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 suburbanned
Stranger
Registered: 02/20/08
Posts: 2,810
Last seen: 2 years, 9 months
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 Credit Card? 
#10278816 - 05/03/09 05:18 PM (4 years, 21 days ago) |
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I'm 18 and will be going to college next fall. I was thinking of getting a credit card to use solely for gasoline, with plenty of funds to back the amount of gas I spend in a month. Would it be wise to get a credit card and to pay it off every month to start building good credit?
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schutzemdown
Waste of Space
 
Registered: 01/06/09
Posts: 4,048
Loc: The Hoosier State 
Last seen: 2 years, 3 months
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ONLY if you can control spending and manage payments. Othewrwise don;t do it.
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Money can't buy you love, but it can buy you drugs.
Try practicing safe sex and go fuck yourself!
AMU
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 automan
blasted chipmunk
Registered: 09/18/03
Posts: 6,720
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I am in my 30s and have never owned a credit card or taken a loan. To me, the downside to too large to ever go into debt.
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No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Re: Credit Card? [Re: automan]
#10280317 - 05/03/09 10:09 PM (4 years, 20 days ago) |
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I am in my late 20s and use my credit card for everything. I carry no debt, have received $500 cash from my credit card for 'bonus points' and have spent zero on interest. Also, it has built my credit to the upper 700s. What is the downside again? None if you have self control.
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,162
Loc: [life]now[/life]
Last seen: 1 year, 6 months
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Exactly same story here. I love it.
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automan
blasted chipmunk
Registered: 09/18/03
Posts: 6,720
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I've been in some very VERY tough spots in my life. Times when we went months eating nothing but potatoes and drinking tap water... and our tap water SUCKED. If I had a credit card, I would be very deep into debt right now from just those times. I wouldnt have lived high on the hog or anything... but I would have bought groceries.
Now I am in a much better place in my life. I own 2 profitable businesses, have a wife and kids, and did it all without borrowing a single penny. I would like to live a life debt free and am on my way to doing it.
I'm glad it works for you. You have come out ahead for it. I wouldn't have been able to.
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No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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Revolutionine
number9..number9..num
Registered: 11/16/08
Posts: 532
Loc: Everywhere
Last seen: 9 days, 21 hours
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Re: Credit Card? [Re: automan]
#10340254 - 05/14/09 10:57 PM (4 years, 9 days ago) |
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I got a rewards card too and only use it to buy gas and pay it off every month so I don't get killed with interest. Every now and then I get $50 back using my points and have built up good credit. As long as you don't get charge crazy and pay it off every month I think it is a great idea.
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Smoke weed everyday
All I ever wanted was to be free,
and in the end that's how it turned out to be
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o O
Stranger
Registered: 11/04/08
Posts: 102
Last seen: 2 years, 2 months
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isnt the trick to go and pay what you used before the month to prevent
interest and not touch the atms?
See i did the exact opposite, i thought it would be cool to
get a credit card and buy a shit load of weed to sell
Got 300 out of the atm (first mistake i made)
100 for an o
50 for a scale
50 on miscellaneous
Got set up by a "home" boy and got jumped for everything (oh i live in detroit)
I had nothing after that, no re-up money, not even money to pay back
credit lendors so i couldnt pay it straight back before the interest
period. I started payin like 20-50$ a month 10$ was minimum and i was still goin backwards in debt.. dont let me forget to inform you all that it was a 300 credit line card too.
I have chase bank call both jobs 5 times a day, my house countlessly, and i don't know how they know im there too but they call my friends
crib alot too. I gave up payin for a while, let em rack!
i just cant wait till they start garnishing my wages 
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I make signatures for spores!!
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soochi
Chef
Registered: 08/13/02
Posts: 2,349
Loc: The Richest County
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Don't do it. Not sure about this but most credit card issuers have a limit on how much you can spend at gas pumps on some periodical basis.
But seriously, don't. Get a part time job and pay for things in cash. Wait till your out of college with a secure job and some savings. Your student loan payments alone help build credit, assuming of course you have loans and that you pay them on time each month. I was actually told by my fathers accountant not to purposely overpay my loans. Banks want to see that you can be responsible with payments being on time and student loans are actually categorized as "good debt" as opposed to credit cards and car loans.
The temptation to spend is just too much especially in College and especially at your age. Be responsible and take into account the current financial condition of our country. Sacrifice, keep it under an eighth a week
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Wee, sleeket, cowran, tim'rous beastie,
O, what panic's in thy breastie!
Thou need na start awa sae hasty,
Wi' bickering brattle!
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automan
blasted chipmunk
Registered: 09/18/03
Posts: 6,720
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Re: Credit Card? [Re: soochi]
#10352635 - 05/17/09 12:25 PM (4 years, 7 days ago) |
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No, no, you're not thinking, you're just being logical. ~ Niels Bohr
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JohnnyConverse
Stranger
Registered: 04/10/09
Posts: 268
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Re: Credit Card? [Re: o O]
#10355702 - 05/17/09 11:24 PM (4 years, 6 days ago) |
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Quote:
o O said:
isnt the trick to go and pay what you used before the month to prevent
interest and not touch the atms?
See i did the exact opposite, i thought it would be cool to
get a credit card and buy a shit load of weed to sell
Got 300 out of the atm (first mistake i made)
100 for an o
50 for a scale
50 on miscellaneous
Got set up by a "home" boy and got jumped for everything (oh i live in detroit)
I had nothing after that, no re-up money, not even money to pay back
credit lendors so i couldnt pay it straight back before the interest
period. I started payin like 20-50$ a month 10$ was minimum and i was still goin backwards in debt.. dont let me forget to inform you all that it was a 300 credit line card too.
I have chase bank call both jobs 5 times a day, my house countlessly, and i don't know how they know im there too but they call my friends
crib alot too. I gave up payin for a while, let em rack!
i just cant wait till they start garnishing my wages
If they are turning you over to collection, let them - debts in collection are actually held to lower interest vs active cards.
To the OP - using credit wisely is a skill. If you think you can pick up and learn this skill, you should. The fact that you're making a thread about it implies self-doubt of that to me, but you're your own boss.
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I wasn't an activist until I got put in jail. I sat there in jail seeing what was really going on in America and something changed. Now when people say, "Tommy what was jail like?" I say "You'll see" -- Tommy Chong
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