Just got my credit card because im.trying to build up credit.. got 300 secured
Will this shyt ruin me if i abuse it?
Will this shyt ruin me if i abuse it?
is that Credit card lifestyle any good?
- Thread starter Mr. Manhattan
- Start date
Only spend what you can pay back and keep your balance low. Do that and you should be good.Just got my credit card because im.trying to build up credit.. got 300 secured
Will this shyt ruin me if i abuse it?
BaldingSoHard
Banned
$300 limit on a secured card? I don't see how you could get in trouble with that.
Like first dude said, grown ups need credit. Inevitably, there will be someone who comes in here telling you you don't need credit, just buy all your homes with cash which makes perfect sense if you're wealthy or have inherited money. If not, make sure your credit is clean; you'll need it.
Like first dude said, grown ups need credit. Inevitably, there will be someone who comes in here telling you you don't need credit, just buy all your homes with cash which makes perfect sense if you're wealthy or have inherited money. If not, make sure your credit is clean; you'll need it.
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I want to use it on key necessities like gas and food... say i spend 100 my first 2 weeks.. how soon will i have to pay it back and how much would i owe
Depends, you could pay it back the next day and it will go towards your statement.
I think CC companies do a 28-30 day billing cycle. Let's say you spend $120 that billing cycle. When your due date nears you could pay the $120 off (which is recommended to avoid interest) or the minimum paymeny which is usually $25.
I think they give a 14 day grace period after the due date before they charge late fees.
humble forever
All Star
find out your due date and make the transfer like 2 days prior. sometimes it can take more than a day to transfer. In general it's once a month almost always on the same day
kudos on your secured card, doesn't hurt to have a cd growing even if it's only a little bit.
see if your bank has an app and just watch your balance and what you have due. it's pretty easy in 2015
see if you can save $3-5k this year. next year start up your roth ira. you can take 10k out no penalty towards a down payment on your house. or just save money for kids, but do something with it
http://etfdb.com/index/sp-500-index/
it'll give better returns than a cd and you can pull your money if you really need it
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lol @ grownups needing credit cards. We need student loans too right? All that debt is good for a grownup. Keeps them in the rat race.
idk cuz i don't have a credit card. But if i was you i would be careful with that. Messed with a a female who had to work a second job at mcdonalds to try and put a dent in her credit card debt.
idk cuz i don't have a credit card. But if i was you i would be careful with that. Messed with a a female who had to work a second job at mcdonalds to try and put a dent in her credit card debt.
Clark Wayne
Superstar
It's great if you don't act like a idiot with them.
Treat them like you would a debit card and watch the rewards stack up.
My Discover It card is my main card and it gives me 1% cash back on all purchases and 5% cash back on certain purchases every 3 months. For example from April to June I get 5% cash back on movie theater purchases and food as well.
Treat them like you would a debit card and watch the rewards stack up.
My Discover It card is my main card and it gives me 1% cash back on all purchases and 5% cash back on certain purchases every 3 months. For example from April to June I get 5% cash back on movie theater purchases and food as well.
humble forever
All Star
do you know your credit score? when you're older do you want to purchase a home? rent a nice apartment? buy a nice car?
BaldingSoHard
Banned
You should do what OP did. Get a secured card, start building credit history, learn how to avoid the pitfalls of debt. It will come in handy.
... you can build credit without a credit card. There is no reason you should be okay with actively hustling backwards month to month. That is exactly how they trap you in the rat race. "i don't have money for these jays till next week, guess i'll just use my credit card and stay in servitude forever, herp derp"
humble forever
All Star
having a credit card and being responsible with it improves your credit score. that's all
"i don't have money for these jays till next week, guess i'll just use my credit card and stay in servitude forever, herp derp"
that's not a responsible way to use a credit card. thanks for the outstanding example
. but yes that is the danger of having a line of credit. using it irresponsibly, or using it when you're desperate because you've lost your job or whatever. that's how people get into real debt. luckily with a secured card you can usually pull your cd and pay almost the entire thing off. you will lose some money on the cd though, they create penalties to discourage doing thisyou can truly benefit from credit cards breh. you just need to be smart and vigilant. it can seem like an unnecessary pain, but in the end it can be a net gain
Credit cards are useful when used correctly. Alot of them have built in fraud protections and other benefits.
How do people book hotels, plane tickets and such without one?