 credit, how does it work |
 Oct 4, 2006 - 11:30 AM
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 Enthusiast  Joined Mar 14, '06 From Mary Land Currently Offline Reputation: 0 (0%)  |
I just got an amex credit card. im new to having my own credit card. always went through my parents card (but it had my name on it w/e that means). i just got it cause i wanted to start building my credit. i dont completely know what that entails but i got one anyway lol. i basically just figured to get a car or house in the future i need credit so ppl will approve me. so is credit just using your card and paying bills on time? and if you do, you get a good credit score? is that basically it.
btw i got credit $2000. that sounds like a large amount to me given that i dont have that much a month lol. esp since i dont work right now. but sounds good to me lol. i just found it interesting cause my friends all started out with around 500 and i clearly didnt lol. |
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Oct 6, 2006 - 7:50 PM
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Enthusiast Joined Nov 9, '03 From Dayton, OH Currently Offline Reputation: 2 (100%) |
QUOTE(confucious @ Oct 6, 2006 - 8:02 PM) [snapback]488523[/snapback] BUT as far as BUILDING credit, why buy a new thing on it EACH month and pay it off completely and follow this cycle: buy something, pay it, buy something, pay it, buy something pay it??? I don't think you want to be getting a youngster in this pattern. Why not just buy something, pay it slowly and it will be reported on your credit each month? I'm guessing he doesn't plan on buying a house in a few months. If you just slowly pay it off, you'll be in awesome shape by the time you are my age. INTEREST??? Why would you want to give free money to them if you dont have to? You wouldnt have to give away free money (interest) if you use proper spending methods like not charging more than you can afford and paying the amount off in full. Credit card companies dont like people that do it the right way of course....they aint making anything off me, in fact they paid me 180$ last year just for using the card  Maybe thats why they keep bumping my limit up though...to try to get me to spend more than i have so i have a balance and get those nice interest charges.Try this out... http://www.bankrate.com/brm/calc/MinPayment.asp This post has been edited by bufferdan: Oct 6, 2006 - 8:01 PM --------------------  |
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Oct 7, 2006 - 6:24 AM
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Enthusiast Joined Jun 15, '06 From montana Currently Offline Reputation: 0 (0%) |
QUOTE(bufferdan @ Oct 6, 2006 - 7:50 PM) [snapback]488601[/snapback] INTEREST??? Why would you want to give free money to them if you dont have to? You wouldnt have to give away free money (interest) if you use proper spending methods like not charging more than you can afford and paying the amount off in full. Credit card companies dont like people that do it the right way of course....they aint making anything off me, in fact they paid me 180$ last year just for using the card Maybe thats why they keep bumping my limit up though...to try to get me to spend more than i have so i have a balance and get those nice interest charges.Try this out... http://www.bankrate.com/brm/calc/MinPayment.asp effort vs. interest. |
Posts in this topic
Toyoca credit Oct 4, 2006 - 11:30 AM
BlackCelicaGT94 dont go charging up a storm. i got one at 18 and i... Oct 4, 2006 - 11:53 AM Supersprynt Amex wouldnt be my choice but I pay my MC off ever... Oct 4, 2006 - 11:55 AM Toyoca i wont ever charge over any amount of money i cant... Oct 4, 2006 - 12:26 PM orvillescelica You got it right. I have a credit card... I charge... Oct 4, 2006 - 1:15 PM mzztoyota Just make sure you pay everything ON TIME, I think... Oct 4, 2006 - 1:21 PM Toyoca is there somewhere to look up my credit score for ... Oct 4, 2006 - 1:22 PM mzztoyota annualcreditreport.com is supposed to provide you ... Oct 4, 2006 - 1:27 PM saleeka If you started out with a $2000 limit, you al... Oct 4, 2006 - 1:32 PM Supersprynt Why would your score drop if someone looks at it? ... Oct 4, 2006 - 2:53 PM
saleeka QUOTE(Supersprynt @ Oct 4, 2006 - 2... Oct 4, 2006 - 3:25 PM confucious in regards to building your credit, buy something ... Oct 4, 2006 - 2:58 PM Supersprynt That doesnt make much sense. Responsibility is sho... Oct 4, 2006 - 3:29 PM saleeka QUOTE(Supersprynt @ Oct 4, 2006 - 3... Oct 4, 2006 - 3:51 PM saleeka in a way it does make sense- but only for the cred... Oct 4, 2006 - 3:46 PM uberschall whoever originally said to buy something reasonabl... Oct 4, 2006 - 4:18 PM Toyoca k so basically just pay off whatever amount they s... Oct 4, 2006 - 5:26 PM quicknstyle dont just pay it off, but then again dont just pay... Oct 5, 2006 - 11:11 AM Toyoca i dont believe i have interest but im not sure lol... Oct 5, 2006 - 11:41 AM Ale_lock QUOTE(Toyoca @ Oct 5, 2006 - 12:41 P... Oct 6, 2006 - 1:11 PM BlackCelicaGT94 My reccomendation is pay more than the minimum due... Oct 5, 2006 - 1:05 PM bufferdan Pay it off in full everytime its due...dont be pay... Oct 6, 2006 - 9:44 AM bufferdan btw....amex blue card is nice. Its my favorite... Oct 6, 2006 - 1:14 PM quicknstyle QUOTE(bufferdan @ Oct 6, 2006 - 7:44... Oct 6, 2006 - 1:23 PM JonCars17 I don't have any credit, but I just got a cred... Oct 6, 2006 - 1:59 PM bufferdan [/quote]
cell phones dont count positively towards... Oct 6, 2006 - 2:30 PM confucious BUT as far as BUILDING credit, why buy a new thing... Oct 6, 2006 - 3:02 PM My2Celi Thats exactly what im doing. I buy stuff with my c... Oct 6, 2006 - 3:39 PM BlackCelicaGT94 So I have a credit question onw
My parents have g... Oct 6, 2006 - 5:34 PM saleeka /\ yes your score is affected, good or bad...... Oct 6, 2006 - 5:43 PM BlackCelicaGT94 Yeah i was a lil pissed to find out when Express d... Oct 6, 2006 - 5:58 PM saleeka I dont know about you, but I would be FURIOUS if I... Oct 6, 2006 - 6:04 PM BlackCelicaGT94 I dont think its forging. I think they call and sa... Oct 6, 2006 - 6:11 PM Ale_lock Nice link, gimmeh more info! Oct 7, 2006 - 3:28 AM |
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