I don't want bad credit, or them to bleed me dry of money.
2006-12-24 04:33:56 · 7 answers · asked by amazon 4 in Business & Finance ➔ Credit
Unless you are absolutely sure you won't "charge" just because you can, DON'T GET ONE! You will never get out of debt.
it takes about 30 years to pay off $5000.00, if you only pay minimum. Don't fool yourself in to believing you can or will make bigger payments...you may very well do it, then all of a sudden, something comes up and you continue charging. It is a never ending battle.
If you need a credit card for things such as car rentals..look into a prepaid credit card. You have to put the money in it before you can spend it. kind of like a savings plan for a "bad weather day".
2006-12-24 04:54:22 · answer #1 · answered by little bit 1 · 0⤊ 0⤋
If I were you, I'd start by getting a small signature loan and getting 1 or 2 secured credit cards, pay the loan off within a 6 mo. to a year, close the acct, and the same with the cards.. The reason for this is so you will not be a ghost to the credit world ,and it will show cc companies that you are responsible and will not hit you with a 19 to 24% interest rate which will save you bundles of cash. By doing this, it will open alot more options for you as far as getting a home or auto... You can do your own bidding...It's alll about you being in the drivers seat.
2006-12-24 12:47:39 · answer #2 · answered by gsaul35 2 · 0⤊ 0⤋
Credit cards are not evil, it's just that many people don't understand how they work and/or don't have the self control to manage their use. You should have one because there are times you need one to do certain things, but as long as you know it does not exist just so that you can buy things you can't otherwise afford, you're fine. In other words, if you can't afford the new couch out of your regular checking account, don't use your credit card for it just because you can. You should pay it off every month so you pay no interest. You don't want to be paying for a cheeseburger 3 years from now.
2006-12-24 16:02:25 · answer #3 · answered by The Scorpion 6 · 0⤊ 0⤋
To earn a good credit rating you have to build up credit, getting a credit card is a great way to build credit. But it has many pitfalls! try to limit the number of cards you have down to two or less. Dont get every store card it looks bad to have many outstanding credit lines. On the few cards you have try to pay them down to almost a zero balance every month but keep about a $10 balance. You dint build credit by paying them off completely every month. The credit companies want to see a steady and on time payments. If you have a high line of credit and a low monthly balance it shows discipline, and if you buy something remember you will have to pay for so dont think credit it a free pass to shop.
2006-12-24 12:43:28 · answer #4 · answered by Rob B 1 · 0⤊ 0⤋
If you don't want bad credit or to pay a ton in fees, don't use your card irresponsibly. The company can only screw you over if you let yourself get into too much debt. You control your actions, so you can control whether you have bad credit or pay a lot in fees.
2006-12-24 13:38:22 · answer #5 · answered by Vadalia 4 · 0⤊ 0⤋
You could call your bank or call any credit card company and ask them if you could get one.
2006-12-24 12:37:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
jst dont get one, if the banks had their way they would take all your money.
2006-12-24 12:40:10 · answer #7 · answered by bidia 3 · 0⤊ 0⤋