I'm in need of a vehicle asap but a lil strapped for cash. Would getting a credit card and purchasing and a car between $1 - 2000 be smart if I can pay off pretty soon. I'm close to saving what I need but the rate I'm going at it is not fast enough for when I need the car so I figure I could take what I'm saving and just pay the card off plus whatever extra and never touch the card again, or pay min. and build credit. Any advice?
2007-02-17 03:11:43 · 2 answers · asked by devp444 1 in Cars & Transportation ➔ Buying & Selling
If you need to "build credit", you probably wont be issued a card to begin with. Also, odds are you will use again and again as repairs are needed, sending you into a black hole of debt that will take YEARS to get out of
Answer to your question: NO!
2007-02-17 06:40:20 · answer #1 · answered by Trump 2020 7 · 0⤊ 0⤋
Make sure the place that you are looking to buy a car can take a credit card, before you go to the hassle. Otherwise I would say do it. Hopefully the car will make you more money than it will cost you (by getting you to work) and you will be able to payoff your card. Make payments until you can pay it off, that way you can build credit also.
2007-02-17 03:24:03 · answer #2 · answered by Dr. of Situational Psychology 3 · 0⤊ 0⤋