credit cards

Adionik · Post by **Adionik** » Sun Nov 04, 2007 10:36 pm

Okay...i'm 18. I want a credit card to charge a TV this coming black friday. Does anyone know where I can get one that won't screw me over too bad? I'd liek to charge atleast a $1,000.

I'm getting a financial aid check in january, and I have around $500 cash...so I wouldn't have a balance for longer than January.

What ya think??

Post by **racer12306** » Sun Nov 04, 2007 10:38 pm

There isn't going to be a place that will give you a low interest rate. You are high risk for them.

The only way it could work for you is if you were able to find a card that offered you 6 months or a year without interest.

Fuzzyneon · Post by **Fuzzyneon** » Sun Nov 04, 2007 11:17 pm

try thats store for there credit card ussually youll have swete financing offers i know at circuit city we offer 6 months no interest on tv always somtimes up to 18 months so i would check into that too

MyNeonSaysHi · Post by **MyNeonSaysHi** » Sun Nov 04, 2007 11:19 pm

Don't get a credit card unless you pay off the balance every month. Thats what I do anyways... 0% interest FTW when you do that. PLUS it raises your credit score.

I don't know if you guys have Nebraska Furniture marts out there but they offer )% financing for like 2 years on anything over $500.

Look into getting a credit card from a store that offers 0% interest on purchases from their store for a certain period of time.

Adionik · Post by **Adionik** » Sun Nov 04, 2007 11:40 pm

Fuzzyneon wrote:try thats store for there credit card ussually youll have swete financing offers i know at circuit city we offer 6 months no interest on tv always somtimes up to 18 months so i would check into that too

Yes but you have to qualify for that.

I have NO credit...so I wouldn't obviously.

I can pay the balance off quickly, I just don't want to get screwed....

Post by **racer12306** » Sun Nov 04, 2007 11:47 pm

Its going to be hard for you to get a card with a limit of much more than a few hundred dollars because you have no credit. Having a co-signer will help.

03blackrt · Post by **03blackrt** » Sun Nov 04, 2007 11:50 pm

Have your parents co-sign if you can, it's the only resonable way to get kinda good rates.

But high credit card rates arn't the only thing that'll screw you, finacialy speaking

Being young with low/no credit rating = FTL

Adionik · Post by **Adionik** » Sun Nov 04, 2007 11:59 pm

03blackrt wrote:

Have your parents co-sign if you can, it's the only resonable way to get kinda good rates.

But high credit card rates arn't the only thing that'll screw you, finacialy speaking Being young with low/no credit rating = FTL

Yeah...i'm really not sure how to go about this.

I've been meaning to get a CC to try and build up my credit, but I don't like the idea of mailing shit off. Maybe i'll get it linked to my checking account or something...

Post by **racer12306** » Mon Nov 05, 2007 12:02 am

call one of the companies.

Best bet would probably be to check through your local bank that your checking is through. may not be the best rate, but you might get a higher limit.

another thing to think about is...
Will the amount of interest that you will be paying on the balance of the card be more than the difference of the sale price and the regular price.

For instance...
Regular price = $1100
Sale price = $1000
Interest = $150
actual sale price = $1150, might as well buy it in cash for the regular price.

dodge_girl · Post by **dodge_girl** » Mon Nov 05, 2007 12:30 am

Im sure its different in the states but here its almost impossible to get a credit card with more that a $500 limit if your have no credit, Ive had mine for about a year i make every payment and only been late once and they wont even raise my limit to $1000

jT · Post by jT » Mon Nov 05, 2007 12:40 am

whatever you do dont go wild and get out of control

at 18 i got a $1000 co-signed credit card, it didnt take long to F up, i'm 26 now and still have not paid off the balance (plus interest, penalties, etc etc) that had gone to a collection agency and to court

that, among other things, has left me in a shit hole and i should just use my remaining cash to buy a gun in the ghetto and off myself

if you do end up getting a credit card and find yourself getting out of control with it, lock that card away somewhere and give the key to your parent(s) to hold. in this world nowadays you cannot have a bad credit score and its very easy to screw up at 18 and youll pay for that for a long time (just like insurance rates and speeding tickets).

Adionik · Post by **Adionik** » Mon Nov 05, 2007 12:43 am

jT wrote:whatever you do dont go wild and get out of control

at 18 i got a $1000 co-signed credit card, it didnt take long to F up, i'm 26 now and still have not paid off the balance (plus interest, penalties, etc etc) that had gone to a collection agency and to court

that, among other things, has left me in a shit hole and i should just use my remaining cash to buy a gun in the ghetto and off myself

if you do end up getting a credit card and find yourself getting out of control with it, lock that card away somewhere and give the key to your parent(s) to hold. in this world nowadays you cannot have a bad credit score and its very easy to screw up at 18 and youll pay for that for a long time (just like insurance rates and speeding tickets).

Yeah man i'm scared to fuck it up...but I know I can take care of myself financially.

I applied at Bank of America, which is my bank...i'll see what they give me. But you're right about factoring in that APR money. I only need around $500, even at that.

Chibits12 · Post by **Chibits12** » Mon Nov 05, 2007 8:52 am

Just start with a credit card with a $300 credit limit maybe from Chase or Bank of America. If you pay on time and raise your credit limit to an awfully high amount, just keep the limit low.

Credit card companies are greedy crooks. Just don't fall into a credit trap and you'll be fine. Credit is not money, it's a liability.

Post by **Diablo0** » Mon Nov 05, 2007 9:16 am

You can usually go to your local bank that you bank with and have one of your parents co-sign on a credit card for you. That was the easiest way I could get a credit card to build credit. I couldn't get approved for anything a few years ago, not even a Shell Gas card since I didn't have any credit. I had my Mom co-sign for me on a credit card which gave me my foot in the door and my bank was running a 6 months no interest card.

teamliviD · Post by **teamliviD** » Mon Nov 05, 2007 10:11 am

Dont do it. Credit cards are bad!! Go to Wal-mart and put that shit on lay-away if you cant buy it.....

Crashin · Post by **Crashin** » Mon Nov 05, 2007 10:24 am

Chibits12 wrote:Just start with a credit card with a $300 credit limit maybe from Chase or Bank of America. If you pay on time and raise your credit limit to an awfully high amount, just keep the limit low.

Credit card companies are greedy crooks. Just don't fall into a credit trap and you'll be fine. Credit is not money, it's a liability.

Only bad thing about having a low limit is if you have a balance of more than 1/2 your limit it starts hurting your credit...

Mr Josh Zombie · Post by **Mr Josh Zombie** » Mon Nov 05, 2007 10:26 am

I've had a credit card for two years, maxed it out GOD knows how many times, and have no problems paying it off. I have a thousand dollar limit on it too.

I'm just not stupid with it and know what i can and cannot afford. Be smart and you're fine.

The only way a credit card can hurt you is if you don't understand the concept of "nothing in life is free"

yellowpatrol · Post by **yellowpatrol** » Mon Nov 05, 2007 10:38 am

Best Buy has 6 months no interest on their card. You'll need someone to co-sign but then you're set.

MoxHair · Post by **MoxHair** » Mon Nov 05, 2007 10:39 am

hmm... i'm not going to say my credit debt.. lol i only have two cards though

go through your local credit union. They typically have the lowest rates. I have a 6% interest card and a 5% interest Card. Both Cards are through Credit Unions. One from my Home town in California and one here.

yellowpatrol wrote:Best Buy has 6 months no interest on their card. You'll need someone to co-sign but then you're set.

we have more than that. Currently in Home Theater we have 2 years no interest.

Adionik · Post by **Adionik** » Mon Nov 05, 2007 1:43 pm

MoxHairR/T wrote:hmm... i'm not going to say my credit debt.. lol i only have two cards though

go through your local credit union. They typically have the lowest rates. I have a 6% interest card and a 5% interest Card. Both Cards are through Credit Unions. One from my Home town in California and one here.

yellowpatrol wrote:Best Buy has 6 months no interest on their card. You'll need someone to co-sign but then you're set.
we have more than that. Currently in Home Theater we have 2 years no interest.

Yeah the BB CC was pretty good, but I know for a fact I won't get shit. I remember sending customers to the front to try and get one and they'd come back pissed as fuck...almost looking like they wanted to punch me because they were rejected.

I don't think my parents will co-sign, although they have fucking excellent credit...we'll just have to see what happens.

Wenuden · Post by **Wenuden** » Mon Nov 05, 2007 2:01 pm

Mox hit it on the head. Credit unions are your friend, fuck a bank. find a navy federal credit union and start an account there, close your bank of america account, and enjoy a better banking experience. plus, since credit is the name of their game, they almost always offer better rates than a bank for a person in your creditless situation.

fyi, cell phones build your credit quicker than you'd expect. idk if you have one, but if you don't, get one. if you're on a plan with your parents, get your own. also, gas cards are a nifty way to build too. paying your bill early is a +. i try to keep a positive balance on my gas card and cell phone bill. that also comes in handy at times where you're financially strapped one month and your choice is to eat or pay your cell bill lol.

with my sxt, i made every payment a month early, and always paid more than owed (don't do that unless you plan on paying off the whole loan on a car, as any extra you pay typically goes towards intrest first), and my beacon score went up almost 160 points over a year and a half.

Dodge-girl, that payment you made late is fucking you. it'll follow you for quite a while. you should speak with the company about trying to get it removed from your credit history.

rOniN · Post by **rOniN** » Mon Nov 05, 2007 2:04 pm

Most likely you wont get a limit above 500 dollars so anything over that you wont be able to charge.

Credit is easy to get and easy to screw up. I would suggest getting one if you know you can keep it under control. I would ask your parents for the extra cash to get the TV and pay them off. Safer for everyone. Use your card to by food and gas and then pay that off every month and you will be rewarded down the road with some credit.

Don't spend more than you have ever unless you know you will have the money at the end of the month.

Credit Cards don't build credit very well at all. You have to get a loan or form of payment to build credit quickly.

03neonse03 · Post by **03neonse03** » Mon Nov 05, 2007 2:48 pm

i have a 7000 credit limit card. with a 20% interest rate, STAY AWAY!!! even though my card is not charged up it is still better to save up and buy it in cash. CREDIT CARDS FTMFL!

Crashin · Post by **Crashin** » Mon Nov 05, 2007 2:59 pm

Credit cards are great if you give them the respect they deserve. Lose your wallet and no chance of getting your cash back, but you are covered for most of the costs on a stolen c.c. Plus, hard to rent a car or hotel room now a days without a major c.c, it is a good tool to have it used properly. Personally I stay away from department store cards and gas cards, interest is too high if you are carrying a balance.

jT · Post by jT » Mon Nov 05, 2007 3:32 pm

teamliviD wrote:Go to Wal-mart and put that shit on lay-away if you cant buy it.....

no layaway at walmart anymore

Post by **occasional demons** » Tue Nov 06, 2007 3:31 pm

Back in the day the only way I got one was when I took out a loan for a car and the loan officer had me fill out an app. for one. It wasn't the best but it was a start. 18% and $20 a year fee. Once you get one you'll start to get offers in the mail. Just wait till you get one that has a good rate and apply. If you get it, pay off your 1st one and cancell it. Now this won't get you that TV but for the $500 you have now, if you can score a good BF deal I think that $500 will buy a nice one....

He Hate Me · Post by **He Hate Me** » Tue Nov 06, 2007 10:35 pm

Haha this is actually really funny.

I just turned 18, 2 months ago and was just as excited to get a credit card too. Mostly to buy crap for my Neon, but also at the same time establish credit so I would be set down the road after college.

Well, days went by after I turned 18 and filled out a shit ton of credit card applications. I of course got denied to all of them, and then finally came to my sense to stop applying. (It only makes your credit look worse when you apply so much and keep getting denied FYI).

So I gave up, I don't really need one I thought to myself. Long story short, I work at Les Schwab, and bought a pair of mechanic gloves, $3 that was put onto my account, got the bill in the mail, paid it off. Next thing I know, I got a little better credit score. (I have a subscription to freecreditreport.com).

So I think to myself, now maybe I can go get credit somewhere else aswell. I've been meaning to buy a engagement ring, was originally going to buy it for cash, but said what the heck. So I go to Kay Jewlers, talk to the ladies there, sign up for an account, wait a few minutes, and wala! I get a credit account there a little higher than a normal one. I was surprised. No payment for 3 months and only $50 a month, I could do it.

So every new month, I buy a new pair of gloves, and pay that off, up goes my credit score. Easy. I just recently joined the ARMY, and just the other day purchased a new Laptop from Dell, (I also got credit from them for $1000). Payments of only $29 a month.

So from where this is going, I don't need a credit card anymore, but I figure that down the road when I'm out of Basic Training and AIT then I'll apply for a credit card, and will have decent credit and being in the military helps aswell.

Sorry for the long story, but I thought it kind of related. Just remember, like everyone else said, don't go wild with it. I believe I kept my self under control, sure I did purchase some decently priced items (ring and laptop) but I made sure it fit into my budget.

Good skill to your and God bless.

teamliviD · Post by **teamliviD** » Wed Nov 07, 2007 9:02 am

jT wrote:
no layaway at walmart anymore

Damn....that sucks.

Post by **occasional demons** » Wed Nov 07, 2007 12:30 pm

teamliviD wrote:
jT wrote:
no layaway at walmart anymore
Damn....that sucks.

No great loss, you could oly leave stuff in it for a few weeks. At least k-mart would let you keep it there till it was paid off and if a sale came you could get it for that price.
Dell Credit FTL! they screwed me did the 90 days no interest, paid it in around 70 days and still got bitch slapped with a $59 fee.

J-Villa · Post by **J-Villa** » Wed Nov 07, 2007 12:39 pm

i'm about to drop 300 off my visa card. then i'll be over half way paid off on it!

once i get my mc and visa card paid off they are staying paid off and emergency's ONLY!