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31 / F / Miami, FL
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Posted 10/3/07
Proud to say I have really good credit. Good thing to, as I'm changing jobs soon and am wondering about payments... >_>;;;
10051 cr points
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28 / F / Canada
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Posted 10/3/07
I got a credit card when I turned 18 and my credit rating is pretty good, I always pay off the entire thing every month and I'm pretty good at not spending too much money unless The Right Stuf is having a sale.
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21 / M / Boston
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Posted 10/3/07
Credit really only matters when you're applying for a loan of some sort.

Also having multiple credit cards with high limits is a good thing if you're responsible.

What do I know though it's not like I handle that sort of thing for a living...
Posted 10/3/07
i was working a good job and had got a few credit cards got alot of things then hurt my leg and was out of work no insurance took 7 months to get my surgery well my credit comapnys took advantege of me and made my simple bills turn insane my credits bad but it has no affect on my life since i dont have any big dreams or goals
28715 cr points
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28 / M
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Posted 10/6/07

Jesterj wrote:

@duster what are you stalking me or something, its kind of creepy that you would make this thread today and I would get a credit card offer today. Which I am probably going to turn down 'cause it doesn't state its actual interest rate or any monthly fees it may have.


Don't let credit cards find you - go out and shop around.

9840 cr points
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F
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Posted 10/6/07
Thanks DusterBayala! I'm sure it'll come in handy when I DO get a credit card soon. =] I've heard of this happening to other people as well. I sure feel smarter. ^_^
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59 / F / Melbourne
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Posted 10/6/07
DusterBayala, this is excellent advice. I have 2 credit cards, which i have had for years - I got them when I was in my 20s. I use them for the convenience of not carrying round a lot of cash and being able to buy online and over the phone easily. It does take a lot of discipline not to use them all the time for things i don't need, but I do use them responsibly. The reason I ended up with 2 instead of just one was because my first one could only be used in Australia, and I was planning to travel overseas. This meant getting a Mastercard as well as the Australian one.

It is disgusting the way banks target young people to apply for credit cards. Since my son turned 18 a lot of banks have contacted him trying to get him to sign up for credit arrangements which fortunately he saw were outrageous and didn't go along with.

Another trick banks use is once you have a card, they keep writing to you asking if you want to increase your credit limit. They keep asking me that and get pissed off when I don't. They are parasites. They don't care whether or not you can afford the credit.

I agree with DusterBayala that these things are probably best avoided, but it would be impractical not to have one sometimes. My advice to any young person contemplating a credit card would, as DusterBayala said, be to pay off as much as you can each month, or you will end up paying interest long after what you bought has been used up or worn out.
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F
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Posted 10/6/07
Would you say it would be better to have a credit card than not?
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31 / F / Philippines
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Posted 10/6/07
i do not like credit cards..because it is still a liability and i do not like that...
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30 / M / Japan
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Posted 10/6/07
Sadly, I'll be using credit to purchase my next lens... which is really the only conceivable way to buy something as expensive as lenses... unless I'm really hard pressed to save up for it in cash... but that would take too much time, and frankly, I can never save any more than a couple hundred dollars.

But what you said is true. Credit cards were only meant to purchase things when you are short-handed in cash... BUT ONLY NECESSITIES. If you don't have the money to, say, buy a new video game... there is no pressing need to buy it at the moment, so DON'T CHARGE IT to your credit card. But say you have to buy a book for your class and it's a requirement, but you don't have the money to purchase it at the time being, then buying it through credit is good ~ just make sure you can pay for it within the month, as Dusty said.

Actually, I think credit cards should not be issued to children that are not yet working, or, they can only have credit cards that are extensions of their parent's credit cards (so that their expenses can be tracked and put in check). I don't care what people say about kids learning by themselves... control and moderation alongside their parents is crucial, if not necessary. The last thing you want is for your parents to find out that you spent over a thousand dollars on stuff using your credit card. If my kid did that, I'd make them work for it just to teach them a lesson... but the best I would do is guide them so they don't make that mistake in the first place.

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28 / F / UK
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Posted 10/15/07
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F / CA
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Posted 11/6/07
not sure about mine just making credit cards payment on time....
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33 / M
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Posted 11/6/07
720 baby on credit score
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37 / F / Fort Meade, MD
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Posted 12/20/07

Hopchow wrote:

Credit really only matters when you're applying for a loan of some sort.

Also having multiple credit cards with high limits is a good thing if you're responsible.

What do I know though it's not like I handle that sort of thing for a living...


Actually that's REALLY bad for your credit, having a high liability on yourself for having multiple credit cards with high balances is terrible. Even if those cards don't have high balances, and just have high limits, that's also damaging to your credit score.
You would be suprised what all happens with your credit score.

Employers can look at your credit score and choose to not hire you because of bad credit.
The typical loans, as well as when you buy a house,
Your credit affects almost every large purchase you make.

You want to take care of it... TRUST ME!
58645 cr points
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21 / M / Boston
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Posted 12/20/07

Dusterbayala wrote:


Hopchow wrote:Quote

Quote


Having multiple credit cards with high limits in no way shape or form hurts your credit score if you are not using them. You deal with people with bad credit every day, I deal with people with phenomenal credit and the people lending them money I have some idea of how to handle money responsibly. Credit scores are based upon the chances that you'll become a financial liability to the lender in the future. On a side note banks are absolutely screwing you when they loan you money to buy a house or car it's absurd how much more you end up paying back over the duration of the loan.

You can easily bump a credit score 50 points by simply manipulating the finances you currently have if you know what you're doing.

Edited to save space.
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