+1 to Selma's post.

I had 3 credit cards, from 2 banks and had available credit of about $8000 amongst the three.

I used them and paid them off and built up my credit history, then got into some problems when I went back to school and stopped working. It sucks having these assholes calling you all the time getting you to pay interest on interest on interest because you didn't or couldn't pay the full balance.

Another truth about credit cards: The bank gets paid wether you pay or you don't, all loaned money is insured and they will get their money either from you or the Bank of Canada (in the US: Federal Reserve Bank)or both + interest.

They are a scam, there is NO need to own one unless you rent a lot of cars (the only thing a pre-paid credit card wont get you is a car rental).

Get a pre-paid card from Mastercard, one that you can load up online, you'll love yourself for both the convinience and peace of mind.

It's what I've done, I use it constantly and I don't worry about nasty bills or debt collector assholes at the end of the month.

My sister went mega-oober-wtf-default on one of her Visa cards and now whenever she gets a pay check, she loses like 10% or 15% or something until the balance is paid, not to mention all 9 trillion phone calls from dickheads she got in the past few years.

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Originally posted by JD8180 i don't believe in that. i just use my credit card as if it was a debit card. i never spend more on it than i do have cash. even if the card has 0% interest for the first 2 years or w/e.

Smart. Thats the best way to use a card, if u don't have the funds to pay for the item/trip, etc, don't use the card till u do.

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Originally posted by JD8180 i don't believe in that. i just use my credit card as if it was a debit card. i never spend more on it than i do have cash. even if the card has 0% interest for the first 2 years or w/e.

Not everyone is as responsible as you.

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Originally posted by chach What about building credit though?

specific questions? ill answer as much as i can, but i dont know what youre asking that i havent answered already.

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Originally posted by JD8180 i don't believe in that. i just use my credit card as if it was a debit card. i never spend more on it than i do have cash. even if the card has 0% interest for the first 2 years or w/e.

youre smart, but as i said earlier, if you have never had a revolving balance, that doesnt show the credit reporting agencies that you know how to manage credit. this will be reflected in your credit report.

also for those that dont know, if you MUST have a balance on your credit card, assuming you have had this card for 2+ years, do everything you can to steer clear of more than 50% of the total available credit limit on the card.

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Originally posted by bas Dual exhaust tips on dual exhaust = QUAD EXHAUST = 300 gain in horsepower. Duh

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Originally posted by bas Undies with a dickhole aren't good for guys. Your balls can get caught in them. That's why I prefer to go over the gate instead of through the fence.

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Originally posted by gehzumteufel paying them off will be good, but just paying it off and never using it again does NOT help your score. the card has to be used here and there. also after 2+ years of having a credit card and having payments on time for at least 6 months, preferably 1yr+, your credit rating will improve. do not get more than 2 credit cards. anymore than that is usually deemed excessive for your income (unless you make 100k+ every year consistently for 2+ years then you can have more than 2) and will HURT your credit rating. also try to NEVER have more than 50% used on a card. this hurts your credit rating also. if you have to for a few short months thats ok, but dont do it for extended periods longer than 3-4 months. it will hurt your credit rating.

Yup Im still using them......I only have two now had three before....Third one is paid off and now sitting somewhere in garbage dump in itsy bitsy pieces......Thanks for info though

The best way to build credit, is to take out a small loan, and let the money sit in your accound and be taken back by the bank.

You will have to pay a bit in interest but it's worth the awesomeness it gets you with the credit bureau.

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Originally posted by JD8180 i don't believe in that. i just use my credit card as if it was a debit card. i never spend more on it than i do have cash. even if the card has 0% interest for the first 2 years or w/e.

That's my plan. I already use my debit card like it was cash.

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Originally posted by Alex The best way to build credit, is to take out a small loan, and let the money sit in your accound and be taken back by the bank. You will have to pay a bit in interest but it's worth the awesomeness it gets you with the credit bureau.

thats not really that true. the reason being is that once the loan is paid off, its done. it doesnt effect your credit rating anymore. this is why a revolving balance on a credit card, even if its just $100-200 every month, actually does improve your credit rating.

umair: did you cancel that card!? if not, you better call right away. not using a card doesnt cancel it. most companies will leave it open for years in hopes you will use it.

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Originally posted by bas Dual exhaust tips on dual exhaust = QUAD EXHAUST = 300 gain in horsepower. Duh

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Originally posted by bas Undies with a dickhole aren't good for guys. Your balls can get caught in them. That's why I prefer to go over the gate instead of through the fence.

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Originally posted by Enigmatik Not everyone is as responsible as you.

That's your fault, not the card's.

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When bread becomes toast, it can never go back to being bread again.

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Originally posted by gehzumteufel i am 100% sure on those things. your bank account, in general, doesnt affect your credit rating itself very much. it just shows that youre in good standing and that you have had it open for x length of time. the ONLY time your bank account has a real effect is if you are constantly in the negative, it has been opened for a short amount of time (less than 6 months), or you have a history of bad checks. your credit report does always show the current (at the time the agency last polled your bank which can be anything from 1 to 45 days ago) balance.

i meant "account" as in your credit card account

i hear they tap in to your credit card account to see what your balance is at a specific point in time. so if your statement comes out on april 25th, and by april 23rd they happen to tap into your cc account and you have $xx amount balance, then to them it seems like you have a balance. that is how i was taught, and like i said i'm sure paying it off entirely will not boost your score quickly, but it will go up slow and steady.

if your over 18yrs old and havent recvd any kind of PRM from credit grantors, i highly suggest start checking your credit. make sure your not mix with someone else ssn. Once every a year, FCC provide free credit report from all three bureau pending on what state your located.

here what you should do to build excellent credit score with using credit cards.
1. Only use 25% of your credit limit.

2. Make sure you have activity every month on your credit card. example: pymnt on time (( doesnt have to be paid in full ballance, but more than minimum bal. )),and debit activities.

3. Maximum credit card you can have would be 3. if you have more than 3credit card, and other not being used. I highly suggest cancelling them, that will effect your fico/beacon score also. majority of the time good outstanding C.C. will remain to your credit report within 7-10yrs. Bad C.C. will remain to your credit report for 5-7yrs.

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I got soul, but I'm not a soldier.