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That's true. Also, your own bank will know that you have money coming into your account and is more likely to be willing to give you a credit card.
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Credit Cards.
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I have also heard a lot of caution lately about using a debit card freely. If it's your main bank account, a theft or something could clean you out.
Credit cards are necessary to hold a room these days, if you don't get to your destination in time and a card isn't holding the room, you are out of luck.
Debit cards are great also, but pay attention or you'll get overdrafts and then the overdraft protection kicks in which is basically credit with interest. There are no free rides.
Credit cards are like chocolate, too much is bad, the right amount is actually good. Paying off the card each month is the best way to handle it and getting a good credit score is one great benefit. Did you know insurance rates and a host of unrelated things are linked to your credit score? Getting behind in credit payments will end up costing you more than just interest.
If you are a member of a credit union, check that out, they usually have low or no yearly fee and lower percentages. Shop around, don't jump at the first offer, there are huge differences in percentages charged and a lot of it has to do with your credit score.
Stay away from eBay and online shopping if you don't have a lot of self discipline.
Debit cards are great also, but pay attention or you'll get overdrafts and then the overdraft protection kicks in which is basically credit with interest. There are no free rides.
Credit cards are like chocolate, too much is bad, the right amount is actually good. Paying off the card each month is the best way to handle it and getting a good credit score is one great benefit. Did you know insurance rates and a host of unrelated things are linked to your credit score? Getting behind in credit payments will end up costing you more than just interest.
If you are a member of a credit union, check that out, they usually have low or no yearly fee and lower percentages. Shop around, don't jump at the first offer, there are huge differences in percentages charged and a lot of it has to do with your credit score.
Stay away from eBay and online shopping if you don't have a lot of self discipline.
I gotta agree, if you don't have credit cards, don't get them now. I got my first credit card through Citicard, which I love, low APR and great customer service, and they gave me a very large limit and I went hog wild with it. Then I got another card, then another, then another, then another. LOL. I've finally got some paid off and closed out, but I've learned my lesson. Credit cards aren't free money and the bills come rolling in awfully fast.
All this talk about credit cards tempts me. I, at age 21, have never owned a real cradit card, due to family drilling it my brain that they are no good.
I would go through the bank, and get something that way. Some kind of card, a debit card I think they call it. That's your best bet. Just money, that you know you have, and will spend it like as if it were cash.
I gave in one day, and got a kohls card, because I go there so much, and the discounts rock. But, Unfourtunatly, I do not have that anymore. lol. I just really dont know how it happened, but I spent the whole card in like 3 trips, and am still paying it off. NO NO NO!! I should have just listened. But, I havent gotten myself into a Visa, or Mastercard, or anything yet. I really really do want to, but it's just not practical for me. I just am so bad.
I would go through the bank, and get something that way. Some kind of card, a debit card I think they call it. That's your best bet. Just money, that you know you have, and will spend it like as if it were cash.
I gave in one day, and got a kohls card, because I go there so much, and the discounts rock. But, Unfourtunatly, I do not have that anymore. lol. I just really dont know how it happened, but I spent the whole card in like 3 trips, and am still paying it off. NO NO NO!! I should have just listened. But, I havent gotten myself into a Visa, or Mastercard, or anything yet. I really really do want to, but it's just not practical for me. I just am so bad.
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Yes, I have declared bankruptcy TWICE ... fifteen years apart ... and finally learned at the ripe old age of way too old that credit cards are NOT for me.
(It took a lot out of me to "out" myself on this, so I'd really appreciate it if nobody posts about what a loser deadbeat I must be.)
CREDIT CARDS ARE A TRAP. The banks love them because they can rake in interest off the 90 percent of people who keep a revolving balance on them. Merchants love them because people spend more when they are buying on credit -- it's only human to think something is "free" when you're not actually laying out any hard cash.
IF YOU USE CREDIT CARDS, YOU ARE PLEDGING TOMORROW'S MONEY FOR TODAY'S NEEDS. As long as you spend ahead of what you are earning, you will never be free.
The ONLY instance in which I would recommend having a credit card is if you have the self-discipline to pay off EVERY CENT, EVERY MONTH. And if you can afford to do that, you really don't need to be using credit anyway.
Learn to save for what you want instead of the "buy now, pay later" trap. Put things in layaway if you want the "thrill" of making payments. LOL
People today WANT too much. Americans want to drive big cars but complain when gas prices go up. We build bigger and bigger houses, with space on a scale unheard of in other parts of the world. The advertising industry makes billions of dollars to guarantee that we are never happy with what we have -- we've got to have MORE, and the newest of everything to boot. If you buy into their message, you will never be happy -- and if you spend to keep up, you will never be free.
It IS possible to go on vacation using cash only. And you will certainly be happier not coming home to a bankcard statement that sentences you to months of payments.
(It took a lot out of me to "out" myself on this, so I'd really appreciate it if nobody posts about what a loser deadbeat I must be.)
CREDIT CARDS ARE A TRAP. The banks love them because they can rake in interest off the 90 percent of people who keep a revolving balance on them. Merchants love them because people spend more when they are buying on credit -- it's only human to think something is "free" when you're not actually laying out any hard cash.
IF YOU USE CREDIT CARDS, YOU ARE PLEDGING TOMORROW'S MONEY FOR TODAY'S NEEDS. As long as you spend ahead of what you are earning, you will never be free.
The ONLY instance in which I would recommend having a credit card is if you have the self-discipline to pay off EVERY CENT, EVERY MONTH. And if you can afford to do that, you really don't need to be using credit anyway.
Learn to save for what you want instead of the "buy now, pay later" trap. Put things in layaway if you want the "thrill" of making payments. LOL
People today WANT too much. Americans want to drive big cars but complain when gas prices go up. We build bigger and bigger houses, with space on a scale unheard of in other parts of the world. The advertising industry makes billions of dollars to guarantee that we are never happy with what we have -- we've got to have MORE, and the newest of everything to boot. If you buy into their message, you will never be happy -- and if you spend to keep up, you will never be free.
It IS possible to go on vacation using cash only. And you will certainly be happier not coming home to a bankcard statement that sentences you to months of payments.
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I agree with everyone about the dangers and pitfalls of using credit cards. I also got in trouble with credit cards maxing out, although I was fortunate and managed to clear it up without declaring bankruptcy.
But, there are still things that you might want to do that require a credit card. I went without for many years, and then broke down and got one. I use it for booking hotels and airline tickets, usually online, where there are significant discounts for paying ahead with a credit card. And I use mine for online purchases of things like computer software upgrades (like for my Symantec virus protection software).
However, I use it like a debit card, I always pay ahead, so if I am booking a hotel room for $300, I go and pay $300 on my card, so it stays at a $0 balance. That takes discipline.
There are also places that don't take debit cards, like a few restaurants, and having a credit card is handy as a back up.
But, there are still things that you might want to do that require a credit card. I went without for many years, and then broke down and got one. I use it for booking hotels and airline tickets, usually online, where there are significant discounts for paying ahead with a credit card. And I use mine for online purchases of things like computer software upgrades (like for my Symantec virus protection software).
However, I use it like a debit card, I always pay ahead, so if I am booking a hotel room for $300, I go and pay $300 on my card, so it stays at a $0 balance. That takes discipline.
There are also places that don't take debit cards, like a few restaurants, and having a credit card is handy as a back up.
I've had a bankrupcy too, so I do understand how easy it is to get in way over your head. And the credit card companies make it even easier. Mine happened when I was making $19,000/year pre-tax. I had 2 cards with limits of well over $20,000. Great idea to give someone young and starting out that much "play" money.
While I agree with everyone that credit cards are evil and truly a tool of the devil
it is very hard to build a proper credit history without one. I would just strongly advise that if you get one, to do like everyone is saying pay it off at the end of the month! This is an excellent way to build a great cedit report, but it is also the fastest way to mess it up too
Speaking with experience credit cards have evolved over time. When I graduated college (1979) I could not and did not have a credit card for several yrs. Why?? At that time the institutions granting them had income requirements that I did not meet. I had however dept store credit cards.
We have one main cc we have another to cancel as we were issued one through sears when we bought our washer and dryer with no pymts for 1 yr. When we rebuilt DH workshop we opened a home depot card for the rebates offered. BUT we also pay ours off EVERY MONTH!!!!! We also do some floating on it-if you are buying a bigger ticket item say a TV and you know your cut date on your card we try to purchase a couple of days after the cut date. We will then have longer use of our money in the savings acct before we PAY OUR BILL IN FULL!!!!! I say whatever works!!! I think a trap that is out there is when CC offers you a rebate if you spend so much money at their store or "special offers" (these are dept store cc) If you aren't paying those balances off there is no "savings"!!!
Its nice to have on for emergencies just don't carry it with you when you are at the mall!!
We have one main cc we have another to cancel as we were issued one through sears when we bought our washer and dryer with no pymts for 1 yr. When we rebuilt DH workshop we opened a home depot card for the rebates offered. BUT we also pay ours off EVERY MONTH!!!!! We also do some floating on it-if you are buying a bigger ticket item say a TV and you know your cut date on your card we try to purchase a couple of days after the cut date. We will then have longer use of our money in the savings acct before we PAY OUR BILL IN FULL!!!!! I say whatever works!!! I think a trap that is out there is when CC offers you a rebate if you spend so much money at their store or "special offers" (these are dept store cc) If you aren't paying those balances off there is no "savings"!!!
Its nice to have on for emergencies just don't carry it with you when you are at the mall!!
I guess im just weird. Yes i have had my share of credit cards but NEVER MORE for ANY REASON AT ALL.
You do NOT need a credit card to book hotel rooms or flights or anything else-- As long as you have a debit card with a Visa/Mastercard logo'd and the money in your bank account you can do anything with it that you can with a credit card. Believe me, I have booked many many flights, and hotel rooms on my debit card.
As far as needing it to build a credit history thats BS too-- if you have a stable place of employment, have paid your bills on time and dont have way too much debt you can buy pretty much anything including a house or a car. You dont have to have credit to live in the USA contrary to most of Americas opinion.
Our house runs solely on cash. Every penny has a name and if its used up, well we are out of luck until that gets replenished next budget period. This system works best for us. I honestly cant even imagine having another credit card.
Anyway thats JMO as always.
Amity
You do NOT need a credit card to book hotel rooms or flights or anything else-- As long as you have a debit card with a Visa/Mastercard logo'd and the money in your bank account you can do anything with it that you can with a credit card. Believe me, I have booked many many flights, and hotel rooms on my debit card.
As far as needing it to build a credit history thats BS too-- if you have a stable place of employment, have paid your bills on time and dont have way too much debt you can buy pretty much anything including a house or a car. You dont have to have credit to live in the USA contrary to most of Americas opinion.
Our house runs solely on cash. Every penny has a name and if its used up, well we are out of luck until that gets replenished next budget period. This system works best for us. I honestly cant even imagine having another credit card.
Anyway thats JMO as always.
Amity
