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 Posted: Fri Jun 23, 2006 12:36 am
What do some of you guys that actually have credit know about it?
And what advice can you give a 19 year old with no prior credit history?
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Posted: Fri Jun 23, 2006 1:39 am
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Posted: Fri Jun 23, 2006 2:00 am
Yes. Credit and Credit cards. xd
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Posted: Fri Jun 23, 2006 2:18 am
I would steer clear of that. My firend has a credit card, and he always seems to be paying it off. Seems like too much headache to me.
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Posted: Fri Jun 23, 2006 7:13 am
Yeah, there's absolutely no reason for a credit card. Especially when a bank card can do anything a credit card can do, except put you in debt.
As for credit ratings, no, I don't really know much about that.
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Posted: Fri Jun 23, 2006 8:10 am
Seriously, stay away. I have two credit cards now.
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Posted: Fri Jun 23, 2006 9:11 am
I actually am for credit cards, and for good reason
I dunno where your standing in life are, but I'll just assume you're in college right now. By the time you get out and get a real career, if you never had a credit card, you'll have no credit history so insurance companys/car insurance companys don't know whether to trust you or not sad
My advice is to get 1 credit card and buy a few things in one sitting and pay it off normally. Don't pay it off all at once because credit analysts are looking to see if your ability to take care of your credit in an organized and timing basis. In short, they wanna see how responsible you are
Building good credit will help you out in the long run. You're 19, you're an adult, so the world expect you to act like one
btw, the irony is when you do what I just stated, it only boosts your "good credit" only by a little bit. And more ironic is when you try and buy a house they'll want to see credit better than that, but once you establish good credit with a new home your good credit will jump more. I know, it's a bit messed up, but those are the breaks neutral
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Posted: Fri Jun 23, 2006 9:14 am
Father Knows Best ~ I actually am for credit cards, and for good reason I dunno where your standing in life are, but I'll just assume you're in college right now. By the time you get out and get a real career, if you never had a credit card, you'll have no credit history so insurance companys/car insurance companys don't know whether to trust you or not sad My advice is to get 1 credit card and buy a few things in one sitting and pay it off normally. Don't pay it off all at once because credit analysts are looking to see if your ability to take care of your credit in an organized and timing basis. In short, they wanna see how responsible you are Building good credit will help you out in the long run. You're 19, you're an adult, so the world expect you to act like one Even that is dangerous. If you don't use your credit card enough, some companies will actually give you bad credit. I'm just never going to deal with credit cards. The people responsible for them have come out and said in interviews that they were created specifically to screw people over.
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Posted: Fri Jun 23, 2006 9:16 am
Omnipotent Trevor Father Knows Best ~ I actually am for credit cards, and for good reason I dunno where your standing in life are, but I'll just assume you're in college right now. By the time you get out and get a real career, if you never had a credit card, you'll have no credit history so insurance companys/car insurance companys don't know whether to trust you or not sad My advice is to get 1 credit card and buy a few things in one sitting and pay it off normally. Don't pay it off all at once because credit analysts are looking to see if your ability to take care of your credit in an organized and timing basis. In short, they wanna see how responsible you are Building good credit will help you out in the long run. You're 19, you're an adult, so the world expect you to act like one btw, the irony is when you do what I just stated, it only boosts your "good credit" only by a little bit. And more ironic is when you try and buy a house they'll want to see credit better than that, but once you establish good credit with a new home your good credit will jump more. I know, it's a bit messed up, but those are the breaks Even that is dangerous. If you don't use your credit card enough, some companies will actually give you bad credit. I know, but the whole point is your ability to estabilish good credit with your life. It's hard and takes work, but in the long run it'll help you out Omnipotent Trevor I'm just never going to deal with credit cards. The people responsible for them have come out and said in interviews that they were created specifically to screw people over. Messed up system isn't it? Well, welcome to life wink
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Posted: Fri Jun 23, 2006 9:33 am
um just make sure what ever you buy you can pay it of when you buy it. intrest can be a b***h
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Posted: Fri Jun 23, 2006 9:48 am
White Wolfs Nocturne um just make sure what ever you buy you can pay it of when you buy it. intrest can be a b***h Exactly. You'll never find yourself swimming in debt if you're on top of your payments. How can you be on top of your payments? Don't buy anything you can't afford. Simple enough. As the good Father said, you need credit history. Need it. Credit cards are dangerous, but not if you control it. Life = responsibility. There's no way to avoid it.
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Posted: Fri Jun 23, 2006 12:16 pm
Father is right. I wanted to steer clear of credit problems early. So when I started working aorund 16 I didnt establish credit even when I could. [cosigner] But now I want a new 06 Altima or a 94' 300zx and I need credit so the APR on either car wont go over the roof. I figured that its the best time to est. some kind of credit. So when i move out and get my car [next month, so excited] the interest rates wont be so high and paying it off. biggrin
Any more advice on credit? heart
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Posted: Fri Jun 23, 2006 12:45 pm
My dad somehow manage dot put like 7,000 dollars on a Discover card, which overtime accumulated to over 14,000 dollars over time in interest and crediters kept coming to the door and calling us trying to get us to pay it. Which totally destroyed our credit.
Though my brother used to work for telemarketers, he learned if you avoid a company for more then 3 years. They will leave you alone. We took the easy way out and just changed our phone number. wink
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Posted: Fri Jun 23, 2006 12:58 pm
you actually do not need a credit card to raise or affect your credit raiting
your Credit can actually go down if you apply for a card and are denied
the easiest way to raise yoru credit is set up something with a reacuring bill that is tracked and make your bill payments regularly and on time to help raise your credit
things like Cell phones are an easy way to do this since you can pick a rate plan that fits your needs and budget.... it might cost a deposit to set up but is one of the easiest ways to affect your credit
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Posted: Fri Jun 23, 2006 2:05 pm
Well any means of boosting up good credit is fine, but you gotta stay on top of your payments like a hawk
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