i here all these bad things about credit cards, that people depend on them to much..they have helped me outlast few month and am plannin to pay it all off. but im more into building up my credit score. thatt normal? other use them to "lavesly' buy evrythign they see..im using mine on items i would buy with cash anyway.
2007-03-19 16:42:26 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Using credit cards to increase your score is a great idea. Always pay the bill in full every month and never charge over 30% of your available balance, pay on time every month and you will be fine. The people that say you don't need a credit card are just wrong. You can't rent a car, book a flight on a plane or secure a hotel room without one.
Credit cards are like guns, they are only dangerous if the person handling them is a moron.
2007-03-20 04:12:39 · answer #1 · answered by ? 7 · 0⤊ 0⤋
I think you have the right idea about credit. Some people will say you don't need credit, but the truth is you do. A good credit score will give you the best rates on mortgages, auto loans, and credit cards. Good for you to want to improve your credit!! You are using the credit cards correctly, use them and pay them off regularly.
2007-03-20 10:47:41 · answer #2 · answered by Primdiva 3 · 0⤊ 0⤋
Why do you want to "build up" your credit score? You only need one if you are planning to go into debt for crap you can't afford (like a new car). You can buy a house (the only thing you should EVER finance) at a great interest rate WITHOUT a credit score as long as you pay your rent & utilities on time for 2 consecutive years. You just have to go to a REAL mortgage broker or lender (who does MANUAL UNDERWRITING), not some monkey in a cubicle who just pulls your credit report & grunts "Yea!" or "Nay!"
2007-03-19 23:54:34 · answer #3 · answered by Tom's Mom 4 · 0⤊ 1⤋
As long as you don't foget to pay them, keep cash on hand so you could pay them off of make sure you could pay them off in a short amount of time and don't carry more then 50% balance it's not a bad idea.
But I thought I'd do this and eventually ended up 10,000 in debt, fortunately the equity in my house bailed me out.
2007-03-19 23:51:40 · answer #4 · answered by Dane_62 5 · 0⤊ 0⤋