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Old 12-16-2008, 10:49 PM   #1
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Default For those of you with credit cards...

What's your interest rates? I got a new offer today, 0% till 2010, and after that 7%.
Right now, I have 2 credit cards, One with 21% and the other is 0% up too $250, after that its like 15%.

I really am considering this new card. I can get 0% on balance transfers too.
Would 3 credit cards be bad? I don't think it would as long as I don't max them all out
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Old 12-17-2008, 12:06 AM   #2
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Default Re: For those of you with credit cards...

You really don't need more than one. Two cards would be pushing it, unless you do a lot of buying. Just stick with two for now. You need to get more information than just the financing, such as any fees (hidden?).
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Old 12-17-2008, 12:24 AM   #3
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Default Re: For those of you with credit cards...

There are no fee's, Unless you add the health protection. No annual fee.

My credit score, is pretty amazing for my age. Im just under my Dad. So I dont see how getting another card is going to hurt. This one is better than my current cards.
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Old 12-17-2008, 05:45 AM   #4
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Default Re: For those of you with credit cards...

I wouldn't even get a credit card, 1 is bad enough, unless you can afford to pay those angry debts, I don't even understand why you'd need one at your age, or even at your place, I mean, do you travel? work alot? buy alot of things?

I don't understand why you just can't get a bank account and get a $150 limit, so you can borrow $150 from your bank and repay when ever you can.
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Old 12-17-2008, 07:59 AM   #5
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Default Re: For those of you with credit cards...

Debit, that's what I use. Credit is great, if you know how to use it. Buying a car or home on credit is a really great idea, and investing your money you saved, instead of buying up front. But in todays economy...
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Old 12-17-2008, 08:54 AM   #6
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Default Re: For those of you with credit cards...

Quote:
Originally Posted by Antdemo View Post
I wouldn't even get a credit card, 1 is bad enough, unless you can afford to pay those angry debts, I don't even understand why you'd need one at your age, or even at your place, I mean, do you travel? work alot? buy alot of things?

I don't understand why you just can't get a bank account and get a $150 limit, so you can borrow $150 from your bank and repay when ever you can.
Having a credit card and using it responsibly is a great way to build credit (as it sounds like the OP already has been doing) and be able to get a loan for a car or house when the time comes and get a lower interest rate. In my opinion, if you are good at saving money and responsible with the card there is no issue with having it. However, if you spend money you don't have then you are better off not having one because you will just damage you credit horribly. I have a couple cards, 1 through my bank I use regularly and pay off every month (to get rewards points ) and my best buy card that I used to get my tv and fiancee's computer because it was interest free for 18 months. It's all about being responsible, and they are also great if an emergency comes up as well.
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Old 12-17-2008, 09:31 AM   #7
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Default Re: For those of you with credit cards...

you can get a loan and a car without a credit card, just goto the bank, hi, may I have a loan, sure , it's all about how much salary you bring in to get that loan.

and I ment theirs no point having one if your young, I'm sorry but noway I'd let my kids get one.

I know what a credit card is, I see statements all day everyday
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Old 12-17-2008, 09:37 AM   #8
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Default Re: For those of you with credit cards...

You couldn't stop your kids - they have to be an adult to get a loan in the first place!
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Old 12-17-2008, 09:41 AM   #9
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Default Re: For those of you with credit cards...

16 actually an adult is 21.

college kids get loans, I seen it before, friend gets one with credit card, dumb bitch goes over limit, dumb bitch ows bank 2,5k grand, pfft. what can she get now? nothing. credit cards are useless for young people unless your smart and earn alot.

I understand it's fine to get one when your 21+ maybe.

Then again this is just me saying it, I heard advice from my bank when I went into the interview, even tho she is ment to try and pull people towards the bank to get these cards but she told me about her kids and their problems and all this, she just told me some advice and said it's better to just get a maestro and a overdraft limit.
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Old 12-17-2008, 10:49 AM   #10
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Default Re: For those of you with credit cards...

Actaully Antdemo, i have yet to see someone with NO credit, walk into a bank and they have them a check for $10 grand.its not all about how much you make. That person will need some sort of credit. How do you get it? Credit cards, and bills that are under your name. When i bought my car, the bank demanded i have a co signer, When i bought my truck, they pre approved me with no problem.

Getting a student loan is different, that is government funded. Government gives those out according to the students needs. I have a student loan as well.

Quote:
Originally Posted by xtremezx2 View Post
Having a credit card and using it responsibly is a great way to build credit (as it sounds like the OP already has been doing) and be able to get a loan for a car or house when the time comes and get a lower interest rate. In my opinion, if you are good at saving money and responsible with the card there is no issue with having it. However, if you spend money you don't have then you are better off not having one because you will just damage you credit horribly. I have a couple cards, 1 through my bank I use regularly and pay off every month (to get rewards points ) and my best buy card that I used to get my tv and fiancee's computer because it was interest free for 18 months. It's all about being responsible, and they are also great if an emergency comes up as well.
Well said!

I am just wanting a new card with lower interest. But i am not sure if having 3 is a good idea. The average household has 8.
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