I'm still a minor , and I'm just curious , Dealing with credit cards ( from what i've read ) Seem's rather difficult and annoying , So do we really need credit cards now a days?
2006-10-25 08:50:06 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
If I Were going to rent an apartment or buy a car , Wouldn't I Need a card , though?
2006-10-25 08:56:49 · update #1
Credit cards are great. But the potential for abuse is great too.
I prefer to use a card in situations where I don't want to carry much cash.
But I know that whatever I put on the card must be paid in full when the statement arrives, so i don't spend beyond my means. It's just plain stupid to go into credit card debt. The interest rate is crippling.
2006-10-25 08:58:30 · answer #1 · answered by ratboy 7 · 0⤊ 0⤋
Yes Yes YES you do but not to buy everything you want. In America your credit is the most important thing you have. You can be the nicest person but if you have bad credit.... Too BAd.!! All you'll hear is no no no no. And if they say yes you will have to put a hellll of a deposit. The trick is if you use a credit card don't use a debit card or cash. So at the end of the month you can pay the balance off. Interest is what get people into dept. Every time you have a balance on the card the bank will charge you extra which means you have to pay the minimum plus interest to bring the balance down. Credit cards are complicated. Don't get one until you have too. But yes!!!!
2006-10-25 09:05:53 · answer #2 · answered by Hey There 4 · 0⤊ 0⤋
If you are one of the lucky ones out there with no debt, count your blessings. They have destroyed many more lives than they have ever helped. Check out www.daveramsey.com he has a great program about debt free living for teens as well as adults. This can honestly change your life.
No need for a credit card ATM cards work in all the same places, also for an apartment you would simply pay a deposit. It is a misconception that we need credit and the truth is the creditors need people paying the interest charges.
2006-10-25 08:53:21 · answer #3 · answered by DR 3 · 0⤊ 0⤋
Credit cards can be one of the easiest and most efficient ways to build your credit history.
Strategies to using credit cards:
1. Don't make late payments: like a cut, only time can repair your credit history
2. Never just make the min payments. (if you can afford I'd suggest paying 2x min)
Credit scores above 620 gives you some of the better rates when it come to purchasing a car, a home, a business, insurance, etc.
The best predictor of future payment pattern is past payment pattern.
Hope this help.
2006-10-25 08:55:53 · answer #4 · answered by corey j 1 · 0⤊ 0⤋
Wus up slim? to tell U the truth it is difficult and annoying but when U get a full time job and have bills & morgage or rent and have to make major purchases and payments on things then the bennifits may outway the setbacks, but everyone desides for themselvs depending on their situation
No, the card makes some purchases eisier, but it's not required as the only method of payment for anything.
2006-10-25 09:01:56 · answer #5 · answered by dctrod225 2 · 0⤊ 0⤋
Yes. Having credit cards and using them properly helps your FICO score which impacts lending rates, insurance rates, job decisions, ect..... Dealing with credit cards is not difficult if you pay them. If you max out your cards and just pay the minimum due each month, you are asking for financial trouble. Enjoy the convenience of using credit cards for purchases, just make sure you can pay them in full every month.
2006-10-25 08:59:53 · answer #6 · answered by DougD 2 · 0⤊ 0⤋
credit cards are handy but rate is high
debit cards have replaced many credit cards...
people don;t want to carry large amounts of cash--use debit card...
establishing credit is really a must....buy card-home ect.
so having a credit card or two helps build solid credit..
just pay off balance monthly...don't carry a balance forward.
many cards charge 18 to 21% interest... high....
2006-10-25 08:54:39 · answer #7 · answered by cork 7 · 0⤊ 0⤋
i find them a convenience since i don't have to carry around cash.
i have never had problems and my credit rating is great.
so i can buy a plane ticket if i want or if there's a funeral even if i don't have the cash and pay it off over the next couple of months.
it's great for me. But then, i never pay any interest and have never been late or behind. If you are responsible they are a convenience.
If you are irresponsible they can ruin your life.
2006-10-25 08:58:19 · answer #8 · answered by BonesofaTeacher 7 · 0⤊ 0⤋
no we dont. i have a debit card only just to get cash from atms machines and a checking acount and that works out fine for me. if you like to buy things over the internet or subscribe to things you would need a card though
2006-10-25 08:55:00 · answer #9 · answered by Big Rudy 3 · 0⤊ 0⤋
They are very handy as long as you don't go wild with them always try and pay more than the minimum amount. It is really best if you can pay them off at the end of each month then there are no interest charges.
2006-10-25 09:29:42 · answer #10 · answered by Bella Donna 5 · 0⤊ 0⤋