I want 2 get a credit card........HELP?

Question

I want a credit card but i dont exactly understand everything a/b them. How do u pay them off? How does it usually work? and whats the best one for a student?

Which kind is the best? Visa, Mastercard.....etc??

If you dont use it do they still charge you?

Answer 1

Here are some things to think about. The easiest time to get a credit card is when you're a student. This may sound bad, but credit card companies get a lot of customers at colleges; reason being that most students in college are strapped for cash, and need a "quick fix". But this is not always a bad thing. If used responsibly, it's a great way to start building a lengthy and solid history. The trick is to not get in over your head. A credit card should be used for emergency purposes, or if you're able to pay off small purchases. If you're not able to pay it on time, or at all, then it's not a good idea. The benefits like being able to rent a car, make hotel reservations, establish credit in general may not compare to the disadvantages of harassing calls of collectors when you don't pay on time, not to mention hurting your chances of being able to get bigger things like, buying a car, a house, or even a job. Normally when you use a credit card, you have x amount of days before they start charging more money, or interest to what you already charged. That's called a grace period. After a certain date, you'll receive an itemized statement in the mail detailing what you charged, how much you owe, and how much additional money (finance charges) were added on. The key to using a credit card is to not to max it out, or charge it to the limit. That's where they'll get you. It's bad enough to borrow money that you can't pay all at once, but it's even worse when more money is added on every month for borrowing it in the first place!. Like I mentioned earlier, use the card for emergencies, charge only what you know that you can pay off every month. I'll even go as far to say that if you have the money to pay for something in cash and you use the card, put that cash that you would've used to buy it in a jar, cigar box, it doesn't matter, put it and use that money to pay the bill when the statement comes in. Another thing. Don't charge a lot to fast food. It's a common trap that me myself fall victim to from time to time. That Big Mac or Whopper or whatever your favorite burger is wouldn't taste so good when you're paying daily interest on it when you charge it. Keep that in mind. A good start would be to apply for a secured credit card where you do your banking. The catch is that you would have to put up the money first into a savings account to guarantee the line of credit. for example if you deposited $200 then you would get a credit card with a $200 credit line. I know that it doesn't sound like it's worth it, but here's the beneifts of that. Not only it's the easiest way of getting a credit card, the deposit that you made will collect interest while you have it in there, so that when you've paid on time and took care of the card, you wouldn't need that savings account to back up the credit card. It would become unsecured, and you would get your deposit back with some interest. But before you do anything, be sure to do all the research you can before getting into anything.

Answer 2

Apply for a secured card. Think of it as a credit card with training wheels. You put money in the bank and they give you a credit card with a limit of the amount you brought in. Say you bring in $500 they give you a secured card for $500. Most major banks and Credit Unions offer such a card and after paying on it for six months to a year they let the card become unsecured, (they let you have your money back).

Always pay off the card every month show you are a good risk and that you use credit wisely. Max it out once but only if you have the money to pay it off immediately. Then never use more than 30% to 40% of the limit.The more responsible you are with credit, the more credit you will receive, and soon the less you will need it.

You will get a bill every month via snail mail. But if you bank with the same Bank you get your credit card at then get on-line banking it is usually free. You should be able to transfer funds to pay off your Credit card anytime you want. If you do this make a habit of paying it off the same time every month, or checking it a couple of times a month or even better still after using it pay it off the next day.

Good luck,

Answer 3

Credit cards help you built credit, but take in consideration that it can destroye it too! you can apply as a student, most probably theyll give to you! but you need to be very carefull, because it can become a very large problem!!

let say they give you a line credit of $500.00 ok! that is for you to spend! and the first month you spend $50.00, if you dont pay those $50.00 when the bill arrives, and only pay the minimun, you will start paying interest on those $50.00 and that is the problem!! you always have to send either the full payment or more than the minimun, otherwise youll be eaten by the credit card interest and wont be able to get rid of that debt....... some credit cards have up to 19% of interes!! do some research and be carefull on how to use it, dont act by impulse and get yourself in something you wont be able to get out of.............

Answer 4

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