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Credit Cards
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| ::TranceVanDyk:: |
i need to build my credit, so i researched and applied for
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Discover® Student Clear Card
0.00% intro APR for 6 months on purchases!
No Annual Fee.
Up to 5% Cashback Bonus® at Select Locations*
Up to 1% Cashback Bonus® on all your other purchases. 100% Fraud Protection, 24/7 Easy Online Account Management. Cool, Clear Design.
Intro APR Intro Period Ongoing APR Annual Fee Credit Limit Grace Period
0.00% 6 months 16.99% (V) None N/A 25 days
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this is the best one ive seen so far. what are your experiences with credit cards? |
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| klingklang77 |
credit cards are evil!
is this your first card? b/c there are much better offers out there, like 8-11% APR and 1 year no interest. |
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| tubularbills |
get gas cards. or anything basically that gives rewards back.
for my BP card, i got 6% back on all BP gas purchases, and 3% back on all other gas for the first 3 months. after that it went to 3%/1%. during that promotional period as well, any other purchases [non-gas] were 3% back. and now 1%. it's a great way to get at least $20 in gas cards if you spend enough [esp. in the promotional period].
i also have an amazon card too and they gave me $30 off my first purchase from amazon. so that was cool.
other cards i've gotten through my bank accounts; so there's no return...but they have higher credit limits and it is nice to have one directly attached to a bank account. |
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| lücid |
| quote: | Originally posted by tubularbills
i also have an amazon card too and they gave me $30 off my first purchase from amazon. so that was cool. |
that's the whole reason i opened my acct with Amazon Chase, and now i've got over $5,000 charged on it. :wtf:
but... it's just about the only card i have debt on now, because the APR is so low for balance transfers. the other one that i have debt on is being paid off as soon as i get my tax returns.
i would recommend getting a credit card and using it, but making sure you pay it off on time right away every month. this way you'll start establishing credit and a good credit score. after a while, you'll start getting credit card offers left and right. lots of them will offer low APRs, and 0% APR for 6 months or a year on purchases and balance transfers.
i've had credit cards since i was 16, and i have about 4-6 credit cards now... probably about $30,000 credit line between all of them combined, with about $6,000 charged to them. i forget what my credit score is, but it's pretty good... better than normal for people my age i believe.
just make sure you make your payments on time and don't lose track of how much you're spending. read the fine print when applying for new cards and pay attention to your statements every month. credit cards can be very convenient, but they can also be a pain in the ass if you don't know how to use them responsibly. |
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| THE_Chris |
Always pay off a credit card the minute you get the bill. Then you dont get stiffed for any interest. Dont buy stuff unless you KNOW you can afford it.
That was a Credit Card can be a blessing, not a curse :) |
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| tubularbills |
| quote: | Originally posted by lücid
that's the whole reason i opened my acct with Amazon Chase, and now i've got over $5,000 charged on it. :wtf:
but... it's just about the only card i have debt on now, because the APR is so low for balance transfers. the other one that i have debt on is being paid off as soon as i get my tax returns.
i would recommend getting a credit card and using it, but making sure you pay it off on time right away every month. this way you'll start establishing credit and a good credit score. after a while, you'll start getting credit card offers left and right. lots of them will offer low APRs, and 0% APR for 6 months or a year on purchases and balance transfers.
i've had credit cards since i was 16, and i have about 4-6 credit cards now... probably about $30,000 credit line between all of them combined, with about $6,000 charged to them. i forget what my credit score is, but it's pretty good... better than normal for people my age i believe.
just make sure you make your payments on time and don't lose track of how much you're spending. read the fine print when applying for new cards and pay attention to your statements every month. credit cards can be very convenient, but they can also be a pain in the ass if you don't know how to use them responsibly. |
yeah, that amazon card is awesome. and my BP Card is w/ chase too. so i really only use those two cards. online billpay is sooooo nice.
i've had cards since i was 17. my first one was just a $200 limit capital one that my parents co-signed. and when i turned 18 they took it off. but it was enough to help start my credit and now my score is in the 700s.
and really, if you have a low interest rate, then it's not that bad to get charged an extra few bucks a month.
what sucks is when you have annual fees. screw that noise. |
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| Floorfiller |
| i haven't made the switch yet, but i'm planning on switching over to a Bank of America checking account and credit card. i really like some of the new products their advertising like the one that rounds up to the next dollar and puts the change into your savings account...that's an awesome idea. |
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| dj_kane |
| their evil id stay away. i was in debt for a year. |
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| verndogs |
| quote: | Originally posted by ::TranceVanDyk::
i need to build my credit, so i researched and applied for
---------------
Discover® Student Clear Card
0.00% intro APR for 6 months on purchases!
No Annual Fee.
Up to 5% Cashback Bonus® at Select Locations*
Up to 1% Cashback Bonus® on all your other purchases. 100% Fraud Protection, 24/7 Easy Online Account Management. Cool, Clear Design.
Intro APR Intro Period Ongoing APR Annual Fee Credit Limit Grace Period
0.00% 6 months 16.99% (V) None N/A 25 days
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this is the best one ive seen so far. what are your experiences with credit cards? |
if you can pay back everything full every month, then it's worth it |
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| Coup |
| quote: | Originally posted by verndogs
if you can pay back everything full every month, then it's worth it |
he wont build his credit doing that. |
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| Omega_Blue |
| quote: | Originally posted by Coup
he wont build his credit doing that. |
true dat
First of all, 0.0 APR for 6months is . and then 18.99% interest is . possibly try to get a CC from your bank? they might offer you better interest rates. i'd shoot for 11-14% since it's your first card, and hope for 8% or lower (which is doubtful)
From what my buddy tells me, the way to build credit is to spend no more than %50 of your credit limit, and keep a balance between %35 and %50 at all times.
for example, if your credit limit is 1000, don't spend any more than 500 unless you absolutely NEED to. and then make sure you keep your balance between $500 and $750. if you pay it all off right away, you won't build any credit. you gotta keep a balance to build credit, but if you keep a balance of say (in the example) $100, and only pay the minimum $10 payment every month, it hurts your credit.
Also, i don't know if this is true or not, but if you plan on buying a motorcycle or something, i hear you should buy it with a credit card if possible, because supposedly the CC company HAS to fully insure your vehicle until you pay it off. just a little FYI |
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| getfoul |
| quote: | Originally posted by Coup
he wont build his credit doing that. |
I was hoping someone would chip in with this. Paying off in full = showing you are not capable of making payments. Which translates into a poor credit score.
Pay all but 50 or so off. |
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