my first credit card

[BizzleLuvin]

CHA-CHING!
its only a $500 limit but its another small step into adulthood. it feels kinda weird, like i almost dont trust myself with something as serious as a credit card.

[Skink]

use it wisely grasshopper...

[birdgirl73]

Congrats. But Skink's right. They're dangerous things. The only plastic people really ought to use is a debit card. Pay it off so you don't ever carry a balance. Credit card companies ought to be in jail, they're so evil. I know, you've got to build credit somehow. But just do it without paying those interest rates. Interest is for earning, not paying.

[typoerror]

burn it. just burn it....

[BabyFacedAbortion]

Credit cards are HORRIBLE.

Debit is the way to go.

[BizzleLuvin]

i promised myself i would use it for emergencies and for things that i absolutely positively need that i cant find off the internet......like that $200 ROOR little sista icemaster I have had my eyes on....LOL. its tempting

[BabyFacedAbortion]

oooh, I dunno. I think if I had a credit card I'd have a closet full of smoking utensils and another closet full of DEBT lol. It's okay to splurge a little but don't go too far. You're too cool to be fucked over by credit card companies.

[ericwt]

Aaaaaaa another consumer to enslave in dept.

Somewhere a businessman goes to bed with a smile on his face.

I hope you are careful with it.

[birdgirl73]

Yeah, that's the problem with them. They're tempting.

My son has a friend at college who got a credit card. Then another. Then another. Then another. The kid is a compulsive spender anyway, pretty much. He ran up the maximum balances on all of them. The kid is a junior in college and has $38,000 in debt on credit cards (he has some investment income, which is why he managed to get that amount of credit, but not nearly enough to cover that). It's nuts. We're constantly checking to find out if he's come clean with his parents yet, which he apparently has not. It's going to be a sad day when he does.

I learned my lesson long ago with credit. I opened an account and got a card for my younger sister, who'd stiffed a health club fee and couldn't get credit at the moment. The limit on that card for her was $1,000. Which she ran up in about three weeks. Then she promptly quit her job and was without income, and I was stuck with that bill. She eventually paid me back. But it was a hard lesson learned.

These two stories are why I believe in debit cards only.

[LuckyG]

Aw c'mon! Just do what I did and go out and buy a bunch of shit! Just make sure you have enough money in the bank to pay it off right away. :thumbsup:

Edit: Before anyone yells at me, I was kidding. Be responsible with that thing.

[BizzleLuvin]

i would prefer the debit card as well because it is not imaginary money. its money that you actually have that you have worked for. when i was younger i thought we could solve poverty by just making more money. then i realized how much of the money we use is intangible. we actullay buy money, we buy imaginary value, we spend money to get money. i think that monetary trade; attaching value to paper to create a system of intangible expenditure for goods instead of barter and exchange of tangible goods for creates this imaginary bubble of power, excess and rampant greed...among other things.

[napolitana869]

I'm going to get my first credit card soon. I just opened up a checking account. I feel kind of behind the curve for my age group but having the financial responsibilities of an adult is a scary concept

[Skink]

Credit is a beautiful thing if you master the concept...

[anomalousirrelivance]

imho credit is a system used by the govt to keep the general population subservient.

once you have established your credit, which is relatively easy you can buy things that would normally take years to save for, instead you spend those years paying it off while enjoying the thing you would have saved for.

this makes the desirable things in life obtainable but only if you maintain a job and some stability (which requires staying in one city usually and holding the same job)

so it ties people up.

now if you actually worked and saved all that money before you got the thing you wanted you would pretty much without a doubt invest in something more worthwhile. instead of buying a car you would put it into an investment account, instead of a toy hauler and a bunch of toys that all lose their value instantly and rapidly you might build a house.


but thats just how i see it.

and i have over $8k in debt at age 19. :D;)

[thcbongman]

You definitely have to spend within your means. You should carry cash, because you feel it more spending it than swiping a card. Credit card companies make money hoping you slack. That's why you should always be on top of it. As soon as the bill cycle changes it, pay the bill, to insure you get no late, interest or finance charges. If there is ever a time you have to make a big purchase that you'll have to pay over time, budget your money. Very important to keep track of your finances. It sounds hard, but it really isn't, use restraint.

[Junk_Bandit]

be careful, i wish i had never got my credit card. but at least it has built my credit to a really good rating.

[slipknotpsycho]

my grandma is still in bankruptcy and trying to sort shit out from credit cards.... she filed for bank ruptcy the first time like over 10 years ago i believe....

credit card companies aren't there to make money from those who pay every month or off intrest.... they're there to make their money by screwing over the percentage who screw up...

[nightlight]

CHA-CHING!
its only a $500 limit but its another small step into adulthood. it feels kinda weird, like i almost dont trust myself with something as serious as a credit card.
That shit makes me nervous. I can hardly handle keeping money in the bank.

[PHATTY LUMPKINS]

Hey some freindly advice. use it once or twice a month. small purchases. pay them off every month. And in six months your credit score will go up and so will your limit's. but dont be fooled it's not free money, it has to be payed back. BE SMART ABOUT IT!! And welcome to growing up.

[OreO]

Credit is a beautiful thing if you master the concept...


ya i have great credit, and it seems that credit is more valuble than actually money, sometimes you can have the money to buy whatever you want but you also need good credit. and for some, bad credit holds them back from many things.

I only use my credit for gas(if i have nocash on me) and little things like food.

My guideline that i follow is: If i want to buy something with the credit card, i have to have enough money in the bank, So I know i can pay it off.

Good luck:thumbsup:

[cambam]

Noooooooo, get rid of it, seriously.

I am 22, I have had 3 cards since 18. I am in 6G's worth of debt, and I have just paid my last bills. The cards got cut up a year ago. I will still be paying if off in 3 years time. This is leaving me with fuckall money to spend on myself. I have got 3 jobs to try and clear my debt.

Get a debit card instead, its still plastic, and is still spendable, providing you already have the money.

[Staurm]

Don't trust yourself with it. I thought I could handle one once, but my first credit card turned out to be my last. I quit my job and ran away to India for 6 months. I now have a bad credit rating. Don't do it.

[LIP]

I've got a few credit cards - but i hardly ever use them just incase i go overboard. I cant stand being in debt. I prefer cash in hand.