I just got the discover card today, now how do i use it? im only 20 years old, LOL! what can i do with it? will my mom teach me when she has time???
2006-12-26 04:56:32 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
You use it to buy things. You slide it through the machine when you checkout. Just don't go over your limit and pay your monthly bill on time. Otherwise you'll have bad credit and go in debt. Use it only if you need to. It's better to use your check card from your bank. Since you don't owe anything and you use what you put in the bank.
2006-12-26 04:58:29 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Your Discover card is just another credit card like Visa and Master Card. If you're not very experienced with money, I'd say use it VERY CAREFULLY. Talk with you Mom (and Dad) or any caring adult abt it.
You would benefit from having managed a checking account and having been on your own before acquiring a credit card. A credit card IS NOT cash. Too many people tend to use credit cards as if they're another source of income; they too frequently carry balances for long terms (think years) and thus end up paying ridiculous interest on those balances that they could never get on their own cash balance. (Right now cards collect interest probably ranging from around 15% to 29%, while the best interest rate you can collect is around 5%) Whoever is backing your payment on the card should set a limit on any balance you carry; I'd suggest you yourself set a zero balance limit, or maybe a maximum number of months that any balance would exist (and keep that number less than 6).
2006-12-26 13:14:40 · answer #2 · answered by answerING 6 · 1⤊ 0⤋
Swipe and sign away! Just be sure to pay your bill each month so you dont have to pay for interest! After you activate your card (by calling the number on the back or on the activation sticker) you should sign the back of your card and write "see ID" so if it is stolen, it will help prevent fraudulent use! Good Luck!
2006-12-26 13:01:29 · answer #3 · answered by CAMTRC 2 · 2⤊ 0⤋
I am 25 and still trying to pay off the card I got when I was 18. Be Careful.
2006-12-26 12:58:21 · answer #4 · answered by littlblueyes 4 · 0⤊ 2⤋
If you have a mastercard logo on it, you use it wherever mastercard is accepted, If you dont know how to use it, as it appears you dont, then get rid of it! Or just give it your mom and let her take of it for you.....
2006-12-26 13:04:31 · answer #5 · answered by chrissys08 2 · 1⤊ 0⤋