EVIL !!! Pay them off each month, that is the only way. DaDakota
DaDa and others, why did it take you so long to get out of debt? I had a step brother that made big purchases with his credit cards about once every year or so when he was in college and he seemed to do fine. He'd buy a computer or something and put it on his charge card, pay it off over a few months, then repeat the process...
Don't do it. Your credit will be just fine once you graduate, especially since you can get a lot of deals for recent grads. Hell, I had horrible credit, but was still able to buy a car from Ford. You'll be tempted to use it more than you can. I thought I'd just use mine for certain purchases, then pay it off, but I got addicted. I noticed my bank account was staying the same while I was buying cool stuff. Then the bill came, and it said $1,000 or $15. Of course I paid the $15. Before I knew it, I was $15,000 in debt. Don't do it.
Falling into a big hole of debt is very easy while you're in college. Before you know it your minimum payments are stretching your college budget to the limit. Be careful. That being said, it will never be easier for you to get a credit card than it is now. They LOVE giving those things to college students. So get one, but use it SPARINGLY. Pay it off ASAP, and never allow yourself to be more than a couple hundred bucks in debt. You have to set yourself a debt cap or it becomes easy to max them out.
